How I handle crypto regret

[worldofcoins]

Regret is an inevitable state of mind in crypto at one point or another:-

why didn't I buy that coin when it was $0.50?
why did I sell this coin early?
why didn't I take profits on the way up, only to see the value fall 50% in a market crash? (a lot of us in the last crash!)
why didn't I buy the dip?
why did I FOMO and buy at the ATH and now I'm holding an unrealised loss?
why didn't I buy more of this coin?
We're all going to make "mistakes" that lead to a feeling of regret and self-admonishment.

I have a couple of strategies here to help me dampen the feeling of regret.

1. I have to realise that regret is largely based on a "maximalist"/perfectionist mindset, which is both unrealistic and unhealthy. We are attached to the notion of maximising profits. But what would that involve? It would involve being the perfect, machine-like investor. Always buying low, selling at an ATH, taking profits at the perfect time. It's an impossible standard to live up to.

If I make a profit, I compare my profits to the stock market. If you do THAT, realise you're likely "killing it" even with a "modest" 100% gain (it's ridiculous even to put "modest" here). If you can make a 10% gain a YEAR in the stock market, that's considered a success.

Also realise that the maximalist attitude is largely shaped around only hearing one side of the story of other people's trades. People boast when they're winning, and they're quiet when they're losing. Therefore, you can start to think that everyone's doing incredibly well.

2. I can only compare myself to the other me who didn't get into cryptos at all. That's your baseline to compare to. There really is no other baseline. It's damaging and outright delusional to compare yourself to the "perfect you" that always bought at the exact bottom and sold at the exact top. That you does not exist. It's a damaging fantasy that always leads to you beating yourself up about not making the most optimal decision at each and every turn. Cryptos can quickly lose its fun if you think along those lines.

Are you in profit (as in cashed out your initial investment + profits in fiat)? Then you're winning - you're doing better than the other you that didn't bother with cryptos. Congratulations. You should extinguish any regret, and actually feel contentment at your achievement. Forget the "what ifs?" - you made a decision that has made you better off financially and you've learned a fair amount along the way.

Are you holding an unrealised loss? Then know that it's unrealised and while that can be stressful, you're doing well to hold on and you can be proud that you haven't sold yet. It won't fix the regret so easily, but you have the hope your unrealised loss can turn into a realised profit.

Are you actually making a realised loss in cryptos? Of course, this is the hardest situation of all. All you can do is see it as a lesson you paid for. Nothing is without value, and you will have learned something along the way. You gave something a try, and financially it didn't work out. You may not be out of the game, so you could be in profit in a few days or weeks' time. Or maybe you've just had enough. Fair play. Know that you're actually in a big group of people. Lots of people have faced your situation and come out the other side OK. I lost a fair amount of money in Forex a few years ago. I felt crap for a while, then I stopped feeling crap. Luckily, life moves on. Actually, without that experience with Forex, I doubt I would have found any interest in cryptos - and I have profited from cryptos much more than my Forex losses - so there is that. Plus, cryptos are a LOT more fun than Forex.

I know that everything above is purely based on financial regret, and the counterargument is that "there's more to cryptos than just making a profit" - but when it comes to regret, it's almost always about money.

Those regrets are super relevant to today's market and there are also useful points we can all read and associate with. Thanks for sharing.

[ukboss]

Regret is an inevitable state of mind in crypto at one point or another. If you make a mistake than it lead you to a feeling of regret and self admonishment. So first need to remain calm. Cool mind can take a perfect decision. If you are in profit then think when you need to stop or exit. If are in lose then think how much can you afford. Never think for what is already past. Think at the moment and market. 

[flowers5]

I pretend I'm the underdog with forces of the universe actively trying to screw me over.  That way I can be a super hero of sorts fighting the evil enemy of the universe as it screw me over and makes me lose my money in crypto.  It was either that or heroin.  I even trade with a cape and mask on as well.  Wife said I get the utility belt for Christmas. 

