This topic of trading and investing and emotions moves me right now. Like how much to invest of your wealth. How to find peace with your investment vs freaking out, feeling I have to little or too much bitcoin at the moment.
Started in bitcoin right before the last bubble (but was total noob to make much of it). I got already *a lot* calmer in the last 4 months, having more experience. I was in minus total when the course fell, but I just happily bought more bitcoins and this served me well, now I greates plus ever (~about 15%).
And I am still struggling a bit with the inner game of investing / trading.
As a noob I had nearly all invested in bitcoins at one point in time in the bubble, it was terrifying
. Definitely too much invested. Then I sold most and I found myself fearing having too few bitcoins and missing out. Now this gets better and better – and I am still struggling. Right now I feel bad cause I could have 1/5th more bitcoins than I currently have if I had bought more (now I have fiat sitting in my account).
Then I would have no more fiat in my exchange. I now plan to hold bitcoin for a year for tax reasons. The idea was also that I can stop myself thinking too much about the current bitcoin-prize all the time. But now I have still fiat and this makes me feel urge to follow bitcoin course and events closely to use opportunities to buy.
Somehow it seems no matter what I do I freak out
. Well, it gets better. I felt good at a certain point where it went up and I was mostly bitcoin.. I was happy it was up, but also wanted it to go down again a bit so I can buy more cheap coins. Haha. A few days of perfect balance.
I think about just investing the rest of my exchange fiat to bitcoins no matter the prize. So I can not follow it so closely for like a year(holding longer than a year for tax reasons). But can’t get myself to do that. And I guess: the next bubble probably comes in less than a whole year anyway.. And when there is a bubbly it seems cracy not to sell when it’s pretty high and buy lower on the crash.
Ok, right now I decide that I am happy having a bit of fiat. In case someone dumps 700 000 coins:) (it’s only 42 000 coins to flashcrash bitstamp to 0)
- “Don’t invest more than you can’t stand to lose”
Well. I guess when you are very rich you can just choose a few startups or investments and know that some will work out and some not.
I have like 65% of my ‘wealth’ (total about 15000 dollars) in bitcoin. Sure I care about this 65%.
I understand it means I shall not invest so much that I wake up in the middle of the night or am glued on the screen like cracy. Cause my whole life depends on it. Cause panic makes no good trading decisions.
On the other hand I feel I have to invest a large portion of my wealth, cause less is just not enough to make a good growth life-changing.
Any thoughts… appreciated
(Ps rpietila has a big popular post on how (much) to invest, if someone happens to be able to point me to that would be great, thanks)