RE: First Bull Run, First Mistake
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that's us shaking hands, I know the feeling of not clicking with stable coins all too well.
First, the huge crash made me feel shit that I didn't take profits (just a small chunk to pay off a bit of debt first installment of my personal payback plan), second because of not being able to ride those waves while the crash lasted but there was huge opportunity to buy in.
Once a bit recovered, I decided to take profits quicker, not wait for the huge pumps every time, but make smaller trades in case I didn't want to part with a coin, to farm the amount of coins this way it was also going to end up being worth more. This was, after I had seen my complete remaining amount of debt vanish in crypto. It was a very expensive lesson! I could have cashed out part of the coins to pay it off completely, but I didn't want to part with those coins yet, so I didn't.
Now I'm at the point where I honestly don't care to part with all of them (besides the stakes) but trying to cash them in steps where it makes sense (read: no loss anymore and preferably a bit of nice profit). I will buy back in later after this has been paid off.
I did have a bag of tether waiting for the last dip, but I couldn't convince myself that it was the lowest low and decided not to touch them. I didn't want to see it vanish again and actually made peace with the lower (but more stable) portfolio value. Just days ago I started buying back some things and keeping a close eye on them before I cash them out at my target so that I made a bit more profit by waiting :)
I really really need to learn charting, it's on the to do list :) haha
Wow, that sounds like it was a really rough patch. I am glad that you have mostly come to terms with it. I just need to remember to keep them on my radar. This pull back would have been much easier to manage if I had just moved even a little at a time. When I think of DCA I always think of it in terms of fiat, but it could be selling into stables too.
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Lol, trust me when I tell you I've been sick to my stomach knowing I only paid of a part, while I now saw the rest vanish. Let's say I paid for the experience :)
Whenever I think about DCA, I think about HOT and TEL, two coins I've been buying since they were so cheap, it was even worth just buying for a few bucks back then. I've been buying HOT for quite some time, before it started to pump really hard, I already took profits, after that it's been going down and still needs to recover some more for me to have profits, BUT I have been buying them in smaller chunks from earnings here and I know that when it goes back up, I have a huge bag ready.. Not selling those.
Tel, also DCA story, but still in profits lol.
Until this whole crash I never (EVER!) kept USDT or any other stable coin, I may have sold something for them, but instantly put it into something else again. But now we know: they matter :) I see them now haha..
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Yeah, shining a whole new light on them for sure now! Before I was always like "why would I want a token that is pegged to a dollar and can never go up?". Now I see it. Not being able to go up also means it doesn't go down!
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exactly :) haha I just didn't understand that either, I thought by just being on top of the markets, I'd never see a coin dive down this fast as with the last crash, I was wrong haha