[TomArayaSlaya]

Sometimes just dont think too much and it will help ease the pain away thats just my advice man

[Iykecollynz]

I don't think too much about it, I just think about the worst case scenario and console myself, get my mind busy with something else and get happy. Have had a lot of sad experiences with handling crypto and I think I have learnt to manage it, even in trade it is adviced to never go allow in at all times, that way one will be able to manage portfolio without regret

[gurang]

Regret is an inevitable state of mind in crypto at one point or another:-

why didn't I buy that coin when it was $0.50?
why did I sell this coin early?
why didn't I take profits on the way up, only to see the value fall 50% in a market crash? (a lot of us in the last crash!)
why didn't I buy the dip?
why did I FOMO and buy at the ATH and now I'm holding an unrealised loss?
why didn't I buy more of this coin?
We're all going to make "mistakes" that lead to a feeling of regret and self-admonishment.

I have a couple of strategies here to help me dampen the feeling of regret.

1. I have to realise that regret is largely based on a "maximalist"/perfectionist mindset, which is both unrealistic and unhealthy. We are attached to the notion of maximising profits. But what would that involve? It would involve being the perfect, machine-like investor. Always buying low, selling at an ATH, taking profits at the perfect time. It's an impossible standard to live up to.

If I make a profit, I compare my profits to the stock market. If you do THAT, realise you're likely "killing it" even with a "modest" 100% gain (it's ridiculous even to put "modest" here). If you can make a 10% gain a YEAR in the stock market, that's considered a success.

Also realise that the maximalist attitude is largely shaped around only hearing one side of the story of other people's trades. People boast when they're winning, and they're quiet when they're losing. Therefore, you can start to think that everyone's doing incredibly well.

2. I can only compare myself to the other me who didn't get into cryptos at all. That's your baseline to compare to. There really is no other baseline. It's damaging and outright delusional to compare yourself to the "perfect you" that always bought at the exact bottom and sold at the exact top. That you does not exist. It's a damaging fantasy that always leads to you beating yourself up about not making the most optimal decision at each and every turn. Cryptos can quickly lose its fun if you think along those lines.

Are you in profit (as in cashed out your initial investment + profits in fiat)? Then you're winning - you're doing better than the other you that didn't bother with cryptos. Congratulations. You should extinguish any regret, and actually feel contentment at your achievement. Forget the "what ifs?" - you made a decision that has made you better off financially and you've learned a fair amount along the way.

Are you holding an unrealised loss? Then know that it's unrealised and while that can be stressful, you're doing well to hold on and you can be proud that you haven't sold yet. It won't fix the regret so easily, but you have the hope your unrealised loss can turn into a realised profit.

Are you actually making a realised loss in cryptos? Of course, this is the hardest situation of all. All you can do is see it as a lesson you paid for. Nothing is without value, and you will have learned something along the way. You gave something a try, and financially it didn't work out. You may not be out of the game, so you could be in profit in a few days or weeks' time. Or maybe you've just had enough. Fair play. Know that you're actually in a big group of people. Lots of people have faced your situation and come out the other side OK. I lost a fair amount of money in Forex a few years ago. I felt crap for a while, then I stopped feeling crap. Luckily, life moves on. Actually, without that experience with Forex, I doubt I would have found any interest in cryptos - and I have profited from cryptos much more than my Forex losses - so there is that. Plus, cryptos are a LOT more fun than Forex.

I know that everything above is purely based on financial regret, and the counterargument is that "there's more to cryptos than just making a profit" - but when it comes to regret, it's almost always about money.

if you want to regret dont you ever enter on that situation if you dont no how to handle it, if you want to trade without regret must be wisely

[ohkkstaaahp]

In my opinion, you should forget about them, as they will make you think a lot and have a headache, so forget about the past and live with the present and improve your knowledge to get big profits in the future.

[katuhakuh]

In my opinion to face cryptocurrancy regret, I think you must learn to control emotions, forget how much money is lost or won, and try to focus your next decision. Make it for your lesson so you can think about how to avoid future mistakes.

[Elqui]

You can’t really escape crypto regret if you’re an investor bacause trading is like gambling, you always dont know what will be the results.

