This is the worst investment i ever made its done nothing but slowly bleed to death ever since I bought it. The worst part is that I listened to all the people saying hold, now I feel like a fucking fool and hate myself for not selling sooner. God dammit!
IM SUCH A FUCKING IDIOT!
If you don't realize what's around the corner then please sell right now and realize your loss.
Lol - panic makes me laugh at all the weak.
I've lost almost HALF my money, fuck you you prick! You laugh at that? What a fucking asshole.
Your first major newbie mistake was investing your
ENTIRE $3,000 all at once... you never looked for a good entry price, never did any dollar cost-averaging or did anything sensible here... I doubt you've ever traded a stock or any financial security in your life, and probably did about as much research as a 3rd grade book report.
tl;dr ..............
Sorry your first brush with crypto trading has been rough, but you need to learn how to manage your money and think things through...
-- The DRK Lord --
You're right. I decided not to sell because what you said makes sense. Thanks.
I need to learn yoga or get more exercise because how wound up and angry I got frightened me. For what I said I'm sorry it was childish and most of all uncalled for. Sorry.
Excellent! I'm glad you were able to listen to reason before doing more financial harm to yourself and having more regrets and bitterness. IMO, that is the best decision you've yet made. Sometimes
NOT reacting to changes in the market is the smart move.
I do
not think you're "stupid" or an "idiot", I just think you're new to this and needed some wisdom and guidance to put things in perspective. When I was a newbie learning to trade stocks and futures I used to kill myself making absolutely retarded and illogical trade decisions, so you're not alone, young brother... almost everyone makes mistakes like these when they first start learning to trade and invest! :-)
I have a few more trading/investment tips for you and all the other newbie traders following this thread. I can routinely earn anywhere from 2.50 to 15.00 DRK per day on as little as 100.00 DRK using this knowledge and these strategies...
Ever heard the old saying "Buy low, sell high"? Almost everyone has... yet over 90% of traders and investors fail to master this very elementary thing. The reason is because people make irrational decisions based on emotions. They see the price of something start rising quickly and they think "OMG I want in!!!" and they buy it right away without thinking. The price may continue to rise a bit longer, but soon the "smart money" traders (the people who bought in before you ever thought about it) are going to start selling and pocketing their profits. This will start pushing the price back down, and the laggards will start selling in the wake of this and locking in their profits, pushing it down even more. At this point, the other 90% of the market thinks "Oh nooooo! It's crashing! We're doomed!" and they start hitting the PANIC PANIC PANIC button like crazy and dumping their shares/coins. This massive influx of sell orders pushes the price down drastically, causing a market correction after the big rally. And while 90% of the market is panic selling, do you know what they smart money is doing? They're BUYING into the panic, and getting all their shares and coins back again way cheaper than they just sold them. And this is what distinguishes the "smart money" from the "dumb money", and how the "dumb money" continually flows into the pockets of the smart money. It's not a "rigged game" and there's no trickery or deceit going on here... most people are just lousy money managers and throw their money down the drain, trade after trade.
Have you ever watched "Mad Money" on CNBC with Jim Cramer? He's a bit crazy, but he's an ex-hedge fund manager who became famous for earning his investors returns of 20-60% year after year. One thing I like about Cramer's show is that he can break down seemingly complicated Wall Street jargon and investment/trading strategies into easily understood statements that make sense to the "Average Joe" learning to manage their own money. You should start watching his show, and learn to apply many of his lessons to your own crypto-trading strategies. One of my favorite Jim Cramer quotes is "Buy the fear, sell the greed!" <-- That is the
perfect way to look at the "Buy low, sell high" proverb. This means that when the market is in a panic and everyone is selling YOU should be BUYING... and when everyone is greedily buying, buying and buying, chasing gains higher and higher, YOU should be lightening the load and SELLING into the rally. You can have great success just by doing the OPPOSITE of what they market is doing, because 90% or more of the people out there are making the WRONG decision time and time again.
The final tip I'm going to give you is the manage the SIZE of your positions wisely, and never spend all of your cash in one buy order NOR sell all of your shares/coins in one sell order. You have to learn to balance out your asset allocation. Hold a certain % of your total funds in DRK, and BTC. This gives you a safety net and room to correct errors. For example, I have 4 different trading accounts at different exchanges, and I try to hold a balance of 100-200 DRK in each. I avoid being positioned 100% long or short for/against DRK. I also buy and sell in a "pyramid-like structure". If I have 1.0 BTC to buy DRK with, I do NOT put in one huge order to buy 1.0 BTC worth of DRK. If the price is currently 0.01150 BTC per DRK I will place the following orders:
BUY 10.00 DRK @ 0.01150
BUY 15.00 DRK @ 0.01140
BUY 15.00 DRK @ 0.01132
BUY 20.00 DRK @ 0.01121
BUY 25.00 DRK @ 0.01110
... and so on ...
If you visualize my order structure, it would look like a pyramid. When you're selling, you do the same thing and create an upside-down or inverted pyramid of orders which gradually sells more and more as the prices rises. When you do this properly, you no longer need to predict exactly where the price will go and hope a single order gets hit at the perfect price point. You let the momentum of the market do all the work for you. And, for example, when your upside-down pyramid of sell orders is 62% completed and the price begins falling, you take the BTC proceeds from that market move and set up a pyramid of buy orders at prices lower than your average sale price. As the market falls/corrects, you're gradually buying back all that DRK cheaper and cheaper. The end result is that you're constantly gaining more DRK and BTC and profiting from your trading rather than losing!
Learn to separate your emotions from all your trading decisions. Trade like a machine or robot whose only goal is to acquire, acquire, acquire and gain larger amounts of BTC and/or DRK. If you're about to make a trade based on feeling angry, afraid, greedy or happy then STOP! You're doing it wrong! ;-)
Hope this is helpful to you and all other aspiring crypto-traders!
-- The DRK Lord --
