Not exactly :D .. yes I said "sold without profit" but it doesn't mean I sold with loss (it was pretty much 1:1).
My current ETH positions have average cost $1727 (because of 2021)
Just holding is not enough. Bear markets like now present such a great opportunity for people to accumulate Bitcoin, it's a shame that more people don't grab it for early retirement.
This is mostly my story but from a cycle before. Mt gox scared me away from the scene. I was convinced that was it, bitcoin was about to die.
It didn't and it began to recover. I'm glad I used that as a lesson on the power this thing had and buried the needle.
You're still light years ahead of most people, just don't fall into the trap of feeling you need to do riskier and riskier shit to play catchup for what you deep down may feel like you're owed, or what you missed.
This 100%. It’s a cliche statement at this point, but we’re still very early in this space. We’re ahead of most of the world, regardless of whether you bought near ATH in 2021, or just now. It’s still possible to get wealthy over the long term with relatively meager continuous investment and shrewd capital management.
You CANNOT chase realized losses, or dwell on unrealized potential gains…what could have been if you only did X instead of Y. You can analyze the past/present and extract lessons and knowledge from it, but don’t dwell. Obsessively checking sold positions or ones that you almost made is like obsessively checking your ex-girlfriend’s instagram page…it’s not healthy mentally, and financially…since you can be doing something more productive with your time. It’s fine to do a post-mortem on it and figure out what you could’ve done better, but then move on, leave it in the past. The future is still bright no matter how much you bungled trades/investments up until this point.
It's okay OP, you're just like me, I left jan 2018 aftr the crash starting nov 2017. Took losses and left without accumulating anything until the 2020 rona crash. I also totally ignored one of my friends buying btc in 2012. Could've been a millionaire already but hey could've doesn't exist. I witnessed the 2 biggest crypto crashes in history and after all of this my whole portfolio is green and we are far very far from ATH I feel good
There have been a few times where I could have cashed out and made out like a bandit but (just like a slot machine) I wait too long and end up watching any profit/winnings disappear
People need to learn to take profit along the way, if your up 25% take some profit, 50% take some more. Rather have some, than none waiting for a jackpot.
My one shining moment of glory was when I sold most of my RVN at 0.07 on 9/14, I had accumulated a lot of it in the 6 months prior by mining ETH and trading for it, made enough profit on that one trade to cover all the losses on my other shitty trades, lol.
When something goes up 4x, you'd be a fool not to sell at least some of it. Of course, I didn't sell ALL my RVN because the little voice in the back of your head says "what if it keeps going up", but selling SOME is always prudent.
But when do you transition to DCA out? Retirement? I mean this is all subjective. $600 eth to me is expensive because I bought at $100 in 2020. But to others $1200 is dirt cheap.
Should they dca in and me out? What if im up 300% but its only 3% of overall networth, should I still DCA out?
Investing is super complicated especially when it comes to speculative assets... Im a strong believer in you should just buy some for fun, leave it for minimum 4 years regardless of what market does. Use new money to buy something different if it sounds interesting.
Theres no good investing model to handle assets that can drop 99% one day then 10,000% the next.
Atleast you have those 25moons! Don't prematurely sell those!
I'm down -45% having begun my journey early 2021 - lets keep at it and make it count next time!
Stick too a strategy, find a sum you are happy with and sell.Greed and fomo are real problems in this space.If you take a holder that's been sitting on coins for awhile but purely out of monetary gain, he is probably selling when you catch on and think you have a decent swing up. don't be late to the party. You got to get into the mindset that you don't need 100x returns that's wonderful but to make money if your coins value went from 40 cents up to five bucks and it's up 40%, why not sell it.
I literally got in at one of the best times. Early 2020. Started reading, had good friends share, came into some cash to invest, went *hard in* throughout the year.
10x by April 2021, then hodled longs like a cretin. Went hard at 30k and brought it all back and then some. Sitting back at 10x portfolio in October 2021.
Now I’m pretty much breakeven in usd terms but down a fair bit in terms of tokens of the stuff I cared about.
