Previously, when I saw a screenshot of a large on-chain transfer, my first reaction was, "Smart money is moving, I'll follow." Now I pause and think, does this information have anything to do with me? Or am I just itching for an excuse to add positions.
To be honest, it's really hard to tell. Emotions can disguise themselves as information, especially that sense of urgency like "if you don't get in now, it'll be too late" — it feels so real. My crude method now: when I feel like chasing a pump, I force myself to postpone the trade until the next day. After a night, that impulse usually fades. If I still want to act, at least it means it's not pure impulse. Anyway, it's my own money. Rushing for a day or two won't make much difference in profit or loss.
Previously, when I saw a screenshot of a large on-chain transfer, my first reaction was, "Smart money is moving, I'll follow." Now I pause and think, does this information have anything to do with me? Or am I just itching for an excuse to add positions.
To be honest, it's really hard to tell. Emotions can disguise themselves as information, especially that sense of urgency like "if you don't get in now, it'll be too late" — it feels so real.
My crude method now: when I feel like chasing a pump, I force myself to postpone the trade until the next day. After a night, that impulse usually fades. If I still want to act, at least it means it's not pure impulse.
Anyway, it's my own money. Rushing for a day or two won't make much difference in profit or loss.