And you're failing the test
There's nothing quite like a marshmallow - fluffy, sweet, and perfect for roasting over a fire. Whether you like them plain or flavored, there's no denying that marshmallows are a delicious treat. So grab a bag and get ready to indulge in these little pieces of heaven!
When the market crashed in 2008, it was because people were too impatient. They wanted their money now, and they weren't willing to wait for the long term. The same is true of day trading addiction and trading addiction. People get addicted to the rush of making money quickly.
Marshmallow test is a test of self-control 🎛 #
Like the famous psychology test for children, day trading is based on the idea that people who can delay gratification are more likely to be successful in life than those who cannot. The test is simple: a marshmallow is placed in front of a child, and the child is told that he or she can either eat the marshmallow now or wait for a few minutes and then eat two marshmallows.
The idea behind the marshmallow test is that the ability to delay gratification is a predictor of success. Those who can control their impulses and wait for the bigger reward are more likely to achieve their goals in life. The marshmallow test has been used to predict everything from educational attainment to job performance.
The “high delayers”—the children who were able to wait for the second marshmallow—fared better in life. These kids often went on to account using ways to distract themselves when they encounter challenges in everyday life.
How can you regulate yourself and control yourself in ways that make your life better? When you're 4-years old, one could argue it could be easier to distract yourself. But the control over executive functioning is the key.
"It's 100% The Marshmallow" 🏕️ #
Promise the kids a second marshmallow if they wait, and they'll stare at that single marshmallow until they can't help themselves and fail. And like the kids that succeeded, it's good advice to give yourself all sorts of distraction techniques for when price goes haywire.
Chat with friends. Re-read common sense articles, go back and read the thoughts of those who were involved written back when BTC was an abstract joke to most everyone. Hell, go back and read about the objections to the gold standard.
It's not guaranteed we'll be rewarded, but it is highly likely we will if we just practice patience.