Topic: It's incredibly hard to sell when you are in a profit position, because of greed - page 2. (Read 599 times)
January 02, 2019, 06:30:14 AM
Well, that is a whole lot true and until people actually learn from the mistakes that comes with greed before they will be able to know how to handle themselves, and that is if they actually let go of that greed. I believe excitement, greed and ignorance tend to work a whole lot together. Sure, the media are always there to create the hype and excitements which brings about FOMO and then a lot of promises assumed in people's head, and the only way to be able to handle yourself without having to miss out on any possibilities on the way up and on the way down by monitoring possibilities of trend change is by seeking knowledge which helps eliminate the ignorance and greed from the picture.
January 02, 2019, 01:40:55 AM
I wonder sometimes if people still do jump in without a plan, but every time I read about how tough it is to decide, I guess the answer is yeah, people still come in here without thinking ahead.
1. If you're a speculator, you have your targets. And you have your loss estimates. So you don't decide on the spot, you let the market decide for you.
2. If you're a holder, you also have targets - price or duration. Anything else in between that is irrelevant.
Greed, even if we view it as good, should still mean you can take profits at your targets. I'm greedy for the long game, so missing out at 20k's fine by me.
1. If you're a speculator, you have your targets. And you have your loss estimates. So you don't decide on the spot, you let the market decide for you.
2. If you're a holder, you also have targets - price or duration. Anything else in between that is irrelevant.
Greed, even if we view it as good, should still mean you can take profits at your targets. I'm greedy for the long game, so missing out at 20k's fine by me.
January 01, 2019, 08:34:52 PM
Really, in all honesty it is hard to make a decision when your coins are in greens because greed is a part of the human race. Like I will always say, learn to take position in lows and learn to take profit when in greens.
You make it sound so easy when it's anything but.
When price went from long time trend of $400s back in 2016, jumped to $600s in a month what to do - sell because you don't want to be greedy or hold? what about when it hit $1k, then what? what about when it hit $2500 area for a couple weeks - sell for sure so not to be greedy, right? WRONG. It went almost 10x from there.
Nothing is easy about this market so everybody stop saying shit like it is simply overcoming the nature of greed and fear. It just not that simple, and people hold not out of greed - but out of fear that it will go higher and leave them behind. So much bullshit needs to be called out on this subforum because there is a thousand more times bullshit vs good advice.
January 01, 2019, 06:55:02 PM
Really, in all honesty it is hard to make a decision when your coins are in greens because greed is a part of the human race. Like I will always say, learn to take position in lows and learn to take profit when in greens.
January 01, 2019, 06:51:05 PM
if you are a trader you have to get rid of greed, need the right consideration to sell and buy. don't sell too fast and don't hold on for too long, many people are disappointed because they sell too fast and hold too long.
January 01, 2019, 06:10:39 PM
Greed is what brought most people to crypto in the first place! Can't say it's the technology when most people have no idea what the blockchain is about, they think bitcoin is the blockchain. Good thing they have coinbase to help them invest
Absolutely correct! They only say " technology" because it gives a lot of profit over the short period of time, unlike any other investments that could give you profit for years. Behind the peoples technology patronage is a greedy mind that are forever discontented and thats a human nature.
Get off your high horses, nobody here including you guys would gaf about this if they knew bitcoin was going to zero from here, and especially if bitcoin never became worth more than a few cents.
January 01, 2019, 06:03:49 PM
Greed is what brought most people to crypto in the first place! Can't say it's the technology when most people have no idea what the blockchain is about, they think bitcoin is the blockchain. Good thing they have coinbase to help them invest
Absolutely correct! They only say " technology" because it gives a lot of profit over the short period of time, unlike any other investments that could give you profit for years. Behind the peoples technology patronage is a greedy mind that are forever discontented and thats a human nature.
January 01, 2019, 05:18:43 PM
Greed is what brought most people to crypto in the first place! Can't say it's the technology when most people have no idea what the blockchain is about, they think bitcoin is the blockchain. Good thing they have coinbase to help them invest
January 01, 2019, 12:31:56 PM
That is true, because of the greedy nature of someone who wants higher profits without thinking of crypto conditions that are not stable, but on the other hand people get big profits when they use the opportunity to sell them.
January 01, 2019, 06:24:50 AM
I think people need to experience missing their opportunity once. When the chance comes around the second time they'd hopefully not make the same mistake as it might have taken several years to work its way back up.
