Author: DaPangDun
Long-termist seems to be a very unpopular word at the moment, because most people in the circle are pursuing "opportunities to get rich quickly" and "instant wealth feedback".
In most people's cognition, long-termists are equivalent to "Holders". But Holder reflects more of an investment strategy. They are a group of people who have a "long-term holding asset" strategy; while long-termists, in my opinion, have different and richer connotations. In my heart, the definition of long-termists can be summarized as follows: 1. People who have been actively involved and progressing in the Crypto industry for a long time. This definition includes the following aspects: 1. People: a general term. It can be an investment institution, a project party, or an individual; it can be a trader who does transactions, a researcher who does research, or a technician who sells tools, and so on; 2. Long-term: reflects a kind of ideological persistence.
Many people enter Crypto for short-term behavior, thinking that they can speculate for a while and then withdraw from the circle, or make money in the bull market and leave in the bear market. Long-term investors want to go through the bull and bear markets with the industry and witness the development of the industry together;
3. Positive: reflects the attitude of participation.
Many people think of the money in this industry as "side income". Due to the lack of supervision, all kinds of "cheating and fraud" are also rampant, which is not positive for the industry itself. What I want to emphasize on the positive side is "to make money, you must make it in a proper way" and at least not have a negative impact on the industry";
4. Progress: It reflects the requirements for oneself.
We can try to introspect and see how much we have changed during the years of participating in Crypto. Focus on whether we have made progress in which dimensions, whether it is trading level, industry cognition, or circle resources... If you always stay in the same place or even regress, it will be difficult to become a long-termist in the end (because it is difficult to get positive feedback both psychologically and financially)
2. How to become a long-termist?
Because I have no experience as an "investment institution" or "project party", in this part, I will use my shallow cognition to discuss with you "how can an independent individual become a long-termist".
1. Clear positioning
Most people may have retired from the industry. Most of the remaining people are probably talking about which coin to trade every day, maybe contracts, maybe local dogs. Year after year, there seems to be not much change...
Many people who participate in this circle only set a daily goal of making money, but have not set a path goal for themselves, that is, "How can I achieve the goal of making money?"
So most people will wander around every hot spot in the market. If it is hot today, they will do it. If it is hot tomorrow, they will rush to do it. If it is hot the day after tomorrow, they will rush to find machines for mining. However, they have not thought about the scope of their own abilities and their advantages. You cannot understand any track by just reading two articles. For the same thing, others get the weight, but you are witched. For the same thing, others can mine continuously, but you buy a machine and it can't run. For the same thing, others make dozens of times more, but you lose money... In the end, I thought, forget it, just speculate. There are only two buttons of "buy" and "sell" for speculating in coins. It is simple and you don't need to think too much. But is it easy to trade in cryptocurrencies? I think it is the most difficult. Do you have a standard for screening targets? Do you have a complete trading strategy? Do you have the confidence to stick to your strategy? Do you have the ability to withstand the pressure when facing large fluctuations in the market?
Therefore, positioning is critical!
You need to think carefully about where your own strengths lie and find your own positioning.
If you are good at technical analysis, you can try to be a "researcher"; if you are good at playing with money, you can try to be a "player" or "playing with money blogger"; if you are good at trading, you can try to be a senior trader"; if you have resource advantages, you can try to be a "moderator" Of course, I am not asking everyone to focus on only one aspect. Maybe you can "have multiple jobs", but if it is difficult to do well in one aspect, it will be much more difficult to "develop in an all-round way".
Find your own position, set such a goal, work hard to do it, and see how the effect is after 1 year, no, half a year.
2. Reasonable wealth expectations
I believe that the wealth expectations of most people in this circle are "wealth freedom" and "getting rich quickly", which include the requirements for "total wealth" and "time to obtain wealth".
But, the fact is: look at the people around you who play Crypto, what proportion of them have achieved such a goal? (Note that it is a proportion, don't just look at individual cases, if individual cases don't happen to you, it doesn't really mean anything)
Go and investigate, what is the current situation of those who really "get rich overnight"? Are there many people whose final endings are not good? "Keeping wealth" is actually more difficult. There are people around me who have made 800 from 10, and finally, they are back to zero. Maybe you think this is a kind of tempering, but most people's state of mind under this experience cannot get over it.
Facing your own "get rich quickly" mentality, ask yourself: "Why am I? Am I the chosen one?"
Therefore, reasonable wealth expectations are very important. It will make you face this market more peacefully, and at the same time it is a quantifiable goal, which will make your steps in the circle more stable.
My wealth goal in the industry is to strive to reach the salary level of my traditional industry in a relatively stable manner within 3-5 years (30).
3. Everyone loves money, but it should be earned in a proper way
Everyone has different ways of making money in this industry, but not everyone thinks of "earning money in a proper way". Some people start groups to harvest group members, some people do insider trading to harvest communities, some people cheat, and some people steal.
If you want to survive in the industry for a long time, "reputation" is actually very important. Many people may not agree with this and will use some "previous big harvests" as examples. Maybe our retail investors' memories are as limited as fish, but "historical records" are always there, and it is only a matter of time before they are discovered, especially in an era of high information flow like now.
Sometimes, I feel that "excessive wealth expectations" and "lack of supervision" are the main reasons why some people "make money in an unjust way". The inability to achieve the wealth goals they set makes people start to think more about speculation or even gray things. The vague supervision makes such behavior not be effectively punished, thus encouraging this trend.
Since we want to be long-termists, we should have our own "insistence" on what money can be made and what money cannot be made.
4. Maintain a learning attitude
Many people told me that "learning is not important. What's the point of learning so much? Making money is the bottom line."
This sentence sounds fine, but think about it carefully. If you don't learn, where do you get the idea of making money? Where does the basis come from? Where does the confidence come from?
Of course, learning does not mean that you can make money, but learning can give you a better understanding of the entire industry, more basis for your own judgment, and at least a clearer understanding of how money is made and lost.
I encourage everyone to keep learning in the community/Twitter, and I am also practicing this. Although I am limited by my level, the progress brought by learning is slow, but in the past year or so, I can feel that I am different from before, and my understanding of many things has indeed reached a deeper level.
5. Refuse internal consumption
Internal consumption is very energy-consuming and will also affect emotions. My feeling this year is: try to make your body and mind simpler, and it is very important to maintain a stable mood, which can significantly improve efficiency.
Most of the internal friction in this circle comes from "anxiety caused by wealth events" and "losses caused by market fluctuations", both of which are related to money.
Therefore, reasonable wealth expectations are an effective solution.
Another simple way is to "simplify your investment", set a logic, and then trade or invest, make appropriate feedback corrections in the middle, do not change your mind every day, and do not trade randomly because of emotions.
Another point that may work is: don't care too much about other people's opinions, do what you like, don't seek recognition from others, just follow your own heart.
On the road to being a "long-termist in the Crypto industry", let us walk hand in hand!
Sanya
Alex
JinseFinance
CaptainX