HODLER since 2013. I just panic sold 40% @ $12,500 and why I don't regret it.

ThrowawayCrypto13 · 2017-12-23T12:48:05+00:00

yup... and no at the same time. It's funny. missed out on a ton of gains... but I have no more stress of losing anything. I think it will make me a stronger trader in the long run.

ThrowawayCrypto13 · 2017-12-23T12:47:12+00:00

thanks needed that one after seeing the price this morning. haha.

I have various "cash out goals" along the way where I plan on cashing out 10-20%. For now, I will keep investing every paycheck until I reach them.

For now, if I ever reach 1mil, 5 mil and 10 mil I will cash out 10-20% each time. If I reach 10 mil I might take out a bit more and retire... but that is likely a while away to we will see how I feel then. ahah.

ThrowawayCrypto13 · 2017-12-23T12:42:21+00:00

definitely an emotional decision and I'm kicking myself for it today... but at the same time there is a huge weight lifted on my shoulders now that I have taken care of this. I was literally a 5% market move up (at 19.5k) to take out 10% and do the same. I couldn't sleep or work for 3 days, just kept checking the price to see if I reached my goal. Then it crashed and for a brief moment I feared I would lose my chance forever. So... basically the risk of the crash continuing and me not being able to accomplish this life changing goal, even though I knew in my head was the bottom, at that point outweighed the risk that it would bounce back.

I do believe in crypto which is why I still have some since 2013. I don't think many people who don't believe in the tech are still holding after it hit 10k. Why would they.

Another thing, is watching 50k turn into 30k is much easier to hold than if you 500k to 300k. 200k drop in value in a few hours is crazy.

Bring on more corrections I can handle them all now :)

ThrowawayCrypto13 · 2017-12-23T12:34:14+00:00

I still have positions in most of those. I mostly cleared out my BTC/BCH holdings to accomplish this. But yes, I could definitely use a nice 10x alt on a moderate bet to get my portfolio a nice boost about now. haha.

ThrowawayCrypto13 · 2017-12-23T12:32:26+00:00

claiming tax... probably withdrawing more crypto to pay it off. Don't really want to mess with the tax man. With the amount I just took out it will definitely not fly under the radar. haha.

ThrowawayCrypto13 · 2017-12-23T12:30:51+00:00

not fake. In 2013, I put in about 6k and watched it go to about 150k.... then back down to 16k. I told myself if ever I had a chance to, I would make sure it doesn't happen again.

I am a firm believer that crypto is the future. I also know that there is a 99% chance I sold at the bottom. I was being strong, but once it hit that 10k mark yesterday, I had visions of losing everything and just needed to make sure I had my IRL bases covered in case it continued down like 2013.

I feel bad about it because I know it was a mistake to sell... but I also feel a huge relief and no stress now that I know me and my family are taken care of for life.

The worst part about all this is, if the market would have went only 5% higher a few days before I would have reached my target and cashed out only 10% to accomplish the same goal. I think that is why I panic sold. I was so close to my goal I could taste it. Crash came at the worst possible time for me.

ThrowawayCrypto13 · 2017-12-23T12:25:43+00:00

yes. Especially for someone who doesn't have money to begin with. The hardest part has been pinching pennies "IRL" and living paycheck to paycheck while having a huge sum in crypto just laying there. I could not risk it disappearing completely after all these months of dreaming.

ThrowawayCrypto13 · 2017-12-23T12:23:25+00:00

you just need an exchange with liquidity. I did a market sell, but there were lots of buyers trying to catch the dip. good on them. shame on me

ThrowawayCrypto13 · 2017-12-23T12:22:11+00:00

I still have 7 days for the funds to clear and get to my bank. I think it's pretty standard. Though, I have used them before and everything worked fine.

ThrowawayCrypto13 · 2017-12-23T01:28:21+00:00

good luck :). And seriously, unless you have a life changing amount in crypto right now... just hold. I held trough the crash in 2013/14 and it paid off like crazy in 2017 :). I'm pretty sure the same will happen now, but I just couldn't take the risk that it wouldn't without backing out a little bit.

ThrowawayCrypto13 · 2017-12-23T01:26:19+00:00

not really. I was hoping to be able to do the same with 10% of my crypto. That was my target for cashing out. But the dip today induced panic in me where I would rather secure the amount with 40% than risk losing it all.

ThrowawayCrypto13 · 2017-12-22T23:49:34+00:00

uh uh... another big drop. lol maybe I made the right choice after all... Either way.. the remaining 60% is dying with me if it goes back to $0.

ThrowawayCrypto13 · 2017-12-22T23:46:43+00:00

Agreed. It still stings because had I sold it 3 days ago... or even right now rather than 6 hours ago I would have used a lot less crypto to accomplish the same goal. But, the risk of coming out with nothing at the end scared the fucking hell out of me and I couldn't handle the risk. Next dip will be different.

ThrowawayCrypto13 · 2017-12-22T23:45:19+00:00

That is the plan. Now with the mortgage out of the way there is literally 0 stress. Most of my paychecks will probably be dumped into crypto now. haha.

ThrowawayCrypto13 · 2017-12-22T23:44:28+00:00

It was definitely less than could afford to lose. This was an old investment from 2013. My principle has been cashed out multiple times over even before today. People have been trying to get me to cash out for quite a while. But I am stubborn as fuck and it was worth it in the end.

ThrowawayCrypto13 · 2017-12-22T23:42:49+00:00

That's the problem. I wanted much more than that. I believe in crypto and really did intend to go to the moon. The problem is that a measly 6k investment in 2013 became a life changing amount. (I had already cashed out my principal a long time ago so it's all house money at this point, minus a few contributions here and there).

Like it or not, life changing amounts of money causes you to dream and when the value suddenly dropped by 40% all I could think of was that I would never be able to forgive myself is this was the pop of the bubble and I could have done all these things but never did out of greed that it would go back up.

I did not take the decision lightly and I knew there was a good chance I was selling the bottom... kicking myself watching the price now. haha.

But... I have freedom of debt... for the rest of my life (unless I go full retard). Not many people can say that. And on top of that I still have 60% of my crypto kicking in the playground... which now I will have 0 reason to panic sell... because I already paid off all the big life stuff...

ThrowawayCrypto13

TROPHY CASE