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How to lose half of your crypto portfolio in 10 days

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by COINS NEWS 164 Views

I was day trading with a small part of my portfolio. It was going well and I was taking it easy.

But then that happened:

Day 1: Well the market is going down, I'll sell and day trade with all of the money.

Day 2: Ok, I'll make up for those loses.

Days 3-9: WTF 40% of my portfolio where are you?

Day 10: Lost some more in a stupid pump and dump.

Basically, the more I lost, the greater the mistakes became.

Now for the mistakes:

  1. Hurrying too much to make up for loses.

  2. Being too arrogant to set stop limits (I know).

  3. Acting like a gambler and chasing shiny pumps.

  4. Having unreachable goals for a single trade.

  5. Trading while having a tea party with my toddler.

And the biggest mistake:

Not calling it a day after too many failed trades.

Don't be like me.

Edit: Before that I was actually up 25-30% thanks to day trading, so it's not totally impossible.

submitted by /u/Qtredit
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