I have noticed this behaviour amongst beginner traders, in any bull market period you can make plenty money without being knowledgeable about trading, the hard part is once this period ends and you continue trading, you'll start losing.
..and I am not sure under which category this behaviour falls in. Is it impatience, greed or fomo?
It is the inability to accept reality.
I trade kind of but I have a five part plan of trade.
pretend I have 100,000 usd to work with along with 30,000 in mining gear. grand total of 130,000
33,000 in cash on the side lines
33,000 in btc on the side lines
34,000 is the working amount. that is at risk
along with 30,000 in mining gear.
take 10,000 of the 34,000 working mount as cash
set up a buy ladder down
89.1
87.1
85.1
83.1
81.1
79.1
all the way to
42.1 in $200 dollar steps
keep 14,000 in btc as your mining hodl and when coins are 90 to 110k stack stack stack stack stack and hodl that pile.
set up a sell ladder up.
111k
113k
115k
117k
119k
121k
all the way to
161k in 200$ steps.
what are your risks
well the exchange could be robbed I use coins the the cash on coinbase is insured but you could lose the coins around 17k in coins maybe 14k
the miner host could burn down and you could lose 30k in gear.
so of the 130,000 in value dedicated to crypto on any day you could lose maybe 45k.
other risk a super crash could devalue your coins maybe 50k
but the example above that entire 130k is all profit and it in the event of a super worst case drops to 33k in sidelines cash plus a cash claim on coinbase of maybe 17k
so the works case it the 130k becomes 50k. it is still all profit.
Sideways in the 90-110 slot works best as you grow your stack.
and the pair of aces in the hole are selling stuff on ebay along with posting here and bitcointalk to earn more.
My biggest danger is to go off track and over expand the mining which exposes me to my host going bad.