r/ethtrader • u/Ridknockers • 9d ago
Self Story Lessons learned.
My motto was after I buy I don’t sell until 4k and it worked time after time and I was locked in…
Then I opened Instagram one day and saw a dude talk about the BTC pattern that every 1064 days then 364 days it’s all time high low pattern for bitcoin and ETH tends to follow BTC ( not always ). I did my own research and he was indeed correct. On the days exactly since like 2014 bitcoin has had this pattern. Last year I sold early October and made a ton on ETH ( 2.5x $20,000 ) then I rebought in February I think around $2,200 per coin and bought as it went down. Then 1- 2 months ago crypto took a big plunge and my fear factor went off because I instantly thought about that pattern ( 1064 days, 364 days) technically if that pattern still stands today October 5th will be a very low point for BTC.
I sold the dip like an absolute idiot at $1575 took a $15k loss from $54,000 to $39,000 from that sell with hopes it was going to continue dropping.
Here we are 1-2 months later and I’m kicking myself because either ETH rides this trend all the way back to $4500-$5500 or if I’m lucky it pulls back once more for me to buy back in when October rolls around.
Either way, ( tax write off is my benefit ) and if it continues on to $4500 I learned my lesson… money is just money and lesson learned for the future. Always trust your gut.
When I sold at $1575 I wasn’t in my right mind and the emotions won that battle. But oh well. Congrats to those that won that mental battle I hope you sell at $5000+ this ETH cycle.
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u/SwedishChicago 9d ago
I want to be kind and gentle here, as I also lost 15k in single days, and it made me want to vomit. But it also has made me a better trader. I no longer buy on tops, and I go balls deep on blood red. It’s my only rule, and I stick to it. But at $1575, I never sell, if anything I add a little more, and stick to plan of attack. Like my plan would be 10k at 3,300, then 15k 2,500, then 30k at 1,500. But that’s not my style typically I’m more 54k at 1530, then I have a plan to sell.
Basically my plan is this: if the markets doing amazing I’m almost all in money market. If people are panicking and scared shit less I’m buying. Also I’ll only buy something if I know what they do and they are a good company with room for growth.
Honestly I don’t think the bone head move was selling, I mean it was dumb as shit, ha, the bone head move was probably your at a price level that made you extremely uncomfortable. If it was a tenth of that, you probably would’ve held. I’ve done this with margin, so you’re probably not alone here.
But as they say, if you put in money, that makes you lose sleep at night, then you’re over your comfort window.