Topic: Sold too damn early!! Kicking myself... - page 4. (Read 853 times)

At first glance I thought it was a poem or a song.

Yes, yes we just remember the negative parts and even the really bad ones.
When we profit we forget about it.
Looks like we are going to see more of that. The market is getting crazier. Bitcoin suddenly pumping again and alts are still being hammered down.
My solution. Smile.

You never know what's the peak from any coin price, it certainly will not be perfect (if we can know what's bitcoin price in the future/what's the peak of bitcoin, we all already become the holders).

I, myself have sold bitcoin at $450 in 2016 and $3000 in 2017, its very far compared bitcoin price right now (i should get around 25x more if i didn't sold it yet)

This line proves out that you aren't that kind of patient person 

Sold too damn early? If you are on profits it doesn't matter if you do sell of on loss then that's the biggest mistake you have done due to your boredom.
Keep repeating these mistakes are normal because of this unpredictable behavior of this market but it doesn't matter,just move on and just think off that you do made profits
even its early.

It happens to the best of us. I sold at 6000 before the price shot up and had to buy back on the way up. We all make mistakes but it's impossible not to make them. This market is way too unstable and even stable markets aren't easy to trade. Making money is never easy.


This is a good way to compensate for our mistakes but the mistakes will still be there only with less consequences.

life is a trader. trade well and enjoy the benefits. we learn everyday form our mistakes. we can;t stop learning because this is part of life the more we learn the better we understand how the trader happens. Also helps to curtain FOMO AND FAUD. Keep it up.

This is why traders almost always do poorly in comparison with hodlers. Even the pros who should know better still get caught in these emotional traps from time to time. If it was easy everyone would be rich.

This is very common issue every trader faces, I also see it as market trap. Someday we cry to leave many bucks on the table after closing the trade and the other day when we wait for the price to climb, it comes back after some gaining some points and we either close the position on BE or in loss. I think that is the biggest pain we face. We need to learn to get a bucket of water out of the river not the whole river. It is better if you make a plan before initiating a trade and remain stick to it. If you close your position in profit, ,be satisfied that alteast you are in profit no matter where the price goes thereafter and incase of negative trade SL is always your savior.

Never look back once it happened because we can't change that moment,just learn what mistake you did on that occasion.If you are not in loss of tha decision then you no need to worry about,aim for the profits don't be too greedy.

That is what happens to every people who involve in cryptocurrency, especially for people who trade bitcoin pair fiat. They don't know what will happen in the future, so every time the price can increase high, people will sell some bitcoin so they can get more money. They will buy again once the price is down and back to waiting for the price to increase higher. They repeat the process, and some of them can make a big profit from trading, but the others cannot do the same as them.

Such feelings of regret usually come when price shoots up after you dump but you also get happy when after you dump and after 10 hours, you see the actual crashing like a pack of card...

I usually deal with whatever comes.

I think you need one more step.
4. DECISION TO IMPLEMENT THE RIGHT PLAN
This is the most difficult step in 4 steps, because I have made such great plans, but I often fail to do so because of the impact of FUD or FOMO.
keep your mind calm and steady.

It happen to all of us time to time and we are having many story like this anytime the market is pumping. Someone buy Bitcoin at $8765 and when it get down below $4000 out of panic he sold it and a week after bitcoin jump to above $5000 by the end of the month it was trading around $10,850. As far as you sell above your purchase price you have not lose anything and since you have gotten this experience? Apply it and always considered before you sell.

What the hell is that reason for selling in the first place? LOL.

Anyway, if you're just trading and not holding, while selling at higher prices is definitely better, I don't think there's anything wrong with selling early. If you sold early and the price rose higher, hey, you just played it safe and secured profits. There's really nothing wrong with that.

Hindsight is 20-20. There's no way for you to know for sure that the price was going to go up and not the other way around. Stop kicking yourself for it.

I guess everyone goes to this 'growing pains' of selling too early. Anyways, don't be greedy and let this be a lesson to you. Don't sell out of emotions (boredom), as much as you need to have a good entry point, you also need to put up a exit strategy as well so that you won't regret even if you sold early.

So don't be too hard on your self, at least you can a valuable experience here. As I have said, in the beginning of my trading journey, made a lot of mistakes but I just keep on going. So good luck to you and for those noob traders, if ever you made the same mistakes, you don't need to go and bitch around. You just need to stay focus because this is a game.

When you sell it early it means you don't understand how the market moves. Same with me in the past, I also do what you do when you feel bored with the price that continues to go down I sell it and after a few days / hour the price jumps up.

At that time I tried to find out why prices can jump when I sell, when is the time I sell? and I tried to study market movements with charts. Well it turns out that everything can be analyzed both chartically and fundamentally, at least now I'm not as stupid as before. And I don't think need to write a journal because this is not a college assignment.

In such cases, I always have a plan. The plan should answer the questions: when to sell, when to keep. If you cannot answer these questions, then most likely you will sell cheaply. Or you will have lost profits. But it’s best to sell in parts. 30% - sell if there is good growth. 30% where you see the peak. And 30% where the market loses perspective.

What happens, happens as they said it.

It is really better to write a journal about your trading since you will be able to track what you are doing and at the same time know what you are doing wrong. I did this for a short while but I can't keep up because of my work and the changes is really fast. Nice plan though, I will be taking note of that

This is usually the way with me also. It has happened to me so many times. The alt would just be sitting there with little price movement or going downhill day by day, until my patience runs out and I sell it. Then a few hours or a few days after I sell, the price skyrockets. It's almost as if there's an evil spirit nearby urging me to sell ahead of the price explosion.

I decided to sell today out of boredom...
The second I did, the price shot up like a rocket ship! 🚀
I KNEW this shit was rigged.
 
Now I'm sitting on the sidelines... kicking myself.
 
It's not the first time this has happened.
Or the second... or the third...
It feels like this happens all the time.
 
Now - I know that the markets are not actually rigged.
I know that my brain is being overly dramatic.
Brains tend to remember things that trigger strong emotions.
…like the pain of watching the price climb after I sold.
 
When I sell and price jumps up...
I get frustrated and emotional.
 
I tell myself that's part of trading.
...but it doesn't matter
I can't remember all the times where selling was the perfect timing.
That's just not how the brain works.
 
There's only ONE way to be sure we're being honest with ourselves…
To really know if our brain is playing tricks...
Keeping a trading journal.
 
Looking back at my journal, I can see that I sell early ~30% of the time.
I'll never be perfect...
But 30% is too damn high!
 
Here's my plan to do better:
 
1. Continue journaling every trade.
It's kind of a pain in the ass, but SO valuable.
I journal my entries and my planned profit/stop loss.
 
2. Take it one step further.
I write down why I bought in the first place.
What did I see that looked so juicy?
 
3. If I want to sell early...
I have to be sure I can write down what changed.
What new information did I see that made a difference?
If I can’t, then I stick to my original plan.
 
Tweaking my strategy and holding myself accountable is how I continue to raise the bar.
If you don’t have a trade journal, why the hell not?