Fear is consistently present in our lives. Even the most courageous of us have fears. The strongest fear is to lose. Not necessary to lose money, but to lose. The biggest fear is to lose your life and most of our fears start from that point. As soon as you get that you have nothing to lose, you become more inspired and you can make better decisions.
“You need to learn to be comfortable with losing money if you want to trade successfully.” – Curtis Faith
I like crypto market because it brings out the incertitude and the uncertain. Even if people try always to be in control of their lives, the idea of control, safety or security is just an illusion. I think that I’ve been attracted into the world of crypto due to the uncertainty in this market. Since I’ve learned a lot during my hiking as a tour guide that security doesn’t exist in nature, when I chose to invest in crypto the uncertainty and the missing regulations convinced me that this would be an interesting adventure.
In my opinion it is good to have some fear while investing your money, since most of us work hard for that money. On the other hand, too much fear can keep you on the shore, without having the courage to dive into to river. Accordingly, in order to deal with fear while investing in crypto, I’ve choose to use some pillars to help me “navigate” in this market.
Consider the experience like a game
Very often we see our life as something very serious, as something very big. In fact, if we observe the entire world, we may see that we take too seriously everything. If we go back to our childhood, when we played a lot of games, everything was fun and everything was possible. So, I’ve decided to see crypto investments like a game – a game that I understand better and better as soon as I’m playing it. Accordingly, instead of run away and go back in my comfort area of my old habits, I’ve decided to play and see everything as a game. The money that I’ve invested was virtually in my pocket, since I’ve never touched them. So, instead of playing games using paper money, why not to play games using the money that I receive in my bank account!? When you change the perspective, everything changes. Based on this assumption, you may understand that when you play the game, you may have fun, while getting more familiar with the rules. Consequently you become a better player trying to win, but first of all trying to enjoy the game.
You are not your money
Another point that helped me to cope with my fears of losing money while investing in crypto was to understand and to realize that I’m not my money. With or without the amount invested in this market, I am the same person and I can still follow my dreams. Even if I worked for the money that I’ve invested in crypto, my lifestyle can’t be affected into a negative way even if that amount of money would decrease or would disappear. As soon as you realize that your value is not granted by the money you earn or by your investments, you become relaxed and you may notice that you take better decisions, even while you place orders on the trading platforms.
Consider that you buy/bought experience
At first sight you may consider that losing money in crypto means that you had a bad decision while follow someone advice to get into this market. Nevertheless, if you change the perspective, you may consider that you paid some courses and some practice in the trading domain. Even if I learned and if I tried to obtain the information about trading, only after “playing” the game I began to figure out how to reduce the risks and how to choose the moments when to buy or sell the assets. While considering that you have paid for some training in the trading domain, you may not be very exigent with your own decisions.
Train your patience
One of the most important pillars in crypto, but also in every aspect of our lives, is to have patience. Sometimes we need even more than patience, we need infinite patience. Even if most of us decide to invest in crypto in order to earn more money in a short time, very often we must be patient in order to see our investments growing. Furthermore, the market may be affected by different situations and even the most experienced traders may be affected by market crashes. While the first impulse is to reduce losses selling the assets, you may deal with the panic by having patience and trust that in the future your patience will be the winning card that you have played at a certain moment.
Don’t follow too much the crowd
Lately I’ve been able to deal with fear while investing in crypto by avoiding crowd’s messages. I consider that there is not even a domain in our modern society that is not manipulated by the news and social media. Accordingly, even if at the beginning I considered important to be up to date with news and influencers in the crypto domain, lately I’ve discovered that the best choice is to follow the gut while taking the decisions and learn from the outcomes. Even if sometimes I didn’t take the best decision while taking my personal decisions, I’ve learned from those decisions. On the other hand, when I’ve tried to follow the crowd, I’ve been confused and sometimes I decided to stay on the bench instead of getting in the arena, missing some great opportunities.
If you have fears while investing in the crypto market, I hope that these ideas will be useful. If you have some other ideas that may be helpful to come against fears while trading crypto, please don’t hesitate to leave a comment to this post. Good luck with your trading and always invest only the amount of money that doesn’t put under risk your everyday life and your family’s living resources.