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I'm sure there are a bunch of posts like this today and I'm sure you all are getting sick of hearing it. I am TRULY sorry. I'm usually VERY self sufficient, but I NEED reassurance today. I tried not to post this, but I couldn't help myself.
Been trading for around a year (crypto anyway, some pennies/forex for a few years back in college), wasn't until past few months that I started seeing REAL profit (like most I imagine...). I lost lots by panicking on those red days back in June. It turns out I don't handle this sort of pressure well. Not well at all...
Knowing this, I was going to move into fiat a few weeks back in preparation for the scaling issue FUD and corresponding dump, but I decided that I had the intestinal fortitude to keep a portion of my portfolio in small cap coins, dumps be damned. At first it was 1/10th, then 1/4, and by the end of June I was gobbling up shitcoins like hungry hippos eat white marbles, constantly telling myself "bah, I can handle any losses knowing that they are only temporary". I have about 1/2 my portfolio in low cap alts.
I was WAITING for today, for something FAR worse than today, for the mythical 1500-1800 everyone keeps talking about, the pools and pools of blood flowing like a river through the streets, yet I'm already freaking the f*ck out. It turns out my hands are not strong. Not even a little. They're like little baby hands that shake like leaves at the first sight of a daily close below 2200.
BUT, I should continue to hodl at this point right?
I have patience, I'll hold for years, that's not a problem, but my imagination has me thinking that the cryptobubble just burst and we'll never see prices like the past few months again. Just somebody PLEASE tell me this thought is stupid and completely without merit. That I'm not the only one hodling. To uninstall Blockfolio so that I'm not constantly grabbing my phone. That we will see 3k again by the end of the year. That it will all be OK in the end...
I'm also open to any suggestions you vets have on how you get through these times. Experience?
T.
Been trading for around a year (crypto anyway, some pennies/forex for a few years back in college), wasn't until past few months that I started seeing REAL profit (like most I imagine...). I lost lots by panicking on those red days back in June. It turns out I don't handle this sort of pressure well. Not well at all...
Knowing this, I was going to move into fiat a few weeks back in preparation for the scaling issue FUD and corresponding dump, but I decided that I had the intestinal fortitude to keep a portion of my portfolio in small cap coins, dumps be damned. At first it was 1/10th, then 1/4, and by the end of June I was gobbling up shitcoins like hungry hippos eat white marbles, constantly telling myself "bah, I can handle any losses knowing that they are only temporary". I have about 1/2 my portfolio in low cap alts.
I was WAITING for today, for something FAR worse than today, for the mythical 1500-1800 everyone keeps talking about, the pools and pools of blood flowing like a river through the streets, yet I'm already freaking the f*ck out. It turns out my hands are not strong. Not even a little. They're like little baby hands that shake like leaves at the first sight of a daily close below 2200.
BUT, I should continue to hodl at this point right?
I have patience, I'll hold for years, that's not a problem, but my imagination has me thinking that the cryptobubble just burst and we'll never see prices like the past few months again. Just somebody PLEASE tell me this thought is stupid and completely without merit. That I'm not the only one hodling. To uninstall Blockfolio so that I'm not constantly grabbing my phone. That we will see 3k again by the end of the year. That it will all be OK in the end...
I'm also open to any suggestions you vets have on how you get through these times. Experience?
T.
Based on what you wrote I suggest to quit immediately. Emotions should not drive your investment or speculation decisions (crypto is the second one). Maybe it will go up or go down. Nothing sure. Any one saying it will surely go to either direction in a certain time frame is just saying it. There can be various opinions but nothing is sure. These are just opinions and the most important one is your opinion. Panicking is not a solid ground and is not an opinion. Asking others to tell you what to do is just a blind ride. Nothing more than gambling. Others influencing you is not necessarily a bad thing but you need to understand your own decisions. I am not saying to quit because I think this market will go down. Maybe it will go up right after you quit. Maybe. The important point here is that you are not on a solid ground in your head. Take a neutral position and think through what are you doing.
Other thoughts:
- 'I never held enough for it to affect me too much': you should never speculate with more money than you are willing to lose. It seems like you do.
- If you are here for the long term and you are not happy with the prices declining then saying 'I am here for the long term' is just to reassure yourself. If you are a long term buyer of any given asset at any given time then you should be happy about the asset getting cheaper. If you are not then be honest with yourself.
