Economic heroism on the dip

in LeoFinance20 days ago

I woke up this morning to a hundred messages in a Whatsapp group that was set up with the new crypto investors from work. Obviously, this was about the Bitcoin Dip that saw a swing of about 20% a couple hours ago, but unlike a few months ago, there was a different attitude involved. A few months back, it was concern and this morning it was - buy the dip!

It is interesting to see how quickly people's attitudes change toward something once they have a little experience with them and have then set up some kind of expectation about the future. Prior to investing into something, the average person doesn't have much understanding on what is required - I see this like a sport, where people can be interested in a sport, but it take input in, skin in the game, into be able to learn enough that decisions can be made as to whether it is the right sport for the player or not.

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As a kid, I played a lot of sports and even that now I am older, far less flexible and do not have the speed or agility that I once did, give me a bat and ball of some kind, and I can do something with it. I am not saying that I will be great at everything I pick up, but I will likely be proficient enough that even with a pretty good player, I will likely hold my own, if my asthma allows.

This is because of the wide range of past experience that has trained my body to move and react according to the conditions. Mental behaviors are the same, including those of emotional reaction, where we learn to position ourselves in the environment based on the environments of the past. When it comes to the mindset of investing and trading and especially in crypto where 20% swings happen in the space of hours, building the right psychological habits is an imperative and those who don't, are likely going to suffer.

Not only are they going to suffer, when the opportunity comes for them to make a move, they are more likely gong to be caught flat-footed, which means unable to move in the right direction quickly, umming an ahhing over what to do, unwilling to pull the trigger - take the shot.

It is funny, thinking back to myself as a kid who spent many hours practicing various sports alone, including ones I wasn't that interested in. I would imagine myself on the field of play, seconds left til the final buzzer, one opportunity to take the shot for glory. I assume that many kids imagine these kinds of scenarios and I suspect that part of it comes down to our social nature and desire for recognition in the peer group, the desire to be someone's hero. I don't think this goes away as we get older and I think any parent could likely connect with this, wanting to be some kind of hero in the eyes of their children - a person recognized for their skill and result to improve the lives of others.

However, heroes have to possess the right skills at the right time in order to be able to play the role well, they have to be able to read conditions, step up to the plate and take the swing when they must. If the opportunity arrives and they are lacking what it takes, they will not be able to step up. This includes the ability to jump into the fray, without hesitation or being frozen by fear of personal injury. It is not that the risks aren't acknowledged in the moment, it is just that they aren't restrictive to the point of inaction.

I see the opportunities in the market dips of today like this, where in order to take advantage, there has to be the ability to do so, the resources available. But on top of this, there has to be the willingness to take on personal pain, to risk the body, the capital, and open it up to the potential for loss in order to take advantage of the situation, to be the hero.

Many will say that a hero does what they do for others, but I don't think that is the case at all, they do it for themselves. They do it because they can do it, they do it because they possess the right skills, they do it because they are compelled by some sense of duty or need to do it, they do it because they do not want to face themselves if the do not do it.

When this is applied to investing, it is the people who say "I coulda, shoulda, woulda" who are the ones who didn't have what it took in the moment, who didn't have the required resources available, whether they be financial or mental conditions. The hero, even in failure, can say that *"at least I tried."

I am no hero.

As a kid I played many positions on the sports field competently, I played a few very well, but I was someone who hesitated to take the shot, because I didn't want to stand out. While I imagined myself as the buzzer beater, it was rare that I took the opportunity - I didn't have what it takes.

But, experience matters and I think every one reading this today has imagined themselves as the economic hero of some kind, a person who has been able to successfully take the risk and end up in a position where money no longer matters at all, it is just something that is there. Some dream of Lambos and mansions, some of fame and recognition, some just want to be debt-free and enjoy the feeling of not having to worry about the grocery bills.

For most, it is just a fantasy - no matter how many opportunities they get to take the shot.

Taraz
[ Gen1: Hive ]

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I love the Market! It's was hard to train myself to buy in the red, because it seems so wrong, but, I have learned from a couple cheap mistakes. I was not huge on crypto either, but, bought some because one of my teens was mining it. A few years ago...

I always enjoy reading you and always do. Just know that I don't always have anything to add to the conversation, so I might leave a vote and leave, but, rest assured, you and @Galenkp have this whole writing thing totally locked down. There are a few more, but, you both are so prolific, you being more. :)

Thanks again! Have a great week ahead!

Thanks @dswigle. We're just a couple of knuckleheads with a few words to say here and there. Lol.

Thanks for the mention and your support. It is greatly appreciated.

I'm probably the knucklehead element of the duo to be honest.

But ... but... you have bigger toys. That has got to count for something!