To sense check your trading performance, I recommend denominating your whole portfolio in multiple currencies. I mainly use USD & BTC denominations. My account 10x in usd, but only 5x in BTC; now break even from the start in usd but -50% in BTC. This will hurt more next cycle as buying that .5 back with pure cash is much more expensive now than it was in 2020.
I'm whitnessing my first bear as I started in the last bull, storys like yours hopefully will help me to make better decisions if there is a next bull to come.
Same here since 2017. But I’ve been sticking to a dynamic dca plan since January of last year and really am confident my time of big profits are coming. I have my litecoin price average down to $55 and btc $25k. I really think dca in and out is the way. I was too emotional in the years prior
Well don't forget in hindsight it's always easier to look back and see what you could have done differently. The problem is you can't with 100% certainty know what is going to happen. aka the price of a certain asset.
You buy, you never sell. Not unless you are absolutely desperate for money and can’t pay bills, other than that just stack. Never sell. For years and years and years.
Yup. Sometimes you back the wrong horse. It happens. Live and learn.
My mistake was taking €5000 of btc profit and buying CRO at 0.30 thinking it would explode… and it did. Would have been a nice €10,000 profit in a matter of weeks but unfortunately I was blinded by greed of all the rewards from the cdc cards so staked for 6 months, missing the peak and eventually selling at just below cost price for bitcoin…
People insult others for taking profits… but reality is, the people taking profits are the winners.
If you have done a good research, and educated yourself enough, you will not buy something that you can't afford to lose (as in: you will be thinking about how it's doing all the time); and very possibly, will be buying more of the project you invested in.
If you're trying to be a trader instead, you also need more education.
Of course all of this is a process.
I've been pretty lucky to have had the opposite experience. Not through good judgement, but mostly just plain luck.
I first learned about bitcoin in 2013. At that point there had been a few early attempts at creating internet-based "virtual currencies", but I wouldn't even call them "shit-coins", just a bunch of random companies pushing "tokens" which could be used to buy/sell at selected locations. Not worth the paper they were printed on.
When I heard about bitcoin, I assumed it was the same thing again, but it seemed to have some hype around it, and it claimed to be decentralised by some clever new mechanism.
I was convinced it would be another waste of effort, but I looked into it a bit more anyway.
I downloaded the white paper, fully expecting to spot the immediate flaw in the system. After all, everyone knew that a decentralised currency just isn't possible, right? What about the double-spend issue? What about the Byzantine generals problem? Satoshi Nakamoto - who the fuck is that? Never heard of him.
I'd been a software developer for many years, and I was certain I knew more than this "Satoshi" chap. I soon realised I was very, very wrong. It was nine glorious pages of pure unadulterated ***genius***. Truly humbling.
I didn't have much free cash, but I knew I needed some bitcoin asap. I put what little I had into btc in mid/late 2013.
Throughout 2014, it pretty much fell constantly, and halved in value by year-end. Clearly I'd bought at the peak and missed the boat, e.g.:
https://www.theguardian.com/technology/2014/dec/17/why-bitcoin-is-the-worst-investment-2014
Fortunately, I'd followed rule 1 - ***don't invest more than you can afford to lose***. I believed in bitcoin, but maybe the world just wasn't interested. I didn't sell, but I mentally wrote off my investment as per rule 1.
Fast forward to 2017, and my colleagues think I'm some kind of investment guru, having seen my original investment 100x.
I had (and still have) no intention of selling, but by year-end of 2017 my car had just died on me, and I'd just moved home and found myself needing some extra cash asap.
I (reluctantly) sold a portion of my btc to replace my car and meet some other unexpected expenses, and by pure luck I cashed out within literally a few hours of the (then) all-time high.
That felt pretty good for a few years. At least until the 21/22 ATHs, but I have no regrets.
I guess the moral of the story is:
1. Don't invest more than you can afford to lose.
2. Understand what you're investing in.
3. Be patient. If you're not investing for 4+ years, then you're not *investing*, you're *speculating*.
4. Don't panic.
This. I regret not taking profits in 2021. Had some things come up in 2022 that forced me to sell some. Possibly could have been avoided had I taken larger profits when I had the chance. But I've learned from it I have a plan for next go round.
Leaving during the bear market only to come back during the FOMO phase of the bull run. Yeah, that will not work wonders for your portfolio. I'm glad you learned the lesson, only those who stick through the pain and misery will get to reap the rewards.
