Haha, I have just got to laugh thinking about it. It was during the summer of 2020, and I had a tiny portion of BTC dust. I had stored it since 2017 and I was really sure that I was going to sell it whenever 1 BTC was getting around 10,000 Euro! Once again, we are not speaking of 1 BTC (I wish I had one, but I don't). But, I had a sell order that was to go through when BTC reached 10,400 Euro. And I remember that morning, during my summer holiday, that Bitcoin reached that level, and I bragged a bit to my family about me selling!
But, then later - as Bitcoin dropped again, I went to the exchange to actually see if my trade went through. That is when I noticed that I had set the sell order at 10,800 Euro and not 10,400. My sell order didn't go through. I felt quite stupid, and somehow, because of this... I totally deleted my sell order!
Guess who is happy about that today?
There is no lesson to be learnt from this. It might be a lesson that sometimes good things might come out of unfortunate events, but I guess I have had some occasions on which my sell order didn't go through, and after that - everything dumped. As a result, this was just pure luck this time (or God's blessing), and I hope I will be lucky in the same way in the future as well.
But, I have got to admit that it is very hard to know exactly when to sell and buy, so I guess that is why we all need to stick to our plans as much as possible.
So, what is the plan? I guess it is to become rich. How is that done? I'd say hard work and sticking to your principles. Richness might not come in a night, nor in a year, but if you work hard and stick to your principles and your plan, I believe you have a great chance!
My personal way of dealing with cryptos
I have already discussed this a bit, that in Europe, most people do crypto for fun and as a hobby, while many of our friends here in Project Hope constantly convert crypto to FIAT, because it is needed for their daily living. That is a different situation, and in a way, they probably do it wiser than us here in Europe.
But for me, I try to treat crypto as a hobby. As a result, I have to work super hard to earn as much as I need in other ways and that is my main source of income and in which I trust. But, if my crypto portfolio should boom, then I sell and it comes as a nice plus. But, it isn't something I trust to bring food to the table and so on! :)
This is an original article written by me for Project Hope!
Hello @unbiasedwriter
In several opportunities the same thing has happened to me as to you with that sale order, with the difference that I have realized the following days, because I am very manic and I usually check my purchase and sale orders very frequently, probably this habit coincides with your position, that for us the movements of purchase/sale are key to capitalize resources. Kind regards, we continue reading each other.
hmmm... lots of douths now my friend.
First are you hearing this that whenever, this Bitcoin flares, the servers of Binance and coinbase go out, can't take the load and traffic!!
So, I have no idea even if I get super rich with crypto to moonie moon, then how will I sell it on time if these centralised exchanges go poof!! Argggh!!
But I like to tell this to you that you should not think of selling your BTC, its a wealth preservation asset like gold, not something to make profit on I guess, I can't sell my BTC, not now...
But you actually have 1BTC with you??? seriously...dash it.
You know i have written legendary tale on BTC minted in gold coin, that coin is super dooper valuable I guess...mind blowing.
But I guess... You got the change to make some wealth my freiend, its a bull run, stay alert, learn and all the best, and please wish all the best to me too!!
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