I originally bought 0.33 ETH in Mar 21' for a total of ~$430 . Since then and without using any additional fiat, I traded my way to 1.92 ETH - currently worth $6190. I no longer own this ETH, so I'm happy to disclose the exact amounts. I did the same with other cryptos but I'm using ETH here as an example.
I did this using technical analysis, fundamental analysis and gauging overall market sentiment. In other words: selling highs, buying lows. I will not share the details of any strategies here.
But, here's what I learnt about the overall experience:
- Crypto is more predictable than it appears but only on a macro level. You cannot account for FUD, unforeseen news or black/white swan events - all of which can and will risk your entire portfolio.
- Trading is incredibly stressful. My mental health suffered and every aspect of my life took a hit. I grew obsessive.
- The FOMO is incredibly strong but patience is key if you're to make it out alive and in-profit. It was a constant battle between the two. There will always be another opportunity but it's hard to see that when there are large red/green candles in your face.
- It's time-consuming and a full-time job. I'd keep an eye on charts 10h+ a day.
- It's addictive. You're always chasing that next trade.
Do I regret it? No. Because (i) it worked for me (ii) I learnt a lot.
Will I continue to do it? No. It's just not worth it. Health > wealth. I'll be returning to DCA.
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