#B90X - DAY 34 - Management of Your Emotions

b90x

#21

I got into crypto thinking about a 2-5 year plan, I need to buy and be able to hold for 2-5 years, so I told myself, it’s best to DCA little by little this year as I am new at this!!! Bullshit!!! LOL, I caught myself slipping everytime the market moves. Every dip, I buy instead of small positions, I buy large positions to hold. What does the market do, it dips even further, LOL, and now FOMO sets in, but it’s not a big deal, I believe, “HOPE” that the market will be better in 2-5 years, so the fact that the market is in the red affects me because I can’t buy more, not because I am losing money! I understand markets enough to know that volatility is a good thing. The market is alive! So the short term fluctuations only bother me because I can’t buy more, so I have to pace myself and just buy every month like my original plan was and stick to it.


#22

I find it very hard to stop my self from fomoing on every buy. I’ve just started to tell my self to wait one hour before I buy anything unless I’m dollar cost averaging my way into a coin. I did get wrapped up in the ripple hype and fortunately took some profits. but very little profit. so this market is teaching me to put my emotions off to the side and think before i jump now. I’m becoming a better and more informed investor over time. thanks for all the help peter and friends.


#23

I HODL mostly now… My passion is teaching new comers who to setup and start using cryptos. Breaking down what blockchain is and how it will impact all of us in the near future.

Anyhow, the last trade I made was for HIRE tokens on HitBTC. Bought at a comfy price I was willing to enter, since the token has been red hot lately. No buyers remorse what so ever. Cost averaging is something I implemented from the b90x.

As the days grow, I’m becoming more confident and proud of my skills and experience through the whole process. See you all on the moon!


#24

My last buy was BTC. I have a thing for round numbered bags. I made a poor buy because I wanted to have a nice evenly rounded number and even though I could tell that the price was probably going to make another dip (it did) and see resistance at the 200 day MA… I bought, because I like round numbered bags and I want them coins in cold storage.
Such newb.
I also got attached to a nice round numbered bag when it had gone up bigly X, and instead of protecting and preserving my capital… I held that round number. Need to avoid getting attached to round numbers and buying too much just to get a round number.

Need mo patience


#25

Today was another difficult but very important subject. Learning how to manage our own emotions is a challenge specially when we trade.
For most of us who are deeply in crypto, this is very important and we need learn how to manage our emotions if we don’t wanna end up in mental house. lol


#26

My last trade was picking up some TNC several months ago. I felt very confident in placing the order and Blockchain Brad’s vid helped turn me on to them initially. Since then, the price is down about half but knowing I got in for the long term play - I can say I have no doubt it will rise in years to come!


#27

I was reading the chart fort BTC before I watched this evening’s stream. I did not pull the trigger because I thought it would be smarter to wait for a few sessions or not buy any at all. After noticing the increase in profit during consensus week, I decided to purchase some BTC. I felt great through the entire process before/during/after because it was an informed decision and I’m pretty sure that whether the price drops or increase, in the future it is not going to matter because of the crazy BTC GAINS coming our way :mooning:


#28

Last trade was today when I bought some more ICX. Emotion wise I was happy, ICX below $4, any dayyy. Also, I know the market is tanking right now but knowing that ICX is such a solid project and will increase in value overtime, leaves me at ease.
#HODL #Life


#29

Are you still doing the DCA? I hope you are because you must have tripled your investment by now if you are. Definitely a solid project.


#30

I have been, took profits too early though. I shouldve continued DCAing even to now but I stopped at the moment.


#31

My last trades:

  • Horror

Because i just x3 the weight of my altcoin portfolio.

So for the past 3 or 4 days i had to build up my portfolio to a much bigger size.

That meant that i was under invested (only like 30% of my crypto funds invested)

And to make things worse i had already decided to get out of a few trades.

so instead of building/adding to the portfolio i actually was taking profits at set goals so my portfolio was looking even more underinvested. and some positions were out of balance.

In the end i decided to sell off everything and start fresh with a new portfolio, well balanced. and build it up ove a few days.

CONCLUSION:
When you increase your portfolio, if you increase it in too big chunks at a time (like more than 20%) you will go through hell as your entire portfolio will look totally out of balance.

I’m glad i went through it. I knew i would feel that (i researched it before) and i went through it.

It’s true, increasing your portfolio by more than 20% at a time is hell.


#32

In my opinion, once you do proper research of the investment opportunity, watch the team, community, and overall market, it goes a long way in managing emotions. I do 80% HODL and when I buy those, it’s usually via Dollar Cost Averaging (DCA) so when I buy more as per my budgeted schedule, I actually feel great, despite the fact that it may drop valuation due to overall market conditions and I’m like, “Great, this means I’ll get more on my next budgeted DCA buy!”. Great info Petah!


