When it hits harder in fiat

To say last week was a clusterfuck of a week for me is an understatement. Not sure I'd like to go into the details of that so I'd just gloss over it. Usually, when things are falling apart I like to try new things to try and reposition my attention and take my mind off things. This is when I decided to try out trading. It is not something I have passion for, but then I had it in mind in the past and I needed something to clear my head. I embarked on the journey of learning and after a couple of hours (almost 2 days) of learning, simulation, making paper trades and winning, and so on, I decided it was time to take my first trade.

I funded my trading account with a reasonable amount of money to start my adventure, I was already dreaming of the money I could make. I placed the trade and after a couple of hours, I walked out with a 20% profit. You needed to see the joy on my face at that moment. I had to hold myself and stop myself from placing another trade. I started setting the bar high. 20% per day was my goal.
The next day could not come any sooner.

On the next day, I was still outside when I did some shallow analysis and placed the trade. Decided I'd place it early so I could just get back home to profit. Checked it later and I was in a loss, but I was quite confident It'd still come back in my favour. Then I got to my room and I was so tired I just collapsed in my bed.

I woke up a couple of hours after remembering I forgot to put in a stop loss. It was too late, however, my trade had been liquidated. I just put down my phone and went back to bed.

Woke up, realized it wasn't a dream, and went about the rest of my day. I wasn't really sad, but I must admit it added to the shittiness of the week.

It was just today I decided to reanalyse the situation and I made the mistake of calculating the amount in fiat and that was when it stung a little. As a student, it could probably be enough to feed me for a month. I recall in the past when I lost some money (not even up to 10% of what I lost now) and I was much more pissed then than I am now.

This is not the first time I have noticed something like this. Whenever I calculate money in dollars I always see it as less than it actually is, but when I calculate it in naira it is then I see the real value. It is like a type of mental conditioning I think has been formed from being in the crypto space for a while now. This space is so volatile, money can grow or disappear in seconds, and I have seen it happen time and time again so it doesn't phase me as much, as for fiat however, over here it is very hard to earn money. If it weren't for web3 I can imagine how difficult it'd be. Some people work strenuous jobs for literal peanuts. This is why when I convert money to fiat I am a bit more conscious of how it leaves me.

Moments like this are ultimately learning experiences and though I dislike them I have to admit they're a part of life and I'll have to learn from them. These moments also make me appreciate being so early into the crypto space. There's a lot of opportunity and this is the best time to seize it.

THANKS FOR READING

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