Hello Steemit community!
Usually this should be an introduction, but since something bad happened, I wanna share this with you instead.
Since I got accepted today on Steemit, I wanted to buy some Steem coins. Really. Just one big mistake and everything felt like kinda in vain...
It happened today, just some hours ago. I started to trade with cryptocurrencies 1 month ago starting with 0.5 BTC (Bitcoins) (˜1400$) and got successful, learning a lot of things in such a short time. Also my wallet increased to 0.88 BTC (˜2255$) and I could say I was proud of myself being able to face difficulties in trading and while still having small losses, I somehow could recover the money back. Just today, everything went wrong.
As you can see, for just a short time, I turned my brain off and got too greedy. A new coin appeared on Bittrex and I saw the market value rising and rising. Everything was green, the words "BUY" were popping all the time. 0.0013... 0.0014... 0.0015. I thought this might be the chance to get to 0.002 and finally have my first 1 BTC... so I bought it. ALL-IN. You might think, what an idiot, why is he doing this, you should understand that other new coins had high increases recently and most buyers were lucky, selling them for a high price. Despite of not knowing much about the new coin, despite of never having experience in buying short, I still did it. And I failed hard.
In the next 5 minutes everything went downhill. Instead of the green words, now I got red words ("SELL") popping up. 0.0016....0.0012...0.0008. In shock I didn't know what to do, like my hands were shaking and heavy as stones, impossible to move. I couldn't sell the new coins I just bought because I already lost its value of 50%. To be honest, I still hoped that it will bounce back high again (Holding them). Everything felt like a big joke right now. Finally after I realized that I couldn't save anything anymore, I sold them. The value loss was at over 90%. What did I think? Why didn't I buy Steem at that moment? There were so many questions and blames in my head, since my hard working coins were all gone in just like 5 minutes. Just one time, I got too greedy.
After taking a shower calming down, I realized my greed. Being blind for just some minutes was enough to throw away every single coin I've earned. Instead of regretting everything I've done, it is like a life lesson. Of course the loss was really big for me, others might laugh about the amount of coins I had, but for me it was the money I was ready to lose. I am not poor after that loss nor am I fearing for my existence. Just it was a lesson I will never forget and since I enjoy trading so much, I won't stop here. Things will just take much longer to accomplish so instead of hiding myself in a corner or getting drunk like someone who just lost his girlfriend, I will accept my loss. Even if it feels very difficult to continue, I will find a way to be better than before. Now with 0.03 BTC (76$) in my wallet (I made more losses), I need to fight my way back just like before.
I hope everybody who reads this, will also care about his/her mindset in trading. Not just trading, but also in general how you make your decisions, and how to recover back from big losses, your own mindset.
Thanks for reading, have a nice day!