Topic: How I handle crypto regret - page 14. (Read 3444 times)

Regret is an inevitable state of mind in crypto at one point or another:-

why didn't I buy that coin when it was $0.50?
why did I sell this coin early?
why didn't I take profits on the way up, only to see the value fall 50% in a market crash? (a lot of us in the last crash!)
why didn't I buy the dip?
why did I FOMO and buy at the ATH and now I'm holding an unrealised loss?
why didn't I buy more of this coin?
We're all going to make "mistakes" that lead to a feeling of regret and self-admonishment.

I have a couple of strategies here to help me dampen the feeling of regret.

1. I have to realise that regret is largely based on a "maximalist"/perfectionist mindset, which is both unrealistic and unhealthy. We are attached to the notion of maximising profits. But what would that involve? It would involve being the perfect, machine-like investor. Always buying low, selling at an ATH, taking profits at the perfect time. It's an impossible standard to live up to.

Financial investment, you should identify the risk that can come to your property at any time and invest the same cryptocurrency. For failures in the crypto market I think the best way is to learn from each failure and continue to research to be able to start over with other projects, that's the way to get you to succeed in the next trade instead of grieving what has happened.

It will only be temporary since we will aim to improve by the time we make it, always aim to make trading better, things may not goes the way we wanted it to be but when did it on time and properly it will be fine then.

Regret is an inevitable state of mind in crypto at one point or another:-

why didn't I buy that coin when it was $0.50?
why did I sell this coin early?
why didn't I take profits on the way up, only to see the value fall 50% in a market crash? (a lot of us in the last crash!)
why didn't I buy the dip?
why did I FOMO and buy at the ATH and now I'm holding an unrealised loss?
why didn't I buy more of this coin?
We're all going to make "mistakes" that lead to a feeling of regret and self-admonishment.

I have a couple of strategies here to help me dampen the feeling of regret.

1. I have to realise that regret is largely based on a "maximalist"/perfectionist mindset, which is both unrealistic and unhealthy. We are attached to the notion of maximising profits. But what would that involve? It would involve being the perfect, machine-like investor. Always buying low, selling at an ATH, taking profits at the perfect time. It's an impossible standard to live up to.

If I make a profit, I compare my profits to the stock market. If you do THAT, realise you're likely "killing it" even with a "modest" 100% gain (it's ridiculous even to put "modest" here). If you can make a 10% gain a YEAR in the stock market, that's considered a success.

Also realise that the maximalist attitude is largely shaped around only hearing one side of the story of other people's trades. People boast when they're winning, and they're quiet when they're losing. Therefore, you can start to think that everyone's doing incredibly well.

2. I can only compare myself to the other me who didn't get into cryptos at all. That's your baseline to compare to. There really is no other baseline. It's damaging and outright delusional to compare yourself to the "perfect you" that always bought at the exact bottom and sold at the exact top. That you does not exist. It's a damaging fantasy that always leads to you beating yourself up about not making the most optimal decision at each and every turn. Cryptos can quickly lose its fun if you think along those lines.

Are you in profit (as in cashed out your initial investment + profits in fiat)? Then you're winning - you're doing better than the other you that didn't bother with cryptos. Congratulations. You should extinguish any regret, and actually feel contentment at your achievement. Forget the "what ifs?" - you made a decision that has made you better off financially and you've learned a fair amount along the way.

Are you holding an unrealised loss? Then know that it's unrealised and while that can be stressful, you're doing well to hold on and you can be proud that you haven't sold yet. It won't fix the regret so easily, but you have the hope your unrealised loss can turn into a realised profit.

Are you actually making a realised loss in cryptos? Of course, this is the hardest situation of all. All you can do is see it as a lesson you paid for. Nothing is without value, and you will have learned something along the way. You gave something a try, and financially it didn't work out. You may not be out of the game, so you could be in profit in a few days or weeks' time. Or maybe you've just had enough. Fair play. Know that you're actually in a big group of people. Lots of people have faced your situation and come out the other side OK. I lost a fair amount of money in Forex a few years ago. I felt crap for a while, then I stopped feeling crap. Luckily, life moves on. Actually, without that experience with Forex, I doubt I would have found any interest in cryptos - and I have profited from cryptos much more than my Forex losses - so there is that. Plus, cryptos are a LOT more fun than Forex.

I know that everything above is purely based on financial regret, and the counterargument is that "there's more to cryptos than just making a profit" - but when it comes to regret, it's almost always about money.

Time is the best healer but you are always your own best healer. The thing is rather than having feelings of regret, it is a market and you should always understand the volatility of every market which obviously no one can change at all. However, it is better to learn how to either make things better or rather look away when you know the future is always going to be bright anyway.

This is one thing I have always learned how to do and I have never had any issue doing at all. As long as you are ready to learn from any past mistake, the feeling of regret is the last thing you will ever have.

You are right, if we are going to be affected with our wrong decisions in trading or in crypto related then there is nothing we can do then, that is why we should learn how to handle those negative things that we had, learn to forget and learn from your mistakes and don't think of it all over again.

Time is the best healer but you are always your own best healer. The thing is rather than having feelings of regret, it is a market and you should always understand the volatility of every market which obviously no one can change at all. However, it is better to learn how to either make things better or rather look away when you know the future is always going to be bright anyway.

This is one thing I have always learned how to do and I have never had any issue doing at all. As long as you are ready to learn from any past mistake, the feeling of regret is the last thing you will ever have.

To be honest the regret can get really bad at times, especially in a market like this where everything is green and that too in a huge factor. My mood obviously goes off and I lose interest in every other worldly activity.

But since this has been happening for years now, I have become accustomed to it. The regret will eventually fade away when a coin that I am holding increases in its value. It is normal nature to feel bad over FOMO, but time definitely is the best healer.

Some good advice here. The problem is that it is easier sad than done to distance one self from one´s feelings.
The best trader in the end is the one who can handle losses well. (Not me...)

Any time such regrets come up to me, I just kill it with the age old idiom "don't cry over spilled milk ".

There is actually nothing you can do. Rather I learn from the experience and try to use it to advantage if another opportunity comes my way.

Better to regret once and learn lessons than not to regret once and keep regretting for the life time in this system

Yes it is true, and people always get that feeling of regret especially if they have the money to supposedly budget for that certain coin and this greediness feeling always want to buy a coin at a very low price because the lower you get the greater profits you will receive once that coin increases. It is always also about being greedy when it comes to financial situations such as trading. I always regret if I had not buy a coin I was rooting for and the next time I checked it had already skyrocketed but I always brush off the feeling right away and move on.

This market is very specific. You can't control amd predict everything. There'll always be missed opportunities, lost trades, denied profit. This is a part of crypto trading and you should treat it normally, should accept it.