What are some examples of when emotions mess up your trades?
During the pre-bull run in 2017, i had some quantity of Ethereum which i kept for over the prevision years; hope to trade when the market appreciate. In 2017 when i saw the market positive movement; haven seen the movement before on a swinging pendulum, i placed my trade at the price of $812 in Dec. 20-2017 and after some few months away the price hit $1,377, this was my emotional mess.
Lol, I sold mine when the price goes to $400 and then keep some, months later I dumped another set in December 2017 around $800 I think. If I just hold on it for a month (2018) I could have sold them in it's all time high. Anyways, now I just accumulated at lowers lows and hope one day that the price could go on another 4 digits or more. Really hard though, if we involved our emotions here.
I thought I was alone in this, I think mine is even worse than all, though the difference in mine is that I got these coins free through bounty, just that it can be so painful seeing $16000 fly away just like magic and you will be wondering what just happened, during the time bitcoin price was consolidating itself.
I had most of my coins shoot up from total value of $3000, $6500 the first week, my emotion did allow me take my profit, with the news that were all round then that bitcoin will hit $150k, from $6500, I witnessed it jump to $10000, from that to $13k and from $13k to $16k, I started targeting $100k before I withdraw them.
Little did I know that the market was going to correct itself, it gradually started going down and my stubborn emotion still didnt give way to panic sell till I lost the value to $700 now.