You have a long list of altcoin portfolio that have tanked down by 90% since you participated in the ICO. What was $5000 is now worth $500. You are at a loss of $4000 and there happen to be an upcoming token sale that is pretty hyped.
You are in desperate need to recover your losses and you plan to invest in that hyped token sale in hope that you can earn 5-10x. Would you:
1. Pump fresh fiat out of your pocket into the token sale or
2. Trade off the the altcoins you have for BTC/ETH and invest into that hyped token sale.
Share your thoughts.
Don't every try chasing your losses as in never do that and only take away the learnings from your mistake. Because if you do, then your emotion will drive you much more aggressive in trading. If I'm in your position, I will a fresh start and then take it slowly to ensure my gains instead of losing much more.
And mistakes only happens when we go wrong in market like we buy at green and sell at panic, so it is our mistake but learning from it makes us internally stronger and gives us strength to hold and buy on right time then we can recover our lose but it may take time, till then you will have to wait with patience and try not to sell until the price rises.