I had a set proportion I was going to sell once it reached a set price. It didn't quite get there. It should get back there some day. When it is I'll be selling no matter what the future is looking like.
I had a set proportion I was going to sell once it reached a set price. It didn't quite get there. It should get back there some day. When it is I'll be selling no matter what the future is looking like.
Great post!
In a similar situation myself. Started buying at around $600 as we were on the way down from Mt Gox high. Not going to go into figures but I lost ‘A LOT’ of unbanked profits on the way from $500 - $600 to $19,xxx by not selling.
I didn’t sell any of my bitcoin’s, I have the same amount now as I HODLED at the ATH but you can appreciate how much of a shock it was falling from $19,xxx to $3,xxx
I’m sure as hell selling nothing in this price range but after the next halving, maybe mid 2021 we’ll probably go on another epic bull run.
I won’t miss out on life changing profits next time
I have the same plan, maybe sell in 2020 if we go above $10,000 again. My personal experience is a little different. Bought at $3500 and of course did not sell at $19,000. I eventually sold at $6500 but bought back (less amount, needed the cash) at $7000, so a silly move in the end, but hopefully will learn from this rookie mistake.
December 31, 2018, 04:55:25 PM
Great post!
In a similar situation myself. Started buying at around $600 as we were on the way down from Mt Gox high. Not going to go into figures but I lost ‘A LOT’ of unbanked profits on the way from $500 - $600 to $19,xxx by not selling.
I didn’t sell any of my bitcoin’s, I have the same amount now as I HODLED at the ATH but you can appreciate how much of a shock it was falling from $19,xxx to $3,xxx
I’m sure as hell selling nothing in this price range but after the next halving, maybe mid 2021 we’ll probably go on another epic bull run.
I won’t miss out on life changing profits next time
In a similar situation myself. Started buying at around $600 as we were on the way down from Mt Gox high. Not going to go into figures but I lost ‘A LOT’ of unbanked profits on the way from $500 - $600 to $19,xxx by not selling.
I didn’t sell any of my bitcoin’s, I have the same amount now as I HODLED at the ATH but you can appreciate how much of a shock it was falling from $19,xxx to $3,xxx
I’m sure as hell selling nothing in this price range but after the next halving, maybe mid 2021 we’ll probably go on another epic bull run.
I won’t miss out on life changing profits next time
I can't say I was shocked by the fall. As soon as a pal of mine called me out of nowhere asking for permission to buy XRP at $3 I knew the writing was on the wall. I'm shocked by how similar it's been to last time so far. Originally I wasn't going to budge a penny until 2020 but I didn't expect the magnitude of 2017 and I hadn't really planned for it.
It's very, very easy to have a super high figure lodge in your mind and forget how little time it actually spent there. Hardly anyone would've achieved those peak sells. Exchanges were also so seized up at the peak that you might have had repeated failures attempting to get rid.
My ideal scenario is that my preplanned figures are reached on a very sluggish rise long before it goes nuts again.
Interesting, thanks for sharing!
December 31, 2018, 04:41:39 PM
Great post!
In a similar situation myself. Started buying at around $600 as we were on the way down from Mt Gox high. Not going to go into figures but I lost ‘A LOT’ of unbanked profits on the way from $500 - $600 to $19,xxx by not selling.
I didn’t sell any of my bitcoin’s, I have the same amount now as I HODLED at the ATH but you can appreciate how much of a shock it was falling from $19,xxx to $3,xxx
I’m sure as hell selling nothing in this price range but after the next halving, maybe mid 2021 we’ll probably go on another epic bull run.
I won’t miss out on life changing profits next time
In a similar situation myself. Started buying at around $600 as we were on the way down from Mt Gox high. Not going to go into figures but I lost ‘A LOT’ of unbanked profits on the way from $500 - $600 to $19,xxx by not selling.
I didn’t sell any of my bitcoin’s, I have the same amount now as I HODLED at the ATH but you can appreciate how much of a shock it was falling from $19,xxx to $3,xxx
I’m sure as hell selling nothing in this price range but after the next halving, maybe mid 2021 we’ll probably go on another epic bull run.
I won’t miss out on life changing profits next time
I can't say I was shocked by the fall. As soon as a pal of mine called me out of nowhere asking for permission to buy XRP at $3 I knew the writing was on the wall. I'm shocked by how similar it's been to last time so far. Originally I wasn't going to budge a penny until 2020 but I didn't expect the magnitude of 2017 and I hadn't really planned for it.