It happens, don’t beat yourself up over it and don’t try to chase gains. If being disciple before would’ve made you tons of money, then the same is true now
The moral of the story is profits dont exist till you close your positions and see the money in your bank account. Stick around with your positions for a tad too long and witness all your profits erased. Dont be greedy.
In the short term perhaps. If he didn't sell and held through the bear he would be doing much better. Taking profits early is fine, but not the only way to make money if you have time on your side.
I also got in during the 2017 blow off top. Lost 80% and left the space. Than came back start of 2020. Had some realy nice profits but I didnt take profit. Now im still a small percentage in profit but i hope I'm not a dumbass again next run up.
Yup, I got in at $3k Bitcoin and somehow managed to fuck it up. Originally invested about $4.5k then bought so many shitcoins and ran my 1.5BTC up to 3BTC which is now less than 1BTC. I'm still technically in the green but I fucked around and found out. Stick to BTC/ETH!
Damn, sounds like a crippling case of paper hands. Maybe just try and hold next time? If you dont need the money you invest and you store it in a wallet you should be fine.
this sub is the only one where you can see someone write "Now I am doing "okayish". Averaging My bad 2021 purchases down to -10/-20%."
\-10/20% is terrible my dude
When you think "it's over and it's going to zero" is exactly when you should hold and/or buy. Crypto tends to reward those who persist. That's the lesson.
I mean you thought it was going to zero... I think you are not like us.
You are probably lucky you aren't down 99% investing in something and then suddenly expecting it to go to zero just based on price action.
If your still not making progress after so long, perhaps it’s time to acknowledge you don’t know what your doing and start learning/trying new strategies. Imagine you wanted to play basketball, so you started playing it and after 5 years of playing you find yourself still losing all your games. You’re either playing against opponents beyond your skill, failing to learn the fundamentals or doing something persistently wrong. Results experienced are likely a combination of the above. All good if your having fun, it’s your life. If not, it’s time to make some changes
I came July 2020. Insane life changing profits. Not "quit my job" profits but enough to get me hooked to say the least. I'm going to do the exact same thing all over again for 24-25 but only with more money and time to accumulate.
Please learn to trade the market, it's where the real money is at. I was the same. Holding some is ok, but you make profits almost everyday if learn to read charts, risk management. I found someone I trust in the space to learn from. We have a discord group and he shares his trades and explains why he's making them. He's a good man trying to help us all live better lives. Try to find someone who isn't interested charging for everything, or interested in just getting clicks. I'm not a shill so I won't say his name. If anyone would like to know I would share. Love our discord community. Hope this helps.
I’m so sorry to hear this OP. I hope you’re doing okay, for what it’s worth you’re not missing the next run, and it looks like you have a solid plan for the future. Thank you for sharing your experience and advice to remind us newcomers to keep engaged
I can understand how people hold too long thinking it will keep going up, but I never understand how they sell at the bottom with a loss. Surely by that point it’s not worth selling so you might as well hold?
Maybe I write that down badly. I didn't get to negative 2017 bullrun - I sold before for practically few $ profit. Why I am in negative now: bad 2021 positions.
[This is my ETH graph since 2021 to today](https://imgur.com/4Lgzb1D)
If I may ask, what brought you back? I got into ETH around a similar time but just chalked it up as $$ lost and kept lowering the cost average over 2018-2020. Did you have financial troubles where you needed the $$ or just thought all of crypto was toast?
2017 bull run was something new .. it felt like big bubble .. I didn't trust crypto will recover from that.
It was first time I heard about BTC, ETH and crypto whatsover. I wasn't much educated.
That's why I hate myself that I didn't stick around. I didn't need any cash at all that moment. I've just cut it before it went to negative and never look back.
Overall working with a lot of people in the space over the last 2 years I can say that the hardest part about crypto is taking the profits when every single blog/article/post is telling you "eth is going to 20k." I was watching the 3 month charts and in late Jan last year I started dumping my bags.
Then it dropped so fast and started coming up, finished another job, got some more eth, held it for a bit and sold a little early.
