I’m honestly excited to see where bitcoin goes over the next several months and years as the opportunities are adopted by a wider audience and the technology evolves. Nevertheless, I think it’s a prudent time to review some timeless pillars of investment success:

Process over outcome. Every now and then you can cut corners and come out with a win. But that may ultimately be a function of luck rather than skill. Sticking with a tried and true process is always more important to long-term success than attempting to strike it rich quick.

The assets change, but the psychology remains the same. The hard part is reigning in your emotions and entering new investments using the same framework of risk and reward that comes with every behavioral decision.

Stay humble or the market will do it for you. There are going to be those that claim to have it all figured out. That boast of their gains or attempt to make you envious of their strategy. Stick with what you know and what you are good at. Karma is a bitch. They will get what’s coming to them.

The bottom line is that investing will never be easy and you must stay diligent with whatever system or process has proven to be successful for you. Draw strength from the fact that you know your limitations and can sleep well at night with the level of risk you have on the table.

This article was republished with permission from FMD Capital.