Bitcoin Forum

I came across one channel on telegram known as "Crypto Confessions" and on this channel, one can find alot of real life confessions from real people in crypto, while I was scrolling and reading all the confessions, some very interesting, while alot of others; not so interesting, I came across this one above and it really captivated me, I tried to imagine what this dude must be feeling like if at all what he said was true.

St $80,000, he still didn't take profit, can we attribute or say the cause of his loss was due to him being too greedy, or being too patient, or over trusting or believing in the coin/token he bought?

BTW, for those that might want to join the channel, here - https://t.me/anonymous_crypto_confessions (https://t.me/anonymous_crypto_confessions)

nothing special here.
stay long enough in this space and what happened to him will probably also happen to you... unless you don't have $3k to start with.

This is one too many of such stories that I have read about. And each time I come across them, I just know that the traders had no strategy in place. If the individual had a clear financial goal and already made up his mind to take profit at a particular price this would have been avoided. Secondly had this person made use of stop loss and the other tools which is available in this trading, he would have been able to mitigate this significant loss that he experienced. It can happen to anyone who is without a trading strategy.

I dont really see anything too special here.  This dude put the last bit of money he had into some new memecoin.  Honestly a pretty risky move if you ask me.  Most of those things crash and burn right out the gate.  He definitely lucked out that this one actually took off.  but man, why didnt he sell some when he was up 10x? Or even 20x? To me, if you are literally investing your last couple grand, gotta take some profits.  But he got greedy I guess.  Wanted to squeeze every last bit out.  Cant be too surprised it came crashing down.  You win some you lose some when you play with fire.

A common greedy investor.

Don't be like him, there have been many opportunities that are coming to us and if you're not going to be as wise as you can be, you'd definitely lose a lot of money.

It's not about how much you make but how much you can keep based on the emotions that you're having at that time of profits.

When you are investing or trading, always know when to leave the market, you don’t have to be too greedy. How will you turn $3k into $80k and you won’t still take out your money? I know most people will think if they can leave it, it’s still going to increase, but that’s just greed, and I am sure the person will have learned.
 
We all know that investing in meme coins comes with a lot of risk, so after taking the risk and being able to make so much profit, just take away your profit and you can still leave your little capital there. Most meme coins are always going to dump after the hype that they get dies.
 
If you are investing in meme coins, always leave the market when the coin is still being hyped. Never expect anything special to come out of a meme project. Don’t be deceived by what the developers are saying; some of them are just setting traps for people.

It's all about greed and not knowing when to exit the market. Perhaps he thought that if her managed to turn $3,000 to $80,000... then he could as well make it to $1M. I have seen such similar confusion too on their Twitter channel, some traders even made more than $500K only to lose it due to greed.

Very many novice traders forget that what goes up must come down, especially with memecoins that have no long term use cases. When you learn to take profits and be satisfied of the small gains, you will have a lot of peace trading.

It could be anything. Could be that he's simply greedy, or could be that his personal price targets weren't hit, or those that you've mentioned.

Also, this Telegram channel seems to be a copy of Coinfessions, a huge Twitter page with the same niche: https://x.com/coinfessions


uh.. a trader that made a mistake? I don't think you can categorize him based on that post alone.

At least to me a person like that is not qualified to call himself a trader or an investor, so what is he? A desperate person that wants to turn his life around and make a fortune thanks to this market.

This person was experimenting a 27x growth on his investment and still refused to sell, that is a growth the majority of those that are part of this market will never experiment, and yet this was not enough for him and refused to sell, and now he has to live with a great deal of regret for the rest of his life, as I am sure 80k was an amount that could have helped him achieve part of his dreams.

It's not that the person cannot be considered a trader; see, from initial capital to 80k, meaning he is good and can do better in trading. That's why he has grown or increased his initial capital to a huge possible profit. But the thing is, greed comes in. We can call that trader a greedy trader that cannot be satisfied with a huge profit and wants more, which is the trap and mistake most traders make. Imagine from 80k down to 10k again, which means he stakes a huge amount in the next trade that it losses, and because of being desperate because he saw the 80k down to 10k, he still stakes or does trade with mixed emotion, or what we call rush trade, hoping that he could gain the exact amount again. It's normal for a trader to be greedy sometimes but also have consideration or control. If you see that the profit is enough, stop securing the profit first before engaging again.

I won't just conclude that it's greed. He may be inexperienced too. Or he just had a higher profit in mind.
For me I'll go with inexperienced, because an experience trader would know to take profit when he had the chance. He messed up, but that happens to a lot of people.
Using the whole 3k he had in the first place was a move that could make or break him and he got lucky with that, then he made another call when it got to $80k. He made a make or break decision. If the 80k has turned into $200k we would be having a different conversation right now.
Like the saying goes "the difference between a mad man and a genius is in the result".

In the volatile world of crypto, knowing when to take profits is just as crucial as picking the right investments. What do you think could have been done differently to avoid such a loss?

That's not an investor, that's a gambler. Gamblers take huge risks and they never know when to stop because they are addicted to the adrenaline (or dopamine) which they can only obtain by making risky bets. That's what you are looking at here. Investors don't take that much risk. They diversify their portfolios in various assets. Most of them are content with pretty conservative returns and that's usually not more than 10-12%/year. When you go above 15%/year it starts to get dangerously risky and it is usually not sustainable when it is above 20%/year.

So turning $3k into $80k was a huge success and he should have left it there. However, we know that he was never gonna do that because that's how he made that $80k in the first place. (by not quitting) If he was a quitter, he would have quit right after he made his 100%. In the end, that's just another gambler's story. From something small to some thing big, from something big to something, from something to nothing. End of the story.

If it is not greed, I don't see why someone will turn $3k to $80k in memecions and not sell off and take their profits. It is not Bitcoin; I don't think of holding any coins for a long time, whether I make a reasonable profit from it or not. So in this case, I don't think it is overly patient; it is not like being patient when you are holding memecions that someone does not know much about; it is not because the coins have been in existence for a long time that is the reason why we put trust in the coins.
 
Any MemeCoins project that immediately enters the market and the price is pumping anyhow, trust me, it will not stay long before they dump the coins. All this project that is getting much hype by continuing pumping of price coin just doing it to attract the intention of the people, and once they see they have gained a lot of investors, those developers will just remove their funds plus their reasonable profits they have made because some of these developers even take loans to develop some projects and their aim is to make profits, so we need to take very careful when investing in memecion projects.

