5 Habits to Add to Your Daily Routine From Crypto Moguls
BY Chris Andreou|November 9, 2021
Crypto trading isn’t for the faint of heart. It requires focus and a degree of discipline to read and react to any market changes while standing firm in the face of FUD and hype. By having a proper daily routine, you’ll be able to centre your thoughts and prepare yourself for the day ahead.
Browsing through the feeds of crypto enthusiasts will show you a glimpse of how they go about their day. You’ll find that the daily routines of successful people, especially those of crypto moguls, vary widely.
From waking up early to meditate to constantly learning something new, we’ve rounded up 5 interesting daily routines and habits shared by a few of the biggest names in cryptocurrency.
1. Wake Up Early and Meditate
Create space within and it will relax you. Blockchain entrepreneur and KODAKOne co-founder Cameron Chell went from homelessness to building a $100 million business. When asked by Forbes for his advice to startup founders, he gave the same guidance that he gives to his son:
- Wake up early, meditate, think big but do small acts — just what is in front of you — and keep your ego in check by doing something of service every day. “You do those and everything, I believe, will work out right.”
Get into the habit of practising deep breathing. Doing this first thing in the day and the last thing at night will keep you healthier, more focused, and relaxed.
2. Exercise Regularly
The Oracle of Omaha and investor, extraordinaire, Warren Buffett, tries to exercise every day to counteract his not-so-sensible diet, which includes drinking five cans of Coca-Cola every day, combined with McDonald’s sausage patties. In the film ‘Becoming Warren Buffett’, he likens his body to a car with this smart analogy;
“Imagine you’re going to be given a new car. Any car that you want is yours. It will be at the front of your house with a bow on it when you get home. There’s one catch. That’s the only car you’re ever going to have in your life. So, you better take care of it.”
3. Ask for Forgiveness
Co-founder of Ethereum and founder of Consensys, Joseph Lubin, says that people in his organisation are encouraged to act if they see something that should be done. This can sometimes mean there are lots of opportunities to ask for forgiveness if any action that is taken suddenly impacts other people or other potential goals.
- “The company is called Consensys, and so we do try to form a consensus amongst anybody who would be impacted by some event or some decision, and some of those decisions impact the entire organisation,” he told CryptoPotato.
4. Continue to Learn
Vocal crypto investor and the co-founder and chairman of Rosemont Group Capital, Frederick Achom, recommends steady and constant learning, especially when it comes to cryptocurrency.
In an interview with Disrupt, he said, “Invest a lot of time in research and study. The market is very dependent on market sentiment, so follow lots of news available through specialist news platforms and Telegram/WhatsApp investor groups. Utilise SA (sentiment analysis), TA (technical analysis) and of course, FA (fundamental analysis) for trading and investment decisions.”
More importantly, he advises, “Learn to learn.”
5. Take Advice With a Grain of Salt
Chris Larsen, Ripple co-founder, who was named by Forbes as the wealthiest person from cryptocurrency in 2018, says one of his biggest life lessons has been learning to trust instincts over advice.
“I think that is one reason that a lot of new ideas just don’t get going right from the beginning, so you almost have to suspend reality and not listen to people you respect — otherwise you’ll never do anything,” he said in an interview with Nielsen.
Once you get past that obstacle, he says, surround yourself with supportive people, preferably those who will follow your vision and bet their future on you.
Craig Cobb, professional trader and host of the popular Trader Cobb Crypto Show podcast, said “Every successful trader I know has one [a daily routine]…when you start your day, you’re looking to be in the best possible space to make the right decisions consistently.”
Remember, whether you’re a beginner or experienced trader, it’s important to have an established set of steps to follow to help avoid potentially costly mistakes. Do your research, manage your risk, work on a winning strategy, and don’t forget to relax and unwind.
You can be trading in just minutes with some of the lowest fees and best trading conditions you’ll find anywhere. To apply your new learnings, open a VIP Black trading account with $0 commissions per lot and tightest spreads. This gives you access to the industry’s lowest-cost trading environment. Sign up today at www.tiomarkets.com
Risk disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Never deposit more than you are prepared to lose. Professional client’s losses can exceed their deposit. Please see our risk warning policy and seek independent professional advice if you do not fully understand. This information is not directed or intended for distribution to or use by residents of certain countries/jurisdictions including, but not limited to, USA & OFAC. The Company holds the right to alter the aforementioned list of countries at its own discretion.
Cómo Hacer Trading con Oro – Guía Paso a Paso con Ejemplos
Si te preguntas cómo hacer trading con oro, solo tienes que seguir estos pasos: Ingresa a la plataforma de trading de TIOmarkets Crea una cuenta de trading Elige un mercado para operar Ab...
15 Swing Trading Mistakes and Key Lessons
You want to learn how to become a successful swing trader? Then learning from others’ common swing trading mistakes is the first step. So you want to try out swing trading. And you think tha...
Naked Forex Trading ‒ Should You Try a Price Action Trading Strategy?
Naked Forex trading ‒ which is also referred to as price action trading ‒ is a style of trading not often brought up in contemporary trading conversations. It involves buying and selling curr...
[missing - riskW]