When You Sell Too Soon

in crypto •  2 years ago

When new to trading cryptocurrencies, you can be sure the following scenario will play out. And not just once. Hell, you don't have to be new to crypto. Seasoned pros still fall victim to cruel market deceptions.

It's unavoidable, really.

Let's say you have been watching a coin on Poloniex and it looks like it is going into a pump. Or maybe after said pump it drops a bit down and you think "Damn! It's gonna drop." You hit sell, pretty puffed up. In profit, even. Not 10s of BTCs, but 1 is nice for now if you bought in for only .25. It's not quite panic dump mode, but you feel pretty smug for getting out before the rest of the poor bastards who didn't sell in time. Profit is profit is profit.

Your last sell hits.

Relief.

But then, what's this? Again?

JohnCandy.jpg

No! No! Rewind, go back! I didn't mean to sell! It was an accident. I mean, it wasn't even me who hit sell. There must be some kind of undo option.

"Noooo!" The shout heard 'round the world.

Alas. Sells are bought and the cycle returns, jumping much higher than the "peak" you thought you had pegged.

Welcome to the world of crypto.

And this image, my friends, exactly describes my smoking fingers after I pull the trigger too soon. Because I have, and you will too.

Embrace the pain.

Bete.gif

Image credits:
John Candy in "Planes, Trains and Automobiles"
gif from Jean Cocteau's 1946 film "La Belle et la Bête"

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The Crypto Treadmill!

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That too. You can't stop!

That would be me for sure!

One man's shitcoin is another's treasure

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Depends on the day, doesn't it @cryptofunk?

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I think it depends on the day, wind direction and any number of random events :)

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  • and don't forget the alignment of the stars!

I swear. Crypto trading can drive one crazy. And don't tell me about when you hold for a lil bit too long thinking you can get a couple of dollars more . Then bam, the price goes crashing and you're now a bagholder.

If there is anything I've learned, is the fact that I'm a very very bad trader. Now I do it all for fun. I win some. And lose some.

But I'm always gonna keep trying. Cos I learn from the best. Like you ;)

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Oh, the bagholding syndrome! That happens as well. I used to be more detached. Some days I get too caught up and need to have the computer taken away from me. :) Thanks, @infovore.

Hahaha :-)
I remember me trading the URO coin few years ago.
Terrible trader I was!!

Funny read, I'm always like that ))))
Need that undo button too often these days!

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Imagine! Or a mini time machine. Thanks, @richman!

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^^^ You said it, @richman!