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Painful lessons in crypto - DO NOT daytrade, FOMO is cancer

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Just glanced at some of the trades in my Order history on Bittrex...the ones that crushed me the most. Every single one of them, every single one, have one thing in common - day trade.

Every single loss was made chasing some pump or waiting for the pump to start again and denying the freefall. Every single deathblow to my portfolio was made not when I was away for 25 years in cryogenic sleep in my fridge, but when I was in front of my computer glued to the monitor trying to will the chart to go up and waiting every second to give me some 100% pump green dildo candle.

Well I'm sure I'm not the only one, there has to be at least one anon as retarded as me - don't do it. Fuck daytrade, fuck watching the charts, hell even fuck Blockfolio. Fuck it.

I just realized that had I left one coin (doesn't matter which one, I don't want this to turn into coin meme fest) on my bittrex for 20 days, today I would be slightly more than double up.

And to make matters worse, before I bought that coin, I daytraded one piece of shit, won, won, won - got cocky - blew it all. So if I had any brains, the day trade gamble and going into this particular coin few days later, on this day I would have probably 200% more in my portfolio.

But I don't. I degen'd out and tried to catch the bus. This crypto shit doesn't work like that. Even the TA folks aren't safe, but they at least know how to read the market signals, to some degree, despite all of this being driven by emotional clueless morons (me) and whales (probably as emotional and clueless but with ridiculous bank).

Don't daytrade anon. Don't. In my order history there aren't many misses and my "research" would be some common sense reading, scoping the net for info and I guess a hunch, and all the coins I had...were good ones. I sold them on daytrades and fucked up.

Don't do it. Buy something promising and hold, ld, not dl like some degen faggot.
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>>3008411
Its gambling. You can only stop when you have nothing left and you wont take the gains because there could always be more gains.
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This was a good post. Fact is, most people trading will lose money, for many of the reasons you have pointed out. If you don't want to keep trying, and learning, that's fine too.

FOMO stems from human emotions like greed, impatience, and desperation, it doesn't matter how "smart" or "retarded" you are, everyone is capable of it.

Would you mind explaining your initial motivations for getting into day-trading in the first place. Obviously it had something to do with making money, but did you want to do so in an fast extremely matter?
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>>3008411
>So if I had any brains, the day trade gamble and going into this particular coin few days later, on this day

wtf is this sentence ?
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>>3008470
>in an fast extremely matter
*in an extremely fast manner
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>>3008411
dubs dont lie
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>>3008411
daytrade is not so hard if you set stoploss or have a script that sells out at a certain price if it doesnt moon. that is, if you treat it like if it DOESNT go up it will autosell out at x. Then you have all the tools in the universe to make sure you are right more times than you are wrong.
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>>3008470
>Would you mind explaining your initial motivations for getting into day-trading in the first place.

>>3008470
>impatience, and desperation

You said it.

I don't want to make this a coin or number-fest. But I'll say this. During 2016 I rolled pretty high, compared to the rest of my life - financially speaking.

Stayed frugal to a point because I'm a cheap fuck by nature but - the allure of earning stayed. My business went a bit sideways as it has to but my degen self denied it...I was pretending like shit didn't happen or that it will change NOW TODAY...and that didn't happen as well.

My savings were going down so I said fuck it at least I have some chances to make something of it in crypto and get my business back on its feet.

And this is where the pattern emerged. On the days when I was working and being focused on something else, I profited in crypto, because I believe we're still in this very unprecedented bull run, at least compared to oldfag boomer (((stock market))).

As soon as my business got slow, I would hop on to crypto, with delusions of "maybe this is the day when all my worries go away" and...the daytrade commenced.

Pathetic. Press S to spit in my stupid ass face.
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>>3008411

I never daytrade with more than my fiat capital investment. Even if I lose everything, I can still cash out and be none the worse for the wear.

