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Buying in those dips! (Trading without emotion) by nuthman

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· @nuthman · (edited)
$42.02
Buying in those dips! (Trading without emotion)
## Trying to behave intuitively counter-intuitively

As I have stated (and lamented about) many times in the past, I have made a lot of horrible mistakes trading crypto. One of the biggest ones has been letting my emotions be too much of a guide. 

Anyone will tell you that this is amateur mistake number one. This bull run I am doing things *much* differently than I ever have before. 

![Damn! That's a drop....](https://images.hive.blog/DQmV38Wg4RSEUcNhuKRg1bEUWj6X41DQ96gXQ389AVPs9K7/Screen%20Shot%202021-03-22%20at%2010.32.24%20PM.png)

In the past, I would freak out on dumps and sell low only to see the price rebound. Or I would HODL something that was clearly falling apart until it went completely kaput and I was left holding the bags.. With the exception of ENJ, which I bought in the ICO and rode it up to 50c, and back down to one cent where I rage sold it and missed out on the current run up.

I am trying really hard to learn from my mistakes, but am clearly no expert. However, one thing that people keep telling me is that I need to have a strategy, and stick with it. 

What I have decided to do is stick to a few coins that I believe in, and stop trying to jump on every single FOMO fueled project that I come across in some get rich quick fantasy rampage.

The one thing that has become abundantly clear, is that BTC needs to be at the top of my list. I am working my way toward that! Under that are coins like ETH which I am mining, (and RVN on my 4gb cards to convert to cash in order to help with those power costs) and a few more risky projects that I believe in.

I have been thinking about out how much perspective clouds the way we see a particular project. For example, having bought in Steem/Hive at 6-7 bucks, it gives me a very skewed point of view. For example, I should but jumping up and down about hive reaching 57 cents after being so low for so long. But I don't feel any joy whatsoever. I mean, it's nice and all, but the losses are just so great that it is hard to throw a party.

On the other hand, say you joined Hive a few months ago and bought 200k tokens at around a dime each. You would be turning backflips right now, and singing the praises of the platform.

![Gotta have those diamond hands, folks.](https://images.hive.blog/DQmTiAfkLGtDfxMt6YC8kKPdiapx1pE4kxAmwMvodC7H2aG/20210308_140114-1.jpg)

This is why it is so important to take emotions out of the equation with trying to evaluate the value and future potential of a crypto project. It may be very difficult to do when you have skin in the game and a history, but it is critical to success.

Funny enough, I think that I actually have an intuition for this stuff that I keep ignoring when I get spooked. I get bad feelings about certain projects that I end up being right about, but don't act on. It can be difficult to weed out the difference between this intuition and run-of-the-mill panic and fear, but there is a different flavor to it. 

And whatever you do, don't rage sell anything. Wait until you are calm and not feeling depressed or angry. The 'woe is me' self should not be trading. Go take a nap or meditate or something. 

Don't do anything stupid. Thanks for reading my bi-polar posts! The roller coaster continues...

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@nuthman/buying-in-those-dips-trading-without-emotion)
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vote details (231)
@badbitch ·
$0.02
Well, I've also been got up trading out of FOMO, sometime back I jumped on Compound at above $500 looking to make a bank at $800 - $1000 because it sure looked healthy enough to get there. But right after purchase it retarded quickly and I sold back below, same shit when I bought into Ponzi coin on BSc, but it's all just a process, it all has to happen, got to get rekt to understand the system better, that's all I can say. 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@badbitch/re-nuthman-3besnc)
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@nuthman ·
I traded a bunch of eth for compound when it first launched and got pretty excited until eth jumped up over 1k. hahs... This is such risky business.
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@bozz ·
$0.02
I try to avoid rage selling any thing.  I know it will all eventually come back up anyway.  Hopefully I mean.  I am pretty much just hodling everything right now because I think we still have a ways to go.  I started doing the focus on specific coins thing too.  I am taking $100 each month and splitting it between the same five tokens.  If even one of them is a win for me, I will be happy.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@bozz/re-nuthman-5hzmex)
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vote details (1)
@nuthman ·
$0.02
I always say *thank God for power down time* or I may have rage sold Hive on many occasions. Sometimes I hit the power down button just for psychological satisfaction, only to undo it after a few days. Actually, I did it a couple of weeks ago, sold, and rebought when it dipped. I got a few hundred extra Hive out of it.

I think it is a good strategy what you are doing as well, investing a certain amount each month.
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@bozz ·
I always try to keep some Hive liquid just in case. It never really works out for me. After about a day I say "oh, I will just power it up, I can always earn more...".
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@hivebuzz ·
$0.02
Congratulations @nuthman! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

<table><tr><td><img src="https://images.hive.blog/60x70/http://hivebuzz.me/@nuthman/upvoted.png?202103230633"></td><td>You received more than 55000 upvotes.<br>Your next target is to reach 60000 upvotes.</td></tr>
</table>

<sub>_You can view your badges on [your board](https://hivebuzz.me/@nuthman) and compare yourself to others in the [Ranking](https://hivebuzz.me/ranking)_</sub>
<sub>_If you no longer want to receive notifications, reply to this comment with the word_ `STOP`</sub>

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@mrix ·
Emotions are the most importang part when it comes to trading.
90% emotions 10% β€žtrading - skillβ€œ.
Do you also invest in stocks?

Anyways, good luck!
πŸ‘  
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@nuthman ·
I was heavily invested in stocks before I got into Crypto. Now I am mostly out of traditional stocks. I do have a little here and there.

I think the thing that helped me out in stocks was the fact that it doesn't run 24 hours. I was forced to step away. With this stuff, it's prying your eyeballs away from the screen that is the trouble!
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@mrix ·
Yes the β€žfreeβ€œ weekends are really good for mental health when trading stocks.
With crypto you can check price 24/7, this can be demanding...
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@nonsowrites ·
$0.02
I think losses are part of the game. There is no way around it. You will make losses, your emotions will get the best of you most times but it is important to stick to your strategy. If it is a good one it will cover the cost of losing on a few projects. Happy trading mate. Cheers!

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@nonsowrites/re-nuthman-6je3qp)
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@nuthman ·
It is true that losses are inevitable. I only wish that I learned more quickly from my mistakes!
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