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/biz/ - Business & Finance

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28819672 No.28819672 [Reply] [Original]

>lost 20k in a blink of an eye
>dont feel anything
seeing red all over my portfolio did nothing to my psyche. I dont know why

>> No.28819914

You get used to it.
If you stress about volatility you'll never make it in crypto. I also fully expect to lose most of my current gains at some point, I'm prepared.

>> No.28820046
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28820046

>>28819672
>IIIIIIIIIIIII HAVE BECOME COMFORTABLY NUMB

>> No.28820418

>>28819914
Actually, I wasn't like this last time. In late 2017 I basically made ALL the noob mistakes. I waited too long, FOMO'd in near the top, panic sold the dip, FOMO'd in again at the very top. The one thing I didn't do was sell the bottom again. I held, and my LINKies stem from that.

I think it had to be like this. I couldn't make it last run, I wasn't ready. But I learned my lessons, and this time I know better.

>> No.28820681

Wait until your stack is swinging 6 figs on a daily basis, it still feels like nothing

>> No.28820815

>>28820418
please enlighten me with some of your learnings

>> No.28820830

>>28819672
dont bet your life on crypto friend, put away the amount you need and go balls deep with the funds you think you wont need. I made enough to pay my debts, put that away now I feel nothing when it dips 30%, I just buy it up

>> No.28822077

>>28820815
It's not anything groundbreaking, and /biz/ is filled with people who are much more capable than me. A lot of preventable mistakes come down to psychology, and you just need to learn to be rational and control your emotions. "Buy low, sell high" is how you make profit, but it is very easy to end up doing just the opposite, which is how this game works.

>Buy when nobody else wants to. Bit late for this one now for general crypto.
>Sell when nobody else wants to. This will be of relevance at some point during the coming year. Greed takes over, you don't want to sell because you made 10x and maybe you'll make that again and then you're rich! So many people here have been millionaires on paper and rode that all the way down again. It's better to be a month early than a week late.
>Realize when an opportunity has passed you by, accept that you didn't make that one. There will be others, you don't want to FOMO into something that has gone 10x last week, no matter how much everyone is shouting about going to the moon.
>It's probably better to roughly time your entry and just hodl rather than swing trading all the time
>Don't obsess over your portfolio balance. You really don't win much by refreshing it every 5 seconds. It'll get to you.

If I had to distill it
>Be patient, have a plan, stick to it.

>> No.28822560

>>28819672
what the fuck is everyone holding?
Im just over 110k & I had a $500 dip