/biz/ - Business & Finance

[Anonymous No.58443732]

I was here since 15k btc and chose to swing trade, short, and tried to time the local bottoms & tops, etc. I had buy limit orders, and whenever the price came near my buy limit order, I would readjust to a lower buy limit order, trying to get in at an even lower price. I had a legit addiction to continually try to time the market and get in at the lowest possible price. My buy limit would be set to 26k, then I would readjust to 24k when it came close, and so on. I also was obsessed with getting in with 2x leverage which made me paranoid to buy in at 30k, 25k, etc. "What if we retest the lows and I get liquidated?" So, my extreme risk-aversion kept setting in even though 25k would have been a fine price to buy-in on spot.

I've made practically nothing since 2022 and feel like such a fucking idiot. I legit thought I could outtrade the market and could have had about 300k+ if I had just hodl'd from the lows on spot. This was my first bear cycle (I entered the game late 2020), but God, I feel like a fucking retard for the way I handled the bear market. Just pure emotional reactions.

[Anonymous No.58443736]

>>58443732
You are right, anon. As a daytrader the urge to set lower lows once you see it going down and set higher highs when you see it go up is the worst feeling of all. My motto, thus, is "it's better to be up 10% than down 20%". Unrealized gains will always be better than loses. You should always set goals of holding and stop trying to time the market if it goes your way. If you had handled it without such fierce timing habit, you would probably have made 150k at worst. Alas, it is what it is.

[Anonymous No.58443741]

>>58443732
Thanks for posting this I occasionally think about trying shit like this reminds me to just stack

[Anonymous No.58443742]

Swingers swing. Tale as old as time.

[Anonymous No.58443760]

>>58443736
I feel stupid for "learning my lesson" so late. If I had assessed what I was doing earlier, I would have been able to correct my errors.
>>58443741
Np. I don't want anyone here to follow suit. It feels especially awful because I anticipated having 300k+ profits by now, but that never came to fruition because of my poor choices.
>>58443742
I wasn't even intending to swing for the entire cycle. My plan was to eventually buy and hold on 2x leverage at a very specific price (I was waiting for bitcoin to retest 23k before going in on 2x leverage). Had I done this at 25k instead, I would have hit a million

[Anonymous No.58443762]

>>58443760
>I feel stupid for "learning my lesson" so late. I
no i would think you learned it pretty early. Trick is to not keep doing it

[Anonymous No.58443771]

>>58443762
Thanks, anon. I've been pretty miserable lately and have been taking it out on people close to me. I'm trying to heal, and just hearing things like this puts me in a better mood.

[Anonymous No.58443789]

>>58443760
>If I had assessed what I was doing earlier, I would have been able to correct my errors.
Thing is, you're so into the gambling addiction it's impossible to catch on earlier. With how much money were you playing? I don't use big capital for the same reason. Feel like I can always control myself with small plays because neither the risk or the reward is "too huge".

[Anonymous No.58443798]

>>58443789
About 100k in 2022 and 180k by late summer 2023. I got cocky with my strategy because I made a few good trades early on. I was using all my capital and was hellbent on the 2x leverage which made me think irrationally -- I felt like I had to use 2x leverage to "make it" and wanted to get in at the lowest possible local bottom to avoid liquidation before going all in. I was convinced I can properly time the market movements, as I had done previously, and was convinced bitcoin would hit 23k in November 2023 which is where I would enter and hold on 2x leverage

[Anonymous No.58443804]

>>58443789
>you're so into the gambling addiction it's impossible to catch on earlier
Right, yes. I just had a convo with someone about this. I didn't realize what I was doing before my opportunities to continue my losing strategy were exhausted. It's just like a gambler addict who doesn't realize what they were doing until they lose all their money. Thankfully, I didn't lose any money, but for someone eyeing the charts daily for years, it feels pretty brutal to end up with exactly what I had before

[Anonymous No.58443821]

>>58443798
Using all the 100k is not even so bad a move but when you leverage you HAVE to be patient. Prevent big loses and enjoy small wins.
>>58443804
Chartwatching is the worst addiction of all this, most certainly. You wait for the moment to go in then it goes down, the good old he bought dump it shit. In all fairness, you should be glad you're at where you started. Most people lose it all or end up with a fraction of their starter capital.

[Anonymous No.58443840]

>>58443821
The ironic thing about this is that once I decided I'm done trading, bitcoin was nearly at 70k. I had in my notes to sell my entire position and open up a short at 70k, as it should be major resistance as the previous ATH. I was so emotionally stunted from having made so little gains that I decided to just ignore the charts and stop trading. Of course, everything then starts tanking after 70k -- could have walked out with good profits, but nope. This shit is really fucking with my mind, and no one in my family and friend group understands any of this, so I have no one to vent to. I legit became suicidal and no one understands.

[Anonymous No.58443846]

>>58443840
As I said, unrealized gains are better than secured loses. It's better for you to be back at where you started than be down. Take it easy, anon. Don't rope yourself for 0 net loses and gains. Use this opportunity to learn and apply what you've learnt.

[Anonymous No.58444548]

>>58443732
crypto is not for the weak willed, there a reason why the best "I made it" stories have such an appeal. If you are going to gamble, gamble strong and risky, but you have to be willing to man up to the results whatever they are.

Just like the people who are still holding to $ssnc, those fuckers scare me. Makes me wanna dip in a little too.

[Anonymous No.58444553]

>>58443846
That's what my grandma says all the time.
"It better to be familiar with a old bad one, than try to meet and dangle with a good new one."

[Anonymous No.58444571]

>>58443760
>I wasn't even intending to swing for the entire cycle. My plan was to eventually buy and hold on 2x leverage

Seems you haven't learned enough lessons. Leveragefags get the rope eventually.

[Anonymous No.58444578]

>>58443840
>midwit swingtard kills himself because he lost money from his gambling addiction
>I should have 300k I dunno what happened bro!

[Anonymous No.58444580]

>>58443732
A hard lesson to learn during such an opportune time, but a very important lesson to learn. My guess is you're pretty young still, 20's? This may be the biggest opportunity if your lifetime, but it won't be the last one. I watched 2 multi-million dollar buy and hold opportunities pass me by before I actually learned the lesson and just bought and held my way to 7 figure status.

Crypto still has a TON of room for growth. It will likely happen much slower than the past. Ignore the market - the market makes no sense right now bc it's in such an immature stage. Find 2-3 sound fundamental projects, projects which have been around for at least 3-4 years, and not only are still around but have grown and developed useful things, have active development, real partnerships, etc. in that time.

Start DCAing into BTC and those 2-3 things. Wait 10 years. You'll be fine.

[Anonymous No.58444586]

>>58443840
I get the feeling bro, But I caved and did sell at 70k, made a good profit, and it was hard since I keep thinking that I could have more and sell higher. Lucky me I didn't.

[Anonymous No.58444606]

Never daytrade without aromatase inhibitors

[Anonymous No.58444656]

>>58444586
You're on the right track, and taking profits is always wise. Exploring Peaq and its upcoming launch this year could be a smart move. I'm keeping an eye on the DePIN narrative.

[Anonymous No.58444676]

>>58443732
Can't reply to everyone, but if anyone is curious what happened to me, it's essentially this: I deal with hyperfixation and rigid thinking

[Anonymous No.58444689]

>>58444676
Don't care.

[ToadVine !kYGg7OYpTE No.58445005]

>>58443732
I look forward to you being my exit liquidity next year