The Crypto World is CRAZY

That was my impression when I dove head in into the world of cryptocurrency on August 6th, 2017.

All I see in various groups and posts were people talking about getting their "lambos" and also coin X Y X "mooning" among other things!

I mean having a lambo is great and all, but I didn't quite get why everyone was constant talking about it.

Until I made my first investment

After putting in $100 on a random coin that a Facebook group was promoting, it literally MOONED by 500% overnight!

I can still remember the feeling of exhilaration that I felt after waking up to this insane gain!

That Was WAYYYY too Easy

and I excitedly started putting in more money into the altcoin market as well as started reading and doing more and more research.

I have never been addicted to gambling, but I reckon this is what a gambling addiction must have felt like. Now I understand why so many people are talking about making so much money and getting there lambos (or two)!

Before long, I was setting all these awesome goals of paying off debts, buying a house, living off crypto, the whole nine yards!

Little did I know that I just happened to have entered during one of the greatest bull runs of 2017.

Then of course, the China FUD happened, and I see my investment down by more than 50% in just a few days.

Of course I panicked, threw a fit, lost some sleep, but then came to realize that it was all on me.

As a fitness professional, I have been helping people who previously have tried but failed at getting in shape, losing weight, losing fat, to finally breakthrough their own self-sabotaging cycles and finally achieve sustainable results.

A great example would be one of my client, Ming-Yen Lin. He has been thinking about losing the extra fat on his body for a while, but was never able to do it.

Not for a lack of trying. As a commercial airline pilot, his work consists of a lot of traveling, long hours, and hotel stays.

He just wasn't able to find a plan that worked for him.

Until I taught him how NOT to make this one devastating mistake.

Yet here I am making the EXACT same mistake!

What a rookie move lol.....

I soon realized that I was making the fundamental mistake in Setting the WRONG type of Goals

The 3 Mistakes People Make When Setting Fitness Goals

NO. 1 Setting an Outcome Goal instead of a Behaviour Goal

• An outcome goal describes how we really really want something to happen at the end of the process.

There is nothing wrong with really wanting something. To lose 20 lbs, to get shredded, to get that lambo.

But just really really wanting something will not make it happen. Even if you REALLY REALLY WANT IT!

That is why Behaviour Goals are so important. Because they represent what we CAN control, and also committing to a particular set of skills and tasks that we are to perform on a regular basis.

Here is a list of some examples, can you relate?

Outcome	Behaviour
Lose 20 lbs	Eat till satisfied (instead of stuffed) at each meal.
Squat more weight	Squat 3 times a week at various intensities
Buy a lambo	Research good coins to hold and keep accumulating and be patient

When I lost sight of that and was only focused on making a profit, I was always frustrated, confused, and overwhelmed because the market is not doing what I want it to do.

Lesson learned!

No. 2 Setting an Avoid Goal instead of Approach Goal

Don't FOMO

Don't Panic Sell

Sounds familiar?

After all, what is more direct and understandable then the command "DON'T"!

Sadly, it didn't work when my parents tried to tell me what not to do, and sadly, it is not going to work now either.

It is very counterintuitive, but psychologically, when you keep telling yourself NOT to do something, you are actually way more likely to do it.

For a couple reasons. First, by constantly telling yourself NOT to do something, you are subconsciously always thinking about it and actually increases the likelihood of you actually doing it.

Secondly, when we are told NOT to do something, our instinct is to fight and push back. Yes, even against yourself! When told not to do something, our natural reaction is to argue against it. Sad but true...

In fitness, I see it all the time. When a client set a goal of "I will not overeat", it guarantees that the client WILL overeat. Happens every time!!

As for me? As soon as I learned the dangers of FOMOing, I made the mistake of setting a goal of telling myself to NEVER FOMO! And guess what, as soon as NEO made that bull run, I FOMOed and bought at $50 (for reference, the price of NEO at the time of this writing has dropped to $18).

Setting an approach goal, on the other hand, pulls you closer to something positive and desirable, and in the process secretly steers you away from the undesirable actions.

Approach goals also focuses on feeling good, and that is good for everyone.

Here are some examples:

Avoid	Approach	Benefits
Stop Overeating!	Focus on eating slowly	Feel full faster, digestion is better
Stop drinking coke!	Finish 3 bottles of water everyday	I am always hydrated and no more constipation
No FOMO!	Focus on finding the best entry point	I feel calm and not stressed out

Once you find what works, just keep on repeating the process and your skill level will increase.

No. 3 Don't focus on Performance Goal but on Mastery Goal

A performance goal is when you are trying to impress someone else and asking for external validation. It could be looking to win a race, win a body transformation challenge, or looking to show your friend how you are able to make a 400% gain in crypto in just one month.

Of course, a performance goal can be fun for a while. Nothing like a little competition or bragging rights to keep you motivated.

For a while at least.

The problem is that they are also EXTREMELY demotivating if they don't work out! It makes you feel like such a failure regardless of if the standards that you have set is even realistic.

What's even worse, a performance goal puts our self-worth and happiness squarely in the hands of someone or something else. A coach who wants to you beat your time, another competitor, an arbitrary number for you to match. You get the idea.

And somehow, you are never good enough.

Mastery is something different.

Mastery focuses on:

1. Practicing and getting better at a certain skill set just a little bit everyday.

2. The joy of learning, relishing in the fact that you are bettering yourself.

3. Feeling gratified because you know you are putting in the effort and getting better regardless of what others might say or think.

But wait, what does mastery have to do with making money in crypto?

Well, when I was just focusing on chasing gains so I can validate my decision to invest in crypto to my family, I was just focusing on the performance goal and feeling extremely unhappy.

Even when I made the 500% gain on that first coin that I invested in, shortly after getting validation from my family for making a good investment, it was immediately back to chasing the NEXT gain.

It was extremely psychologically taxing and frustrating.

Here are some examples of how we can turn the performance goal mentality into mastery goals:

Performance	Mastery
Beat last year’s time in the Tough Mudder.	Build up lactate tolerance through high intensity anaerobic sprints
Drop body fat to 8% for an upcoming competition.	Build my ability to consistently prepare and execute a well-designed meal plan.
Make 30% gain everyday	Learn more about TA and consistently read a few charts a day

Since I have switched my mentality and started setting the right goals, I am a lot more calm and definitely happier!

Just sharing my personal experience, let me now in the comments if you find this interesting!

DISCLAIMER

I am simply sharing my own experience, since I am just a rookie in the crypto world. So this is not investment advice and should not be taken as such.