Why It is Necessary to Take A Break from Cryptocurrency
"Rest and Be Thankful" - William Wadsworth
Rest, is exactly what I wanted after realising that the prices of Bitcoin fell 10% and the prices of Ripple fell over 30%. While not all of my investments are in loss, some significant amount is. It felt like the end of the world when I first saw my investment slumping this bad a few weeks ago. But as every experienced trader, I have come to realise that sometimes Holding your investment is the right way. Not always, sometimes.
I am not here to talk about investment strategies, I am here to talk about taking a break. I spent 15 restless hours to prepare the comparison sheet of Indian Crypto Exchanges. Spent a lot more hours on ICO analysis and finding good ones to invest. I did send a couple on them on our weekly newsletter to our subscribers as well. We are working on setting up a Mining Farm and soon start an investment plan for people who can't afford to spend INR 3,00,000 to buy their own rig. All these hours left me with not much time for anything else.
On top of that, it is a little stressful to see your portfolio falling. From being a noob to a little-more-than-a-noob, I learnt a lot of things about investments in Crypto. But in the process, I forgot what I enjoyed doing the most. I didn't write a new blogpost (unrelated to crypto), didn't write a poetry or even a short story for my blog. Most importantly I have stopped spending enough time with my family, friends or even with the novels I planned to read in 2017.
A clear representation on Cryptocurrency Traders
So this dip taught me a valuable lesson. While my crypto recovers, I need to find time for my other hobbies. After all I am finally jobless, and I need to spend my time doing something I like to do. So I picked up my favourite Author's latest book. "The Four Legendary Kingdoms" by Matthew Reilly. Before you start reading about it, you should know that although it is an independent story, there are prequels to this book.
In a matter of hours I finished half of it. I didn't open any websites to check the prices of my investments even once. So engrossed in the book I was that when my mom knocked on the door at 1 PM to wake me up (she thought I was sleeping after an all-nighter), I didn't even realise it until she shouted my name. I was up for hours and my parents had no clue. For the first time I realised how hungry I was as I hadn't had anything to eat.
A quick lunch and I was back at my book until finally I decided to take a break from it as well. The problem with books is, once they are finished you feel like it is the end of the world. Not for me though, I always have crypto to go back to. My precious Bitcoin, Ethereum, Ripple and my telegram communities are waiting for me.
The reason I am writing this blog is that there is something I realised when I didn't keep checking the prices and ways to trade today. That is "Nothing awful happened".
We traders think if we don't keep an eye on the prices we may not be able to recover losses or book profits if situations change. That is why we are on it 24/7. We do not want to miss the next rumour/news that can pump up the prices of our favourite coins. But when I didn't look at it for several hours, it didn't matter. The price went from 9 lacs to 10.5 lacs and back to 9.5 lacs on certain sites and I couldn't care less.
My break helped me realise that Crypto isn't the end of the world and it also isn't my entire world. Right before I started writing this blog, I sat with dad and talked for half an hour about his health, his day and his life. I could see the joy in his eyes knowing that his son was taking interest in things besides his computer.
I picked up my notebook and took some notes about my future plans for Finally Jobless's Travel section. Later, I texted a couple of my friends who will soon be travelling. I had forgotten to share my plans for a Dubai Vacation with my best friends. I informed them.
There is much more to do than analysing charts and increasing your bank/coin balance. I anyway find lines drawn on chart, predicting the next dip/rise stupid. People think this is like stock market trading. The only difference I see beneficial in stock market trading is that it shuts and opens at fixed times. Crypto never sleeps and with it, keeps the traders awake.
I would like to end this post and pick up my novel. Jack West Jr is ready for the next challenge. I better follow his adventures.
Guys, take a break. It's healthy and feels nice.