It seems every time I find something that looks promising, I'm just a sucker waiting to give someone else a payout. I have been following advice a gentleman offered to "hodl" my bitcoin, from $984 all the way down to now $436. I've just been fooling myself, telling myself "Don't worry hon, it will go back up! It always has!" I've been spending my time reading the forums and hoping. My friends called me crazy when I told them it's a sure thing. The shame is just as bad as the lost money. So I quit. You guys win. Coins sold.
You are clearly feeling gut wrenchingly sick.
Back when Bitcoin was up at $1000 and I was actually making money trading it, I always felt as though I was doing something very wrong (morally wrong), and this is exactly what it was. If a clown like me could be making money in Bitcoin, it is only because a whole of other people are losing. Bitcoin is a nasty pernicious and highly manipulated market full of dumb money. No offence but dumb money means you, most certainly your 'hodling' gentleman friend, and when it comes down to it, me as well (most twitchy and reactionary shit trader ever).
As regrettable a position as you find yourself in having taken a 50% + haircut on a trade, you have probably done the right thing, albeit probably only just. The intermediate bottom is not in yet, but I think that the next floor Bitcoin finds will be it. I reckon if you have your capital lined up in buy-in tranches from mid $200s up to $300, then you have a good chance of taking a bite at the next bottom, and a good chance of recovering much of your lost funds. If things go very wrong however, and the bottom turns out to be much lower than this (which it might) and their is no momentous rebound to speak off, but months of apathetic trading (think of masses of jaded Bitcoin investors feeling just like how you feel), you should at least get the chance to take your money back, if not take a small profit. Knowing when to leave the market however, is going to require that you stop listening to Bitcoin Nutters and start tuning in to traders or tech analysis guys who are a bit more on the money. There are quite a few of them around......just not too many that come on this forum.......'arepo' (on this forum) seems to be quite good....but going by the thread started by his subscribers, possibly dead, or in prison.
In fact, this forum is one of the very worst places to for your mind to be if you are trading Bitcoin. Even if you are wise enough to disagree with and reject the Kool-Aid that is splashed around here in copious volumes, you may find yourself 'rejecting it too much' and taking lines of thinking or opinion on Bitcoin that you would have never taken if not for having come in contact with the Bitcoin Nutter. The Bitcoin Nutter is a dangerous animal and should never be approached.
", without going into any specifics.
have you ever planned and executed anything with a timeframe longer than 15 seconds?
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