[Herostorm]

Forget about it and do not think too much about those projects. In my opinion, do not think about the past, forget about what happened to us, so you will succeed.

[bit-freedom]

Thank you for sharing, I believe many people experienced regrets in crypto market.

IMO, regretting only hinder our progress. Lessons should be learnt, got over and move on. In this case, we will be able to achieve more.

[anitaraymonds]

Great therapy for the emotion attached to online trading, grate write up Thanks my Bro. As far as trading and investment online is concerned there are abound to be mistakes and actions to be regretted,nobody is perfect and exempted as far as this emotional laden torture is concerned. The worst is that what has been done you can not correct it because it is already past. But what we do not know is that the opportunities or trading point repeats themselves all you have to do is gird up your self if an opportunity is missed and get ready for the next one. Worrying or destroying yourself will not change anything.In my own case I know that another chance will come so I do not allow such mistake to disturb me.

[Akoldi_ibk]

Regret! It happens a lot of time in crypto, whether you are a holder, trader or an investor. And to survive in this crypto world and come out strong each time things go other way, one must learn to face the consequences, live with the regret or let it go. The most important thing is to learn from every circumstance in this space — both good and bad.

[yulchatar]

I have long learned to live without regretting past actions and behavior. I try to tell myself everyday that everything that happens in our lives is all for the better. It is impossible to constantly regret about something. Similarly, in crypto. If you decided to sell this or that currency at one time or another, then it was so necessary. Leave regrets and go on, if you can't change anything.

[Sum24]

You can’t really escape crypto regret if you’re an investor bacause trading is like gambling, you always dont know what will be the results.

Trading is not a child play as if you are a trader you should know about good time of trading and investing, no one know about future of crypto that what will happen but we have hope and for sake of our hope we will invest, buying at perfect time is dream of anyone because it is only way to get good profit buying low to sell high, is best strategy now a day.\

[robotrobert]

Forget about it and do not think too much about those projects. In my opinion, do not think about the past, forget about what happened to us, so you will succeed.

Almost all the bad luck is actually as result of your mistakes and faults so you have to focus on where you did the mistake. If you learnt not to repeat your mistakes then everything will become fine for you and you will be on the way to get profit. Always buy in low market so that you will not face with any kind of loss later after buying it and it will be only profit when you sell in bull market.

[Cherylstar86]

Forget about it and do not think too much about those projects. In my opinion, do not think about the past, forget about what happened to us, so you will succeed.

Almost all the bad luck is actually as result of your mistakes and faults so you have to focus on where you did the mistake. If you learnt not to repeat your mistakes then everything will become fine for you and you will be on the way to get profit. Always buy in low market so that you will not face with any kind of loss later after buying it and it will be only profit when you sell in bull market.

Exactly, as each of us already learned on our mistakes. I definitely believe soon most of us here will recover since the market is still in chaos. We can't also deny the fact that we try our luck here, hoping to have a great amount of profit in the future.

[tbterryboy]

Forget about it and do not think too much about those projects. In my opinion, do not think about the past, forget about what happened to us, so you will succeed.

Almost all the bad luck is actually as result of your mistakes and faults so you have to focus on where you did the mistake. If you learnt not to repeat your mistakes then everything will become fine for you and you will be on the way to get profit. Always buy in low market so that you will not face with any kind of loss later after buying it and it will be only profit when you sell in bull market.

Exactly, as each of us already learned on our mistakes. I definitely believe soon most of us here will recover since the market is still in chaos. We can't also deny the fact that we try our luck here, hoping to have a great amount of profit in the future.

This is why they call the learning a slow and steady process. It is the lessons you learn from the recurrent loss and profit and ultimately you are in a position when you can formulate a strategy that works for you in both short term and in long term which further depends on the type of crypto you are investing in as well. The ultimate purpose is to earn money and that can happen if you learn from every step in the business journey.

[weblaraveluser]

Forget about it and do not think too much about those projects. In my opinion, do not think about the past, forget about what happened to us, so you will succeed.

