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Im not a good trader but if I’ve learned anything, it’s patience
Don’t get me wrong, cut your losses when you need to. But in moments like these, where I saw my portfolio at 71k a few months ago, was at 63k last week, and now it’s at 56k, in those moments I start to get doubt. I’ve made okay money investing and trading but in that moment all I think is “fuck, maybe I’ve been kidding myself this whole time and I’m a loser who’s losing all their money” But realistically, I know what’s happening. I’ve held my bitcoin through the COVID recession back when I was only 19 or 20 years old and it pained me to watch myself possibly fail and lose half my money my bitcoin but I just held it out and waited until it recovered and now it’s thriving. Everything is down now. Bitcoin crashed like crazy. My xrp and doge coin are down. I bought a few penny stocks a month ago which I’ve honestly just accepted the high likelihood they can fail. I bought 100 shares of nvidia last week and am experimenting with doing the wheel and I’m down 1500. That part of my brain that wanted to panic and sell went off. But then my logical side was like “a smart person wouldn’t panic sell and you being patient in a very obvious temporary market crash, is why you’ve been any money from this” Not saying to just hold on to false hope. But even when I cut my losses and sell, it’s usually not in a panic moment. It’s usually thought out even a little then executed knowing I am not comfortable keeping this money in this coin/stock or that it isn’t worth keeping in there. I just think one of my best things I’ve picked up on, is to not freak out when things crash. I made that mistake with bitcoin when it crashed to 50k and I sold trying to buy at a lower price. Next day it started recovering. It’s not like im blowing half my money on buying options or penny stocks. I don’t know what I’m fully doing, but I know enough to make it this far being even a little profitable. Now, I just look at the notifications that x stock/coin is down 10% and I’m like “yeah okay keep it coming I’ve seen this movie before” lol Another thing, is that assuming I am not doing extremely risky trades (half your money in options, penny stocks, throwing all your money into 1 stock) I try to not let regret get to me. “If I sold earlier I’d be more profitable” or “I should’ve sold last week now I’m not profitable at all” or “I don’t know why I sold, it literally started recovering” nope. I just look at it as a lesson.5
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