The Mindset Of Investors - How Wealth Is Made
Over the last two weeks cryptocurrency has been a wild ride even more so around the last few days. One of the biggest things I noticed around here but also other places was the lack of engagement and people using the platform or talking about crypto.
It's CRAZY!
Imagine for a moment that because of a dip after 6+ months of rally that you cut tail and run and sell during the dip!
I know it sounds wild and crazy right?
A majority of people did just that over the last two weeks.
Each week a few people write up stats reports on Hive and POB along with other tribes. Since the price decrees we have seen numbers dropping.
The Mindset
For most we have a short term mindset. It's because of how we look at ourselves in the near term and really don't identify with the person we could be 5, 10 even 20 years from now. A lot can happen during that time frame and it's difficult for us to relate to that person in the future.
This applies even within a few weeks as many have adapted to a instant gratification mindset. Unless we are making big bucks right now it's simply not worth our time at least that's now a majority of people currently think with their investments.
This is part of the reason we have huge issues with debt here in the USA. Now that our systems have pretty much done away with 401k's, Pensions and others it's now up to each person to take on their own finances and to be honest a large majority of people are VERY bad with this. I don't believe it's really the fault of the person though. These things where not and are not taught to us. Things that matter that are part of working up such as compounding interest, credit card debts and how they accumulate and so much more.
Instead it's up to each individual person to learn these things on their own but not only to learn but DO. In all of my years of marketing and running a business there is the classic 95/5 rule and it always rains true!
95% of people wont make it while 5% will. It's because they don't take action on the things the learned and read. It's why we as marketers can give you everything you need even the secrets because we realize a large majority of you wont take action on it anyways or give up too soon.
Apply This
Next time you see yourself questioning and getting demotivated because of a few days dip seriously think back on this article and remember that during even the hard times and low prices it's exactly when more commitment is due. To hold, stake and continue to grow and realize that it can't always be rainbows and sunshine.
You also need to realize when to take profits. When the markets and mindset of others starts to feel a little crazy (and it's honestly very easy to tell this in crypto land) when a majority of people start listening to one person and buying into a random cryptocurrency that as nothing going for it it's time to consider taking some profits and waiting for that correction dip.
"Patience is a virtue"
Only 10% of traders make money, if you're celebrating after a sell off, you just put a red flag on your head for hackers who are going to target the most successful traders.
The mindset of investor I know, the successful kind in the 10%, is to be silent ND not give up your hand. Why would I want to be gallivanting about my wealth and earn the jealousy of the poor?
Exactly it's the quite ones who are making the serious moves!
Posted Using LeoFinance Beta
Bingo. That is the truth. When prices drop, that is the time to get active on Hive and fill them bags. Many are selling which is the exact opposite of what they should be doing. That is why the market always takes money from weaker players and gives it to the stronger ones.
Posted Using LeoFinance Beta
After years of doing it wrong and I bet all of us have been there I learned the errors of my ways lol The last 3-5 days have been nothing but buy orders!
Posted Using LeoFinance Beta
You studied Marketing in school? I did as well. That’s great!
I haven’t heard of the 95/5 rule though. Everyday is filled with Liaoning opportunities.
Thank you.
I went to school for computer programing and then design didn't like either lol Ended up paving my own way and learning marketing on my own and at first working with companies such as ClickFunnels from the ground up. It's been a heck of an adventure so far.
Design to Marketing? No shock there.
I actually self taught in design then took advertising and marketing communications- which included many design classes. I loved the design classes because by then I’d had 17 years experience. The classes were a breeze and I was happy to still learn a lot.
Media related careers are a black hole of learning and also exceptionally diverse.
I get bored of fast if I’m not challenged or there’s too much or too little repetition. Media is perfect for someone like me.
But, like you said, marketing is an adventure. Don’t expect to find the end of the road; it doesn’t exist. Lol
Yeah my "design" class was drawing nuts and bolts in autocad lol so I quickly stopped that after a semester. Seriously marketing I love it, it's constantly changes, always something new to near, crypto socials bring a whole new aspect to the market now. It just fascinates me and you really have to keep on top of it. A lot of odd school stuff is just trash anymore compared to the new.
Do you still do a lot of design work? If so do you have examples? As I'm always looking to build new stuff working on something for CubDeFi at the moment.
Yay! 🤗
Your content has been boosted with Ecency Points, by @bitcoinflood.
Use Ecency daily to boost your growth on platform!
Support Ecency
Vote for Proposal
Delegate HP and earn more
The biggest issue is that people don't really have the conviction. While the leg of the bull run happens, they all said they would buy the dip (I didn't though and said early that I would sit/HODL). However when time came to pulling the trigger, the FUD took over and they didn't pull the trigger.
Posted Using LeoFinance Beta
That's so true! A lot of people talk about how they are going to do it but actually never pull the trigger and do it!
Crazy helpful! I've found myself getting caught up in those emotions especially in the last few days when crypto dropped 20% and then rebounded 40%!
true words! but to give sellers a little feed: your article is made on the believe that prices will go up again :D ;) just kidding!
Posted Using LeoFinance Beta
lol, I believe they always will given enough time.
Totally subscribe to your 95/5 rule in marketing & business. After 25+ years in marketing & sales this rule often tends to bend over to 98/2 AND it goes way beyond business; it applies to sports and health big time.
Yep, it's so crazy right lol. Until someone says that to you and you start seeing it for yourself you start to clearly see it happening all around you.