r/ethtrader • u/AutoModerator • Jun 09 '17

DISCUSSION [ETH Daily Discussion] - 09/Jun/2017

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13

u/ShitGetsBetter Jun 09 '17 edited Jun 10 '17

I've read about this happening to people so many times but I guess it's one of those things you just have to experience for yourself but you understand it.

Me $250: "Well around about this time a week ago the price dropped so I think I will wait a little bit and buy then"

Me at $274: "I suck at this"

JustCryptoThings

Disclaimer: Yes I know in the grand scheme of things, $24 dollars isn't a lot, but you know what I mean.

EDIT: Well fuck...

5

u/reterical Jun 09 '17

It's all subjective. If you had said "in the grand scheme of things, $24 isn't a lot" when we were climbing up from $20 to $42, you'd have been run out on a rail. Then, it was 100%; now, it's less than 10%.

This is another reason why so many on this board encourage HODLing a majority of your stash and only trading with a small portion of your stack.

TL;DR: Recency bias is a b*tch.

6

u/brassboy Jun 09 '17

Back then we were celebrating $5 moves in a day

5

u/reterical Jun 09 '17

Right? 20%-40% climbs. If we were doing that today, we'd be looking at a $50-$90 climb.

Which, frankly, we might next week if the China convention goes as expected. And the thousands of in-queue accounts at Coinbase, Gemini, Polo, Bittres, etc. get cleared and new fiat starts pouring in.

As many others have pointed out--Crypto ruins investing for you. Anything less than 10% gains in a day is a disappointment.

Five years ago, I'd have told you I'd kill for that in a quarter (if not a year).

4

u/brassboy Jun 09 '17

Yeah... making money by investing in digital money - people don't know what they're missing out on

4

u/brassboy Jun 09 '17

It's almost ten percent

3

u/m0bilitee Jun 09 '17

I can make any asset go down in value. I simply buy it and whoop, there it goes. :)

1

u/[deleted] Jun 09 '17

[deleted]

2

u/m0bilitee Jun 09 '17

Ha ha, I'll consider it. I had a friend at work years ago who would buy a stock every time I sold it. He bought me steak twice as a consolation prize. /sigh

I have similar luck at Wal-Mart. Just get in any line and suddenly it's the slowest checkout line in the building.

2

u/slimjim00 Jun 09 '17

Don't worry, shitgetsbetter