We often encounter similar things from existing stories. but we don't know what they really think.
The first possibility is that they have high confidence in the future of the assets they hold. they think about how Bitcoin or Ethereum grows over time.

The second possibility is that they are just buying potential assets that are widely discussed in the community. they saw the tremendous hype and then entered. but unfortunately, they don't have enough planning in the investments they make. so it looks like great ambition or even greed.

This is an example of one of the psychological barriers that has to be overcome because plenty of times most of these things are caused by indecision. The difference between greed and patience is not so much and sometimes some people when they get greedy mistake it for patience while some see times when they should be patient as them getting greedy. These kind of experience are usually unforgettable and are the kind of experience that will remind you next time to always take profits when necessary and not be caught up in indecision.

He already got $80k and not sold? The profit is already the peak level but he must be the greediest and he thinks the profit will go more than 80k. well, he lost.

Whats with that STON.fi got to do with his SOLANA memecoin?  STON.fi is a TON defi platform. This is simply a wrong link to insert in that image.

You have given he perfect answer to this scenario, he was too greedy and wanted the coin to go more higher before he can take profit and that’s not how it’s done in crypto after investing in a meme coin that can just go up or down at any moment. He is not the first to do such but if I were in his position, I will take away all profits from that coin that I invested and leave the capital to take on the remaining ride. If I get to win more, I’ll still take partial profit and if it goes against me, I will have nothing to lose too. He was just too greedy and he lost everything, that’s the point on not being too greedy in crypto.

It gets into that as well if he's inexperienced, he cannot control his emotion and greediness and that's why it can still end up with a greedy mindset.

But we agree that he messed up really bad.

And he probably didn't became satisfied with that so he still proceeded and didn't secure profits.

OP, we must recognize that patience is the key to success and share decisions at a perfect time, no one knows what's good and what's bad, we cant say this is a perfect time but still in our calculations we should need to be aware of the real facts and figures.

Hmm, this is what he confessed let me let you tell one of the greatest bad luck in my own experience, it was the timeline of the last bull run I was new in the crypto market after a long bear turn, and the market was going to make its new All time high, I was positioned in a coin which was valued around 20$ only due high sell pressure on it after 3 months it started removing and value on that time 200$ on very next week 400$ and I was still holding, on 900$ I too 50% out and then on 1200$ total value of my holding all out, after a few months, haha it was worth around $53k but there was almost no liquidity still I don't regret my profit booking because I was a newbie. This is not a shped story haha I do recall it and feel good about it always.

The moral is you should put your full efforts on the ground reality but for the rest leave it to luck, it will be called gambling because in the market you cant speculate the tips of iceberg.

Maybe he is the only one who knows why he did not take the necessary action about this because I don't see anything special here, though it can be this thing you mentioned earlier, which is greed, or maybe he thinks it will bounce back to recover the small losses that happen before the losses reach $80,000, if not to me, if this was not taken due to a lack of knowledge, greed, or emotional control. then he outsmarted himself and landed himself in trouble.

Though I won't blame him, and he is the only one who knows why, if I'm not the one, I will withdraw my profit. I will leave the invested money in there if it continues to go higher than normal, and if it crashes, I will be happy because I have already withdrawn my profit.


Seriously, this is gambling, not the normal way of trading because the risk is too high, and he thinks he will make more than the money he just loses right here if and this coin is obviously a coin that will not last in pumping because this is a meme coin, and anyone who has the knowledge knows that investing in meme coin is just like gambling with your money, and I agreed that you said good investors take average risk and once it pumps small, they will take the profit and move on. unlike these newbie traders, who want to make money in a day or night, which is impossible.

I could be wrong but that is not a real trader/investor. If you are a smart person, you can't just let go of your hands, you will certainly take it.
IMHO, I don't believe such a story. Imagine it is more than a 100% increase, in fact, some people sell their coins even with just a small increase. If not greediness, I don't think this person is aware of the situation.

---

But to assume it was true, then I can say that this person lives in greediness. Contentment is not in his mind but instead, aiming for more. Many people suffer from this kind of mental disease and to find out that those people have never improved as they always missed the chance.

I see stories like that on an account on X and Imo, most of the stories are real. For the individual in question; I'd say yes, He was greedy. He could have taken 50-70% profit off the table and let the rest ride but instead choose to let it continue. I wouldn't blame him for his greed because it happens to the lot of us because there's two ways it could have gone:

• Take profit at $80K and it pumped to $800K or above 1M - regret
• Don't take profit and let it dump to breakeven or lower - regret.

Something I've learnt recently is that before entering a trade, we need to define how much profit or loss we'll be comfortable with so we can use that to keep ourselves in check if things get euphoric.

If there is a decline, what will happen is a psychological disorder, where panic selling will occur. For me, if I get a big profit like that, at least sell some of it, to protect our psychology if something undesirable happens. besides that, we also have to look at the market, if it has penetrated the new ath then it is possible that most of the coins will be sold

Greed, Impulsive emotion and lack of self control and contentment!

I've been on this kind of situation on which did earn $60k but i didnt intend to cash out until it goes down to $9000 until to $1k and almost zero to value. I have continued to held it off until it dies because i was hoping that it would really be making some recovery or comeback. On the time that im already at 60k then im thinking about 100k and even 200k and so forth, which does simply shows that you had made yourself that being too greedy and delusional. You do like on becoming rich with crypto and this is why you dont make yourself get contented or secure those profits until it would go back to zero.
That kind of experience would really be giving out that long term trauma or regrets on which this is something that will really be keeping on your mind and cant really be removed out for the rest of your life.

Yes, you can move on but you cant be able to forget such thing because this is something the worst situation that you might be able to experience for the rest of your life, specially if the amount we are talking is something that could already changed up your life or could be used up into something else or even build a house. You would really be certainly keeping on minding or flashing back on what if you had missed out
and on the time that you would really be thinking then you go depressed. This is why it would really be always important to take profits, you wont be rich because you dont know on how to take profits.
You would really be only doing such thing when you do see that the price is already at the bottom. In case of that person described or shown such situation then it do shows on how greedy human beings are.

He was a greedy trader or investor who couldn't see the situation. He had made a profit by seeing the huge profits, but he didn't sell it when he had already made a profit. Finally, the price dropped and he lost all his money.

