From losing 500k in contracts back in 2021 to now, I've been dollar-cost averaging BTC and BNB for 30 years - my real journey in the crypto world over the last 5 years.
🤡 When I first jumped into the crypto scene in 2021, I was all about those contracts and altcoins, riding the waves like a pro. I thought I was a genius, going all-in with 100x leverage, following the 'teachers' in the group, and sure, I made some profit at first, but in the end, I lost a whopping 500k.
Yep, 500k.
During that time, I was completely obsessed, glued to the charts every day, getting hyped when I saw messages like "it's about to moon" in the group, and when I lost, I just told myself, "I'll definitely make it back next time." Looking back now, it’s pretty laughable, but I was really caught up in it.
The turning point came in 2023. That day, I liquidated all my positions and realized that not only was I not in the green, but I also racked up a ton of fees. I had one thought: I’m done with this.
But you know how it goes, right? Losing money makes you reluctant to fully exit the game. So, I gradually started digging into the fundamentals, and began dollar-cost averaging into BTC and BNB. It wasn't because I suddenly got smarter; it was because the market schooled me, and I learned my limits.
Now my strategy is super simple: 30 years of dollar-cost averaging, buying a bit each month, not watching the charts, not trading contracts, and steering clear of altcoins. I might be a bit scarred from getting wrecked, but now I only believe in time.
Recently, the market's been choppy, and the funding rates in the contracts market are negative: BTC -0.000044%, ETH -0.00032%. But I couldn't care less; to me, it's just numbers. When my dollar-cost averaging day rolls around each month, I buy and go about my business.
I know there are folks who’ll say, "What’s there to document?" or "What’s so great about dollar-cost averaging?" But for someone who’s lost 500k, just being able to invest steadily is a win in itself.
How about you guys? Still trading contracts? Or have you made it to solid ground?
🤡 When I first jumped into the crypto scene in 2021, I was all about those contracts and altcoins, riding the waves like a pro. I thought I was a genius, going all-in with 100x leverage, following the 'teachers' in the group, and sure, I made some profit at first, but in the end, I lost a whopping 500k.
Yep, 500k.
During that time, I was completely obsessed, glued to the charts every day, getting hyped when I saw messages like "it's about to moon" in the group, and when I lost, I just told myself, "I'll definitely make it back next time." Looking back now, it’s pretty laughable, but I was really caught up in it.
The turning point came in 2023. That day, I liquidated all my positions and realized that not only was I not in the green, but I also racked up a ton of fees. I had one thought: I’m done with this.
But you know how it goes, right? Losing money makes you reluctant to fully exit the game. So, I gradually started digging into the fundamentals, and began dollar-cost averaging into BTC and BNB. It wasn't because I suddenly got smarter; it was because the market schooled me, and I learned my limits.
Now my strategy is super simple: 30 years of dollar-cost averaging, buying a bit each month, not watching the charts, not trading contracts, and steering clear of altcoins. I might be a bit scarred from getting wrecked, but now I only believe in time.
Recently, the market's been choppy, and the funding rates in the contracts market are negative: BTC -0.000044%, ETH -0.00032%. But I couldn't care less; to me, it's just numbers. When my dollar-cost averaging day rolls around each month, I buy and go about my business.
I know there are folks who’ll say, "What’s there to document?" or "What’s so great about dollar-cost averaging?" But for someone who’s lost 500k, just being able to invest steadily is a win in itself.
How about you guys? Still trading contracts? Or have you made it to solid ground?