Almost all the bad luck is actually as result of your mistakes and faults so you have to focus on where you did the mistake. If you learnt not to repeat your mistakes then everything will become fine for you and you will be on the way to get profit. Always buy in low market so that you will not face with any kind of loss later after buying it and it will be only profit when you sell in bull market.

In my own opinion, if you lose a huge amount of your investments then you should just accept losing money because that's how cryptocurrency works, the price will only grow if the market starts to pump up.

[Vaccaria]

Regret is an inevitable state of mind in crypto at one point or another:-

why didn't I buy that coin when it was $0.50?
why did I sell this coin early?
why didn't I take profits on the way up, only to see the value fall 50% in a market crash? (a lot of us in the last crash!)
why didn't I buy the dip?
why did I FOMO and buy at the ATH and now I'm holding an unrealised loss?
why didn't I buy more of this coin?
We're all going to make "mistakes" that lead to a feeling of regret and self-admonishment.

I have a couple of strategies here to help me dampen the feeling of regret.

1. I have to realise that regret is largely based on a "maximalist"/perfectionist mindset, which is both unrealistic and unhealthy. We are attached to the notion of maximising profits. But what would that involve? It would involve being the perfect, machine-like investor. Always buying low, selling at an ATH, taking profits at the perfect time. It's an impossible standard to live up to.

If I make a profit, I compare my profits to the stock market. If you do THAT, realise you're likely "killing it" even with a "modest" 100% gain (it's ridiculous even to put "modest" here). If you can make a 10% gain a YEAR in the stock market, that's considered a success.

Also realise that the maximalist attitude is largely shaped around only hearing one side of the story of other people's trades. People boast when they're winning, and they're quiet when they're losing. Therefore, you can start to think that everyone's doing incredibly well.

2. I can only compare myself to the other me who didn't get into cryptos at all. That's your baseline to compare to. There really is no other baseline. It's damaging and outright delusional to compare yourself to the "perfect you" that always bought at the exact bottom and sold at the exact top. That you does not exist. It's a damaging fantasy that always leads to you beating yourself up about not making the most optimal decision at each and every turn. Cryptos can quickly lose its fun if you think along those lines.

Are you in profit (as in cashed out your initial investment + profits in fiat)? Then you're winning - you're doing better than the other you that didn't bother with cryptos. Congratulations. You should extinguish any regret, and actually feel contentment at your achievement. Forget the "what ifs?" - you made a decision that has made you better off financially and you've learned a fair amount along the way.

Are you holding an unrealised loss? Then know that it's unrealised and while that can be stressful, you're doing well to hold on and you can be proud that you haven't sold yet. It won't fix the regret so easily, but you have the hope your unrealised loss can turn into a realised profit.

Are you actually making a realised loss in cryptos? Of course, this is the hardest situation of all. All you can do is see it as a lesson you paid for. Nothing is without value, and you will have learned something along the way. You gave something a try, and financially it didn't work out. You may not be out of the game, so you could be in profit in a few days or weeks' time. Or maybe you've just had enough. Fair play. Know that you're actually in a big group of people. Lots of people have faced your situation and come out the other side OK. I lost a fair amount of money in Forex a few years ago. I felt crap for a while, then I stopped feeling crap. Luckily, life moves on. Actually, without that experience with Forex, I doubt I would have found any interest in cryptos - and I have profited from cryptos much more than my Forex losses - so there is that. Plus, cryptos are a LOT more fun than Forex.

I know that everything above is purely based on financial regret, and the counterargument is that "there's more to cryptos than just making a profit" - but when it comes to regret, it's almost always about money.

I think this post is as relevant now as it was back in January. A good mindset is important, and your strategy of comparing with the self that never bought crypto is interesting and useful.

I would only add on to it. My suggestion is that we commit or dedicate ourselves fully to each action/trade we made. This is done by convincing yourself through answering these 3 questions:
1. Is the current situation more favourable for you than before? Yes.
2. Do you know what will happen next? No.
3. Can you afford to lose this amount? Yes.

When I answer these 3 questions in the full presence of your mind, you will be able to find the resolve to back up your decision. And weeks later when you look back at that decision, that resolve will come back to support you.