It has happened to many people and maybe we have experienced it too. That is a lesson for all of us. When we see the profit coming, especially if it is a very large profit, we can immediately sell it and take the profit. We must not be greedy like him because that will prevent us from taking advantage of what we should be able to get.

Viewing from the Trading angle, i would say that guy was very greedy, mehnn you have done more than 10× your capital i.e (10RR), what stop you from taking profit. He was just a ship without compass, you risk everything which you weren't suppose to and gain but refused to take what are you....a fool (sorry to use it).
In trade, you will also understand when it goes against you and you close and re-position, he saw that the trade RR have dropped massively why not close with the $10k have done 3× of your money.
He learnt the hard way, there would be no next time for him to have wisdom and avoid greed.

Most likely it would really be greed and just like on what you had mentioned that due on being inexperienced then this is where these common impressions or emotions that price might be able to shoot up even more as you have seen that your portfolio did increase so much in a short period of time or the moment that you do least expect, and since you are someone who doesnt really know about that much  on how this market works or behaves then you would be holding up your position on which you would really be that believing that it would really be continuing such process or movement without considering the after risks of dumping.
If it turns out to shoot up even more then your lucky because pumping to the moon of a certain coin/token isnt something that a very common occurence. This is why it would really be that ideal that on the moment
that you've seen such condition then taking up profits would be always recommended.

Pretty sure that most traders did really experienced out such condition or moment on which they do get greedy on the moment with those shooting up to the moon scenario of the tokens that they had invested
which is mostly on meme coins or with those degens on which most people would really be that having to share up with the same reaction on the moment that they will really be experiencing such condition.
Well its not something that new because human beings are naturally greedy when it comes to money and on the moment that you are still lacking with that kind of experience then choices made or decisions
will really be that not much something a right call.

It's just someone who didn't learn anything from his past mistakes and there are almost everyone had that phase but this worse is really disturbing, imagine being in his shoes. :(

When you make hell lot of profit that you'd not happen again, then just cash out the profits or at least half of it then reinvest it into a different asset which doesn't necessarily to be a crypto, it can be anything that has a different risk/reward ration. Single point of failure will do nothing but exactly this.

That is a greedy investor op, because he want to use $3k to win $1m which will be difficult for investors to achieve from memecoins project, because it can pump higher today and dump lower tomorrow to cause their investors to loss so much from the investment.

Once the price hit $80k in the market, you don't need to continue hodling the memecoins than to sell to take profits from the market and prepare for another opportunity that will occur for you to buy again and hodl, but only a greedy investor can make such mistakes and regret from his mistakes.

I believe, the investor that made this mistake, has learned his lesson from crypto community already which he will not allow such greedy habit to occur again in the future.

Well, the guy is certainly a gambler and a greedy one.

We don't know if he actually did but that's a lesson that shall be learned the hard way. When you are able to make money in the crypto market, you don't let that happen pass you.
You're making a big mistake if you won't take profit, so use this thread as a reminder that this bull run should be your profiting time.

I don't even think that he is an investor, but more of a gambler. Because if he is an investor, then he should have done an analysis first and at what point he should take profit. But this guy was different, he was just trying his luck at memecoin with his last bit of money, and kept hoping that he would be able to make hundreds of thousands of dollars from it. If he was a true investor, then he should have understood that memecoin is very risky and before the price of the token fell, he should have taken the profit he could have made - but because he did not have the right picture and the right strategy, he just kept waiting until it went up and up and unfortunately he lost it all.

Very often, our failures are influenced by various factors, and not only greed or a basic desire to earn money, but also thoughtlessness or lack of time, with specific outside influences, which encourages us to make quick decisions that lead to losses. I believe many of us have been victims of fraudulent projects, at the same time, we considered ourselves very competent and trained in this area of ​​​​business. When you have a lot and want even more, then this is greed, but when you work to improve your financial situation, to provide for your family and your old age, then this is the same work and the same goals as a simple hard worker, only in the case of a trader and Investor activity has a high risk.

You know, if what you say is true, 80 000 dollars is a very depressing amount. You can buy a house and  lot, and a new car and have change. The only thing I saw in you according to your story is that you were very greedy. You probably thought that you would not lose that day, so you thought that you could get more for that amount.

At least 1/4 of the 80,000 dollars you would have taken out, and that is 20k, for at least you felt a win in what you did. Maybe the others here think what you did was a big stupid action. I myself regret it. But anyway, I hope you can learn from what happened to you. who knows that the next time you get it, it will be bigger, but opportunity is once in a life time, you should know what you are going to do first. That's why opportunity only comes once in our lives.

If we act in something, of course it is not wrong for us to expect high profit from it that day but it is wrong for us to think that we will get money overnight. Of course we will get money through Vinod but not in a hurry. Before investing, we must acquire enough knowledge about that investment. If we don't acquire enough knowledge about that investment, then we can never be one of the successful investors. So in terms of investment, we must have a long-term plan and check the market patiently. If you have to invest then maybe we will be one of the successful investors.

I've experienced something like this, why?

because I'm honest, too Greedy. Hoping that the profits will get higher and higher.
Then I let it go, once my eyes opened the next day, it really seemed like it had become rubbish. ha ha ha ha

This is a fact that happens very often. If I called myself at that time it would be as:
Greedy investors without a good understanding of crypto investing.

This is for me, I don't know if other people want to say that or not. but from all this, I personally learned from various experiences, that there is no advantage in being so greedy. especially in various hype coins. Never mind hype coins, Bitcoin is just like that. Sometimes it is very difficult for us not to e-profits, even if only partially when the prices  really have increased many times. However, I prefer to just leave it as it is. So, yes, you really have to be strict and clever in planning this investment, including targets, strategies and also risk and money management too. This is really important.

We should learn that memecoins are not that reliable and we shouldn't invest on much assets on them, also, whenever we invested, we should be more concerned about how we could sell immediately we have realized something from it because it's not such an investment wr can afford to hold for a long time, it's such a pity that even the $10 you would have been left with eventually went on rug pull together  with them.

I must say this is quite unbelievable for me also. You cannot just slip within your hands ignoring the chance to be of huge profits while the biggest opportunity is already in front of you. Even newbies in the market cannot just pass through this without selling, most especially that everyone here aims to make quick profits.