It's very, very easy to have a super high figure lodge in your mind and forget how little time it actually spent there. Hardly anyone would've achieved those peak sells. Exchanges were also so seized up at the peak that you might have had repeated failures attempting to get rid.
My ideal scenario is that my preplanned figures are reached on a very sluggish rise long before it goes nuts again.
December 31, 2018, 04:41:29 PM
I honesly don't gaf about missing fiat profits, what kills me is I could have 5x the bitcoins by selling then and buying back now. That's a real ass burner.
December 31, 2018, 04:27:35 PM
You're so right. The greed comes in play when you can't control emotions lol. Many people got many of the coins at very low prices and wanted to wait for like forever, before they will sell but plans backfired.
Anyways that'll drive up the next cycle buddy. And the new investors may experience the same and this cycle shall not end lol.
Anyways that'll drive up the next cycle buddy. And the new investors may experience the same and this cycle shall not end lol.
December 31, 2018, 04:14:32 PM
I think people need to experience missing their opportunity once. When the chance comes around the second time they'd hopefully not make the same mistake as it might have taken several years to work its way back up.
I had a set proportion I was going to sell once it reached a set price. It didn't quite get there. It should get back there some day. When it is I'll be selling no matter what the future is looking like.
I had a set proportion I was going to sell once it reached a set price. It didn't quite get there. It should get back there some day. When it is I'll be selling no matter what the future is looking like.
Great post!
In a similar situation myself. Started buying at around $600 as we were on the way down from Mt Gox high. Not going to go into figures but I lost ‘A LOT’ of unbanked profits on the way from $500 - $600 to $19,xxx by not selling.
I didn’t sell any of my bitcoin’s, I have the same amount now as I HODLED at the ATH but you can appreciate how much of a shock it was falling from $19,xxx to $3,xxx
I’m sure as hell selling nothing in this price range but after the next halving, maybe mid 2021 we’ll probably go on another epic bull run.
I won’t miss out on life changing profits next time
December 31, 2018, 03:50:39 PM
What's really incredible is to sit and watch your paper profits evaporate. That's a little mind blowing tbh, but like many here I'm playing on the house - if I actually had significant amt of real money on the line I'd probably have put a gun to my head by now.
December 31, 2018, 03:41:40 PM
What OGs do is sell a fraction of their coins to get their initial investment back, plus some profits. From there it's a piece of cake to hodl through massive increases or decreases without breaking a sweat.
Getting your initial investment back is one of the most important aspects of investing in general. Once you did that exactly that, you feel comfortable because you don't risk a single penny anymore.
Most of the OGs have been cashing out smaller fractions as the price kept going up, and that for years straight, which explains why most of them continue to smile even during the worst possible crashes.
Getting your initial investment back is one of the most important aspects of investing in general. Once you did that exactly that, you feel comfortable because you don't risk a single penny anymore.
Most of the OGs have been cashing out smaller fractions as the price kept going up, and that for years straight, which explains why most of them continue to smile even during the worst possible crashes.
December 31, 2018, 03:22:29 PM
I think people need to experience missing their opportunity once. When the chance comes around the second time they'd hopefully not make the same mistake as it might have taken several years to work its way back up.
I had a set proportion I was going to sell once it reached a set price. It didn't quite get there. It should get back there some day. When it is I'll be selling no matter what the future is looking like.
I had a set proportion I was going to sell once it reached a set price. It didn't quite get there. It should get back there some day. When it is I'll be selling no matter what the future is looking like.
December 31, 2018, 10:00:31 AM
That's why all of the best investors are ones who are able to remove emotions from their decision making processes. If you have something precious and you continue to hold on to it tighter and tighter eventually you'll have nothing.
December 31, 2018, 07:44:36 AM
This is the nature of cryptocurrencies market! It's a speculations market therefore greed and patience are the two force that determine either we make profits or not. Investors are for profits and no one wanted to carry last in trading. We are all greed about make profits!
Remember that some people buy bitcoin at $19000 and many are still holding uptill now. That is the beauty of this market. Those one can only lose if they sell at the current price and they will also make profits if it's been hold for a very long time and maybe price goes up as speculated.
Remember that some people buy bitcoin at $19000 and many are still holding uptill now. That is the beauty of this market. Those one can only lose if they sell at the current price and they will also make profits if it's been hold for a very long time and maybe price goes up as speculated.
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