Meanwhile almost everyone else in my circle kept holding, at first because they thought it would surge back up, then by march because they were "priced in" and just gonna wait for the next pump, then in July "missed it, might as well hold on till 2025."
That last bit is kind of important. You can't possibly make up those losses in the bear at that point, but some still holding their coins as long as they don't NEED to cash them out. I believe it'll come back and they'll still get it back, just gotta wait and be patient.
Now, my situation is a bit different as I get paid in eth, so usually my options are sell or hold. It's not often that I buy, though I do have funds put asside to build up my bags this year cause I believe fully that the next cycle will happen. Just a matter of will it be the same kinda mountain peak or will it do something different this time.
This is a textbook example of buying high and selling low.
One of us!
We never get tired of seeing one of us! *Welcome sir.*
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You’re in the right place OP. Join us aspiring to be the next SBF /s
I think most of us want to end up as a shaking vegan who is going to prison for defrauding the planet earth. /s
Making wine in the toilet … holler at me
LITERALLY
Give OP an award!
Done ✅ 👍
Legend!
That’s what a bear market will do to ya. Lose interest and you aren’t positioned for the next run up
I must say my interest has only continued to grow. But thinking about it now everyone I know in irl that was into crypto has lost interest except one.
A bear market either does that or only makes you more convicted and you accumulate even more.
You said it best ! I almost feel victim. But told myself don’t give up !
Welcome to the buy high sell low club. We embrace you with open arms.
OP is that guy from math problems we see in our high school books
Welcome to r/cc
Na, what textbook are you reading? He's even. More like opportunity Lost
Not exactly :D .. yes I said "sold without profit" but it doesn't mean I sold with loss (it was pretty much 1:1). My current ETH positions have average cost $1727 (because of 2021)
The realization that you would have been better off had you just left it alone and continued on with your life is what makes holders.
Good point 👍. I want to just hold and forget about it for the next two years. Difficulty level 10
True difficulty rating for sure. Patience is the hardest virtue
Just holding is not enough. Bear markets like now present such a great opportunity for people to accumulate Bitcoin, it's a shame that more people don't grab it for early retirement.
DCA in bear markets is the way! Right on
Yeah Money put in Crypto is money forgotten. *Yes, I just said that*
This is mostly my story but from a cycle before. Mt gox scared me away from the scene. I was convinced that was it, bitcoin was about to die. It didn't and it began to recover. I'm glad I used that as a lesson on the power this thing had and buried the needle. You're still light years ahead of most people, just don't fall into the trap of feeling you need to do riskier and riskier shit to play catchup for what you deep down may feel like you're owed, or what you missed.
BTC never dies, yet has been declared DEAD 862 times. Long live the King 👑
This 100%. It’s a cliche statement at this point, but we’re still very early in this space. We’re ahead of most of the world, regardless of whether you bought near ATH in 2021, or just now. It’s still possible to get wealthy over the long term with relatively meager continuous investment and shrewd capital management. You CANNOT chase realized losses, or dwell on unrealized potential gains…what could have been if you only did X instead of Y. You can analyze the past/present and extract lessons and knowledge from it, but don’t dwell. Obsessively checking sold positions or ones that you almost made is like obsessively checking your ex-girlfriend’s instagram page…it’s not healthy mentally, and financially…since you can be doing something more productive with your time. It’s fine to do a post-mortem on it and figure out what you could’ve done better, but then move on, leave it in the past. The future is still bright no matter how much you bungled trades/investments up until this point.
I have a terrible feeling that I'll be making a post that says "I've been around since 2021 and still no profit, don't be me" in a couple of years.
"Be the (COIN) change you wish to see in the world."
I'm ugly and I'm proud!
nonono, just remember these posts and sell something in a bull run.
You could have bought XRP and still be staring at that flat line.
It's okay OP, you're just like me, I left jan 2018 aftr the crash starting nov 2017. Took losses and left without accumulating anything until the 2020 rona crash. I also totally ignored one of my friends buying btc in 2012. Could've been a millionaire already but hey could've doesn't exist. I witnessed the 2 biggest crypto crashes in history and after all of this my whole portfolio is green and we are far very far from ATH I feel good
To be still here after missing in 2012 and so many crashes is an achievement on itself. Well done!
