Shrimp
(A lil big Shrimp in the rough crypto ocean )
1
I am sitting right now on quite a big amount of unrealized losses due to these market conditions.
And most probably you are to.
So how are you copping emotionally with this situation?
Here is what I am doing:
I convinced myself about the fundamental values of my positions.
I also admitted to myself that I have some stupid positions which won’t reach ATH ever again
I realized the urge to lower my buy in for the positions with the biggest loss and I am resisting it
I identified the positions and projects I want to DCA in…yet I am struggling with setting up the buy orders since it just keeps dropping and dropping and my newly bought DCA bags are already in a big minus…more pain yet I know these prices will be reached again I only made smaller gains than I could have.
Next to all that I lowered my exposure to the echochamber of crypto. I deleted twitter and instagram.
I focus on the time away from crypto and cheerish it.
I admit to myself that I was greedy and should have realized profits.
I started to use the bearmarket to learn new skills which will come in handy for the next bullmarket
Last but not least I bought myself a big icecream to thank myself for only investing money I can lose.
I also have big unrealized losses btw, so much that half year ago I was sure that I will be out if the situation turn this bad. Luckily, I put only that amount of money which I don’t use in my everyday life, and I can live with calm if they are gone for some reason. I used to check CMC every 5 minutes, especially when market went down / up pretty fast (20% in a day). This is not the situation anymore.
Now I have accepted, that this will be a waiting game for me. I am also planning to get new skills in the bear market (like learning Scrypto), and also to focus more on myself, rather than the market.
I just invest what I can afford to lose. Maybe this sounds like a cliché, but it is my rule number 1.
Holding = never lose.
I usually try to stick with solid projects that have been proven.
Learn new things, spend time with your family/friends and focus more on your daily life self-improvement
Instead of constantly logging in to your mobile wallet, and checking your balance, use your time to read and study interesting stuff that will help you in doing well-selected and reasoned investments.
1 Like
Shrimp
(A lil big Shrimp in the rough crypto ocean )
4
Congratulations for that development
not checking CMC every 20 min sounds like a really healthy habit to have
I was also very much like that checking my portfolio a lot now it luckily got better even though sometimes it still hits
2 Likes
Shrimp
(A lil big Shrimp in the rough crypto ocean )
5
Thats some good set of rules
Can you elaborate rule number 2?
You just mean that you don’t cut your losses and just hodl?
This definitely doesn’t sound like a cliché I think it is just very smart and healthy to do so!!!
I mean imagine you would have invested money which is not yours or you cannot lose this would make this whole situation so much worse
I always try to study in-depth the project I am going to put my money on. If the project is good, I often chose the “holding” way: this mainly because I am not in crypto for easy and quick money. Radix, for example, is a project with a clear roadmap: I don’t expect miracles overnight. This doesn’t mean that I never cut my losses, because I also felt intense FOMO during luna collapse, something that lead me to make mistakes and overract in front of such a phenomenon.
Besides the work sphere, I try to spend my spare time doing useful things for me: go running, read a good book, watch an interesting movie, learn how to manage money wisely, spend time with my family/friend/loved ones and so on. These sound like obvious things but are smart ways to lower your exposure to the echo chamber of crypto.
i don’t care about the actuall situation. it’s money that i don’t need. if i have some profit in 20-30 years i wiol be very happy. if not then i had a nice time.
i invest every month about 1-2k in cryptos. longterm and not shortterm.
Maybe what I’m doing right now is to brace myself by studying the many unexpected variables in my life, why this is important maybe this will have an impact on the future and long term. Maybe it’s true that carrying the ATH price and following fomo is the stupidest thing I’ve ever done, it’s also not my fault if I first got to know crypto in 2020 where it was a very excited phenomenon in the community around me.
It’s a lot more to learn to ensure information than just an influencer’s tweet, also one I’ve learned. Don’t trust anyone and have to do a pretty strict dyor selection.