Lol...Well, to be honest I was afraid to say anything bad about one of hive's most prolific and respected operators, @tarazkp. Who knows what would happen if I were to do that...The hive may turn on me and lynch me! 😂

Let's just say I'm more awesome on the sly and keep it our little secret.

HAHA! I just saw this! We love a little @tarazkp! Oh, wait! Is that the lynch mob I see?

Run for the hills!

I've always perfectly timed my moves, Taraz. I've never bought green, never. Oh yeah, and I only buy in the red and I've never made a mistake like misplacing a decimal or anything amateur like that. Panic sell, mios? Never.

:D

I have made so many mistakes it is unbelievable - when will I learn? ;D

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Line goes up, I hodl. Line goes down I hodl.
The market is all about sentiment, and I'm smart enough to know I'm not in the discord groups where sentiment is decided.
Do the research, buy the fundamentals and hodl.

Yeah - it is pretty interesting how manipulated it all seems to be - until you realize how manipulated the "real" markets are...

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I'm fine at least - A little lighter at the moment, but fine nonetheless :)

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I used to dread red market but now I love it. Just this morning I got some 30 LEOs. So cheap right now! Feels like a heroic move ;-)

When BTC dips, it takes down many with it. That's when you have the chance to invest your precious money and make it more precious by getting crypto. Become a hero, take the shot.

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A great time to catch here and now :)

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That's right @cranium.leo. It's just perfect!!

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It requires being ready to take advantage at these dips. They are pretty regular, yet most people get caught out each time, like it is a surprise.

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LMAO, so true, n00bs!

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Taking advantage of today's red day in the world of cryptocurrencies, I managed to replenish my stock of BNB. But, I think this is not the end of the fall, so I'm still waiting for the moment to buy some more HIVE.



Link to vote for @cranium as a witness

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BNB is a hot toicket itm at te mo, especially as everyone seems keep to harvest so often: :)

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Exactly. After childhood in the village, I could not think that it would be so pleasant for me to harvest.

! ENGAGE 20

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I love this. I swear for me...It's living dept free. I love your illustration of Heros. I recently became a doctor and from my experience working with actual heroes in the medical field, I think I can agree with you. The thought of wanting to be a hero can stop you from being a hero when you need to be

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I think the wanting is a problem, as one starts to warp the conditions mentally, looking to accomplish a result that might not be possible.

Congrats on your graduation. How do you find the work so far?

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Well I'm waiting to be deployed to a hospital right now. My university is slowing down the process.

Some of us have had to replace the some doctors even as students because of the pandemic...so that has been a stressful experience so far.

Fear of buying in red time
but I hope this is the dip

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The only time to buy is when the market is bleeding :)

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i think being in the crypto scene long enough makes one excited about red days like this one. people are seeing losses while I am seeing opportunities.

i am not particularly big on playing the market. i find it interesting when things go up and down. for me, I have found a space where I can thrive. my concern is more about creating content and understanding this space more.

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There are plenty of opportunities daily, but when there are big drops, it is like having a multiplier effect.

I think that the more you understand the space, the more investment you might be wanting to put in :)

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I really want to learn from the red market, I have done a bit and I am nervous about a mistake. however it is the best option in Venezuela

It is not a game for everyone, though it is open to anyone to play. Learn all you can.

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there has to be the willingness to take on personal pain, to risk the body, the capital, and open it up to the potential for loss in order to take advantage of the situation, to be the hero.

Very few people are willing to do this, they want the fast track, easy path to wealth. We live in world that tells us that our comfort is "guaranteed" and "risk-free". What a trap. Real wealth is by taking calculated risks where the outcome is NOT guaranteed.

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Sorry that I have not been around as it has been hellish here the last couple of days.
That's why I can only get to you now near midnight.

That photo of smallsteps is a master piece.

In my case the hero scenario is for fools and I have always since small adopted a no care attitude. Maybe it was because I was a single parent child and had to endure merciless taunting from the other kids. Their favorite was that I was so ugly that my father ran away.

By grace I was a good long distance runner and I made the mistake to beat the school champ in a race. By far. Let me just say that I have never entered a race again because the champ's father wanted to kill me. So yeah, one learns about life and one has many dreams.

But a dream is like a thought. If it is not clothed in action it remains just that. A dream or a thought.
You seem to have things well worked out and I can definitely say that I tried, as we are debt free.
But as far as riches goes, yes I want the money for the charity so that we can do bigger things and so I have clothed my dreanm in action by working in Hive, Every day.

Yah same happened to me I was quite shock but I I have a thought that market will recover song and I hope so It does

Your image that level of cuteness is unfair how is anyone meant to resist that without looking like a terrible person XD

give me a bat and ball of some kind, and I can do something with it.

So can I but not necessarily what they're meant to be for ^_^;

Nice to see your crypto colleagues getting into the swing of things ;D