(1) in a few days, weeks or even months time you might think “i should have really sold the pump” as we drop below $40k and altcoins suffer once again. war, inflation and supply shortage never allowed for a proper bullrun. how could you have been so stupid and not sell pumps, but instead buy on the way up just to see much better prices on your way down?
(2) in a few days, weeks or even months time you might think “i should have really bought along the way” as we go above $50k, perhaps reach a new ATH and altcoins go wild. prices were sensational just a few months ago, and you could have easily invested more at some point. how could you have been so stupid and not buy more, or maybe sell too early because you didn’t think a bullrun was possible?
both scenarios are possible. the important thing is that however logic and forseeable things will look with hindsight, they don’t right now. **you’re taking chances whatever you do**.
for me, the key lies in conciously acknowledging beforehand that you can not tell what will happen, and making a rational choice that you’re sticking to regardless of euphoria or anxiety. this doesn’t mean that you can’t change plans, and you may well be guided by emotions, but always explain to yourself, why you’re doing what you’re doing.
TLDR: make a proper plan, acknowledge you can’t know what’s going to happen, and remind yourself afterwards that you did what you thought was the most rational at the time.
37 thoughts on “As greed goes up again, it’s time for some provision for your sanity’s sake.”
It annoys me when people say “take profits”.
Bitch I’ll take profits when I’m in profit.
It’ll be another 9 days like today before I get back to where I started.
I call this the ‘pair of queens’ theory. You have a pair of queens in Texas Hold’em, you go in. You get another queen on the flop. You go harder. Nothing on the turn for anyone. You bet some more. King on the river. You have trip queens. You bet more. Then your opponent flips out a pair of kings, for a trip King hand. You lose it all.
You didn’t make the ‘wrong’ decisions. You made the right decisions the whole way. The fact that you lost your money doesn’t make your choices wrong. If the exact same scenario arose again (maybe against a different gambler though), you would be best to make zero changes to your approach.
I dislike buying coin when there’s been a weeks long strong bull run. I suspect it’ll cap out eventually and give us a bear run for a few days before going bull again. I like buying dips. Of course, *when* that will happen is anyone’s guess. On the other hand, I also know coins right now are still a ways from their November ATH, so I’m very conflicted. Thankfully, I only have a small percentage of remaining BUSD to spend, and the vast majority of my fiat went into coin during the long March slump.
But if ya’all could maybe give me a bear run for a few days, that would be great.
Been in crypto over 2 years now and I am down by a fair bit. But what you say is resonating with me. I have stoped checking charts daily and no longer binge watch Bitcoin YouTube hype. I feel much better about my holdings and hope one day it will be in the green, I’m just thankful i live in a stable country, my family is well fed and warm at night.
Just keep your head cool and remember that you are in this for the long run. Deep breaths everyone this will be one turbulent year in the investing world
DCA out of anything you know is high
You think i’m taking out? I’m never taking out i’m holding forever.
You want me to take profits when things are going up so much? After months of suffering, after months of the markets dropping?
You’d be crazy to think that OP, crazy, all that greed fearful stuff is overblown
Well said. Dangerous times be cautious.
Prices booming? Time to buy!
Telling people to take profits when they are still down 30%? lol
What is my plan? I already have everything in my life. I have somewhere to live in (need to pay for mortage, but still), I have fridge with food suplies (caviar not included), I have descent car with reasonable fuel consumption, I have somewhere to work (I mean mine fiat), I have some money on my gym hobby, few bucks are spent for weed (not drinking alcohol), rest of the money is not enough to buy a Lambo in lifetime, but is probably enough to buy some sats, which will potentionally buy me that Lambo once in the future, but once will have that amount of money I wldnt probably buy it. I will probably keep it for kids, to save them from beeing cripled by filthy government…
**This time take profits guys!**
Don’t be greedy.
Thanks, I needed to hear that!
Thanks bro, but I am cool. After several bulls and bears, my FOMO is dead. I just keep Mr. Compoud do what it has to do.
I’m an ICP maximalist, so my positions are staked in the NNS with a dissolve delay to prevent me from paperhanding my position.
Either it goes to zero, or it goes to the moon. I’m bullish on the latter.
Instructions unclear: Aped all my money into bitcoin
TLDR: Calm down everyone
Get a grip. Prices are still very low compared to the ATH. Is this your first cycle? Been in crypto since 2017 myself.
There’s been a few days of mild green. You haven’t even seen the beginning of greed yet!
This is loading up time, not posting scared messages forecasting the end of crypto.
I have all of my SHIB and CRO staked . up or down doesn’t matter to me, I live off of interest and contract. But yes , exercise caution in todays climate .
You take profits, you pay the tax man.
Don’t they show that time in the market > timing the market ?
I’ll wait a few years
So for my sanity’s sake you’re forcing me into a split personality.
Well, one of us should be succesful right, right?
DCA in DCA out, seems like a solid strategy
Put this in the scripture
Expand all yhalls time horizons – dont sell till 2033
I sell when Bitcoin is +$100k
This is only the beginning. Sell if you want, but only those that hodl will truly become rich.
Can’t ,still in a loss at the moment
selling = tax
just dca, borrow against
Greed = hold
Grief = buy
THIS IS NOT THE TIME TO BUY!
There will be more opportunities to buy healthily soon enough.
A majority of my holdings are btc and those were acquired below 10K. Over the years, I’ve learned my lesson. Everytime I’ve sold, I’ve regretted it. I no longer sell. Only spend when needed.
Exactly right. I felt stupid when I cut BCH losses at $800… feel less stupid about taking 10% loss than if I was still holding.
Do what you do and be patient.
Need more buying opportunities
I just earlier today made a decision for all my cryptos on whether I am hodling then long-term and if not then I decide how much I am going to sell and at what price
Why are you telling me when to buy and when to sell? I’m not doing anything you tell me.
I’ve been getting better and better at crushing the “shoulda woulda couldas”. It dips below a certain price, I buy some; dips below a lower price, I buy more; goes up above a certain price, I sell some, never quite all of it. Then the ones that pay rewards/interest, I leave them sitting in there doing just that, buy a bunch more when it dips, sell just a few when it soars. This has been going well enough for me.