This is my first bear market, and it has been such a rush. I enjoyed almost every bit of it, what a rush – I didn’t panic sell or buy(ish) although I did ape in some stupid trades.
I want to become a better trader, and are therefore collecting my mistakes and mishaps to avoid repeating them. And for this, I would really like your inputs.
When UST started depegging I aped in around 0.4 and 0.33 when it first hit around tuesday I think (around 300$) for a quick profit when it would hit 0.7. As the idiot I am, I accidently sold it for 0.34 as I was trading during a company meeting on my phone. This mistake cost me a lot – so its a no brainer that trading while semi-focused is off the table. (I also feel that I deserved this, as I was a bit ashamed of exploiting the arbitrage opportunity).
Anyways, I was so annoyed by my mistake that I decided to ape in again around 0.20$ and 0.25$ to recoup the loss if UST would hit 0.5$ and 0.6$, but then UST lost the fight. From this I learned that trading while angry is a bad idea.
I exchanged the UST for BUSD, and decided that I was already at a loss so I might as well gamble it away – so I threw the BUSD at LUNA and are now able to recoup my loss. But now I cant get myself to sell my LUNA as I, for some odd reason, believe that it will go even higher. I know that I will kick myself, if it turns out that LUNA will rise more – and also kick myself if I lose it, while I had the chance to recoup.
How do you guys deal with the, what I expect happens to all investors, greed that comes from potential gains?
If there is one thing that I certainly learned from this bear market, is that the majority of my portofolio is to be invested in “solid” projects like BTC and ETH while the rest is allocated to more riskier assets.
Is there anything I should learn and know? Other than DCA ofcourse!
The crypto noob