Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
JayJuanGee
on 30/03/2025, 01:38:03 UTC
⭐ Merited by vapourminer (1)
[edited out]
If we go to 125k my .00484 would be
big enough in fiat to make up for the 0.00121 mistake I made.

So if we do it before Jan 1 2026 I will explain the mistake.

So?  Essentially, you set aside 0.00484 BTC in order to potentially make up for the mistake that you made in regards to the 0.00121 BTC (like a self-imposed punishment with a possible resolution that could drag out to 2026 - presuming it resolves itself)?

I have made some similar kinds of mistakes in which I locked myself into ways to make up for my earlier mistake, yet when I created my resolutions they would tend to have solutions that involved being able to resolve to either the upside or the downside.. no matter the kind of mistake.. whether I bought when I should have had sold or sold when I should have had bought...

Maybe I could give an example?  One time in late 2015, I had lost my cool when the BTC price went from upper $200s to $500-ish , and I was supposed to sell BTC in small increments on the way up, yet I stopped selling BTC and cancelled my sell orders as the BTC price went from $330 and up to $500 within a week or two, and when the BTC price reached somewhere close to $500 (the then top in early November 2015), I bought like 10x the size of the amount that I should have had been selling.

I cannot remember the exact numbers, but let's say, for example, I was supposed to sell $100 on the way up between $330 and $500, and since I did not sell any BTC within that price range, I ended up buying something like $1k worth of BTC at $500.

The BTC price quickly corrected and it corrected all the way back down to $300, yet for my punishment, I could not buy any more BTC until the price got to a certain level such as below $310, and I had to put extra sell orders once the BTC price went over $500.. .. so for a certain time, maybe a month or so, I mostly locked myself out of doing anything based on my mistake even though the BTC price did correct back down to $300, but it was stuck around $420 for quite a large amount of time through early 2016, and it did not get a back up above $500 until the end of May 2016. 

The fact of the matter is that I could not take the torture of my punishment, so after a month or so of my not being authorized to do anything, I got bored, and I engaged in various calculations and recalculations to put myself back in the game of playing with my cornz, and the reset that allowed me to act rather than sit on the sidelines likely allowed for a certain weighting of selling some of the extra BTC that I bought, even though I could not sell the actual ones that I bought at $500 until the BTC price returned over $500, but I figured out some ways to dance around the topic to put myself back into an active status rather than just continuing to sit around and mull over my dumb mistake.   And part of my resolution related to my having had BTC that I had bought at various prices through 2013 and 2015, and so there were ways that I could categorize my bitcoin to find ones that were sufficiently profitable so that I could sell portions of them, and I had not completely run out of cash since I still had cash coming in, so I was able to still allocate some cash towards buying in ways that allowed me to take advantage of any dips.

I have made several other mistakes, but most of them did not tend to be as BIG (or memorable) as that mistake, and for the most part, from that particular mistake, I learned to stick to my already established system rather than letting my emotions get in the way of what I had already established to be my plan in advance.

I would say that in my beginner days with bitcoin, I had several mistakes where I sold rather than bought and bought rather than sold, but it just ended up being 1 or 2 orders by the time I realized those kinds of smaller mistakes, and those kinds of mistakes were generally easy to make up for... but they would still tend to require removing orders on one side and adding orders on the other side depending on the particular direction of the mistake until I got myself back to where I should have had been, and usually I would add some cushion in order to cause the mistake to end up being profitable... which usually worked, but not every time.