Well in regards to my last post, I made a couple trades with litecoin.
I learned a pretty valuable lesson with the second of those trades. I knew litecion would reach the .015 litoshi limit, but I thought it would get there much sooner than it did.
It made the spike in between trades, but then shot back down to the .0142 area and held there nearly all day. Having access to my trading today ment I was holding out far too long as I could have made the same profits I was looking for in a shorter time with other trades. but everything was tied up in LTC.
I thought about it, I really considered selling out, losing a bit and going for those other shots hoping to make a profit after the LTC loss. I believe this was a critical moment for me in the day trading world. Having two options, I finally decided to take my profits down on LTC just a tad in hopes the trade would clear sooner.
20 minutes later, BOOM! LTC reaches above .0152 and I was holding out for JUST UNDER that before taking it down to .015. FML. I had confidence, I had trust, but what I didn't have was patience. Just a little more, I am always told, just a little more and you'll get there. Well I didn't, I backed down. I let the system beat me out of a few thousand litoshi.
No big deal in the scheme of things but this brings up an old story I remember hearing about a gold miner from New York.(?)
Story goes, he hit a jackpot out prospecting and doing small mining operations in an area. Once he found out, he sold everything back home, his land, his home, his farming equipment. His family members did the same to buy equipment for mining and processing gold. After a few years his mine ran dry. He decided to sell everything to avoid a complete loss and to pay off his loans.
A while later a new gold man came by through the old mine. He decided to have a professional check it out for him and the prospector told him that he should be sitting right on top of the gold. Unfazed by the stories of the previous owner of the mine, he set up shop right there. Three feet down that man discovered one of the largest gold mines in the U.S. Only three more feet and the original owner would have been a millionaire with all his loans paid off and the largest amount of gold ever found at that time.
Don't give up guys. If you have those three things, the confidence, trust and patience, you may be only a few feet away from what you've been searching for this whole time.