Your favorite crypto doesn’t know you’re its holder.
No matter how long you’ve had it, it doesn’t know what price you bought it at, it doesn’t know how many times you defended it when someone talked badly about the project—and it definitely doesn’t know you’re waiting for it to return to the price where you bought. But we do know, and that’s where the problem starts...
Traders buy for:
FOMO.
A piece of news.
Because someone said it could do 10x.
Because it dropped 80% and “it can’t drop any more.”
Because we fall in love with the project.
Or simply because we want to get back what we lost.
Over time, a position can stop being an investment and become something you feel you have to defend—until an uncomfortable question comes along...
If today you had that money in USDT, would you buy that same crypto again?
If the answer is yes, great. But you should be able to explain why without mentioning how much you’ve lost, how long you’ve been waiting, or how much you like the project, because those things describe your past—they don’t necessarily justify your current decision.
The enemy isn’t having a favorite crypto. The enemy is stopping to question it once it becomes your favorite.
And maybe that’s one of the most important differences between having conviction and simply being stuck in a position.
No matter how long you’ve had it, it doesn’t know what price you bought it at, it doesn’t know how many times you defended it when someone talked badly about the project—and it definitely doesn’t know you’re waiting for it to return to the price where you bought. But we do know, and that’s where the problem starts...
Traders buy for:
FOMO.
A piece of news.
Because someone said it could do 10x.
Because it dropped 80% and “it can’t drop any more.”
Because we fall in love with the project.
Or simply because we want to get back what we lost.
Over time, a position can stop being an investment and become something you feel you have to defend—until an uncomfortable question comes along...
If today you had that money in USDT, would you buy that same crypto again?
If the answer is yes, great. But you should be able to explain why without mentioning how much you’ve lost, how long you’ve been waiting, or how much you like the project, because those things describe your past—they don’t necessarily justify your current decision.
The enemy isn’t having a favorite crypto. The enemy is stopping to question it once it becomes your favorite.
And maybe that’s one of the most important differences between having conviction and simply being stuck in a position.