However, if this is actually a real life experience of a crypto investor, then it’s obvious that he enters into bitcoin without understanding how it works. Even if we say this man is highly greedy, by just selling the coins right away he will gain exceptional profits instantly, except if this story is not real and just created through a wild imagination.

Why didn't that person take a profit when his winnings were already too big, to be honest? It seems that during those times, what he does and thinks is not normal anymore because the gambler has been swallowed up by his greed.

For sure, because of that incident, that person was very stressed, which might even lead to depression, even if any of us here are in that situation. Right, if I look at the incident like a rug pull, do you think that it will increase further? suddenly bubbles burst and suddenly down to zero; and it was like a plane above, and suddenly the machine was damaged and it suddenly fell.

If he didn't got a good profit, then maybe there's wrong about his process of investing money on crypto. The chance isn't always profitable, but we have to think about self control when unexpected fluctuations happens. Increasing the quantity accumulation of a coin is guaranteed possible, however that needs to grow as it increase while you hold it discretely.

One funny thing about altcoins is the pump and dump, if a trader is lucky to make a profit of $77k that is if we remove the capital of $3k he started the trading with why not withdraw it knowing too well the risk that are associated with altcoins because just like same way they pump speedily that's same way they dump and one act about traders is that if they made a profit of that amount and later on they lost part of their profits instead of taking out the remaining profits they will still have the mindset that it will pump to that initial profit they had before and I have seen a lot of crypto traders lose a lot of money with this same mindset.

When we decide to invest in memecoin, we must understand well the development of the coin and if we have achieved the profit target that we have set, of course it would be better for us to take advantage of it, because everyone knows that memecoin will not last long and if We choose to keep holding it and we miss out on the profits that we have gained. Of course this will be very disappointing because we have missed out on the profits that we have obtained.

Every person who has planned to invest, of course, has had a plan before deciding to invest and to be able to get a profit from the investment we make, of course we have to do it correctly, such as analyzing market conditions well so that we know when to buy and resell assets. which we invest to be able to get a profit from the assets we have, when we decide to add coins we invest then we must first analyze well whether we will be able to get a bigger profit or not and if it is difficult to get a profit I think We don't have to add to the assets we will invest.

Most of the time People lose the opportunity to earn money due to their own mistakes and one of the major mistakes is that they prefer their greed and don't take their already higher worth profit. I think one should be Thankful for his profit no matter how little it is because if we enhance our desire then we will not be able to enjoy our profit.

One should avoid certain things if he wants to become a successful person because success does not mean that the more you earn then the more you will be successful but successful means that you are enjoying the amount wisely which you have earned. Sometimes we are in profit but we reject that profit because we want something better but we forget that something is better than nothing.

The decision to increase or decrease the amount of load depends on the funds, if the funds from profits are already there, just double it again or save some of it in the form of USDT, so when there is another decrease in the same coin we have the opportunity to get more.

If we do that over and over again like now, I think it's bad too. because the market is uncertain, still stagnant and the main positive movement in BTC has not yet happened. Only ETH is the current hype moment.

I disagree, turning 3k into 80k may seem to indicate that this person is a great trader just based on that capital growth, but you need to also take a look at the process, and it is obvious that on his own words he just took a gamble and hoped for the best.

So investing in the meme coin that gave him those positive results was just a matter of luck, and this can be demonstrated to be true as he lost everything soon after, something that would not have happened to someone that actually knew what he was doing.

That's the real problem that people face while investing into meme coins. First of all they're so unpredictable that you cannot say what will be their price tomorrow. When it comes to the investment then it is full of risks and uncertainties.

People often get the loss but in rare cases when they get the profit their greed kills the profit. They start to treat the meme coins as real useful altcoins. So you have to take the profits and get exit from the market.

You can not say they are real life confessions since the stories they can be made up stories that's the posted to entertain the followers of the channel. I do not believe everything that I read online, people can go extra miles to make their channels to be trending with stories like this. It could be the person running the channel that is posting all this stories too. The story line here is quite common because alot of traders are like the victim that do not take profits when they make profits but feel relax and end up with no profit. Cryptocurrency traders think that memecoins are reliable investment not knowing they are only there as meme, which will make no body to question what they do to their investors because they are a joke and we should not be leaving large sum of money in them, after they give profits do not forget to take it.

Pumps and dumps happens too in BTC but it was only more natural. Maybe the guy is only less knowledgeable to not know it? Indeed he is already lucky there to profit like that but he is also greedy and maybe he is waiting for more pumps but unfortunately it didn't happened anymore.

Many of us are also greedy but not to that point he is showing. $77k is already a huge profit out of his small capital and even not exactly $77k but only $10k or $20k return, that is still good already. There maybe lots of those you see but I believe they are like this guy who is also a newbie and once they gain enough experience, they can also change their approach.

I checked, but it didn't join. There is nothing special about the channel and it looks like most other channels to me.
I have restricted myself from joining telegram channels like that because if it is just for trading because what is offered in the group is about how to trade. For me, it doesn't help me that I can trade using my own techniques based on experience.
I'm not afraid of fraud, but rather just don't like it.

The "all-in" trader is someone who doesn't really know when to stop. Most of the time these people who have absolutely no understanding how any of this works, ends up losing their money from the get go, and that is why they have nothing that they could trust the system with, that is just how it works, they put all their money into something and they get rugged right away.

However, there are some who gets "lucky" and see it rise a lot, and the ones who get out usually share it everyone online, if this dude turned 3k into 80k and sold there, then we would have been able to say that he did something good, and that would have worked very well for him, and he would have suggested everyone to do the same, but because he waited too long, he has nothing left.

Heard of many such stories where traders without strategy losing it all due to sheer greed, expert traders will always use take profit and stop loss functionality and these new coins are pure pump and dump which we knows that will eventually end up as zero still people try experimenting just because some random user got lucky. Instead they need to work on strategy and shouldn't divert from it.

Sometimes, trusting the coin too much and waiting for too long to see its price skyrocket, might even put us into a huge loss. This is the reason why traders should set a goal price first when to sell before trading, regardless if the coins do still have the potentials to increase its price knowing trading outcomes can still be unpredictable. If only he prioritized taking his current profits first before thinking to trade more to get into more profits, then he should have trading in joy right now, not trading with greed that ends with regrets.

