I hodl. Trading can be fun and interesting, however this slot machine is not here to give you money. It’s there to take it, and those little goals, that little rush of dopamine is to lure you into saying “what if this trade is a win?” A good thing to look back on is yesterdays lesson about risk. It’s thrilling and risky, but do not get consumed for it is against you.
This current bear market has affirmed my long term hodl of 3 years+++. Will be profit taking on the way up but will never fully cash out of crypto atleast 10 years from now minimum. Have pretty high expectations so do not expect to get hit with taxes for holding less than a 1 year.
The when to sell as i have said before is the hardest for me. I did write down a number that would be my exit 50% number the sad thing is that i have DCA money figured into that number Its like this would be life changing but I can also set this much aside for years and years of DCA. I often laugh at myself for over analyzing things but its just the way I am programmed.
Long term is key. I honestly just don’t sell back to fiat. I have a few instances in the future where it might be necessary but hasn’t happened yet. In terms of trading against BTC I have had mixed results, always stay disciplined with your stop-loss if trading in the short term.
I know this game is set up for me to loose. I’m sure I can win though. Of course all loosers say that.
I started trading with $100. I have been sticking to one coin, litecoin. I have been learning its characteristics. My intention was not to increase the $, but to increase the coin. Sell high/buy low, not buy low/sell high. If I am a good trader, the money will come.
At first my $ went down, but I was increasing my coin count. I have to keep reminding myself, its not about the money, its about the good trade and increasing the coin count. its funny how we always try to keep score with money.
I have been really dialing in the TA. I have created my personal trading system, which was completely horrible at first. Re-wrote most of it, and then tweak it as I find errors in the system.
My biggest blunder has been not putting in stops. These have cost me the most. I chastise myself for this blunder most of all.
I started with 1.16 coins, and am now at 1.89 coins. I know that there are a lot more errors that I will make, but through the lessons of B90X I am going in the right direction. I expect the dynamics of things to change as my coin count gets bigger, but at the same time I know it should work the same.
Hmm, another self created head game I have to deal with.
I am in this game to win. I expect to get the gains big enough to convert some to BTC. Its all about getting that ticket to the moon.
I may be emotional on somethings however when it comes to crypto I seem to be very cold and calculating. My goals at this time concerning crypto aren’t about the money or going to the moon. They are:
1- learn the rules and master the game
2- collect and hodl coins/tokens to be used in another projects activities
3- learn the language of programers and investors so I can know how to talk with them about my project and work to build an amazing team to develop my project.
4- learn how to network and talk with others while building true and trustworthy associations/connections
So everything I am working towards seems to put a shield against thoughtless/emotional trading and washing out for me. I’m in this not just for my life time but my kids and future generations life times.
That’s very true and important to remember, those exchanges are against us…
But wait, there’s hope that’s YEN.io
The odds really are against you. Long term hodlers ftw!!!
I’m here for the long run! Learning and growing step by step!
Being aware of the need for a long term hodling perspective helps me not worry so much about the ups and downs of the market.