The unseen enemy of profits: Boredom

It’s usually said that either fear or emotion is the enemy of profit. These are the obvious ones: making dumb decisions, getting too hyped, selling at a loss - all of these are examples of one or the other. A much more subtle, nefarious enemy is one you might not realise: boredom.

During a bear market, you can feel so worn down and numb that you check out of the space entirely. Just look at how dead the daily can get, even when we’re up compared to the start of the year.

When you’re bored, you can take your eye off the ball, get lax with your DCA and lose focus on the dips that could turn a small profit into a large one. You could also stay in ailing or failing projects because you haven’t been keeping abreast of their development.

It’s been said that bull markets make you wealthy and bear markets make you rich. In essence, if you lose interest and only invest during a bull market, you’re never going to get the returns that you’re hoping for. It can be tiring to stay in the space when it looks like things aren’t moving forward, but if you really want to succeed, you’ve got to fight off that boredom and keep on top of your investments. You’ll thank yourself for it.