Even then, I've diversified. I only follow one, maybe two coins on any given day. I can't keep track of all 9 I own past the daily% arrows. But I'm confidant in those that I've bought, so it doesn't bother me too much if a few under-perform for a couple days.

Do not let your emotions rule you. Anticipation, greed, these are the enemy of sick gainz. Clear your mind of such thoughts and you too can ride the wave.
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I had 2400 NEO, tried day trading when it was around the 300K sat range, went all the way back to 2140 after making stupid trades. Sold 1100 a few days ago at 580K thinking it was the peak. Never bought back in since it kept rocketing. I told myself from the beginning to just hold but didn't listen to my instincts. This 30K AUD would of been close to 70K.

Don't worry OP. It's these stupid decisions that will teach us a lesson in the long run. I will never day trade again and will continue dumping every paycheck until I am back up to where I was.
Make a plan and stick to it, no point giving up now.
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>>3008540
>I only follow one, maybe two coins on any given day. I can't keep track of all 9 I own past the daily% arrows.

Yeah this is also one of the "curses" of crypto daytrade fomo degeneracy. Say you lose some money or your favorite coino goes down or whatever. If you're an emotional faggot like me you start thinking oh shit this is going down ain't it - time to find the remedy!

Then you see all these random daily pumps, 100%, 200%, all over Bittrex, on some shitty no-volume no-name fuckcoin...and you start thinking - what if I caught these pumps...half of it...just once!

And then you start digging thru that mud of low volume shitcoin territory, that never ends up good, wasting time, develop fomo, try to catch some spikes, I mean...

IT HAS TO STOP.
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>>3008411
look into studies, not just 1min charts, sweetie
greed gets you unless you go % by % inching closer to that goal, whatever it is
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this cant be im using MACD STOCHASITC CHAOS BAND BOLLINGER RSI MA FIBONACCHI never disappointed
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>>3008594
>greed gets you unless you go % by % inching closer to that goal, whatever it is

Truth. If you start thinking "I could've been up 50000000000% if I dumped money into FuckCoin before it pumped" you'll end up nowhere - like I did.

Set and forget.

I think you can realistically, with some smarts and due diligence, double every month. At least in this atmosphere of BTC rising and all. So rather set goal to put 1000 and get 2000 by the end of the month, instead of going full degen with those "1000 today, 10000 tomorrow" moon dicaprio.bmp fuckery.
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Honestly, Bitcoin is always the savior by default. I missed out on so many moonings and lost way too much on stuff like Minereum, sold Bitbean at 19 sats from a 10 sat buy on top of selling Redd at 48 sats from 19, and holding Eth Classic for a whole MONTH when it was around 0.003 only to move it to another coin for a day and what do you know, the one particular day I choose to get it out of ETC it was the day it doubled to 0.007 and more. I haven't even bought any TenX, NEO or OMG either.

I had a goal to be sitting on $10,000 by the end of the year starting since March, and already I'm at around 5-6K despite all my misfortunes. Why? Because despite missing all those other chances, I've been sitting on two things: one coin I genuinely believe in and won't trade whatsoever, and with my remaining daytrade money, Bitcoin. By missing all those other alt moonings I've been leaving that money in BTC by default, and that in itself has already made huge progress over the months.

TLDR: Just remember, don't fall for FOMO, Bitcoin will always be your friend to help you reach your goals.
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>>3008562
true

i bought 5 mil dogecoins after the latest bitcoin pump in 2013 i think , i considered a loss from the begining. but i said i will keep them for the next bitcoin pump.

i payid 2 k for them and in the latest bitcoin pump that would have been 25k .

i forgot about my initial plan to hold them to the next pump. and spent them on doge dice and stupid stuff.

