If you have ever tried to trade cryptocurrencies or other stuff, then you have for sure had thoughts like, if I only had done it like this, or why didn't I? This is entirely normal, but I am trying to move away from them and not let them get a hold of me. After all, those thoughts are trying to make me image what is impossible!
What do I mean?
If I had only....
I bought some VET tokens a few weeks ago (Vechain). I bought them at 0,00002400 Ethereum per piece. Well, by that time, the price was about 0,01 USD per piece. Now, that was nice. Then the prices started to go up, and not only did the Ethereum price go up, but Vechain also. So at the top, the Ethereum price reached 0,018 USD per token. That is almost 80% up. That is when I was considering selling them. But, if I would sell... should I sell it to Ethereum, or to USD.
Then came the little crash yesterday, and the price of Ethereum/USD fell, and so did the Vechain/Ethereum pair, and as a result, also the Vechain/USD price. Now, it is easy to see afterward, that if I had actually sold at the top and traded it for USD, then I could have bought myself back in and now be the happy owner of 25%-30% more tokens.
Guess what I did? NOTHING AT ALL!
And do you know what that means? What if I had done that? What if I had sold them when I considered doing so, and bought myself back in?
But do you know what? That is just dream thinking! If I had sold, the prices could have kept going upwards, and I would feel sorry about that. If I had sold, I might not have bought myself back in, hoping that the prices would fall even more. And anyway - there are so many "what if" questions in this, that it is just unbearable.
Of course, I could have done things differently, but it is important to know that there is no such thing as a perfect trade. There are so many things to pay attention to, especially as the tokens go up and down in price, and when you do not trade against a "stable coin", but against a very volatile asset like Bitcoin and Ethereum, it gets even harder.
In other words, forget about all those "what if" thoughts! Stick to your plan and be happy whenever you sell. That is my best advice in the situation we are in right now!
Happy trading, happy blogging, and have a wonderful weekend everyone!