RE: Managing Expectations when trading SBD for STEEM
Wow man, this is an excellent post. There was a lot going on with that first chart lol, but when you cleared away all the indicators and told the story it all made sense.
I bought upwards to 1000 STEEM in the days before the collapse . . and after, I did feel a bit heartbroken. But after pondering for awhile, I came to the same conclusion you did. These volatile price swings are going to happen. This is crypto. But I believe in the longevity of the platform, and a year from now that will be a funny anecdote. "Remember the time I bought a bunch of STEEM before the market tanked and I was freaking out . . but now STEEM is 5 bucks"
Something like that haha
"after a decent pullback, we're likely to see at least a secondary thrust lower to at best test the recent lows"
Absolutely. This is typical. Thanks for keeping things in perspective and taking the emotion out of it. Emotions and trading do not mix.
thanks @shawnfishbit for the kind words. Sorry to hear you also bought a chunk just before the break down. I'm glad, however, that you found some solace in what I wrote. Happens to all of us at some point or another, and if it hasn't happened yet, you probably really haven't been trading for all that long!
BTW, I also added an extra tidbit you may find interesting as well (just above the "FINALLY..." segment), regarding the current valuations of FaceBook and SNAP.
just wanted to add this link for everyone who see this post, as @knircky wrote an excellent article that goes much deeper than my short bit towards the end of this post. He compares the valuations of STEEMIT, Facebook, twitter, etc versus active monthly users:
And remember, STEEM / SP holders collectively own the platform in this case. If STEEMIT can achieve just a small fraction of these valuations... well, here's the link for you all to evaluate for yourselves:
Link: The value of Steem and its users: 1 Steem user = 10 Facebook users!