now i am day trading on margin... i have 800 , i know its a bad decision but want to make a decent amount before making a good and safe portofolio
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Yeah mfw when i had 11k dgb and only had about 400 at the ath. Slowly sold large chunks for tiny gains early on, like a fool.
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>>3008724
i dont understand what is that.
how much is it USD ?
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>>3008732
11k at @ 103 sats, sold 8k of them between 400 and 600 sats. Sold the rest @ 1200-1350
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>>3008411
FOMO is the worst thing in trading. It's panic buying and arguably even more dangerous than panic selling.
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>>3008411
If I just held the coins I bought in the early days I would be sitting on roughly 3000 bitcoins today, but nope I'm too much of a sperg and have to chase quick profits.
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>>3008628
No you can not lmao. 2 ^ 12 = x4096 after a year. So put in 1000 in you are a millionaire or what haha
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>>3008646
Diversifying in alts will net you a fuck ton more the n bitcoin. Maximum potential of BTC is another 10 or 100.
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So should i keep buying ethereum
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>>3008790
but I fomod on neo and made a few buks
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The biggest mistake is to sell off all your position at once. This is what leads to panic buying and panic selling. If your favorite coin moons, and you expect a dip, just sell off a small portion of your profit and wait. For the love of God, don't sell it all. If it keeps going up, no drama. If it goes down, rebuy more, or keep the profit in btc, whatever.
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>>3008807

I didn't say for a year straight, I said as long as this bull run is moving...
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>>3008462
This.Human psychology is fucked up
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>>3008866
This is the way of doing it, though I am fine with completely cashing out a coin.

This is the way I am doing it:
>Build a solid underlying portfolio of 5-10 coins >BTC/ETH should be 30-40% of it at anytime
>Have 10% to chase short term gains
>If you make a profit on a promising coin, cash out half for day trading and jig under you portfolio
>If you make a profit trading on a shit coin (i.e. BCC, Hempcoin, the one I am in at the moment is Cloakcoin) just take it all, get back to your 10% and top up portfolio coins
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>>3008540

>anticipation, greed these are the enemy of sick gainz.

This.
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buy the rumour, sell the news. Right now bnb is in rumour phase, just like gas was 2 days ago and yesterday, but now it's into hype post phase, close to news phase. it will kick and scream for a while and i suppose the swings can be profitable but if you want a mooner...
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And this is why daytraders are called niggers, kids.
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I've been pretty successful so far with day trading. I've tripled my initial investment. Probably could have made more, but I tend to sell while the selling is still good - relying more on safe gains than OMG MOON gains and getting out as soon as the price starts to fall. If I know I won't be able to watch the price, I'll set a safe sell order yielding only a few % (<5) gains.
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>>3008821
But what do you mean by diversifying?

Investing in shitcoins or investing in coins that are actually worth something like LTC or ETH?
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Day trade with 1/10 or 1/20 of your btc at a time, don't be an emotional bitch and you'll get to the moon on your own terms. 200% in a month is nothing to me.
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Only(!!) trade uptrends, never leave an open position and stick to your targets.

But yeah, accumulating on dips or at lows is probably easier at the beginning
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>>3008411

>like some degen faggot.

Goose is that you?

It's all in the mindset. First two times I entered the market (two weeks before BTC did its' run to $1200, right before ETH took off to $60) I had a really good run initially and kept trying to jump on the pumps. Instead I was just taking them at the top.

This time when I got in I chucked funny money at it, joined a couple of circlejerk FB groups to make sure I wasn't buying into any shitcoins (I was familar with about 80% of them already). I've managed to keep my eyes off the screen and to not touch it.

That's the key; just buy (not at the top!) and hodl
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Thos is what DGB niggers tell themselves so they can fall asleep at night.
While everyone with a brain was a "degenerate gambler" who sold above 2000, diginiggers are sitting in front of their computers posting pictures of robots hoping that one day they can leave baghold city and that the coin doesn't die out. Oh yeah, you did know that, right OP? That coins can die and never return to their ATH even years later?

Meanwhile all of us who aren't HODLtards are making gains with NEO
Thread posts: 38
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