Hi all,
I wanted to ask how do you control the emotions that push at us all when we are trading?
As an example and keeping in mind I'm still quite new and inexperienced when BLUR first came available on coinbase I bought some. I DMOR in my flawed way and was confident there would be a spike then a drop then a bounce back to roughly GBP 1 per coin. I should have known better really considering coinbase gave me warning I had never seen before about how very volatile and experimental this one was but I cracked on.
The spike had already hit before I could buy then came the dip. I bought around 0.7 GBP feeling smug and it went back upto a little over GBP1 really I should have sold here but this is where the greed kicked in I had my plan but hell what if I had underestimated what if this was the next big thing maybe I should hold just a bit longer. Then it dropped. and dropped some more. went right down to about half what I bought.
I thought well it wasn't a large investment just leave it be and see what happens. My plan was wait for break even and sell or leave it in my wallet as a warning to myself.
BLUR is starting to come up a bit in the last week or so closer to the break even and along with it is my greed thinking hmmm maybe I wont sell at break even and just let it ride. could be the next big thing...
Do you guys have any strategies to control this sort of thing or are we all here because at the end of the day we are gamblers?
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