#33

iv started DCAing with with BTC ICX and NEO so i have taken peters advice to buy these 3 like clockwork every friday.
Theyre my long term HODL goals so i dont have too much emotion apart from the after thought of where will i be in 5 or 10 years from now.

Before Purchase my biggest emotion is when a new crypto or ico comes into the space that really interests me i get full FOMO and its hard to contain myself so the emotion on this side is the price is low but it may go lower with a small chance with potential higher returns.
During buying (latest fomo being bezant) i think ok that’s it no point regretting it now its done if i had put in a buy order and the price goes up i would have gotten less of it, if the price goes down i would have gotten more of it.
After the Purchase if i come back later to look at the charts later that day and i see the price goes down i think damn i could have gotten more of it if i waited with a purchase order and have some regret, i think thats the greed inside me that im still learning to control

Iv stopped the urge to buy on an impulse like at the begining before doing the basic fundamentals even though i may miss on an ico or a good price but its still an impulse if its not DCAing and thats not done without setting goals of how much money im willing to lose my ass to spend on that crypto

All of the trades on new coins has been 50% fundamental and technical, 20% news media fud and fomo, 20% seeing something new and interesting from youtubers i follow and 10% hope because the tech still yet has to be proven and the devs are good enough to pull it off and not bail

At the very begining i was a total noob and traded on friends advice and some of the coins i looked into after purchasing was total crap and sold some at a loss and very luckily with some gains and told myself no body knows how to invest my money but myself and spent the time to educate myself and found the B90X and its helped me alot


#34

Really excited when I learned about blockchain in Oct 2017. The potential was easy for me to see.

I made multiple entries into bitcoin and others altcoins during the bull market. Suffered and frustrated during the 2018 pullback and learned to HODL instead of eating the loss. Waiting for the moonshot.

In the meantime, my strategy is to DCA with the majority of new funds (75%) and 25% for day trading.

I still feel a need to day trade periodically (not deceiving myself, it’s what I like to do). I find that if I am patient, with certain market cycles, I can manage a 5-6% daily return (in a perfect world that’s 150% per month increase). If I get stuck on the high side of a trade, I HODL it, and wait for my next (25%) allotment and start over.

Again, I emphasize certain market cycles, with patience and only for a 5% gain. This day trading is with only a small portion of my monthly allotment. This activity seems to satisfy my day trading addiction.

You gotta find what works for you. This works for me. This is not financial advice, I am just sharing what I do.

B90X has been a life-saver for me in that it is teaching me the skills and strategies to trade/HODL and to control the emotions while doing it.
Thanks for sharing it Petah!

DAY 34 – Emotionally stable….at least for now… moving on :rocket:


#35


I have been practicing my TA on LITECOIN. My intention is not to make money, but to build up the coin. Sell high, buy low. Started with $100. of course when I first bought it, I had not gone through all of the Technical Analysis days on B90X, so the coin instantly went down in value.
That is besides the point.
After selling yesterday, I could not wait to get back in, But I had to wait, as the indicators were not there. So my first emotion was frustration that things were not lining up properly fast enough. It was a long wait. Over 24 hours. But finally, The RSI dropped to 30. I started to get anxious.
Now I’m checking the moving average, and waiting for the cross up.
It’s getting closer and closer. Finally the cross up happens. I pull the trigger and buy
But I was so eager to get in the trade that I did not wait till the end of the cycle. And at the end of the cycle there was a doji. Which indicates indecision. Which tells you to wait a couple cycles and get confirmation. So now I’m experiencing regret for not being patient, after being patient for a whole day.
It turns out there were 3 dojis and the price dips a bit. Instant “Oh Crap, What Have I Done?”
But I got lucky, and the price went back up. Now I am watching for the proper exit point.


#36

I had started the year DCAing with Peter and manged to stay consistent through April. I had also joined a trading group (Signal Profit) and started day trading in hopes of increasing my SATS in the long term. Everything went great for a while then I started missing my stoploss alarms because they were hitting at night while I was sleeping. So now I’m holding about 30 different coins and most of them are at a significant loss. So, I have been wanting to convert most of them to BTC and then spread out into ADA, ICX and ICON. Today I plan to buy some BTC and ICX.


#37

I am currently DCA’ing every week. As soon as I get it though I try to do some basic TA to buy the best I can (currently trying to accumulate as much ICX as possible) I usually get anxious to buy on DCA days because the price usually now has been going low on Thursdays and my DCA is Friday. It will get low on thursdays and from what i’ve been seeing jump a few percent in the morning on friday when I want to buy, I tell myself to buy before it goes up, but then I step back, breathe, and set a limit where I think it will go. The last buy it was like 77 cents thursday, shot up to 94 cents and I set my limit buy in at 84 cents. 3 or 4 hours went buy and I had got my price. I was relieved, but I knew it would prob go down, kicked myself a LITTLE, but you never know. I was just happy I didnt fomo at a higher price (even though ICX is a still right now IMHO)