One of the main risks that you would be dealing up with meme coins on which its not really that recommended on holding it up for long term. If we do tend to look around on how many meme coins been launching every now and then, then you could really be able to say that it would really be ideal that you should really be taking up profits at the moment or time that you do able to make money or profits. Be contented on what you do able to earn because if you do tend to hold yourself with those meme coins on your portfolio then most of them would wither and die away. There's no way that to be able to predict on which one would live and pump into the moon and which one would really be kissing into the floor. There are really just that those kind of hopes deep inside on hitting up that nasty 100x.  ;D

One of the main things that you would really be able to have those kind of hopes or wishes in mind is to get rich with meme coins. Who doesnt want on getting rich?
One of the reasons on why people would really be holding tons of meme coins on their bags but of course there would really be always that accompanied risks
on which it is really that high or could be in equal on pure gamble.

Yeah this is typical for the type of pump and dump meme coins which are added daily on Solana. Depending on when you enter you can easily 10x and sometimes 100x your money. But the issue is that most of those tokens are rugs. Almost immediately as you enter it starts to drop and within minutes you can be out 50% and within hours your position can be -99%.

It’s a very risky way of making money. Tokens like WIF, SHIB and PEPE were extremely rare to catch and most that did catch those they probably sold way too early.

It is always the traders that do not have a trading strategy that goes on the internet to complain after they have lost their money, if a trader had a trading strategy that involves selling at an exit price, he would not be complaining because he would had sold some part of the profits and would not be in this situation that he is losing everything that he got from the trade. I do not consider this type of people as traders because they do not analyse the market but was only hoping on luck to help them. If he did some analysis, he would had known that it was not the perfect time to buy the token. People think trading is a joke and everyone doing it is just lucky and easy and this make many people to think they can be successful at trading but end up in the losing side when they start trading.

Experts or experienced traders will prioritize to take profits. While the newbies will always be greedy and then they're going to learn about it in a hard way.

They'd see how important it is to take a profit whenever they can. But if they're feeling regretful about looking at their gains thinking that there's gotta be more.

Soon, they'd feel bad about that and will think that it's better if they've taken profits than to watch the market pull down the value of their holdings.

This person must be new to the market. Because I can relate on this when I was still new, but not that huge amount  :D

For sure this person will become more hardworking to achieve this kind of profits again and not to do the same mistakes again. Lesson learned.

Greed won't bring us that far.

Whether it is with the crypto market, stocks, or even in forex. If you're too greedy, you're going to lose a lot. And that's why do not make the same mistake that you might happen to you too.

Be happy with how much you can potentially earn and stop being bothered with how little you have earned, as long as it is a profit, that must be fine.

Many things, including lack of experience, experience teaches many things, including not being greedy and how being patient.
On average, all traders have experienced this as I said because they lack experience so they don't know how cryptocurrency trading works which can change quickly, but if they have been in crypto trading for a long time it could be because they are greedy and keep hoping that the price will continue to rise or it could be so he followed a telegram group that kept saying that this coin would rise to a certain price and he believed it. Getting big profits in crypto is not an easy thing because not only how to predict the market but also how not to be influenced by information that can make us make wrong decisions.

Yes we cannot expect the profits we want from the market. The main thing in investing is to get rid of greed to get more. If we feel we have made enough profits, we should go out and enjoy the results or reinvest in assets with stronger fundamentals. I don't think it's right to treat meme coins as a truly useful asset, as we know, many people like to pump up prices like whales playing with these prices. In essence, whales won't play with this meme coin for long either. just looking at the opportunity of how he can get enough profit from there.

Yes, pumping and dumping also happens with bitcoin but many people deliberately do not accept this fact and they say that it is a volatile based on supply and demand. But there is a difference between bitcoin and altcoins which is that if bitcoin gets dumped, it will still recover after a while but that will not happen for many altcoins.

In my opinion, he is just ignorant and cannot control his greed. This happens often with newbies and I believe when we were newbies, we were just like them so there is nothing funny here. No one can be good immediately and have full experience right from the first days of entering the market, and losses, being scammed... are unavoidable.

Altcoins could really be considered out on two possible types on which to those projects or coins which does have actual utility or with those coins/tokens which are made up basically for meme
and this has been always the part now into this marketplace. This is why there are other people who are really that thriving out to deal up with altcoins or meme coins because they do know
that once they could be able to hit up the right one, they could potentially make themselves that rich if they had hit up the right spot but not all and this would really be needing up with
some extra luck for this one because when it comes to memes then it wont really be that much of suggested when it comes on hitting the right project.
This is where you would really be that always be considerate about the risks involved. It would really be a hit or miss then it would really be that depending on you.

people don't know what it costs to lose money so what will it take for you to sit down and learn, people just want free money and they don't want suffer and there is no free money and you have to work and you have to put in a lot of commitment.  because that is what will determine what your trading life will look like a lot of people are lazy and they want to make money from trading and am still wondering how that is going to be possible because you need to always be on alert and conscious of whatever is happening in the market. to avoid losing opportunities. and another thing is that people are actually greedy they want to make everything during the whole investing process of trading. and who invest in new coins because they will hype and then pump and the next thing will be that the coin will dump and you lose good money following hype is dangerous. and people have a big problem when someone gets lucky everyone will want to follow that part and that is why you see a lot of people losing money just because they feel they might also get lucky the same time. and you can not always use people's experience to judge your journey so being careful is one of the best experiences.

If we have entered the world of trading then we have to use planning, just like we are opening a real business, we aim for reasonable profits in a day and don't be too eager to take big profits because this is the beginning of greed. The most important thing is to be brave enough to take small losses rather than waiting for big profits but experiencing big losses. In my opinion, this technique is what traders should do.

Because the enemy in trading is actually thinking about getting rich quickly (Greedy), which can cover clear thinking in reading the market, causing traders to never be successful. In addition, there may be too many ways to mix it so you are confused when applying it. The points you convey are very interesting, always be grateful for the profits we get, controlling emotions is one way to avoid greed in trading.

Greed is a human nature, but if we use it creating negative motivation, that will also result in a negative way. It’s not wrong to be greedy, as long as you know how to control and limit your greed when you know it’s not right anymore.

