Embracing Loss: A Trading Manifesto

This morning hit me with a lightbulb moment. After years of chasing that elusive big win, I’ve realized it’s way more thrilling to embrace being broke. They say trading is a surefire path to poverty, so I must be doing something right. My new goal is to lose as much cash trading as I can! I’ve already started digging up the crappiest coins that nobody even remembers (hello, Namecoin). But wait, there’s more! Next, I’m on a mission to uncover the most ridiculous pump and dump scheme out there, and I’ll jump in when the price is at its craziest in this post-2017 crypto world. And just to clarify, I’m not sticking to just one project. Nope! The more I spread my bets, the better my chances, right? While I hunt for these scams that deserve a Nobel Prize, I’m also shorting Bitcoin like there’s no tomorrow. I’m holding onto those BTC shorts as long as I can, fully embracing my broke status history’s taught us that holding onto Bitcoin is a guaranteed way to lose in the long run! I’m committed to my journey, and I know I’m not alone the vast majority of traders (97%) are right there with me! Are we living in a democratic world or what!

But come on, we all remember namecoin, and nobody seriously thought it was gonna go up. Why not get something people truly thought they believed in but will only go down and down. Like Litecoin I honestly, even only holding BTC actually said I still thought ETH and LTC were at least gonna last 'forever'. 97% of traders? I think even less if we count beyond 10 years

I think dogecoin will still have a place in the upside especially when BTC begins a steady rise and the war in Iran begins to get less of US attention. Because Elon musk might be busy now in trying to support with the tech side and maybe in the future he will have his usual hype in doge. But I believe btc is still the better crypto investment, shitcoin can end you up in worry if you don't understand it is just for dump and it rise may not come.

But why has litecoin been really sluggish. Its all time high is over $400 but it barely got to $150 in the last bull run. Let us see what will happen in the next bull market. Another coin that I thought would really increase was polygon but it also disappointed me and now falling more than I am expecting. I hope these coins will pump it the next bull run. As for the OP, just be careful of altcoins.

I think litecoin is not the only one affected in this manner, there are many orders that are currently far away from their last all time high and we may take the only excuse to be the fact that we have not yet a matched into the altcoin season, whereby majority of them will still have the ability of displaying what they are capable of, so it's all about holding the more and waiting to see how they could perform in the coming bull run for the altcoins.

You are getting it wrong, altseason does not mean many old coins will get to all time high. Most altcoins once they are old, they will not get to all time high as investors shift their focus on other coins, just few of them will get to all-time high. There was altseason in the last cycle, but people did not call it altseason because bitcoin marketcap remained above 60%. Ethereum that always take part of the marketcap during altseason did not increase as expected. At least ethereum was unable to get to $10000 that people predicted. It did not even go above $5000. The person I quoted mentioned ethereum and litecoin, which I saw as good coins, but litecoin disappointed people. It is not just one of the altcoins that people count as shit coins. There was a time that old altcoins pumped, ethereum also increased at the time, followed by the privacy coins. Litcoin did not increase very well at the time but later fell to $50 where it was rising from initially.

You are free to do whatever you want and yes this is still democratic as long as you are losing your money. There are even faster ways for you to lose money which can make you more money if you are unlucky, why not try gambling that is way faster way to lose your money than trading, instead of trying to find the hidden gems why not take the risk like a man.

That's just how life is, and it's inevitable; there would be a lot of dead coins in the long run, and some of the coins are just not worth anything anymore. I'm definitely one of those people who have experienced losses, and one thing I wish I had done better is risk management and how much I'm trading. If I had paid more attention, my trading portfolio could've been better. Its long-term survival is what matters.

It all happened (to me) after the creator Lee got too much involved. He was saying all kinda things at $400 ATH and then IIRC he did some naughty things and got partially blamed when it fell much more than expected, then promised he was gonna stick around to make sure there's another ATH and then everyone moved on. L2 coins were always the biggest scams to me, and now they're proving it So many of us lost Bitcoin trying to get in early, I learn all my lessons well, now for me just BTC. Even ETH and LTC, I was wrong I can admit that.

Sorry to hijack but since we were on topic, I want to add that indeed LTC was not seen as a shit coin. It was genuinely used a lot by the same users who used BTC. And it was always known as a testing ground for BTC upgrades (because it was similar structure and had a lot of users). That feeling doesn't exist anymore now. And yeah, there was no altseason, at least not when you compare to what we say in the past 2 cycles. Flippening, which made ETH the most raved about coin, but once these heavyduty alts stopped making new ATHs, it was clear that Bitcoin was a different beast, and the only beast there to stay.

TBH, this looks like ranting, except the Bitcoin long-term shorting part that's clear enough. If you know you could be impoverished as the so-called experts say, why still trading? Do you want to be poor? Or you are conducting some experiments on this? That part is still not clear to me. As for the shitcoins you are dealing with, I only hope they don't shit on you. They could be dangerous than you think.

This year has been messy for me alread in trading, I have funded three times and got busted due to greed or just wrong prediction. I'm only focused on just two pairs which are Bitcoin and XRP, I don't trade any of the regular shitcoins because there were times when I thought it will make me profitable since it's very volatile but I lost everything back then, if you are looking to trade altcoins, just be careful and I'd say you should only trade on a few pairs.