Reflecting on Crypto Gains and Losses: A Personal Journey

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Quote from: aima55 on June 26, 2024, 01:45:19 PM

Hey everyone,

I've been in the crypto space for about four years now, and I wanted to share some thoughts on my experience, particularly regarding profits and losses. Like many of us, my journey has been a mix of ups and downs.

Looking back, I've realized that my overall losses have outweighed my profits. It's a tough pill to swallow, but I think it's important to be honest about these things. The volatile nature of crypto markets can be unforgiving, especially for those of us still learning the ropes.

Despite the setbacks, I'm still here, still learning, and still believing in the potential of blockchain technology and cryptocurrencies. I've been focusing on improving my trading strategies and risk management.

The same is for me. Whenever I have a good profit, I go into risking them and lose it all at the end. Specially when its time for the bull.
Not talking about past, I for the last one year of sideways market, doubled the money I put in with grid and swing trades. Almost all of my predictions were right and I was confident about my trading skill. After the news about Ethereum ETF broke out, I was sure there's going to be a price hike on crypto and sold all of my coins to get 5 different pairs of leverage trading. I was not risking it at all. The liquidation price were 20% lower than the price I bought them at. Yet all of those coins did managed to hit the liquidation price on the subsequent price fall and bounce back from that point. i.e. the prices stayed below the liquidation level just for a few minutes. Whether it's my bad luck or what but I don't seem to earn from crypto.

Wexnident

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Quote from: aima55 on June 26, 2024, 01:45:19 PM

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That's pretty normal ngl. Pretty sure my losses back then are pretty close to almost evening out the profit I made through this year of DCA'ing. I'm personally glad that it my losses were pretty low and that I stopped early on after realizing I suck at trading. And like you, despite knowing that, I still went ahead and found other methods to invest, like DCA! And just recently I've been going back to shorting some stuff, more of gambling really and less trading but hey, I'm still using my brain to think (or assume) how things would go.

JoyMarsha

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It's really a tough pill to swallow as so many crypto investors have to watch their altcoin investment dip in losses at bitcoin price get corrected.

The feeling is very terrifying when you know that nothing is to be done to get market control or dance in your favor to make you recover your losses at once. However, this is the time for someone's patience to be tested and how weak their hands can be in not selling their bitcoin or altcoin holdings at a loss price

tygeade

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Quote from: Cryptodaring on July 01, 2024, 02:47:17 PM

Well, I've been there too, mate. I've also experienced a ton of losses, but I'll keep going, intact. Just yesterday, one of my favorite crypto influencers was talking about how tough the journey can be at the beginning, but consistency, learning, and building every day, as you said, can lead to that big win. It only takes one significant win. This inspired me to explore more, like the event I saw on Bitget called 'Double Your Losses, Cover Your Losses,' which is for traders. Traders can win a pool price of 50,000 just by trading. I feel you can also check out events like this to help you bounce back.

All of us experienced this but maybe some have already given up, while some are still going and maybe have already improved their performances. Congrats to them. This is the ones that we must do, to continue because thinking too much about the bad things won't help us. I wonder what is the name of that influencer where you hear their story/advice. If it's okay, maybe you can share their name here because it's now rare to see an influencer like that and we can learn a lot of good things from them that can also help us on our journey here in the crypto world.

A significant win can compensate to all of our losses, efforts, and hardwork but we must not only look forward in it, so that we won't be contented and maybe settle down after it.

X-ray

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It's good that you keep track of your trading. Finding out that your losses outweigh the gain is actually the starting point to turn things around.

I personally also keep track of my trading and actually find out that the biggest gain i've made actually around the transition of the market trend from bearish to bullish where all the coins actually made more than 100% gain and it does make up huge percentage of my profit.
at this current trend of price swing however, its just bunch of gain and setbacks, I think it's kinda normal to be affected heavily by the current market sentiment where even the veteran trader doesn't have idea whether we're gonna be heading to $100k or we gonna dump all the way to bearish market all over again.
the news about mt.gox crediting billions of dollar worth bitcoin is such a concern for many traders that the market lately has been quite swayed. It also making me think that whether i should just settle with current profit or not. however in my opinion, the thing that could heavily helps me in staying profitable is being conscious of the current narrative, just following where the trend going.

Cryptodaring

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Well, I've been there too, mate. I've also experienced a ton of losses, but I'll keep going, intact. Just yesterday, one of my favorite crypto influencers was talking about how tough the journey can be at the beginning, but consistency, learning, and building every day, as you said, can lead to that big win. It only takes one significant win. This inspired me to explore more, like the event I saw on Bitget called 'Double Your Losses, Cover Your Losses,' which is for traders. Traders can win a pool price of 50,000 just by trading. I feel you can also check out events like this to help you bounce back.

aima55

jr. member

Activity: 34

Merit: 0

Hey everyone,

I've been in the crypto space for about four years now, and I wanted to share some thoughts on my experience, particularly regarding profits and losses. Like many of us, my journey has been a mix of ups and downs.

Looking back, I've realized that my overall losses have outweighed my profits. It's a tough pill to swallow, but I think it's important to be honest about these things. The volatile nature of crypto markets can be unforgiving, especially for those of us still learning the ropes.

Despite the setbacks, I'm still here, still learning, and still believing in the potential of blockchain technology and cryptocurrencies. I've been focusing on improving my trading strategies and risk management.

Topic: Reflecting on Crypto Gains and Losses: A Personal Journey (Read 65 times)