It was bound to happen sooner or later, but of course I should have known......... that it would happen on Day 13.
And it can happen to anyone of us
Say you will forgive me
Anyone can fail
Say you still believe me
I can't take, my funds did break
'Cause I made a stupid mistake
A stupid mistake.
So what happened
Well, let me start with the positive part.
You probably know the saying anticipation is half the fun.
Well that has proven to be so true and in this case it was double the fun.
Because once it was time..... once it was to happen...... I felt like such a trading beginner...... a true baby.
So it was to happen on the 18th of March at 09:00 AM PT and I was looking forward to it for day´s.
It was supposed to be my biggest trade so far. I have been buying Cardano (ADA) little by little since February for an average price of 0.97 due it being a solid project with a strong road-map and many exciting things to come.
And I kept adding on some more, paying up to $1.20 when I read ADA would be listed on Coinbase Pro.
And ADA kept climbing.... $1.30....$1.40 till about $1,45 at 09:00 AM PT.....
Along the climb I thought of selling, but why would I Coinbase seemed like a sure thing for adding a couple of cents on to each coin I owned.
At 09:00 AM PT I was watching the 1 minute trading trend and it exploded....💥💥
Well ehhh, correction it imploded as longs were liquidated on ADA futures...
And instead of my childish expectation to see ADA shoot up to $1.75 or even beyond. It dropped like a brick and it hurt like catching that brick with your teeth.
Yes, I know that ADA at $1.45 might be a little overpriced...but it would not be the 1st time that that didn´t matter.
So ADA went down and down fast( 16:00 being = to 09:00 AM Pacific Time).
And it kept going down till around $1.24.
What Happened Next
So guess you wonder what this baby did when it´s expectations were slammed pieces´s by people that play the game just a tiny a bit better.
I sold half of my 230 ADA´s at $1.32. As I already had a selling target planned at $1.30 after ADA reached an ATH at $1.50 and then dropped back between $1,00 and $1,10.
This sell is intended to have more funds to buy the next ADA dip, as I truly think the project has potential and a bright future ahead.
So in the end I walked away with profit and a bruised ego.
Of course I foresaw this as a possible scenario....but not as most likely one. But in all fairness, it was only Coinbase PRO so with a bit of hindsight I might have overestimated the impact (and many others with me).
Greedy Little Me
Guess I just turned greedy, which is not my style as I tend to trade carefully and take little bits of profit along the way to the top. This time I betted on an other approach and lost.
Well lost is a big word, I did not win as much as I hoped.
But I´ve learned another valuable lesson, the expensive hard-way again
But hey, this baby is only human and mistakes are bound to be made.....right?
And I did have 2 very exciting days getting ready for this Big Disappointment. The only way to survive trading game is to keep smiling.
As another saying goes: “Man makes plans but God laughs.” Well, in that case I might as well be on the same side as God.
More Bitcoin Baby
Below the link to my previous blog
Day 12 "Magic Internet Money Mystery"
Or start reading about my crypto experience from day one.
Thanks for the read...and have a lovely day!