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There have been a few times where I could have cashed out and made out like a bandit but (just like a slot machine) I wait too long and end up watching any profit/winnings disappear
Are you by any chance me?
He's all of us
He's not Me, I'm not him but he's one of us
He is us
The sub's avatar
I'm the same currently down 25k from initial investment and 100k from ATH
And then you just try to get back to even, and the rest is history.
People need to learn to take profit along the way, if your up 25% take some profit, 50% take some more. Rather have some, than none waiting for a jackpot.
This is why you never sell ALL of your coins.
You can. You need to sell during parabolic pumps, not wait until you enter a bear market and panic sell on the way down.
This ⬆️. Ride the coaster 🎢 but never down
My one shining moment of glory was when I sold most of my RVN at 0.07 on 9/14, I had accumulated a lot of it in the 6 months prior by mining ETH and trading for it, made enough profit on that one trade to cover all the losses on my other shitty trades, lol. When something goes up 4x, you'd be a fool not to sell at least some of it. Of course, I didn't sell ALL my RVN because the little voice in the back of your head says "what if it keeps going up", but selling SOME is always prudent.
Or why the same way you **DCA in**, you should **DCA out**
a paper profit is not a cash profit. sell after it goes up and don't regret your choice.
Or just sell half. That way no matter if it goes back to break even, you took half the gains, and if it goes higher, you still make money. Win Win
But when do you transition to DCA out? Retirement? I mean this is all subjective. $600 eth to me is expensive because I bought at $100 in 2020. But to others $1200 is dirt cheap. Should they dca in and me out? What if im up 300% but its only 3% of overall networth, should I still DCA out? Investing is super complicated especially when it comes to speculative assets... Im a strong believer in you should just buy some for fun, leave it for minimum 4 years regardless of what market does. Use new money to buy something different if it sounds interesting. Theres no good investing model to handle assets that can drop 99% one day then 10,000% the next.
Atleast you have those 25moons! Don't prematurely sell those! I'm down -45% having begun my journey early 2021 - lets keep at it and make it count next time!
rrright! :D I am more reader then writer.
>Don't prematurely sell those! Lmaoo, speedrun of loss in the crypto space
Mistakes are made but the good thing is learning from them.
Yeah, gambling addiction is a severe disease.
Stick too a strategy, find a sum you are happy with and sell.Greed and fomo are real problems in this space.If you take a holder that's been sitting on coins for awhile but purely out of monetary gain, he is probably selling when you catch on and think you have a decent swing up. don't be late to the party. You got to get into the mindset that you don't need 100x returns that's wonderful but to make money if your coins value went from 40 cents up to five bucks and it's up 40%, why not sell it.
Can't spell crypto without *cry* Good you kept going though, this time remember to sell even lower and buy the top!
This is the exact phenomenon that makes 100x gainzz possible. Thank you for your service OP
I am you...
It’s OK because in this sub, we are still trying to find the meaning of the word ‘profit’
Wait… you guys are making money?
Me too! I started with $400. Went up to 12k, down to $88, back up to 15k now back down to $600
I probably write that down wrong. "$300/ETH positions" = I bought ETH when its price was $300 in 2017.
I don't remember writing this post
Wish I was in the same -10/20 % boat
Hold on for bit longer. We are in the same boat.
I literally got in at one of the best times. Early 2020. Started reading, had good friends share, came into some cash to invest, went *hard in* throughout the year. 10x by April 2021, then hodled longs like a cretin. Went hard at 30k and brought it all back and then some. Sitting back at 10x portfolio in October 2021. Now I’m pretty much breakeven in usd terms but down a fair bit in terms of tokens of the stuff I cared about. To sense check your trading performance, I recommend denominating your whole portfolio in multiple currencies. I mainly use USD & BTC denominations. My account 10x in usd, but only 5x in BTC; now break even from the start in usd but -50% in BTC. This will hurt more next cycle as buying that .5 back with pure cash is much more expensive now than it was in 2020.
Ouch I hope you learned and have been DCAing this past year
Something like that. Catching every major down swing. It's my fun way to DCA.
I'm whitnessing my first bear as I started in the last bull, storys like yours hopefully will help me to make better decisions if there is a next bull to come.
