Hey guys, just wanted to share a quick story about how deviating from your investing plans because of emotion or greed can cause you to lose money.
So watch the video if you want the whole story but in a nutshell, my long term plan was to accumulate a bunch of Bitcoin and hold for the long haul. Maybe pick up a little extra to swing trade with or margin trade with.
Anyhow, after sticking with this plan for several years, and being pretty spot on with my predictions and moves I was making, I deviated from my plan after seeing Bitcoin swinging from $1200 down to $900, then back up to $1100, then back down to $800.
I got greedy and wanted to profit from the volatility and decided to sell a good chunk of my coins at the peak and had planned to buy back in on another dip which I was sure was going to happen within a week or two.
Now this is something to date I hadn't done because I just knew the one time I got greedy and did this Bitcoin would go to the moon and we'd never come back down. That's basically exactly what happenned this time.
I'm still sitting on a few thousand in Bitcoin, have diversified a bit into Ethereum and Litecoin as well but still kicking myself over selling off any Bitcoins, let alone how much I did.
If you wanna hit me with some Bitcoin send it here...