I get it, you feel like you NEED to live in the markets. Investments are the key to wealth--how can I make money if I am not currently in a trade? The answer is, you don't. AND THAT IS OKAY!
Life is so much more than just money. I never believed that statement because only rich people ever presented the idea to me. Well, take this advice from a man who has sleep for dinner occasionally.
I spent the last 6 months of my life watching cryptocurrency prices. I just finished college and had so little capital that I was willing to bet it all for a chance at financial freedom. Everyday since January, I could have told you the price of any of the top 10 cryptocurrency coins off the top of my head. I checked crypto Twitter religiously and spoke to everyone who would listen about the life changing potential of cryptocurrency. Crypto can change lives, alright. It changed mine, but not in the way I wanted it to.
I was obsessed and my relationships suffered. My girlfriend said she felt I wasn't even in the room when I was with her because I was too busy baby sitting my "investments". And you want to know the best part? I am currently down about 70% on my beloved investments. I lost my money and was on the brink of loosing the love of my life, neither of which was insured. So much for "Mr. StateFarm", huh?
You are now wondering, "How Mr. Farm? How did you break this self depreciating cycle?" Three things:
Roughly a month ago, I came to the simple but powerful realization that the markets will be there tomorrow. It is okay to go live life! Your investments should help you have a better life, not take control of yours.
Wow. There is magic in setting alerts for some percentage above and below the current market. In other words, get alerted when you should sell and when you should buy. Now go spend your newly found time treating your significant other like they are the second most beautiful/handsome woman/man in the world. Sorry, only "second most" because I've called dips on the first place for mine already.
See each failure as a way to get better. Don't let it go to heart nor let wins go to your head. When you stop beating yourself over losses, you start freeing yourself. Remember, the road to wealth is a marathon, not a sprint
One last note, at the end of the day, the relationships you have matter the most in life. There are scenarios, you are either: 1) Good in finances and relationships, 2) good in finances not relationships, 3) good in relationships not finances, 4) bad in both. If you are #4, I'm sorry. Obviously #1 is ideal but #3 is better than #2 or #4.
Till next time, from a good neighbor