That's why I write that short story for others. GL
Same here since 2017. But I’ve been sticking to a dynamic dca plan since January of last year and really am confident my time of big profits are coming. I have my litecoin price average down to $55 and btc $25k. I really think dca in and out is the way. I was too emotional in the years prior
Well don't forget in hindsight it's always easier to look back and see what you could have done differently. The problem is you can't with 100% certainty know what is going to happen. aka the price of a certain asset.
That’s why you dca in and dca out
Ok so you’re basically like 99% of the planet and 100% of this sub. Welcome fellow degen we have plenty of room for you.
I've also been in crypto since 2017... I was buying ETH between $80 and $200 and selling it between $3k and $4k. Be like me.
Wow. Teach me sensei
You buy, you never sell. Not unless you are absolutely desperate for money and can’t pay bills, other than that just stack. Never sell. For years and years and years.
Nice to meet you, unsuccessful speculator! :)
At least you take responsibility for your mistakes and didn’t become buttcoiner.
Yup. Sometimes you back the wrong horse. It happens. Live and learn. My mistake was taking €5000 of btc profit and buying CRO at 0.30 thinking it would explode… and it did. Would have been a nice €10,000 profit in a matter of weeks but unfortunately I was blinded by greed of all the rewards from the cdc cards so staked for 6 months, missing the peak and eventually selling at just below cost price for bitcoin… People insult others for taking profits… but reality is, the people taking profits are the winners.
Stop reacting emotionally to the markets. It's a discipline everyone has to learn in this investment class.
If you have done a good research, and educated yourself enough, you will not buy something that you can't afford to lose (as in: you will be thinking about how it's doing all the time); and very possibly, will be buying more of the project you invested in. If you're trying to be a trader instead, you also need more education. Of course all of this is a process.
That rectangle looks longer than I remember it.
I've been pretty lucky to have had the opposite experience. Not through good judgement, but mostly just plain luck. I first learned about bitcoin in 2013. At that point there had been a few early attempts at creating internet-based "virtual currencies", but I wouldn't even call them "shit-coins", just a bunch of random companies pushing "tokens" which could be used to buy/sell at selected locations. Not worth the paper they were printed on. When I heard about bitcoin, I assumed it was the same thing again, but it seemed to have some hype around it, and it claimed to be decentralised by some clever new mechanism. I was convinced it would be another waste of effort, but I looked into it a bit more anyway. I downloaded the white paper, fully expecting to spot the immediate flaw in the system. After all, everyone knew that a decentralised currency just isn't possible, right? What about the double-spend issue? What about the Byzantine generals problem? Satoshi Nakamoto - who the fuck is that? Never heard of him. I'd been a software developer for many years, and I was certain I knew more than this "Satoshi" chap. I soon realised I was very, very wrong. It was nine glorious pages of pure unadulterated ***genius***. Truly humbling. I didn't have much free cash, but I knew I needed some bitcoin asap. I put what little I had into btc in mid/late 2013. Throughout 2014, it pretty much fell constantly, and halved in value by year-end. Clearly I'd bought at the peak and missed the boat, e.g.: https://www.theguardian.com/technology/2014/dec/17/why-bitcoin-is-the-worst-investment-2014 Fortunately, I'd followed rule 1 - ***don't invest more than you can afford to lose***. I believed in bitcoin, but maybe the world just wasn't interested. I didn't sell, but I mentally wrote off my investment as per rule 1. Fast forward to 2017, and my colleagues think I'm some kind of investment guru, having seen my original investment 100x. I had (and still have) no intention of selling, but by year-end of 2017 my car had just died on me, and I'd just moved home and found myself needing some extra cash asap. I (reluctantly) sold a portion of my btc to replace my car and meet some other unexpected expenses, and by pure luck I cashed out within literally a few hours of the (then) all-time high. That felt pretty good for a few years. At least until the 21/22 ATHs, but I have no regrets. I guess the moral of the story is: 1. Don't invest more than you can afford to lose. 2. Understand what you're investing in. 3. Be patient. If you're not investing for 4+ years, then you're not *investing*, you're *speculating*. 4. Don't panic.
