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I sold my crypto bags one by one this year. I felt fantastic for hodling long enough to swing +20% minimums on my btc, doge, shib, eth. Doge, I got +39%. Then

I sold my crypto bags one by one this year. I felt fantastic for hodling long enough to swing +20% minimums on my btc, doge, shib, eth. Doge, I got +39%. Then crypto kept going up. Whoops. Made money, but not all of the money. As a consolation prize, profiting any% on crypto probably puts me in the 1% of investors. I will say I missed my best timing on Doge by literally sleeping on it another night. I was out at a bar with 2 of my brothers, and was joking that my Doge had hit +69%. Would have been up a few hundo if I'd sold then instead of day after.

tombert 3y ago
It's a frustratingly easy mindset to have, and it's kind of objectively wrong. If I put down money, and got more money back without any real effort (outside of clicking a button or two on ETRADE) then that's a win. I got free money! But that's just not how my brain works. Instead of being extremely happy that I got extra cash for nearly-zero effort, I'm sad that I didn't get more cash for nearly-zero effort. I try and fight that mentality and focus on the good, but sometimes that's easier said than done.
- gigaflop 3y ago
  My way of fighting the mentality is to be lazy. No joke. I'm either Accumulating, Holding, or Looking to Sell. For stocks, I generally stick to #1 and #2. Buy if numbers/velocity looks good, hold if I don't like how they were doing. When doing my taxes for FY23, my Robinhood showed zero crypto sales. Having seen a few winters, I am willing to wait 6 to 8 months before considering getting back in. Musk might tweet about Doge on the shitter again, and spike its price by +69%, but I don't have the patience to follow such micro movements. Show me the 1yr graphs.
  - omnibrain 3y ago
    > My way of fighting the mentality is to be lazy. No joke. There is also "too lazy". I was too lazy to buy Tesla Stock during the Roadster Days. I was too lazy to get some Bitcoin when a friend could not stop talking about it in 2010. On the other hand, I would have sold both after they doubled or tripled for the first time. I know myself...

tombert 3y ago

It's a frustratingly easy mindset to have, and it's kind of objectively wrong. If I put down money, and got more money back without any real effort (outside of clicking a button or two on ETRADE) then that's a win. I got free money! But that's just not how my brain works. Instead of being extremely happy that I got extra cash for nearly-zero effort, I'm sad that I didn't get more cash for nearly-zero effort. I try and fight that mentality and focus on the good, but sometimes that's easier said than done.

gigaflop 3y ago
My way of fighting the mentality is to be lazy. No joke. I'm either Accumulating, Holding, or Looking to Sell. For stocks, I generally stick to #1 and #2. Buy if numbers/velocity looks good, hold if I don't like how they were doing. When doing my taxes for FY23, my Robinhood showed zero crypto sales. Having seen a few winters, I am willing to wait 6 to 8 months before considering getting back in. Musk might tweet about Doge on the shitter again, and spike its price by +69%, but I don't have the patience to follow such micro movements. Show me the 1yr graphs.
- omnibrain 3y ago
  > My way of fighting the mentality is to be lazy. No joke. There is also "too lazy". I was too lazy to buy Tesla Stock during the Roadster Days. I was too lazy to get some Bitcoin when a friend could not stop talking about it in 2010. On the other hand, I would have sold both after they doubled or tripled for the first time. I know myself...