Just like this certain trader, if he only sticks to his goals and be satisfied with small profits on hand, and not focus on greed, he will not end up losing all his future profits. But because he doesn’t have clear trading goals and plans how to achieve it, but instead fall on the traps of greed, he lost all his opportunities to make great profits, something that should serve him a lesson not to repeat the same mistake again the next time he’ll trade.

At some point, being an all-in trader is also a good thing because he has set a goal first and foremost to maximize his bitcoin earnings at all cost. And that he will do everything even becoming greedy. And that’s when he turns to greed, he won’t be contented with small profits anymore which is certainly a bad habit. That’s exactly how this trader has turned out, and maybe without no one in his side to advice him that he’s no longer in the right path and motivation, then he proceeded with his action not knowing that it will only lead him to future losses and regrets. One thing why being highly greedy is a big NO in trading or even in simply investing.

     Greediness is always an instrument, which is why there are always many traders who do not succeed in their trading careers. That's why, as much as possible, we should first find out how to be responsible traders. It's easy to be a trader, but it's not easy to have the true character of a trader.

     That's why others really took years before really understanding trading. Just like what happened to Op, he used greed, so the result was not good; in short, he was not happy with the trading he did. The time was wasted, and the win was wasted.

If a person feels happy for all the things he has then he will not be involved in greedy behaviour and he will accept the little profit too due to which one day he will be such a successful person that everyone will desire to be a person like that.

Greed cannot give you anything instead of becoming a cause of your non fulfilment therefore avoid greed and move with a clear mind and open mind to welcome the least but sure profit. If you neglect the minimum profit and wish to have more then you will be deprived of everything.

Traders who often see trading as a get rich quick would not settle into small profits, but would disregard it and look for even bigger profits. That’s how greed affects the mindset of traders, not realizing that it could even lead to more losses in the end. That’s why if you want to trade because of greed, just learn to avoid trading at all cost, in order to prevent your hard-earned money from inevitable losses and to protect your mental and emotional health state from depression.

Small profits once compounded turn into big profits. If you are a responsible trader, you should know about this. Otherwise, you are never trading, but gambling your trades.

If talking about altcoin investment, I have never opposed or hated it because I also invested in it and earned a lot of profit from it. But investing in altcoins is very risky, especially memes, so those who like risk and have knowledge should participate in altcoins, but if you are newbies, you should stay away.

Altcoins are all the same, I don't differentiate between junk projects and utility projects because there is also no guarantee that the top projects will survive in the long run. Investing in altcoins is short-term speculation and unlike long-term investments in bitcoin, once we make profits from them, we should take profits. Don't naively believe what they advertise and think we can invest long term in altcoins, it's very risky.

Whether it's altcoins or meme coins, like you said, it's the same that there is a real risk; it's just higher than meme coins. Especially recently, a lot of meme coins have really come out under the Sol network, and some have been exploited by hackers under the Sol network just last week.

Because the hacker probably saw that there are many obsessed communities that are taking the chance to get rich from the meme coins that they choose to use their investment, especially since recently there are a few meme coins under sol that have boomed in the market and have even been listed among the top exchanges only recently, that's why more caution is still needed for our communities in this field of the crypto industry.

To be honest, it's easy to say that. But when you get into the actual situation, you'll be having a lot of hard time for it.

Although there are many ways for us to control our greed. If you're trading for a very long time, you know how to control it already.

The most prone ones are the newbies when they're too happy looking at their gains but they didn't cashed it out, they'd feel depressed when they start to see the going down of their portfolios.

I assume that person is not greedy but just unaware of the current situation. With a lack of knowledge and market updates could possibly lose their chances to make a profit.

I assume that person is also a long-term investor and doesn't care about today's happenings but is certain about his/her goal a few years from now.
If I was right, this would tell us that the market volatility could give us a chance to earn big but sometimes also could miss it.

That is why I would say that we don't have to feel regret about whatever happens to our investment because we don't have control over the market trend.

Same stories to those traders who already gained profit but still dotn want to take their asset back because they are still hoping more than they are seeing in their wallet. One of the common mistake is the traders is being greedy imagine you can take home those gains and still hoping to get more, now the market crash and get honeypot you cant pull it out every seconds matter in trading if it's already hit a multiplier with your investment take it. That's the lesson in the memecoins or shitcoins it's not a long term investment seconds matter in their coins not like the top currencies.

Investing in altcoins, especially memes is very risky but as I said, speculating in them is not too bad if we are knowledgeable and willing to accept the risk.

I also invested a little in Bonk, Wif and bome quite early on, they are all memes of the Solana. Currently, they are giving me a decent profit and I haven't taken my profit yet, I bet many people will say it's too risky but I'm willing to take the risk to get a bigger reward. In addition, I only invest a small amount of capital in them, so if there are any problems, it won't affect my investment portfolio too much. Investing in memes is fun, but I honestly don't recommend anyone invest in it.

All altcoins aren't the same, we have altcoins that are contributing good things to the cryptocurrency market and we have those that are just here to make you lose money and if you keep buying them you might have nothing left. Memecoin are some altcoins that are just not worth buying but the layer 1 coins that help in bringing new utility to Blockchain as Ethereum and Solana are good altcoins that you can buy to hold for long term and you can make profits.

The type of trader or investors that we should be is that one that does his research before buying or trading any cryptocurrency. You can make money from any altcoins that you want to buy or trade but if you do not research on the project, you would not make profit unless you're lucky. Do not be the types of investors or trader that just buy anything that they see without researching.

We do have that differentiation and its not really that something hard for you to spot out on which one is considered to be a solid project and which one is shit or just simply saying about those meme coins.
If we do really tend to compare on how many coins that we do have in the market that circulats todays and to those which do come and go then we could really tell that there are tons.
This is why we should really be that wise on choosing on which coins that we are really that tending to hold for long term. Somehow, you cant really be able to blame out those people who would really be tending to take risks on dealing up with memes just because there's really that chance on making your life that way more better in terms of finances or making hundreds of thousands or even millions of $$$ but of course it would really be needing up that significant luck considering most of those shit coins or memes are really that easy come and go.

Just like others been saying that this would really be that a hit or miss for those who do tend to deal up with meme coins on which these are the coins/tokens that could
make that moonshot in a short period of time.

He's not a long term investor. He's a trader and made $3k to $80k and did nothing, he said that he didn't took profit.

Possible that he has waited for more to increase the potential profit that he's got but did nothing. Then he has made back to $10k and then lost it again.

