Topic: How I handle crypto regret - page 15. (Read 3444 times)
Better to regret once and learn lessons than not to regret once and keep regretting for the life time in this system
That's life, it's completely normal and you should know what is a good investment which btc isn't that known and trusted in that days around 0.5 usd.
Bitcoin is the best investment so far. It is the only crypto currency rather the only asset on the face of earth which is capable of making mediocre millionaire in easiest and simplest way without keeping them wait for their whole lives. Due to the volatility of digital assets, it is difficult to handle them but if a novice just hold his coin and notices the market changes for some month, he won’t face any problem in handling any digital asset.
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.
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...)
The best trader in the end is the one who can handle losses well. (Not me...)
The best thing is to just try to move on
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.
I think you do not have too much regret in every transaction, you can see that the market is constantly changing and difficult to predict, so the failure of trading is very easy to understand. You still have a lot of opportunities to earn money in this market so there is no regret. Walls are so uptrend it is easy to trade successfully, or plan to invest and comply with it. 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.
I just accept that it was my mistake. I try to learn from it and move on, and next time I would compensate that loss.
Learning from your mistakes and moving on is a good thing, however to try to compensate for your losses it is not, you must treat each trade as an individual thing if you lose a trade you cannot try to make up with the next trade because if you do that you could try to enter in the market at the wrong time or you may try to hold for too long instead of concentrating on making the best trade possible.
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.
Just walk away pack your bags and ready to go to the nature. You need to reset your mindset and focus or do the purge what happen make sure you gonna learn something new about that. Fomo is really hard to forget but its a lesson or learnings that we must overcome to be a better trader someday. People feel this so many times especially when they study research hard to the coin that they want to hold for longterm then accidentally they sell it early because of some reason that they don't understand or something like a fake sell or fake downtrend then next day it went up and to the moon, and that feeling of so potato. So refocus good luck to you trading career.
Just look at me. I don't regret for having not bought any btcs this year evenn I am happy that my predictions were right
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.
I just accept that it was my mistake. I try to learn from it and move on, and next time I would compensate that loss.
-snip-
Be very decisive with your calls and make sure you don't look at the markets you missed out on during this period and focus on what is at hand. After all, it is not that hard to make the right calls in a surging/dipping market.
Also, remember to be ready to enjoy/suffer the consequences of your own action and do not take decision making lightly or hastily.
That's life, it's completely normal and you should know what is a good investment which btc isn't that known and trusted in that days around 0.5 usd.
I know that in the end I still made abundant gains but what makes me feel regret is when I remind myself of my goal. I'm an adult now and my life isn't that happy and I know that having a lot of money would change that.
In my opinion, you should not be pessimistic about yourself because the decisions are not effective. Because no one can judge exactly what the future may be, even if they have the most experience. In the crypto market, every decision can bring success or regret in a very short moment. You should be optimistic for that. I myself regret that I did not have the patience to make a break when the profits were bigger. Practical business is like in life.
I don't have any cause to regret whatever actions I have taken as far as selling my cryptos is concerned whatever my instinct tells me to do when l feel like selling off I don't hesitate of course I have a firm belief that there are better opportunities ahead well this a personal opinion.
I ought to disagree with you. It's hard to believe that you don't feel any regret on your crypto decisions, you should have felt it at some point and you just don't wanna admit it because of your pride maybe. It is inevitable to feel those emotions especially if something that could bring you fortune end up earning a dime because of wrong instincts. I too have my fair share of experiences so I can say. 
I don't have any cause to regret whatever actions I have taken as far as selling my cryptos is concerned whatever my instinct tells me to do when l feel like selling off I don't hesitate of course I have a firm belief that there are better opportunities ahead well this a personal opinion.
The first point of the OP is critical if you take the time to see the amount of money that you could have made if you invested in something else then you'll find the differences are incredible, it doesn't matter if you invested in stocks, bonds, gold, silver or even real estate there is nothing compared to the profits that you got with bitcoin without doing anything, even at this point with the price so low my profits are great, that is why I do not have any regrets.
if compared to gold, silver or real estate in cryptocurrency we can get bigger profit. but we must be smart to process cryptocurrency in the future and maybe now is a good time to get bigger profit.Why does that even matter here, I mean I am referring to the guy who is talking about the gold and silver and shit like that. BTC is completely different thing and it works on the principle of blockchain and not the gold or silver. The crypto market is completely different thing, it has different agendas and also different work mechanism. So there growth will be independent as well.
For the OP I am sure you can get hold of it as you pass more time here and see how these things are really common to the crypto holders. If you just give it little more time then you will surpass everything here.
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