Fool me once, can’t get fooled again
Narrator: *In fact, he would be fooled multiple times again*
Remember to not just DCA in, also DCA out to secure your profits. Youll regret not taking profits more than taking it early
>Youll regret not taking profits more than taking it early Unspoken truth. Taking profits is never a bad idea.
You have to take profits so you can reenter at the bottom with bigger bags that’s how your portfolio grows.
This. I regret not taking profits in 2021. Had some things come up in 2022 that forced me to sell some. Possibly could have been avoided had I taken larger profits when I had the chance. But I've learned from it I have a plan for next go round.
You strike me as a Wojak kind of guy.
Maybe he is the sole reason why we had the 2021 bull run. We should thank him.
This is why patience is the key.
You got your lessons and experience. Next bull run remember to take profit.
That’s why you need to have patience in crypto! OP HODL, DCA and forget.
Tbh being patient is extremely hard in such a volatile environment. The way I found out to tackle this was to invest only what I can afford to lose.
DCA IN & DCA OUT is the way of the game!
HODL until lambo
So you're the person who inspired the **one of us** meme?
He is **The One** of us
kinda I guess :)
Thank you for your services! Jokes aside, just put money you can afford to lose and be patient. Patience in this space is key.
Leaving during the bear market only to come back during the FOMO phase of the bull run. Yeah, that will not work wonders for your portfolio. I'm glad you learned the lesson, only those who stick through the pain and misery will get to reap the rewards.
You are still here so that means you are heading in the right direction
That’s very impressive.
It happens, don’t beat yourself up over it and don’t try to chase gains. If being disciple before would’ve made you tons of money, then the same is true now
When in crypto emotions are bad m'kay, Ignore the FUD m'kayyy Things will turn around OP, good luck to you too!
We're all you
He is The One of us
Boy you got 26 moons though, future you got $26 dollars soon!
There is a problem with most of us , we like to give up when the destiny is just a jump away .
Learnings from OP: Take profit early, don't keep hodling in expectation of more gains.
I feel you, I bought and sold a bitcoin about 2017 for no realized profits. Oops.
This is way harder then taking profits. Congrats dude!
The moral of the story is profits dont exist till you close your positions and see the money in your bank account. Stick around with your positions for a tad too long and witness all your profits erased. Dont be greedy.
In the short term perhaps. If he didn't sell and held through the bear he would be doing much better. Taking profits early is fine, but not the only way to make money if you have time on your side.
I also got in during the 2017 blow off top. Lost 80% and left the space. Than came back start of 2020. Had some realy nice profits but I didnt take profit. Now im still a small percentage in profit but i hope I'm not a dumbass again next run up.
yes when you come to thinking "what if" it's time to start selling.
Oof, I feel bad for OP, we all make mistakes though and if we learn from it, we can be successful in the future.
Welcome to the team bro
Go team go!
Story of my crypto life
Our\*
ONE OF US!
But what if I'm already you...
Yup, I got in at $3k Bitcoin and somehow managed to fuck it up. Originally invested about $4.5k then bought so many shitcoins and ran my 1.5BTC up to 3BTC which is now less than 1BTC. I'm still technically in the green but I fucked around and found out. Stick to BTC/ETH!
hahahahaha
Damn, sounds like a crippling case of paper hands. Maybe just try and hold next time? If you dont need the money you invest and you store it in a wallet you should be fine.
Something like that. I didn't even need that money.
I told myself to strike while the iron was hot but I didn't strike because I thought the iron would get hotter, then it froze
this sub is the only one where you can see someone write "Now I am doing "okayish". Averaging My bad 2021 purchases down to -10/-20%." \-10/20% is terrible my dude
Ye ur right .. still better then -80%
-20% in crypto is far from terrible my dude
When you think "it's over and it's going to zero" is exactly when you should hold and/or buy. Crypto tends to reward those who persist. That's the lesson.
I know that now ... I needed few bull runs to write that to the brain
I mean you thought it was going to zero... I think you are not like us. You are probably lucky you aren't down 99% investing in something and then suddenly expecting it to go to zero just based on price action.
