My trading grace

This morning I woke up to a lot of red in the market, a loooot of red bars in my holdings. It used to concern me for two reasons FUD and FOMO.

The Fear, Uncertainty and Doubt would be the questions like is this it, has the bubble burst, have the governments realised the threat and shut it down, did aliens attack etc. After all, a lot can affect fake money, perhaps I landed on Mayfair and Park Lane simultaneously? (For those too young to know the joys of playing a board game with family screaming and crying involved, that is a Monopoly reference)

The Fear of Missing Out is because when the markets drop 'unexpectedly' (this is crypto, welcome) I rarely have enough resources to take advantage of it, (just in case aliens did attack and decided to buy in to alts). It has been known to happen that I have made some poor decisions in an attempt to consolidate losses and take advantage. Most of the time I have failed at this but, I am slowly getting better.

These two F-Words (technically Acronyms but F-acronyms sounds stupider) combine to make my heart skip and injects butterflies into my stomach yet, I am not in love. Does anyone else get that sinking feeling when they realise 'Shit, now I have to hold for eternity to break even'?

I think most of have been at this point, I think even the experienced traders get somewhat caught out from time to time regardless of what they post about taking advantage of the situation. I have come to learn that these times are a good reminder of the volatility and that there are dips as well as peaks. I am also much calmer about these blips than before.

What is my trading grace? Steem Power. It is my Steemit wallet that keeps me centered when the markets fall away for two core reason. It is locked for 13 weeks which means my FOMO'd little hands can't piss it away like money spent out with the boys, and it is still possible to earn on through curation and voting.

Steem Power is quite unique in many ways because of this as it is kind of like a semi-savings plan, a backup just in case. I know that many people would love to be able to get their hands on it straight away when the red bars are long but how many would buy too early, invest into that promising ICO that fails or cash it out to make life easier when it wasn't really necessary?

This cushion also has another advantage, it isn't Fiat in a bank, it is a promising cryptocurrency that has the potential to grow enormously in the coming years. Many seem to think because they get it 'free', it has a lower value. Yes, not having it liquid may cost in the short term but, if next year it hits 10, the year after 20 and the year after that 50, that is a pretty decent return on a savings plan don't you think?

At least for me, this (possible illusion of security) calms me a little when the markets dip and this is why even though I have taken some to play with (occasionally lose) in the markets, the majority gets powered up in the hope it will increase in the future.

I am optimistic on Steem for three main reasons. The quality and speed of the blockchain, the possibilities of SMTs over the next few years and, a community to back it with the most of the highly invested looking out for the platform (in their sometimes flawed ways).

If you are concerned about your earnings here but do not understand the basics of how the Steem blockchain works, what SMTs are or who and why there are witnesses and what stake means, you best get learning as you have very little claim to complain without some understanding of the platform you are complaining about.

The last main reason I like Steem Power? I can add value to friends, family and many of the great content providers I find along the way. It might be 1 cent, 10 cents or a few dollars but they all add up and the potential for a much higher future value is large.

So for me at least, Steem Power has helped me invest into what I see as one of the most promising blockchains and be able to support it at the same time. What many forget is that Steem is one of the few coins that has actual usage in the real world and the most efficient blockchain on the market. The future looks bright I think, at least for those who didn't Power Down everything they earned.

But, it is your Steem, you can do with it what you want.

Taraz
[ a Steemit original ]