Dan Hollings Timely Advice… ‘Do Nothing’! What Does That REALLY Mean?
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The following is an edited version of the video transcript…
Hello, this is Jodie here. If you’ve been researching The Plan and listening to Dan Hollings talk about “do nothing” and you’re a bit skeptical, and you’re wondering what that means, I’m about to show you a real get down and dirty reason to “do nothing”!
And that is in this recent dip in the market. So here I am with five bots and I have four of them out of range.
I have one of them that is down 25%. That’s in the red, and this is what Dan talks about when he says”do nothing”. So let me actually show you this particular bot, the one that is out of range and down in value as well.
So what happens is when, let’s say in the stock exchange and the market crashes, generally, what happens is people will go, oh my God, I need to get out! It’s not working! So what happens is people will be like, oh my God, I’m losing money! Let’s just cut our losses and get out. I mean, this is a major market dip. So it dipped down below the grids in these automated bots. And when Dan says do nothing, this is the exact time that we do nothing.
This downward turn is not going to last. If I’d shown you my screen, and I think I have shown the screen previously, I had a lot more total P&L profit here. But this is the epitome of a down market. I’ve got one bot that is still actually paying rent. It’s still active. It’s still making money, but four of the five are out of range.
This is where we get to practice the actual test of doing nothing. I just need to leave it. This market is not going to stay down. It just did a massive dip and I need to make a promise to myself that I’m not going to freak out, and I’m not going to change anything in what I’m doing. I am literally just going to let it be. So that’s the do nothing that Dan Hollings teaches in The Plan.
In fact, Dan’s right hand man, Ian actually has on his desktop, the Beatles song “Let It Be” because that is what doing nothing is really about. So if you’re thinking, look, you know, how can you just do nothing if you’re getting into this space? This is about investing and, you know, you need to look at your bots!
I can show you here that I have done nothing. With three of my bots that, well, one of them is almost three months. The other two are over three months. One is almost a month old. The other one is 11 days, nearly two weeks old.
I am going to take the advice and the rule of doing nothing, because I know that this market will go back up. Now, thankfully I did actually pick up the extra Bitsgap account so I can go and start a new bot to capture this down market and get a little bit of an upturn, a little bit of extra profit with that. But that’s a whole other story.
I just really wanted to say, you don’t need to dread the red as they call it. If it’s a blood bath, as in lots of red showing and you know, even orange being out of range, this is where you apply the rule. So I hope that helps.
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About Nat n Jodie
Hi, we’re NatnJodie, full-time travelers, international house sitters, and lovers of crypto!
In 2012, we lost everything in a business startup in Dubai. Instead of going home to Australia, we started our full-time traveling lifestyle as international house sitters… with just $300USD to our name!
For 10 years we created digital products in the house sitting & the travel space, including our House Sitting Academy Program, and our Amazon Best Selling book “International House Sitting”.
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