Right decision at the Right time?
For the past few months, I have been observing one of my picks, and frankly speaking, I guess that I have found the bottom but there was always doubt on my mind about whether I find the bottom or not, so I did not decide to go all in it. Anyways that asset has jumped more than 40% in a month and it put a question on my mind whether I missed making the right decision at the right time?
Anyway, I am not going to regret that unrealized gains as it is almost impossible to predict the top and bottom of any project. Instead, I am happy that it bounced back because it gives more value to what I am holding. Since I believe it can go up further before getting the correction, I will be going for a slow buy mode until it reaches the point where I can consider it as a good selling point to realize my gains. Even though I can consider a missed opportunity, my belief in the below points is still strong.
Keep researching for good projects.
I guess everyone has a different definition of a good project, but in my mind, I have a very simple definition like if there is "measurable" development, there is community and the project is not losing its sight of the goals.
Don't risk your assets.
Just like the top and bottom of the market, our analysis of good and bad can be flawed so there might be points that might missed or considered, So we should not overexpose ourselves to one particular thing or project and ignore others.
Keep some liquid assets.
Having some liquid money is always good because it will help you take position whenever the market dips. A few of the opportunities I missed due to not having liquid assets/money in my account when I saw some good opportunities.
Wait for the correction.
If you believe that coin/token overshoots the price, then it makes sense to wait for the correction of the token. To be more apt, I guess Dollar cost averaging perfectly helps in these scenarios as again dip and top cannot be determined, and buying a little every week reduces the risks.
My 2 cents.
I believe that the cycle can repeat itself, so it is always better to be prepared, researched, and keep learning. Any action taken due to FOMO might bring financial loss and affect the mental well-being.
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