Learnt a lot in the last 48 hours.
Was watching the markets too carefully and doing too much reading of potentials. Saw XRP took a massive nose dive (10c in 3 seconds) with lots of sell orders coming on BTC, panicked and cashed out my 600 coins @ 3.40. Now I look like a right goose.
So I've cut ties with XRP, purely because I got in at .30c and now it's a personal loss, seeing how much more I could have gotten out of it.
I've decided to put my money into Tron, Stellar, Substratum, Cardano and Cindicator with about 40% of my holdings. The rest is in ETH and thats fine, cos you need ETH to trade with, but my motives have now changed in this game.
I thought it was important to write this as not enough people speak of their losses, only their gains. Whilst this has been a humbling experience seeing the extra grand I could have made (and possibly more), I think its important to not hold onto something for the sake of it, and to think that I turned $200 or so into over $2k.
Onwards and upwards!
Might share my learning moment too in this game.
I've been in crypto since 2014 but only traded in the last 8 months. No stock or investing experience before but I knew some general rules that I tried to apply one being don't buy at all time high.
Last week started following Enigma, around the 2.40-2.70usd mark I think? put money into BTC on Sunday night to buy the coins for a hold time of a year.
Watching price rise Tuesday I start to feel like im missing the run, nervous all day watching the price climb higher. Payment did not clear until 8pm Wednesday night and by that time it was touching $7 on binance.
Transferred my Eth over to binance and watched the price bouncing back each time it started to dip and keep rising. I had a buy order in that I was comfortable at first leaving over night to see if it hit, but no, at the last second before turning of PC all that pent up anger over having to wait for payment to clear and watching the price rise I fomo'd in and bought at the absolute peak of its rise.
Then like clockwork, to the actual second, as if its all it had been waiting for was for me to enter, boom dropped like a stone and has been hovering around 5 and 6 American with a poor Eth ratio.
Its a long term hold and the couple of dollars difference shouldn't matter in the long term but I broke my rule and traded on emotion and got punished for it.
On reflection its a nice wake up call, I havnt lost anything in Crypto in 3 years, everything I have took a chance on has paid off, but this was a reminder that if you are stupid you will get punished for it, even in a market where you could throw money at nearly any coin in the top 100 and make money in a year.
In this emotional state I also shuffled some coins around to try and chase some other stuff, ended up trading out of BAT, CND and FUN positions and look where they are now.