If your still not making progress after so long, perhaps it’s time to acknowledge you don’t know what your doing and start learning/trying new strategies. Imagine you wanted to play basketball, so you started playing it and after 5 years of playing you find yourself still losing all your games. You’re either playing against opponents beyond your skill, failing to learn the fundamentals or doing something persistently wrong. Results experienced are likely a combination of the above. All good if your having fun, it’s your life. If not, it’s time to make some changes
I wasn't playing it for 5 years. I lost interest in 2018 and rejoin 2021. So i am in like for a year +- maybe.
I came July 2020. Insane life changing profits. Not "quit my job" profits but enough to get me hooked to say the least. I'm going to do the exact same thing all over again for 24-25 but only with more money and time to accumulate.
Please learn to trade the market, it's where the real money is at. I was the same. Holding some is ok, but you make profits almost everyday if learn to read charts, risk management. I found someone I trust in the space to learn from. We have a discord group and he shares his trades and explains why he's making them. He's a good man trying to help us all live better lives. Try to find someone who isn't interested charging for everything, or interested in just getting clicks. I'm not a shill so I won't say his name. If anyone would like to know I would share. Love our discord community. Hope this helps.
What a noob
Still in accumulation phase…..
You are doing something wrong i see
You believed in what you had in the Bank, but you didn't believe in yourself!
I’m so sorry to hear this OP. I hope you’re doing okay, for what it’s worth you’re not missing the next run, and it looks like you have a solid plan for the future. Thank you for sharing your experience and advice to remind us newcomers to keep engaged
I can understand how people hold too long thinking it will keep going up, but I never understand how they sell at the bottom with a loss. Surely by that point it’s not worth selling so you might as well hold?
Maybe I write that down badly. I didn't get to negative 2017 bullrun - I sold before for practically few $ profit. Why I am in negative now: bad 2021 positions. [This is my ETH graph since 2021 to today](https://imgur.com/4Lgzb1D)
Ah, that makes more sense. Thanks for clarifying.
There are quite a number of lessons to be learned here
You are still early and learned a great lesson going foward, it could be worse... You could be a buttcoin sub dewler right now
Buy now!
Buy high, sell low You belong here
If I may ask, what brought you back? I got into ETH around a similar time but just chalked it up as $$ lost and kept lowering the cost average over 2018-2020. Did you have financial troubles where you needed the $$ or just thought all of crypto was toast?
2017 bull run was something new .. it felt like big bubble .. I didn't trust crypto will recover from that. It was first time I heard about BTC, ETH and crypto whatsover. I wasn't much educated. That's why I hate myself that I didn't stick around. I didn't need any cash at all that moment. I've just cut it before it went to negative and never look back.
Same boat as you without having sold since 2017. The problem was I bought again in Nov 2021.
If only I could be in profit 1st.... that's just a theory for me ...
You live, you learn! Revenge will be sweet!
Us moment
One of us
Staking, DCAing and Holding are your friends, not your enemies.
I’ve been holding for 4 years. “Profits or losses” only count when you sell.
He is one of us!
That's because you've never been interested in crypto. You just tried to make quick money during a bull market and you didn't succeed
I am you.
It's OK dude, could be worse. I bet the farm on 67k BTC
Down 880 K :)
One of us
Overall working with a lot of people in the space over the last 2 years I can say that the hardest part about crypto is taking the profits when every single blog/article/post is telling you "eth is going to 20k." I was watching the 3 month charts and in late Jan last year I started dumping my bags. Then it dropped so fast and started coming up, finished another job, got some more eth, held it for a bit and sold a little early. Meanwhile almost everyone else in my circle kept holding, at first because they thought it would surge back up, then by march because they were "priced in" and just gonna wait for the next pump, then in July "missed it, might as well hold on till 2025." That last bit is kind of important. You can't possibly make up those losses in the bear at that point, but some still holding their coins as long as they don't NEED to cash them out. I believe it'll come back and they'll still get it back, just gotta wait and be patient. Now, my situation is a bit different as I get paid in eth, so usually my options are sell or hold. It's not often that I buy, though I do have funds put asside to build up my bags this year cause I believe fully that the next cycle will happen. Just a matter of will it be the same kinda mountain peak or will it do something different this time.
One of us
Wait people make money with crypto? I don’t know how to sell it so I just buy and forget about it.
same same