Do More Of What Works
Time Is Limited
Even though much of what is done in a bear market will only be realized much later on down the road, it is still possible to monitor and analyze your progress during these early stages. Where are you currently experiencing the most growth in terms of success (not necessarily price) and results? This is an important question to ask yourself. One thing that you do not want to be doing is wasting valuable time.
You only have so much time and resources available to you. It’s very important that this realization is a key deciding factor when it comes to deciding your areas of action and effort. Spending a lot of time on a low-probability idea might end up wearing you down and ultimately discourage you from pushing on.
Of course, it’s extremely difficult to say, as the future price will eventually validate or nullify your efforts. Even though current prices and valuations are not necessarily essential, eventually they will be. There are so many aspects to bear in mind and weigh up as you choose how to allocate your time. This particular understanding led to me taking trading a lot more seriously during this bear market.
Trading Is Not Market Sensitive
Something I mentioned in previous publications, is to be weary of permabulls. Learning to trade both sides of this market is incredibly beneficial. A solid short position has the ability to turn a crash into a bullish event. Why, bullish? Well, choosing to go short ultimately flips a market upside down. What is now devastating for buyers becomes bullish (profitable) for sellers.
Reflection upon this particular scenario, as well as many other dynamics, caused me to realize that I needed to allocate more time toward trading. Not being necessarily linked to either market direction makes trading an important tool in the hands of a Crypto investor. That being said, an unskilled trader is better off sitting this one out, at least until their skills are developed and up to the challenge.
Choosing your strategic approach is actually something that requires some serious thought. Many simply “get busy” without actually measuring what they are able to accomplish, both in the present and in regard to the future. Many Hivers have realized that their efforts carry both, an immediate reward, as well as a future return. Identifying opportunities with multiple dynamics and areas of profitability can have quite an impact in regard to how effectively you choose to spend your time.
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Final Thoughts
It’s always great to experience a sense of accomplishment, and sometimes what you choose to do and how you spend your time can have a significant impact on your sense of achievement. Not only your sense of achievement but true achievement as well. Do more of what works for you, and focus on your strengths. This will not only increase your productivity but will also act as an encouragement to keep pushing on. All the best! See you in the next one!
Disclaimer
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
This article was first published on Sapphire Crypto.
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