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3 years ago in LeoFinance by rok-sivante (77)
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BTC is a trojan and a ponzi but it's still my third biggest holding at this point...not planning to hold it longterm though...its a dog
It can be tempting to take gains prematurely.
They can only be premature, in retrospect.
Looking backwards and beating yourself up for something you can't change, is a fools errand.
Prices go up or down (or stay the same). Picking a winning streak of 10 times is well within the parameters of total chance.
(giving the illusion of 'skill')...it's not until you get to the 18/21 consecutive wins that this paradigm starts to have other possible reasons.
Confirmation bias is the biggest obstacle to overcome.
....If envy is an emotion in your psychological makeup - then you have FAR bigger personal issues to contend with, than just making a few dollars!
(I'd even posit that spending your time on making $ - instead of addressing deep psychological issues- is an avoidance strategy).
....My bill is in the post! lol
Half-correct.
The other half would be looking from the angle of setting long-term price targets, and taking before then. For example, figuring ETH is gonna hit $10k, but selling too much now.
First rodeo, you may not know exactly where prices are going - thus sell 'too soon,' and yes, in hindsight, see that the gains were taken prematurely. Though after more experience and knowledge gained, seeing the bigger picture of market cycles and where you're at in them - then "premature" has a fitting context.
i.e. "premature" would be selling too much in the "hope" or "optimism" stages as noted below, whereas the price targets of the experienced investor are at the "thrill" or "euphoria" stage - and/or waiting for those of future bull cycles:
Sometimes. Sometimes not.
If a person is coming into the markets blindly and doesn't understand where the market as a whole is in its cycles or have a really firm grasp on the fundamentals of the projects they're investing in, then it's pretty much gambling, and you'd be correct.
Though the more diligently once invests the time & energy in reading the cycles of the market and the positioning of the projects they're investing money into, the game changes from that of chance to strategy. The more details one is able to process, the clearer the picture they can see of which projects are set to grow and which are more likely to fall short of their hopes & plans.
True that. lol.
I merely used the term for dramatic effect. 🤷♂️😹
If a person is coming into the markets blindly and doesn't understand where the market as a whole
All financial markets are rigged. ALL.(I'd say crypto more than any, but that's only a subjective observation).)
Ergo, you can only 'understand the market', if you have insider knowledge.
Ergo, if you DO NOT have insider information - 'understanding the market', is an illusion.
is in its cycles or have a really firm grasp on the fundamentals of the projects they're investing in, then it's pretty much gambling, and you'd be correct.
All investing is gambling - by definition (without the just mentioned insider knowledge).
What if you understand the rigging...
Not saying I do but that's the aim
Good luck !
in simple terms - manipulate up and manipulate down - the tricky bit is the timing...
👆...
("Projection.")
lol - math doesn't project...
You still don't believe in our special powers do you...lentil eater
You've obviously never tried 'lentil divining'...What an experience !
I've made the exact same point about Bitcoin for a few years now.
The bigger a market cap gets, the more it takes to double the value (obviously).
If one can find the low cap coins that could eventually succeed, the chances to 10x, 20x, or more are definitely possible, but the days of seeing 10x returns on Bitcoin over any span of time are all but over unless it massively crashes...
This is an awesome example of the power of altcoins, and I'll be including this post in my latest edition of 'Rogue Curator' 🚀