A long term investor seeks profit not to seek nothing so I don't think he's not a long term investor, he's aware of the market but greed fed him.

If he is really telling the truth, then definitely I will say he is very greedy because knowing that he invested in a meme coin and anyone who knows trading knows that meme coin usually rises up very high then suddenly dumps to the lowest that you will ever think of, so I see no reason why you will like to keep your money when you know that you have gotten almost 27x of what you have already invested. Definitely, you have to know that you are lucky, so the solution will be to take your profit, but due to his greed, he wants to get 100x or 50x. I don't know, maybe that is why he left it.
 
But to be sincere, if it were me, I think no one will remove that profit as fast as I will because I have gotten a good profit. Even though I have potential on the meme coin, I will still remove it and then leave like $3000 worth of the coin.

     Until now, I am really thinking that of the 80,000 dollars, nothing was released—at least 1/4 of it—and around 20,000 dollars. I wish he had released 3,000 dollars separately. That is just one of the causes or effects of gambling addiction when the gambler is addicted and has greed.

     And if the story OP is telling is also true, you can also use terms that are not good for him because the system of greed has really swallowed OP. And I hope he was not depressed by that experience and that he overcame it.

I understand what you say, but I consider all altcoins the same because even top projects like ETH, BNB, SOL..can collapse at any time, there is no guarantee that they are projects that will be with us for a long time like bitcoin. Perhaps the most realistic example is Luna, an altcoin also in the top 10 and considered a potential altcoin but the results we all know. Among them maybe ETH will be the exception because as we all know ETH ETF has been approved but for the rest, I don't see any guarantees.

By the way, I do not believe in the promises of altcoin projects, I have not seen any that have been put into practical use and have specific use cases. Everything is still in the developing stage and has just stopped on paper. In short, for me, altcoins are more suitable for speculation than for long-term investments with them.

I can say you didn’t even read what Op wrote. The reason I said so is that we are not talking about gambling here. This is a discussion about trading, which is different from gambling, but some people who have less knowledge about it will think that it is the same as gambling, which is not.
 
Furthermore, Op is not the main person who witnessed the incident, he also read it. I think it will be good for him to share the story, which is why I say you didn’t read the topic but just decided to post. That is why it is always good to understand something before you post something related to it, but maybe I will say that you probably couldn’t convey the information well, which is why you wrote your post this way. All I will encourage is that when posting, try posting something relevant to the post to which you are replying.

Too much assumptions and greed will certainly end up in regrets. It has been shown and proven many times that this is not good in crypto and even in other forms of trading. That is why we should have to change this kind of strategy and adopt the best and working way of trading.
I would prefer to earn at least 3-5% every close trade rather than aiming for 101%.

A smart investor/trader knows what is best for them but that person pointed out by OP is a newbie to this. I think he/she needs some experience and trading advice or else, this will happen again and again.

I cannot say that he’s definitely into trading, but it’s more like he’s gambling and trying his best luck to win a jackpot. No good trader won’t ignore significant profits, and miss a big opportunity like this. Even if lets say he’s a newbie in trading, still looking at a huge gap from $30k to $80k and still not decide to sell, that’s actually unbelievable. Either this is just a made up story, or actually a trading scenario wherein a trader itself is not actually aware of what he’s doing.

I agree with you, these people don't really like trading and they treat trading like gambling and most people still ignore the profits they have made. I think this is caused by their mistakes in analyzing the market and also their greed regarding the trading they do, of course. This is very detrimental to themselves because it is not certain that they will be able to get even bigger profits if they decide not to take these profits and if this is just a made-up story, of course we can use this as a lesson so that we understand after getting the benefits. It would be better if we could use it to enjoy or reinvest.

Yes, greed can be a dangerous pitfall for traders, causing them to hold onto assets for too long, hoping for big gains, only to lose everything when the market crashes. When an investment reaches a multiplier, it is important to earn profit and secure gains rather than risk everything for more. This is especially important in the volatile world of meme-coins and shitcoins, where seconds matter and market fluctuations can be extreme. One should Prioritize risk management and timely decision-making rather than getting caught up in the lure of potential gains.

A right decision made at the right time always makes you confident and successful instead of thinking and waiting for more. The main reason for failure in trading is not estimating the right time of entering but not doing the right time of closing.

Pretty sure that all of us did really come into this kind of point on where we are really that hoping into holding into something because we do have hopes that it might be making some moonshot and make ourselves that rich and able to retire. All of those things and plans we do have in mind would really be able to happen if those coins that we are holding will really be making out such movement on which this is the main reason on why we would really be holding our positions because we do really wish that it would make it happen. There are really times or those things in the past that i have hold for more longer and missed out on taking up profits because i was hoping that it would increase even more but well thats life on which if you wont be taking up some risks then you cant make things happen.

Although it would really be something that you cant really be able to forget for the rest of your life because you are really that experiencing specially if its a big loss or
missed up opportunity.

I would rather attribute it to him being too greedy because he had only $3k! If you see $80k and not grab it, what then are you looking for? What opportunity would you appreciate. Another cause of this could be that he never really had a plan. I mean... He never had a target amount he wanted to take out the money. If I were him, I'll likely take the money out way before $80k because half bread is quite better than none (he has nothing now).

To be able to determine the right entry and closing time is not easy, we have to be able to know the buying and selling areas, and if our analysis is wrong, then there must be a plan B, therefore knowledge and experience in investing are needed. On the other hand, psychology must also be formed to be able to take action well, because greed is the main problem in failure, many of them actually experience panic selling.

Risk taking isn't all that bad, of course this person didn't know where to stop, but if he didn't then he would have never learned this lesson neither. Next time he does it, he will be aware of the situation, and if he ever reaches 80k, then he would be able to take out his money a bit. Imagine if he took out 3k when he doubled his money, maybe he wouldn't have 80k, maybe he would have 30 or 50, but then he would have his 3k back, and go do it somewhere else.

I keep telling people the same thing, take out your money when it doubles. But I applaud this person, he did something quite nice, and I believe that the best thing to do in this case would be just realizing that you are going to lose, as long as you learn from it, losing is fine.

Talking about a half, if I were in that position, I would at least sell half of the assets, take $40k, and then leave the remaining just in case the profits increase with the market, but it's not wise to not take any profit at all because you should expect both positive and negative outcomes from a volatile market since volatility can go either side.

