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notsofast
🌹 : Black Lotus Destroyer : bitcoin beyonder : coin miner : economic futurist : metagame winner : no financial advice : ʕ •ᴥ•ʔ
notsofast kirjasi uudelleen
It is so so so easy to see people talk like this and think "it will never happen to me, I have so much, how could it possibly go down that much - I'd cut before then"
I I thought it in 2021, my friends thought it, and many thought it before me, right before losing everything - Easy come, easy go
It can feel almost impossible to lose what you have made until it happens to you and you're forced to look back on what happened and why it happened - if you can manage to do this, and be honest with yourself, chances are that next time you will make it you will keep substantial amounts of that wealth.
Especially on chain it is extremely easy to lose the money you have made and constantly seeing ridiculous PnL's (many fake) can skew your expectations of what you 'deserve' or should have made by now
In a similar sense, I know on twitter people here talk in absolutes and talk about how tops are obvious, but the fact is, it won't feel obvious in hindsight. It will feel like a dip we are on right now - you expect it to go back up, each bounce becomes smaller and smaller, but you have been rewarded for holding, so you keep holding. Eventually everything is worth nothing and you round tripped everything. 8 figure NFT portfolios turned to dust in a few months - memecoins will be the same. Many have the potential to change their life and should do it
But if you do roundtrip it you simply are stuck here as a prisoner forever until you make it, like many before you. Godspeed
6,04K
notsofast kirjasi uudelleen
blew 90% of my port and this cycle's gains, not afraid to share
here's what happened thus far :
- oversizing : got comfortable with a decently large port and started overbetting to match the holdings of people with much larger ports than me, usually ended with me selling at a small percentage loss in order to preserve the massive amount of capital (to me) that i put in, resulting in a slow, but sizeable, bleed in my port.
- impatience : I would be up a solid 2-5x on a play that I thought would be a 20-50x, I'd see a slight downtrend and would take the minuscule profits in order to alleviate my worries.
The coin would then typically do the 20-50x that i foresaw.
- trying the cupsey method : I think every trader tried it, the new pairs method, but nobody I personally knew at the time really tried it like cupsey, the goal was typically to buy under 100k and pray for a couple mil or 8 fig MC. I almost always got burned or rugged.
- borrowing conviction : there were a lot of times where I didn't develop my own thesis and I traded based on the conviction other traders had. 8/10 times that happened I would overbet and get SEVERELY burned with nobody to blame but myself.
- no due diligence/copytrading : if I saw certain wallets buy I would blind copytrade and worry about due diligence later. I learned the problem with copytrading is that you typically know nobody's price targets and WILL get burned 9/10 if you're even SLIGHTLY greedy.
- greediness : I would go up a substantial amount, 20-25x even on a coin, and I would say to myself but what if this is the 100x, what if this is the 1000x and it always resulted in me holding for giga long and selling at a loss. I didn't know when to close out a trade EVER, felt like I ALWAYS misplayed it.
I've now officially made a bag and lost it, made a bag and lost it, made a bag and lost it, made a bag and lost it, and made a bag and lost it.
I'm not bitter about it, I wasn't ready for that kind of money at the time anyway. Feels like I finally have woken up to the fact that greediness is what has killed me in every single scenario. So did trying to play the game like everyone else.
I don't think I'm one of those traders that can sit at the screen and trade 50 coins a day and end up profitable, I think I'm more of a few trades a week IF THAT kind of guy (considering I almost ALWAYS have the right idea on which coins are gonna giga send over a few days to a week)
Feels like I've tried to play the game everybody else's way, which was a complete skill issue on my part.
Time to change it up and focus on my strategies and frameworks.
Let’s run it back (and keep it this time)
- OG
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