Taking a break from the news might be pretty much impossible so I opted to add some travel and exercise if needed. I think I need to take care of my mental and physical health at this time. I also do DCA little by little to minimize the distance of losses and hope to get a bullish position in the near future.
Vacation, eating and partying is all you have to do Maybe I’ll add a little hope and prayers may be needed
Cheers
I am absolutely fine , I am just buying as much as I can, I remember almost buying a load of eth at 60 dollars and did not lol, so annoyed I will not make that mistake again, Of course I have massive losses but I took some money out, its really hard to fight the greed monster right but I will neve make that mistake again.
I am happy with all my projects, and we should be so happy, huge sale, dont try buy the bottom just DCA, remember the last cycles, remember the big picture, dont check price everyday, just chill, keep investing in good projects and trust everything will go nuts again , stake everything for now and dont give up on crypto it is not going away
1 Like
Shrimp
(A lil big Shrimp in the rough crypto ocean )
10
Thats some pretty good words right there Thx! Especially like the Zoom out & look at the big picture part
How do you DCA in? you just say every week I place buy order for these assests at market price?
Or whats your strategy there?
This is definitely a big lesson!
This is gold!!! You know this is the right attitude, I am alright gonna buy more
Shrimp
(A lil big Shrimp in the rough crypto ocean )
11
That is a hell of a good plan! Reading this gives me hope and wants me to go travel
No, it’s not stupid. Experience teach a lot: learn from mistake and move on with your life. We can’t catch all trains out there, we need instead to appreciate the gains we make with the coins we hold.
I think everyone has loss at this point. Yeah it is frustrating to think back a few years ago why you didn’t buy, and now we have another opportunity. Just don’t forget that we have regulatory pressures more than ever.
It is true that it is an experience in learning, but it doesn’t mean that we continue to forgive our mistakes. But the important point is to appreciate and maximize what we have today.
But I hope not everyone has to learn from their mistakes or failures.
I think that’s all we need to do that we can do, considering some countries have to go to war and we only get a small part of their effect. Maybe tomorrow will be worse but come on. sticking to the belief is also not a problem. Even though tonight I see more worries in the market more fud to enjoy
Yes I think we can get through this and will bear sweet fruit in the future. I hope not to miss this opportunity. And become one of the best survivors in taking advantage of existing opportunities.
Thank you everyone, I think this is what we both need to maintain, which is to strengthen each other’s mental health, and being wrong is also not a problem as long as we continue to correct our mistakes that we previously did.
Cheers
2 Likes
Shrimp
(A lil big Shrimp in the rough crypto ocean )
16
The market got even more crazy can feel that it is also playing with my beliefs of the disruptiveness of the blockchain technology
I’m still wondering if this issue will get bigger in the event of a power outage that affects the blockchain network. I guess that will be the end for us
But after I saw the shock of $17K btc and ETH below $900 I feel no longer worried because it is still within reasonable limits. cycle of bad news and other things if we don’t take action I think we will suffer losses later.
I’m very calm. I’ve not gone into debt to invest, and I do invest for a span of years, not weeks. Markets have cycles, in a year or two it may explode again when the markets has calmed down. Additionally I’ve done plenty of research into each investment, and I am very confident that they are under good management and are building something of real value. As for Radix, there is so much happening and deliverables that we are waiting for. Radix has definitely not touched it’s peak value.
Right now I’m trying to DCA to lower my buy-in average, in a way I’m quite happy that I’m able to load up on investments cheaper, even If I’m in the red currently.
You so right actually Radix has so much being developed and ready to be announced, so happy to load up , you know what is funny at 70k everyone (noobs) wants btc and at 18k nobody lol, yeah you go to think long term for those who have been through these cycles we know now is buy time. I cannot believe in a few months Radix will have a dex and projects built on it, so much good stuff ahead.
@Radix_Mommy 0.05 ah thats lovely are you setting a buy order on bitfinex ?
yet I know these prices will be reached again I only made smaller gains than I could have.
Maybe I’ll add a little hope and prayers may be needed