Quote from: Hal9900 on October 28, 2019, 01:41:02 PM

Hello,

I got into Bitcoin last February. I don't know anything about trading though I often watch Krown's Crypto Cave on YouTube. It's just as confusing to me as it is fascinating. I don't want to be a trader because I know nothing about it but since I bought my first Bitcoin I set up alerts on my phone for sudden increases and decreases and I've noticed patterns.

For instance, on Friday when Bitcoin jumped 36% from $7,400 - $10,300 my alerts on my phone were off the charts. I've seen this before, most notably when Bitcoin jumped up to $13,600 in September. Both times I felt that whales were pumping and dumping and I pushed the button on my phone to sell high but then I started shaking and canceled the sale. Sure enough, a couple of hours later Bitcoin gets dumped and goes back to reasonable levels.

Guys, I know I'm stupid because I'm asking myself, in both instances, why I didn't sell high and wait for Bitcoin to come down and buy again? It seems like a sure thing. All I hear are stories about people losing the shirts off of their backs from trading so that's why I just hodl. Am I missing something here? When I see the whales move the market this quickly should I just grab onto their tales and go for the ride? It seems like a sure thing but I know I'm missing something. Please educate me as to what is wrong with my reasoning.

Thank you.

Hi Hal! Welcome to crypto. I, probably along with a lot of people here, have been in the same boat as you. When it's pumping it's quite easy to get carried away and expect MORE. However, one important thing you should consider is that the SELL button is your friend, all you need to do is ask yourself, will I be happy with my profit if I press this sell button now?

It can always go both ways and whats important is that you set trading GOALS and follow them.