I have always kept my Profit & loss account on Excel since I started my crypto journey in 2019. At this point, where there is still time to be in cryptocurrency, I wonder how people treat their funds.
I started simply gambling, buying whatever ETC and BTC I could, and went through some good years of price rises and learned about exchange fees the hard way, sometimes thinking I took profit to take a loss later when the transaction went through. Always felt HODL-ing forever was the way to go, and whenever I thought I would leave for good, to be back only a month or two later.
Coming to 2021, I lost a bit in meme coins, with only Shiba-Inu making me money, and from then on, especially with the drop from BTC's ATH not too long ago, and like quite a few, lost money with the incessant idea of diamond hands, I have started making plans regarding:
- exactly how much I would spread my fiat across crypto, stocks, ETFs and such
- slapping myself whenever FOMO may occur as I usually become exit liquidity in these cases
- cutting myself at 25% profits to start taking profits and buying later when dips appear.
I guess I spend even more time studying crypto (not that anyone can figure the market out fully) than I do on the stocks I dabble in and have moved into, I hopefully can say, investing instead of gambling.
How about you?
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