I started reading a book called The Laws of Human Nature by Robert Greene to learn more about human psychology, with hopes that one day, I will be able to reach a point where I truly understand myself. One of the many lessons that Robert emphasizes is that you think you are rational, but you are not. To better understand the irrational side of me, I am going to start a journal to actively track my behaviour / reaction to certain incidents, why I acted in a particular way, what emotions were running through my head and the root cause for said emotions and how I should respond if I were to encounter a similar incident again.
Here’s a snippet from the book to get us started!
“The Emotional Self thrives on ignorance. The moment you are aware of how it operates and dominates you is the moment it loses its hold on you and can be tamed. Therefore, your first step toward the rational is always inward. You want to catch that Emotional Self in action. For this purpose, you must reflect on how you operate under stress. What particular weaknesses come out in such moments — the desire to please, to bully or control, deep levels of mistrust? Look at your decisions, especially those that have been ineffective — can you see a pattern, an underlying insecurity that impels them?”
|What happened?||How did I respond?||Why did I respond that way?||What can I learn from this?||How should I respond to a similar incident in the future?|
|Price of UNI tokens fell by 40% since I bought it||I am still holding onto UNI. I did not sell it when it dropped by 20%. I did not sell it when it dropped by 40%.||Greed? Hope? Sunk costs? Nah, I know the real reason - since it already fell by 40%, might as well just hold on to it instead of stopping loss now and waking up to an unexpected run. #Feelsbadman. This is what you call fear of missing out.||CND fell by 99%. Please don’t be retarded and stick to what you initially planned. Note that I said initially planned, not your modified plan. I do not believe that you can modify your plans and stick to it because you let greed take over too easily. If certain levels are hit, you MUST execute on your plan e.g. SL or TP.||Yes, I am you so I know you do not have a plan. You need to come up with a plan for UNI and for future purchases. Sure, you might have limited technical analysis skills and that your levels might be tikam analysis but who cares man. The goal is capital preservation while also taking enough risks to grow it. Remember that 100000x of 0 is 0.|
Last modified on 11 October 2020.
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