I just made a huge trading mistake and I'm still trying to recover from it. Below is some notes that I put down to remind myself/review next time I need to make a decision.
These are absolutely PERSONAL; so they might not apply to you. But I'm sharing them in case they are useful. I wish I had this list or points before I made my decision.
Take care & Peace!
E
v THINK THOROUGHLY BEFORE YOU DO ANYTHING!!
v Make LONG TERM Plans (I won't sell this coin until I make %1000 profit)
○ DON'T THINK SMALL (If I sell this now, I would make $2K. Is that what I want?)
○ DON'T DO ANYTHING IN A PANIC!! It should feel good to make the decision to Buy or Sell
○ DON’T SELL YOUR DREAMS FOR A FEW THOUSAND BUCKS!!! If you have 75,000 of a coin, you bought it probably not to make $2K!!!!
v BUY LOW - SELL HIGH - Seriously!! Don't be too impatient!!
v DON'T TRADE TOO MUCH - Remember that you will make great profit from only a few well planned trades
v Be Confident, but don't be full of yourself!!
v Trust your intuition but don't be impulsive!!!
v If it's a totally new situation… Sit tight and decide to learn from the situation!
v When you make a decision of SELL, make sure you feel comfortable with your decision (and don't feel regret next morning when you wake up!!!!)
○ What percentage profit you would be making if you sell now (like %1000? or %10?)
○ How many coins are you selling? 10, 100, 100000? It makes a huge difference when you have a lot of coins!
○ What has been the trend? (Shaky, gradually and consistently up, going down?)
○ You have a trusted outsider's insight/tip
v When you make a decision of BUY, make sure you either have a great insight to buy or make sure that you trust this buy is going to make a profit
○ The currency is solving a problem
○ There's a huge potential to raise the value
§ They are adding new functionality/solutions
§ The team is getting bigger
§ There are big investors interested
○ You believe in team/concept/value that the currency represent
○ You have a trusted outsider's insight/tip
v There will ALWAYS be missed opportunities! ALWAYS. There are many smart, experienced people who lose millions of dollars! Try to learn from your mistakes and LET GO!
v Keep working on YOURSELF and improving YOUR Skills/Talent/Knowledge/Relationships/Spiritual Practice.
v Remember Money doesn't bring Happiness (although it helps!)! It's the Peace that comes from INSIDE that counts!
v Look at where you were and where you are now overall! Are you in a better place; wiser, more humble, more awake, more peaceful?
v Ask for future opportunities where you do not make the same mistakes.
v CONTEMPLATE/MEDITATE ON THE OUTCOME! IF IT'S MEANT TO BE, IT WILL BE