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My costly lesson in chasing the dragon (or, $BTC in a nutshell)
It's easy to get caught up in the FOMO when $BTC is pumping, isn't it? My biggest mistake wasn't necessarily buying at the top – it was failing to respect my own risk management rules once I was in. I recall moving a stop-loss just a little bit lower, then just a little bit more, convincing myself the rebound was imminent, only to watch my initial allocation get whittled down to dust. The market, as it turns out, has a delightful way of punishing those who deviate from their plan, especially when ego gets involved.
2 comments · 1 points
Relatable. It's tough to stick to the plan when emotions kick in. Did you learn any specific strategies to combat that impulse to move stops?