degenerate woes

[Anonymous No.9193508]

how do I get over myself not taking profits and clearing my debts off at 20k?
I watched everything bleed until 6k and lost another 5k margin trading
the nausea is killing me
I want to come to terms with how much of an utter brainlet I am and skip straight to acceptance on the kubler ross scale
is the nausea inescapable or will it just take time?

[Anonymous No.9193533]

>>9193508
>and lost another 5k margin trading

Don't fucking margin trade.

You learned your lesson, now just stack coins, hodl, and pay down your debt wagecucking.

[Anonymous No.9193551]

>>9193533
Wagecucking and HODLing is the best way to be prepared for what is to come for crypto in the next couple years.

[Anonymous No.9193554]

>>9193508
remember the lesson, not the disappointment

[Anonymous No.9193600]

>>9193508

If it makes you feel any better, I got scammed out of $20k exactly one year ago tomorrow. (20% of my portfolio at the time)

Then between the ATH and my local minimum after the ATH my portfolio dropped 80%, and I lost slightly over $1,000,000.

The first one hurt a lot more than the second because I knew that I didn't take a hit to my fundamental value, and I was just a lot more emotionally tough after almost a year of trading big numbers.

You haven't lost until you've sold (or gotten liquidated).

[Anonymous No.9193631]

>>9193600
Shut up.

[Anonymous No.9193665]

>>9193631

I'm just trying to help :/

[Anonymous No.9193691]

>>9193665
I'm sorry anon. I'm just having a hell of a time in general with finances so I took it out on you. I can't even comprehend seeing a portfolio drop that much so I just dismissed it.

[Anonymous No.9193759]

>>9193533
This. Many years ago, in my very first year trading options I was down $7k at one point, was on vacation and couldn't enjoy myself watching my contracts all bleed as the market took a heavy swing down. There was really no recovery to be had. I waited for the right moment and sold at about a $5k overall loss. This was a LOT of money to me at this point, maybe 25% of my net worth. I realized I was gambling like a degenerate and I probably deserved it. It was an important lesson.

Meanwhile, my stock portfolio which I was being much more calculated with, buying when stocks took unnecessary dips and selling at 5-10% gains, then sitting in cash waiting for the next opportunity, was up 150% on the year. It was not enough to cover my losses, since I had moved most of my portfolio to options hoping for a quick buck. But, I spent the next 7 months of the year only trading stocks and wound up actually $4k in the green at the end of the year.

I still trade options but I trade them the same way I trade stocks, and I only trade LEAPS. Making safer, more calculated trades has made me a happier trader, because I win more.

With crypto, you need to keep in mind these markets are (1) extremely volatile and (2) extremely risky/speculative. So some rules you absolutely should adhere to are (1) Never put in more than you can afford to lose, (2) Don't invest in anything where the payoff isn't going to outweigh the insane risk you're taking (i.e., a 10x in these odds is shit, look for 100x+ opportunities), (3) trying to time the market is a fool's game. Yes, you can make millions very fast with some short term risky trades in a market like this, but that is 100% luck and it'll be WAY easier to lose all your money. Don't let all these biz day trader memes get in the way of making smart decisions.

Buy things you believe in, don't spend more than you can get over losing, and just wait and accumulate.

[Anonymous No.9193762]

>>9193691

Another good tip (if you're not actively trading much) is to measure success in terms of ATH daily losses. That way when you lose money you actually feel good, but you still need gains to get you to the point where you can lose that much money.

It helps a lot with the come down from an ATH. That $1MM in losses wasn't nearly as bad once I realized I got a new ATH daily loss of $180k

[Anonymous No.9193804]

>>9193762
How did you get the capital in the first place? How old are you, anon?

[Anonymous No.9193854]

>>9193533
>>9193554
I would have thought I'd learned to take profits after the bleed
but when I saw profits of +200% at 20x leverage, I told myself I was going to close the positions at +180% but guess what?
I watched as my +200% profit turned into a -200% loss and I still tried to revenge trade my way back, losing me another 1k

do I have a learning disability or just a gambling addiction?

[Anonymous No.9193986]

>>9193854

Your problems didn't start when your gains turned into loss, they began when you decided to purse gains via 20x leverage. Don't blame yourself for not timing the market correctly. No one can do that. If I could do that, I'd be $800k richer today. But I can't so I just ride the waves, betting on the _longterm_ value of the assets I'm holding.

Rather, blame yourself for taking a trading strategy which required you to time the market to make out with good gains.

Are you young? In your 20s? Early 30s even? Do you have a good enough job to live, pay down your debt, and put a little into crypto? Then you're fine, you got a hard lesson that every trader gets at some point or another. Learn from this, and don't do the same stupid bullshit again.

[Anonymous No.9194053]

>>9193804

I'm 27, 28 in a few day.

I got $800 worth of BTC in 2013 in exchange for drawing dick art. See attached. Then I went all in on Protoshares, which eventually became BitShares. Then when BitShares got to #2 on CMC, I sold have into the first level of the Ethereum ICO. Then when the DAO fiasco happened I converted all of my eth into DAO tokens as DAO was basically a prediction market with 3 to 1 odds at that point (it was trading at a third of its trade in price), and I was pretty sure ETH was going to fork. Then I went all in on GNT early on. Since then I've diversified a lot.

[Anonymous No.9194091]

>>9193986
>blame yourself for taking a trading strategy which required you to time the market to make out with good gains
but isn't all of crypto down to timing the market?
even buying something at an ATL is a risk as it can drop even further and never recover
doesn't leverage trading just cut straight to the bones of crypto or am I mistaken?
I believe in the tech and can see it's potential but as for it's value, there is nothing to back it so all you have to go by are the waves of the market

I'm a neet uni dropout just about to turn 20

[Anonymous No.9194131]

>>9193508
I’m worth more in sats and usd right now than I was in December. What shitcoins did you have?

[Anonymous No.9194223]

>>9194091

It's difficult, and honestly getting harder, but I try to come to an intuition of an asset's fundamental value once it matures, and I compare that to its market cap to determine whether its a good time to buy. I also very rarely buy green dildos.

To get that intuition I think about what the asset and associated technology/infrastructure will actually accomplish, and how the profitability of the asset is tied into that. And then I compare that to the valuation of traditional businesses doing similar sort of work.

Of course, the value of a service thats trustless isn't the same as the value of the same service but dependent on trust... so its hard to say whether your intuition is correct or not. And even if it is, the lead dev can get hit by a bus, an unforseen technological difficulty might emerge, some political shit might go down that effects things, stronger competition might emerge, etc... So of course its still very high risk.

However, with margin trading you can have a strong intuition as to an assets fair value, but get totally blown away by micromovements touching your liquidation point. You can get fucked margin trading even if you have good intuition as to how useful and valuable an instrument you're investing in is.

[Anonymous No.9194243]

>>9194131
I was riding the december pump up to 20k with TAU, BBT, PFR, and BNTY, all of which went 4-5x
now I'm hoping HOT and 0xBTC will save me but I doubt it
I got in on HOT late at 100 and just sold my 0xBTC stack at a 50% loss
now I'm just waiting for the correction to be done with before I buy back in to it

[Anonymous No.9194262]

>>9194091
>>9194223

I also compare to the cap of other assets in this space. That way if, say, the market is trading in space when I buy into something, I'll be able to reasonably assume that I'll maintain SAT value even if I temporarily hemorrhage USD value.