Don't get emotional in this game!

Story time

Quite some years ago a huge gamer was born it was me. Now when we speed up the time a bit and when I got into the crypto space as a gamer and I saw the coin BCY (Bitcrystals) I was sold when I read about what it does. You have to know that I was new to the whole crypto game and I bought BCY at the top because I thought it was an amazing idea to connect gamers with blockchain technology. It's basically this simple phone game, but still it was a game associated with blockchain technology so I wanted to jump all in on that. The game is called Spells of Genesis, you can check it out for yourself it's on the playstore now a days.

Almost lost my bitcoins

So as I stated above I bought the top of BCY and I had no clue about technical analysis or any of that. I purely bought based on my emotions that I would love to see the gaming industry combined with the crypto space. What happened is that when I bought around the 70K sats mark and I went to sleep, next morning I wake up and see that I already lost about 30% of my bitcoin. I was thinking to myself that it would be going back up because I had no clue about market structure and that it simply had to retrace after such a massive run up. What I am going to say now is something you shouldn't normally do, however since I was already in a massive loss anyhow what I did was I bought more BCY at prices of 10-15K sats in order to sell when I was in profit at about 30K sats.

I learned from my mistake!

Now a days when I trade I always use stops in order to lock in profit and to stay break even, I only buy dips and therefore it nearly always goes up a bit to put my stop at break even. Now does it stop me out sometimes at break even yes it does, but I am okay with that. At least that way I don't lose any bitcoin. when it breaks out and moves up higher I move my stop up to the previous support for a stop in profit.

Stops are your friend and your enemy at the same time.