Discipline: The Only Superpower in Crypto

Whenever individuals mention crypto, they refer primarily to profits, coins, charts, and big dreams. There are those who claim that crypto is a luck game and there are those who claim that crypto is a knowledge game. However, the real superpower of crypto is not luck and it is not even pure knowledge as my experience and what I have witnessed around have shown me. Discipline is the actual superpower. You can know as much about trading as you wish, and buy as many coins as you want, but without discipline you will be the most likely to lose.

Discipline is just being able to control oneself. It is the skill to say no when necessary, the skill to wait when it is not time to do it and the skill to do what is wise even when your heart is telling you otherwise. The market is never wanting in crypto. Prices rise extremely rapidly and so also do they decline rapidly. The market will govern you and you will not govern what you do unless you are disciplined.

The first discipline manifested is in purchasing coins. The situation has come to many Nigerians, with myself included: you see everyone has a new coin in WhatsApp groups, Twitter, or Telegram. They assure you the coin is going to moon shortly and you do not want to be left behind. You will spend very little time researching before rushing out to buy without discipline. In the majority of cases, such purchasing is regretted as the coin is going to pump and dump. Discipline will also give you lessons to stop, to study and only purchase what you really know.

Profit taking also requires discipline. This is among the most challenging things in crypto. Suppose that you purchased a coin at N100, and it is now N500. You are in heavy profit. And greed will put his ear to thy side: "Sell not now, soon it will be N1000. This is why many people have lost their profit due to the failure to make some gains on time. I was once guilty of that. I realized that my coin was an increasing one but I did not want to sell because I desired more. The coin then fell and I was left with virtually nothing. That day I vowed to myself that discipline is the key. You make profit with discipline because it is right to do so when you are making the right profit, though it may not be the peak.

The other area where discipline holds a lot of significance is the reduction of losses. Not every trade/investment comes your way no matter how clever you are. Occasionally the coin will fall and will never bounce back. People keep dead coins because they do not want to be seen as losers. However, discipline enables you to accept the truth and take your losses early in time before the situation escalates. This is not a simple task but it is much better than seeing that money disappear altogether.

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The level of investment in crypto is also regulated by discipline. Life is hard in Nigeria already with bills, food and obligations. Without a disciplined mind, you can deposit school fees, house rent or borrowed capital to crypto hoping that you will multiply it. You will be under severe pressure in case things go wrong. Discipline implies that you only invest to lose. Then at least with coin drops you are alive. This act of discipline alone has rescued several individuals the unnecessary heartbreak.

Discipline is also required in terms of overtrading avoidance. Several traders are not able to sit still. They crave to sell every minute, every day, and to gain little in terms of profit. The more you are trading without patient the greater the possibility of making mistakes. Discipline makes you wait till you get the right set up, the right entry and the right time. No trade is at times better than no trade.

Besides that, discipline refers to controlling your emotions. The two greatest threats to crypto include fear and greed. Panic will cause you to sell prematurely. Greed will deny you the opportunity to sell when you should. Both will ruin your path. But discipline keeps you down. You do not allow emotions to drive you around. You stick to your strategy, even in case the market attempts to mislead you.

Learning also comes with discipline. After one or two losses many people quit crypto with a lot of excitement. A disciplined individual will never give up. Instead he learns through the mistakes and continues getting better. On several occasions, I have encountered moments when I wanted to quit because discipline made me stay on course. I told myself that nothing is perfected in a day.

The other thing I have also realized is that discipline creates consistency. Nigeria is familiar with the concept of consistency in all things such as saving money, running a business, and even attending school. In crypto, consistency is that you do what you do on a regular basis, not only once in a while. Whether you have a rule to make profit at a particular level, you stick to it at all times. You will keep a rule that you will not spend more than a particular sum of money. This is how discipline becomes outputs.

Lastly, it is discipline that makes you peaceful. You will never be at peace without it. You will be leaping on coin to coin, following hype, and losing sleep charts. But when you are disciplined, you invest sensibly, you make a profit rationally, you trim losses where you have to, and you are aware that your life is not pegged on one coin. Peace is better than all other things.

Finally, it might seem that crypto is an area of good fortunes and great ambitions, yet the real superpower is discipline. It dictates your purchasing behavior, selling behavior, the way you deal with losses and your emotions. It will not allow you to commit mistakes and develops you in a constant way. I, as a Nigerian guy, can tell that lots of us get into crypto with hopes of changing our lives. So, that is good, and without discipline, it will be painful. Through discipline, the process might still be difficult, but it will be a wise, peaceful and more successful process.