- 2021-01-08 at 9:19 AM#937465
The annoying thing is, if I had held my nerve and hadn’t bailed when it started to fall I would have made money on all of them. But this is the hindsight fallacy, you believe you would have made money but you just made a mistake. Next time it will be different, you won’t make the same mistake.
same here. In 3 years of crypto, I DCAed in about $22,000 total … I missed numerous opportunities to turn that into like $200,000 … The subconscious voice saying, “Next time, Next time, I wont fall for that again!” … And sure, there were times when I recouped some losses … only later to lose it all again.
Like you say, it’s like me getting into an F1 car and expecting to mix it with Verstappen, Hamilton and Leclerc
Exactly. The Exchange WAITS. When you do finally make a move, it was the worst possibly time to make that move. It happens everytime and its an ADDICTION to keep thinking you can beat it.
If you do make any money on this sort of s~~~ it is sheer dumb luck.
Yup. Bitcoin Maximalism and HODL is a sort of cult-like following. Bob Loukus is an experienced trader. Many just like him say the same thing and they explain it all. And you can actually understand all this perfectly clear, and understand your own mistakes AND THEN CONTINUE TO STILL MAKE THEM.
People who are able to hold through a 1000% increase are RARE RARE RARE! …. Most people, most SANE people, lose big because we are rational and we make rational decisions that always lead to LOSS.
Go look at a Leverage Token like ADADOWN on Binance. (They used to have others ones just like it but delisted them after the capitulation event last MArch).
ADADOWN is a 3x leverage token that mimicks the price of Ada. If ADA goes down 5%, ADADOWN goes up 15%.
If you look at the ADA (Cardano) charts, paying attention to daily candles for the last 4 months, its VERY OBVIOUS that it was unpredictable, totally random, undecipherable based on Technical Analysis and indicators. I guarantee you, MANY MANY MANY longterm hodlers who had been accumulating ADA for YEARS, sold somewhere in there and attempted to Trade. Some of them, like me, were crazy enough to not only go to Tether, (selling all ADA) but to also buy ADAUP or ADADOWN. And those people literally gave up MILLIONS OF DOLLARS to the Exchanges.
The exchange waits until the balance of people selling and shorting is exactly right, then they LAUNCH the price up, say 19% in a day or two, … this absolutely slays people holding leveraged tokens. Imagine taking a 40% HIT in one day. If you had $10,000, its now worth $6000. And it continues like this.
Its like a fvcking Bug Zapper light. It attracts naive people like me, who thought they could ride the waves a little.
Yes Im bitter. Yes Im angry.. I lost a lot of money I should never of been in there…. If only I could have, should have, would have…. Its a delusion. That is why its ILLEGAL in many states.
man up means man down
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