When you start skipping steps from your plan or strategy, you end up losing more

I've just realized on my own skin that when you start to skip steps from the plan or strategy in crypto or finance in special, you end up losing more than imagines. From my experience I think that the steady growth is more healthier and sure, rather than taking a bigger risk thinking that you'll jump the line. This can translate into selling your stash of crypto in a moment of emotion insanity like it happened to me. I've sold my Ethereum after losing patience for its price to increase... and in less than one hour I've bought it back at a loss. But while I have learned a rather expensive lesson, at least I got back my precious Ethereum. This is an example I've experienced back in the days when ETH was few hundred dollars, but it is one that I still remember and look at it now with more wisdom (or that's how I like to believe about it).

In trading, thinking that you can do a risky move that will get you a nice stash of yielding, usually leads to big loses. But if we can learn something from it, I believe we can recover from that and even recoup the investment if we stick to the plan and strategy that works. It will not happen over night, it will take a while to get everything back, but it will happen. The alternative is to spiral into more riskier moves which I cannot but see in the full lose of our funds. And that would be like: GAME OVER. Better take the long road ahead instead of shortcuts or thinking we can beat the market. We simply cannot or at least not at our stage.

Emotions take over us sometimes and in many cases we simply fell for it. But we need to learn from those mistakes as if not we will keep on repeating them, over and over again. Until at some point when we simply cannot sustain those loses anymore and we will not be able to recover anymore. It it happens once, that's a first hit; if it happens twice, that's another hit, but it happens also the third time than we need to stop. This will never work, doubling the risk never worked and that's not the way to beat the house. In order to beat the house you need to bet on steady growth with the aim to get more returns from the house than the house takes from you. That's the only way you'll end up on the winning side.

I can ramble on this subject over and over again, but the truth is that there is no shortcut when it comes to getting rich or at least making a financial future for ourselves. After the moment we start skipping steps from our plan and strategy and when we start seeing cracks appearing along the way, we simply must stop as otherwise we will lose more than ever imagined. Even if it is not easy to accept defeat or loses in that moment, we need to fight our emotions, retrace our steps and restart building sustainable. That's the only way we will make it in the end or at least that's what's working for me. I've made mistakes, I want to believe that I've learned from them and I intend to follow the plan. I will probably do other mistakes along the way, that's only human, but what's important is not to repeat the previous one or not to spiral if that happens. Sometimes we just need to take a breath, disconnect from it and when we find again the energy, get back and continue the strategy.

In the end we all have our own risk appetite and adrenaline might make us do an action or the other. But we tend to learn on our skin that such movement will hit us back and that we will lose from it. Having a plan and strategy is what ensures us that we will profit in the end and that's simply no shortcut for that. It is not an easy path, you need to be consistent and to hold your emotions in line, but in the end that will worth it as you'll be on the winning side. I try to educate my brain to go this way, even if it is not always easy to do so.

Posted Using INLEO