I found out about the mysterious world of bitcoin as a broke ass college kid who had just gotten his only money he would have for the next 6 months from a refund check. It was september 14th, 2017 and everyone was flipping the fuck out about the whole market crashing. China was apparently about to ban crypto, and NEO took a huge dip in price. So, I said fuck it and threw half my refund check at NEO while it was hovering around 18 bucks. All the sudden, it went up to like 37 bucks. This was the beginning of my crypto journey and my new addiction. I just made 3k in three weeks.. That brings me to lesson number 1...
- TAKE PROFIT!!! FOR FUCKS SAKES TAKE PROFIT!!!!!!
I'm a greedy dumbass. I failed to take profit multiple times during the 2018 bullrun. I thought I could "outsmart" the market psychology. I looked at this wallstreet chart https://www.pinterest.com/pin/307652218273705846/
and I remember specifically thinking to myself "this won't get me, I'm gonna be fucking rich." But no, when I got profit I thought "now I can use this to get even more rich." Which is good thinking, but I kept exposing myself to the same market.. Crypto. Which brings me to lesson number 2...
- Diversify... FUCKING DIVERSIFY Garrett. You dumbass.
I went BALLS deep into crypto.. and at one point I had turned 12k into 55 GRAND, but can you guess what I did with that? You fucking know it, I took that 55 grand and put it ALL into bitcoin right when bitcoin was around 17k... "I'M GONNA BE FINANCIALLY FREE BEFORE I GRADUATE COLLEGE!!!!" Fucking idiot.. New me would have taken 30 grand and put it instantly into real estate and let the other 25 grand ride out. That roller coaster ride from 55 grand down to 300 dollars is one I will NEVER forget. It's a combination of a bubble popping combined with margin trading and not knowing what the FUCK I was doing. The true traders understand that this mentality of "it will keep going up" is inevitable. There are still some ignorant fucks reading this who are thinking "hah, I'm gonna outsmart this market and this guy is a dumbfuk." The dumbfuk part may be true, but I promise you it's extremely difficult to pull your money out when it is CONSTANTLY going up which brings us to lesson number 3.
- Dollar Cost Averaging IS the SHIT
Unless you are a FULL-TIME trader and you have multiple years of experience, then this doesn't apply, but for FUCKS SAKES just dollar cost average into bitcoin and HODL.. It will save you a lot of pain and heartache... Plus the goal is to get as much Bitcoin as possible if you truly believe in it. This is the BEST way to gain bitcoin overtime without all the stress and risk associated with trading or trying to time the market.
Thanks for reading guys and PLEASE learn from my mistakes. Donate to me for fucks sakes I lost all kinds of GAINZ...
BTC Wallet: 35Asi2Zj73wyxQQMxxZTS3y92CHUThiNrf
LTC Wallet: M8JeZ9MFeS9VMgCVheSqJCA9n6NavZY4to