Buy the dip, buy the dip, buy the dip.
It’s advice we all know but don’t always follow.
It can be painful to watch when stocks and cryptocurrencies are down, let alone invest more money.
Why would you want to invest in something that continues to break your heart and go down?
Because it’s going to bounce back.
One of the stocks I’m most bullish on is Tesla. It hit $1,100 and fell into the $700’s. Sure, you could be scared and want to run, or you could add more.
One of the cryptocurrencies I’m most bullish on is Solana. It dipped to the $70 mark, and I loaded up. Now it sits at $94.
There are going to be days when your account will hurt bad.
That’s okay! It’s completely normal.
If assets only ever went up, we’d all be millionaires by now, and the world would be incomplete chaos because no one wants to work.
Some days you’ll be down 10%, other’s you’ll be up 15%.
It’s a matter of holding through the storms and looking back on your discipline five years down the line.
How do you think Tesla and Bitcoin holders feel?
Those who bought a Bitcoin at $5,000 in 2020 are up to $35k.
Those who bought Tesla at $500 pre-split are up about $2.5k per share.
Buy when assets you love are on sale.
Hindsight is a pain in the ass, and you’d much rather look back on your inaction (to hold) rather than your action (which would be to sell).
We all may wish we had bought at lows because a rocketship was coming.
These rocketships and bull runs will happen in waves during your investing career. Don’t be discouraged when they get beat down because these are often the most significant opportunities to add more to your position.
How to avoid missing the next bull run and chasing assets that have already taken off.
Two of the worst things you could do is get in as it’s rising or buy at the top.
Downed assets are something to get excited about. You loved them at +50% of the price than they are now. You better still love them at -50% from all-time high.
Your conviction will either make or break you. Firm conviction will allow you to weather through the storms. The weak conviction will cause you to panic, sell, buy another failing asset, and get into degenerate habits.
The long-term holders will win. Just take a look at Warren Buffett.
Whether you’re new or old to investing, the opportunity is all around you.
There’s money to be made. Patience, timing your purchases and sales, and a little luck is all you need.
Scared money won’t make money, and if you’re shy in these critical moments, you’ll have to accept that you’ll miss easy opportunities.
You work hard for your money. Investing is a way to have your money work for you. Don’t ever doubt its potential and keep your head up.