The Psychology Of Past Buys On The Market
So steem is looking pretty cheap right now from where it was. It was almost $2 when it was passed $3 a week ago. On a side note that shows how volatile the market is when such a change can happen in literally days. At this price you would think, being someone who uses and thinks the coin will go up a lot, that I should buy it (though the market might still be bear and it could go lower). But it is hard for me to go in at this price. Or even $1.50. Why? Because I bought some for .15 cents at one point. And knowing that it feels weird to buy it now.
It is the same for other coins that I bought around ico time that are 10x where they started. It is hard to go back in even when I think they will go up in the near future. Is it just me? I would rather take the chance on a lower coin then go back in on one that I had before.
There are other factors involved but that price increase really puts up a psychological barrier of my investments. Maybe it is one I need to push past to be a better investor but all I am saying it is definitely there.
Being able to control emotion is key. We have all heard it a thousand times, but it's easier said than done. Steem is at 2.42 now and was around 2 over the last 24 hours. Anyone who feels that Steem is a strong platform with a good future and bought up more Steem at 2 just made a killing in a short amount of time.
Dude your are the boss then. If you already bought 10 times cheaper, then you are still at a profitable bussiness. Though the volatility of the markets kills me, one moment it's up and the next moment right on the floor.
Obviously, everyone is skeptical about either selling, buying or hodling it but the truth is that it is crypto space and nothing is base on certainty. Meanwhile be careful and be vigilant while taking actions
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I hope to see green soon.
I like it Sher stook thank u whatageek
Plus today the SBD increased a bit in price, seems to be gaining ground and ready to rebound which is what we all hope in here
The first thing I was told when getting into scalping or even swing trading was to FORGET THE LAST TRADE! The dip is ALWAYS going to be higher than the entry point fore the early adopters. We love this currency for its core purpose but that wouldn't mean a thing if we couldn't convert it into FIAT profit at opportune moments.
Buy the dip (despite the lower price that was available much earlier)
EOS speculation may have some weight in the current price (aside from BTC and crypto in general) and that is going to dump when the new hits (buy the rumour, sell the news) of the succesfully launched mainnet.
Anyhow, learn from the past but buy for the future broski!
Well for us that came in when it was $4+, it looks like a steal.... For one that has got balls.... I think I would feel the same way, if I was in your shoes though.
I started buying Steem at 0.80 cents approx, and I echo what you are saying about having a hard time buying more as it has gone up. I expect Steem to reach $10+ easy, which should mean I'd be happy to buy at these prices but it feels like a bad deal, because of where I started acquiring Steem.
If it reaches 1.50 I'll buy a few hundred more. Having 5,000 Steem is a soft goal of mine.