Do You Want More and More (and More)? [Investing and Emotions]
Investing is not a weakling's game
Do you have a feeling of having invested too little? Do you get the feeling of wanting to put in even more money every time you invest in something? Do you feel like putting all of your savings in STEEM while the price still is low?
But if consistency is key in investing, then what is investing based on feelings going to do to your rationality?
Investing based on emotion can lead to buying at the top, but then selling at the bottom. It's not at all what you want to be doing, right? It's happened to me before on several occasions, the previous case being the last time I ever do that again.
I did it with Pesobit, I did it with GameCredits, I did it with XEM, I did it with Singular DTV, and the end-result was terrible, needless to say. I felt awful. My emotions got drained, I felt down and generally depressed, but I was so hyped on this new invention of cryptocurrency that I felt it just could not go wrong. I was very wrong in believing that.
Also, I recommend reading this article regarding emotional investing. I believe Steemit needs less emotion and more rationale. Therefore I want to invite you to take some time and go over your emotions towards this project, because it is very important for the longevity of this whole thing. I'm certain of it. You might get the same rush gamblers feel when betting all their money, so understand the difference between gambling and investing so that you are aware enough not to apply the same mindset in investing as in gambling, since gambling is heavily based on emotions in the moment, whereas the important application of the deferral of gratifications is completely disregarded.
Think about it... If this is you, then you might want to look into the psych and analyze your emotions before you make a move.
This post has been ranked within the top 50 most undervalued posts in the first half of Nov 27. We estimate that this post is undervalued by $7.32 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Nov 27 - Part I. You can also read about some of our methodology, data analysis and technical details in our initial post.
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