Just to re-post my entry from the Wall thread:
It's as if this week-end didn't happen for my part.
I got out at 880 and went all fiat.
Then, then after a few flush-crashes, I was ready to turn in for the night, and decided not to place a buy order at 550: probably the biggest mistake of this year.
Next morning: 650. Someone here write, that 650 is still a good price to get back in. Yeah, I still expect more down movement and place orders at 550-400
Next morning: 750. This time I small trade between 700 and 750, all the time expecting to flush-crash back down, and place staggered orders at 680-550.
Next morning: 850.
Does anyone see a pattern here?
People learn from my mistakes. If you managed to sell before a crash and it looks like the price is already significantly below what you sold for, buy back in and sit tight, don't hunt for that illusive knife's edge.
I am now back in at 880, having made only a small fraction of a bitcoin on minor trades.
Every decision seemed rational and risk-minimising at the time. I don't get that same emotional roller-coaster feelings from trades any more, feeling rather calm.
Searching deep within myself, I've identified that as calm fear. Even though I only invested in Bitcoin what I really can afford to loose, the loss would still be felt, and that was affecting my decisions.
My next move will be to free myself from this fear. It has a price, and it's Bitcoin denominated. I am going to sell and withdraw some fiat, covering all my investment in Bitcoin purchases, purchases of the mining equipment, plus a small revenue on top of that. What's left, will be completely emotionally detached from the rest of my economy.
Hope this rambling helps somebody as well. It's been therapeutic for me.
It's as if this week-end didn't happen for my part.
I got out at 880 and went all fiat.
Then, then after a few flush-crashes, I was ready to turn in for the night, and decided not to place a buy order at 550: probably the biggest mistake of this year.
Next morning: 650. Someone here write, that 650 is still a good price to get back in. Yeah, I still expect more down movement and place orders at 550-400
Next morning: 750. This time I small trade between 700 and 750, all the time expecting to flush-crash back down, and place staggered orders at 680-550.
Next morning: 850.
Does anyone see a pattern here?
People learn from my mistakes. If you managed to sell before a crash and it looks like the price is already significantly below what you sold for, buy back in and sit tight, don't hunt for that illusive knife's edge.
I am now back in at 880, having made only a small fraction of a bitcoin on minor trades.
Every decision seemed rational and risk-minimising at the time. I don't get that same emotional roller-coaster feelings from trades any more, feeling rather calm.
Searching deep within myself, I've identified that as calm fear. Even though I only invested in Bitcoin what I really can afford to loose, the loss would still be felt, and that was affecting my decisions.
My next move will be to free myself from this fear. It has a price, and it's Bitcoin denominated. I am going to sell and withdraw some fiat, covering all my investment in Bitcoin purchases, purchases of the mining equipment, plus a small revenue on top of that. What's left, will be completely emotionally detached from the rest of my economy.
Hope this rambling helps somebody as well. It's been therapeutic for me.
i have had a similar experience but im kind of noob to the whole forum thing and havent really had a chance to put it in words that people would understand.