$CT had me trapped for what felt like a century. I spent the whole night sleeping fitfully, and just now I got out at breakeven with a tiny profit. Before I sold, I already had a feeling it would turn into that all-too-familiar hindsight-voodoo script 😭: 【❶ You get trapped for all sorts of reasons and suffer for ages, but can’t accept the loss, so you leave a limit sell order, thinking you absolutely have to make some money; ❷ At long last, the price returns to your cost basis, then stubbornly refuses to go either up or down. It’s in a quantum superposition, bobbing up and down, turning green one moment and red the next, and your emotions are on a roller coaster; ❸ You start looking for patterns in all the wrong places: drawing every kind of line, checking every technical indicator, applying every trading theory you’ve ever come across, and searching for any reason the price might get pumped. One moment it looks like a Chan theory third buy point, the next like a range-bound market, then damn, maybe it’s a rounded bottom—until you’ve lost all sense of time; ❹ You finally can’t take the mental torture anymore and sell at breakeven. The moment you’re out, it starts pumping above your sell price. Every time it goes up another 0.00000001, your heart aches a little, and you kick yourself over and over.】
Don’t worry, I’m not talking about you. I haven’t installed a surveillance camera in your house. I’m talking about my own trade, not yours 😭😭
A few days ago, I was farming points on #ALPHA and trading #ALPHA竞赛 . I forgot to sell after farming, then actively tried to scalp it, and ended up trapped in $CT . My average cost was 0.362 (the gray line in the chart below). Then, on a whim, I kept changing my sell price to 0.36, 0.362, 0.5, 0.38, 0.4… and finally settled on 0.4.
Over the past few days, the price kept trying to break out, but each time it got pushed back down around 0.335. At a little after 1 a.m. last night, it reached 0.35. I agonized over it and didn’t sell; I was so exhausted I fell asleep. When I woke up after 6, I saw the price was 0.368. I wanted to sell, but then saw it had reached 0.379, and couldn’t bear to 🤣
And then came the script I described at the start.
The reason I finally sold was that I realized my cost basis of 0.362 (the gray line in the chart) and my blindly placed limit order at 0.4 (the red line) just happened to be support and resistance levels, as shown in Figure 1. It was pretty obvious. After waking up a little after 6, I spent almost two hours dithering, watching it fail to break above 0.362. My eyes were about to go blind, and I figured that even if it broke through, it might not reach 0.4. 【Besides, this trade was a weird one from the start, and this was the Nth time I’d researched a token only after getting trapped. Getting out at breakeven was already a blessing.】
The reason I held on for so many days was that I was still fantasizing: a low-float, low-market-cap alpha coin, backed by YIZ labs but not yet listed on spot markets, and a DeFi project that wasn’t one of those sketchy no-team, no-product, no-community projects.
Trading is so hard. Back to petting cats 😭
Don’t worry, I’m not talking about you. I haven’t installed a surveillance camera in your house. I’m talking about my own trade, not yours 😭😭
A few days ago, I was farming points on #ALPHA and trading #ALPHA竞赛 . I forgot to sell after farming, then actively tried to scalp it, and ended up trapped in $CT . My average cost was 0.362 (the gray line in the chart below). Then, on a whim, I kept changing my sell price to 0.36, 0.362, 0.5, 0.38, 0.4… and finally settled on 0.4.
Over the past few days, the price kept trying to break out, but each time it got pushed back down around 0.335. At a little after 1 a.m. last night, it reached 0.35. I agonized over it and didn’t sell; I was so exhausted I fell asleep. When I woke up after 6, I saw the price was 0.368. I wanted to sell, but then saw it had reached 0.379, and couldn’t bear to 🤣
And then came the script I described at the start.
The reason I finally sold was that I realized my cost basis of 0.362 (the gray line in the chart) and my blindly placed limit order at 0.4 (the red line) just happened to be support and resistance levels, as shown in Figure 1. It was pretty obvious. After waking up a little after 6, I spent almost two hours dithering, watching it fail to break above 0.362. My eyes were about to go blind, and I figured that even if it broke through, it might not reach 0.4. 【Besides, this trade was a weird one from the start, and this was the Nth time I’d researched a token only after getting trapped. Getting out at breakeven was already a blessing.】
The reason I held on for so many days was that I was still fantasizing: a low-float, low-market-cap alpha coin, backed by YIZ labs but not yet listed on spot markets, and a DeFi project that wasn’t one of those sketchy no-team, no-product, no-community projects.
Trading is so hard. Back to petting cats 😭
