Crypto,  Trading Journal

Trading Journal #3

Made a bad trade yesterday.

Saw a coin come across twitter called $BORA.

Supposedly, the name of the “dog wife hat” dog was Bora, and that’s why the coin was created.

I figured the coin would really pump just based on $WIF hype, so I aped in after checking it out on Rug Check and Bird Eye.

The coin was already at $4 Million market cap, so I figured to get any kind of decent dollar amount in profits I’d need to put in $2K, so that’s what I did.

The coin went up to around $5 Mil… and then just absolutely tanked, never to return.

I made some serious mistakes here.

First off, I FOMO’d in. After missing a handful of serious movers later, I was eager to catch one.

On top of that, I missed the run on a few coins (including wif) because I had sold them too early.

I let that cloud my judgement and just bag held instead of cutting the loser early.

Another thing I failed to take into account was overall market conditions.

Everything has been bleeding off. We’re not in the up only, send all Solana coins environment that we were experiencing just a few weeks ago, and I should have factored that in more.

End of the day, I lost $1700 on a retarded fucking play.

No sense dwelling on it though.

I’ve lost and made more money than I’d like to admit, so I’ll definitely get things turned around.

Action plan is to go back to smaller position sizes and not buying coins past $2 mil, preferably under $1 mil.

That’s it for this one.

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