Some people often say that one should never sell their assets and keep holding but I don't agree with that. I believe you should keep taking profit from time to time so that you don't miss good opportunities, it's just like buying using the DCA method where you don't want to miss any buying opportunities.

So it's always better if a person does what's best based on the conditions.

You can’t just say it like that because you don’t know what the peak amount will be, so if you’re saying $80k that means that you’re saying it because you know that was how high it got. Instead you should start by telling the target price you’d have sold at (just to be safe and avoid losing all gains because you don’t know if a dump would come next). Because really, this investor didn’t know $80k would come and must have hoped for even a way lower amount or price.

That is what greedy can cause to those that have it in their holding, because they will like to use the small capital to achieve huge amount of income at once, which is a big risk some holders are involving themselves and it can make investors to regret in the future. Once you discover that there is an increase in that memecoins you are holding at the moment, you can trade to make income and wait for another opportunity to come before you can invest, because another bullish season will still come in a bigger way which it will double your income. I think, greedy investors has reduced in the community because some investors have learned lesson from those that shared their mistakes on how they lose huge amount of funds in the market because of greed.

Investment and trading should not be combined in one thought when someone wants to carry out these things at the same time because the focus of investment will never be the same as a person's focus on trading. Especially if that person really likes daily profits through trading, even though it's only a little, he can still enjoy it, even if he can make a profit. But if you lose, this is where someone needs to learn that apart from having risks, those who do it must also have patience and more established scientific techniques so that their mentality is not immediately disturbed by the losses that befall them.

The first thing that must be addressed is our mindset towards the crypto space, especially investing and trading. These two things are different, so we cannot use our techniques when investing and then use them for trading, and also we cannot use our techniques when trading for investment. Maybe the outline will be the same, but we are talking about something more specific.
Apart from that, we also have to know ourselves, whether we tend to be better at investing or trading. Sometimes we forget that, yes we forget to know ourselves. Even though this is something very important that should have been realized from the start.

Whether he had a plan or not, and the fact that he bought a memecoin with all of his money - the last of his savings - should be telling that he will lose everything sooner or later.

¯\_(ツ)_/¯

It was definitely better for a person like him to simply buy the Bitcoin DIP, and HODL everything in cold storage. His capital won't be in a fast surge to $80,000, but it won't be ZERO.

OMG, that's a big loss, who would not have booked the profit, if I were in his/her place I would definitely book it if I had the chance. As only in one condition one might not take profit, is that either the $80k or $3k is not enough for the person so he did not care about it. But if he shared his story in such a confession telegram it definitely means he regrets not booking it.

So I would say $80k is enough for him but he was a little or too greedy. I hope he will be in a good situation right now as he said its either all in or all out. BTW which platform he must use that rug pulled and he lost the $10k also? Overall, we should ourselves from such actions, and to those who after reading this post gets the idea that they can also convert there feew bucks into thousands should avoid it. Its not 100% or even %50 sure.

This happens to a lot of newbie traders. The fundamentals rule is to TAKE PROFITS. I hope he learns though ahah

This is the problem that many believes when they trade, they are making the right investment when in fact its not.
If you are a trader that only means you want to move a little faster while investing takes time to make profit, DCA investing are considered investment. With this case, winning that big was a big opportunity already unfortunately, that trader becomes greedy and fell on the trap of his emotion, and forget to set-up his target. If you have that kind of profit already, always make sure to have your back-up plan and avoid becoming greedy and too emotional.

Yes, he used his last savings, but he got very lucky from taking that risk, going all the way from such an amount to $80k is crazy. And despite the luck, he still skipped the part of taking profit. Even taking profit that is the same amount as what you initially invested is the least you can do, so you know that you’re playing with money you’ve made as gains. And again, like you say, it’s a meme coin. He took the risk and he got lucky, no one is supposed to remind him that it’s a meme coin. You take profit once you see it. Everything that goes up comes down at some point.

The probability of being greed made his loss huge amount of money, and I don't believe there's rug pull on this situation. That's the scenario of market fluctuations, most experienced traders encountered this kind of situation, they never complained of an error. Our emotions is the usual cause of the outcomes and results of every trading decisions we had.

There was no luck, good or bad, there was merely GAMBLING. Plus how could you say something like "he got very lucky" like it was with a presumption that his/her profit was already his/hers? Paper-profits are never yours unless you execute the action to either send the actual Bitcoins to your own wallet, or convert them to fiat and have them sent to your actual bank account.

Greed for me is the action of a trader or investor who does not actually use planning in determining the trades made. If the trade has been planned well, then what will be the final result is how obedient the trader is in following the plan that was actually made by himself.
trading without a plan is like relying on luck. So the results of course depend on your luck. because being unable to make decisions is something bad for a trader. We all have to be able to determine which situations we should enter and when we should exit. stop trading without a plan, it will just burn money.

Firstly, I said he was lucky because indeed he was. Who invests $3k and gets $80k? Or are you saying that he took the risk and it isn’t luck? Well, the way I look at it in this context, the $3k could have gone to $0 but the market was in his favour. That’s what I mean by lucky. Secondly, Money is money. If you’re eating until it is in your bank account before you call it money then tell me what cryptoCURRENCY is all about. When you have $80k even in meme coins, it is money. It’s your choice to withdraw it or not.

The point is, paper-profits are not real money. It's not yours until the trade is actually closed and the coins are sent to your own wallet, AND under your control for safe-keeping. THEN we could say that he/she was lucky. But being given the opportunity to close the trade with a $77,000 profit, BUT didn't and continued with the trade until he/she lost everything is not luck. It's stupidity.

In my opinion, his mistake here is that he didn't take profit. As an investor, you should define your target and take profit all the way along.

That's right, when someone trades without any planning, of course they just hope for luck in what they do and it is very likely that they will experience losses in the trade. When someone has a plan for trading, of course they must be able to carry it out well. and also when they have achieved the target profit, it would be better for them to immediately take the profit or go back to analyzing the market to see whether they still have the potential to get bigger profits or not and if they don't have the potential for profit, of course we have to take the profit and don't let it happen. greedy by forcing ourselves to hold back in the hope of getting a profit even though from the results of the analysis we have done it is clear that it is difficult to get a bigger profit than what we have got.