Schoulda, Coulda and Woulda
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In hindsight trading is the easiest thing in life. In reality most people are loosing money. Nevertheless I try to make my educated guesses in the hope to earn some extra BTC.
Over the weekend I met up with a crypto friend. We talked for several hours over our favorite coins, trades going well and of course our trades which went south.
For example we both went deep into a trade where we thought we have a great entry. Not leaving us with any liquidity should another opportunity pop up.
Leave some liquidity
We both experienced the great bull run last year and despite we are still up, there is still this annoying voice in the head which seemingly never gets tired to remind us, how much we retraced.
No one ever went broke, from taking profits off the table
For more liquidity, investing into another asset or just to spend....I should have taken a bit more off the table.
We both are claiming to be investors but in reality we both threw money at random 3 letters already because a coin got shilled to us from someone we trusted. Which feels a bit more like we are gamblers in reality
While I am open to suggestions I feel a bit uneasy to hold a coin which I know nothing or not enough about.
Do your homework before throwing money at something
Some people love to have a portfolio of 20+ coins. I am cutting my portfolio down atm to something like 5 coins.
It makes it easier to follow the progress of my chosen coins and if I really believe in the team and their vision I win big.
Especially the liquidity thing has happened to me multiple times and this time I will not fall into the trap again.
I am fine with making mistakes but making the same mistake over and over again makes me feel stupid.
A lot of the good traders go in an out of tether so they protect the money on the dips/ crashes. The thing is though that you if you get one wrong you might never really be able to buy back in at a recent rate. If one has the ability to stay long then I think that’s the best. I think it hurts less with the coin that offers passive income, atleast then it feels like some compensation ( even though these coins usually have a higher inflation and fall faster)
I never liked to trade in Tether this much though. It felt like I am out of the market a bit.
Atm I use it a bit and transfer some gains ( I wish) into it to keep them "out of the system"
I really enjoy the passive gains coin as well.
A friend showed me halotech which I really like and I run a couple of smartnodes and of course there is Steemit.
What is Halotech?
https://www.haloplatform.tech/
Look as human nature never changes.
Thirty years ago I made the same mistakes you did now. The only difference was that I did them in the Stock Markets.
I bet in 30 years people will still do the same mistakes :-)
Did you learn from it ?
Yup always make a plan for your work or investing money in something.
I also made list of top 10 coins for future.
what are your picks?
I espeically like the last sentence of your post - reminds me of a famous Einstein quote:
Even though there are rumours it's not his quote, it is still 100% true imo.
I am thinking about this quote a lot since I am no stranger to do the same mistakes over and over again.
Probably should get a tattoo of it :-)
Everyone makes mistakes in his life. The goal is, to reduce the mistake to the minimum of it. Learning from the mistakes, like a Tiger in the Jungle. Thats brings us to the goal
signed :-)
In a bear market, finding winners is tough and small stakes are advised!
Are you cashing some out here for your portfolio?
I am restructuring my portfolio a bit but I am not really moving into fiat or so. I am still buying a bit of precious metals every month but at those prices less.
I would be okish with a bear market if I would keep my satoshi value a bit more.
Fair enough. Looking forward to an upswing but not sure it will be just yet.
You're damn right. I feel like I am broke right now. From now I will know how to act.
I hope I will act better in the next bull run but fomo is a powerful feeling.
I too have been trapped by the liquidity thing! It is often too easy to go headlong into a coin with everything only to realise you have nothing left to throw at another awesome opportunity.
I think everyone could've taken more off the table after last years bull run, but, such is life! Thanks for the post.
Yes. Blinded by greed I would say and just seeing the big potential gains it is easy to forget that things dont have to go our way. Just because a coin is low does not mean it cant go lower
Thank you for your continued support of SteemSilverGold
Trading is all about learning and experiencing the loss ;) we all get into the burning train and hope for profit sometime it pays off and sometime don't