Longing the wrong long for too long

By belemo | belemo | 28 Jan 2021

I dive into the market like the idiot that I am to buy the rave of the moment. It is actually a FOMO based trading system that more times than not works out.

I like buying shitcoins that are pumping or about to pump. Through this method, I get to scalp those pumpers and make a tiny bit of profit in the process. It is not the greatest technique but it is largely effective.

In the midst of all this scalping, I like to buy some coins for long term holding. A nice example is AVA that has largely been profitable. I've seen the USD value of my holding more than double my initial investment.

For every AVA success story, there's a shitty experience of a wrong long that I pick in the midst of the coins. One of which is DOT, a random shitcoin that I noticed through Twitter and has jumped to the upper echelons of crypto ranking.

I bought the coin at a shitty price($17.5) and while it has pumped above my initial investment value, it hasn't been substantial.

Now that there's some healthy correction in the market, the coin has dropped significantly and I'm in the red.

I felt good about the coin for holding long term but I'm starting to feel like I was wrong. I'm going to cut my losses by accepting the shitty profit and just hold the USDT for the impending bear market.