Biggest mistakes you made during the December 2017 BTC bull run to $20,000
The halving is coming up and there may be a chance that we see a bull run again if history repeats itself. List out the biggest mistakes you made during the pre-bull run, bull run and post-bull-run period so we don't make the same mistakes again.
Hot hand Fallacy - As this was the first time I was trading in a massive bull run, I believed, its going up, so it will keep going up. When it went down, I thought, it will come back up again (it didn't).
Looking and short term trades - I was more focused on Buying $1 now and making $1.05 in a day. Very difficult to trade like this without bots and algorithms trading for you.
Looking and Linear scale graphs rather than log scale graphs - Tying into the point above, I was looking at the smaller picture rather than the bigger picture. When I did look a the bigger picture, I was in linear scale, and it made me think bitcoin will go to a million.
Happiness - The thought of how much money I made made me so happy that I ignored common sense. What goes up must come down. I was tied by the hot hand fallacy.
Focused on BTC - I was so focused on BTC (because thats what people and media kept talking about). When I should haven thrown cash and shit coins in the 10-50 market cap rank range as LOTTERY tickets. They were the huge gainers. For some reason my only lottery coin I bought was reddcoin and it paid off 20x
If I think of more, I will post them. These were my biggest ones, what were yours?
Last edited by Allura; 03-18-2020 at 04:10 PM.
I barely use MPGH IM, Send me a private message to reach me faster!
Also I currently don't sell anything!
Well, I am not sure if it was really a mistake.. I began e-whoring in 2015. One day decided to put my $100 from Paypal to btc coz paypal as u all know is a bitch.. I never really got around to spending that $100 ... and in the end of 2017 .. cashed it out with handsome profit. But I never thought of investing again into the market. I figure that those few months held a greater profit window than the 2 years combined.