cryptoguy9813 (OP)
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February 27, 2018, 05:23:31 PM |
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So I basically got fomoed. Towards the end of 2017 I saw how high bitcoin skyrocketed and decided to invest in ripple as a test. Less than one week it went up 3x. This made me more ballsy and I put in 11k total in various other alt coins like ripple, ethos, tron, and cardano. After the crash I lost about half of my value just like that. I am frustrated with the experience and wish I would have just put in 1k or something. I wish I could just not invested and went into what I was doing earlier which was just investing the boring and traditional way. Should I wait and hodl or pull out and do something else?
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cryptamod
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February 27, 2018, 05:27:57 PM |
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First FOMO is a common mistake of the new folks in our community,second you made a common mistake,third you shouldnt blame yourself because most of the people here have done that,fourth you should know how to effectively pick good altcoins with these bunch of shitty coins out there,lastly do a lot of research before investing to any coin because investing blindly is worst than donating your money to charity because 95% of the coins in the market are shitcoins,spending a lot of time doing research could have saved you.
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arditiyan
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February 27, 2018, 05:30:18 PM |
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it seems that you are not alone in facing this situation, I am too, even my friend is worse, this is the risk of cryptocurrency, but believe me, just hold, you will get the value back, keep the spirit
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salterious
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The revolutionary Export system/One-click Export
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February 27, 2018, 05:31:10 PM |
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I myself have made similar mistakes of FOMO and it just seems like everyone does, like it is an oath to becoming a good trader. So you have made the cardinal mistake of FOMOing (dw we all have) now you are in a spot of hodl or sell I would hodl myself because I don't like selling at losses. Also you have to look at whether those coins or not have a chance of getting out of the red and as far as I know those are okay coins and you should be able to creep out of losses. Lastly, know that I am still bag holding a couple of alts from last year some of which I have had for 10 months now (and don't know when I can get rid of but will wait it out).
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cryptoguy9813 (OP)
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Activity: 6
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February 27, 2018, 05:33:07 PM |
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I myself have made similar mistakes of FOMO and it just seems like everyone does, like it is an oath to becoming a good trader. So you have made the cardinal mistake of FOMOing (dw we all have) now you are in a spot of hodl or sell I would hodl myself because I don't like selling at losses. Also you have to look at whether those coins or not have a chance of getting out of the red and as far as I know those are okay coins and you should be able to creep out of losses. Lastly, know that I am still bag holding a couple of alts from last year some of which I have had for 10 months now (and don't know when I can get rid of but will wait it out).
I should have just went with bitcoin or ethereum. Cause if they go up then the other alt coins go up. They are the leaders of the pack it seems like. I will hodl since I don't want to sell at a loss. But you think they will go back up by the end of the year? |
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tora
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February 27, 2018, 05:41:35 PM |
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I would not suggest you sell. At the moment you have a paper loss but if you sell you will realise that loss. Is it possible to change into other coins that may increase faster and above the price you paid? If you believe they will not drop further then if you do not exchange it is probably best to hold for recovery. Many investors in stocks would buy more after a crash to lower the average price paid so recovery price would not be so high. Only for the brave though.
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styca
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February 27, 2018, 05:46:14 PM |
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So I basically got fomoed. Towards the end of 2017 I saw how high bitcoin skyrocketed and decided to invest in ripple as a test. Less than one week it went up 3x. This made me more ballsy and I put in 11k total in various other alt coins like ripple, ethos, tron, and cardano. After the crash I lost about half of my value just like that. I am frustrated with the experience and wish I would have just put in 1k or something. I wish I could just not invested and went into what I was doing earlier which was just investing the boring and traditional way. Should I wait and hodl or pull out and do something else?
You bought in at a high, so have some immediate losses. But the market has plenty of highs and lows and the trend is strongly upwards. The thing you absolutely shouldn't do is cut your losses. Just keep calm, look at the longer trend charts and have faith that the prices will go much higher than you bought in at. If you feel comfortable trading, that can be lucrative and a way to increase your coins. Otherwise just hold. We have all been through it, and there are plenty more highs and lows to come. |
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TwisterPipister
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UNCLOAK™ - Cyber Threat Detection Powered by EOS™
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February 27, 2018, 05:46:56 PM |
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So I basically got fomoed. Towards the end of 2017 I saw how high bitcoin skyrocketed and decided to invest in ripple as a test. Less than one week it went up 3x. This made me more ballsy and I put in 11k total in various other alt coins like ripple, ethos, tron, and cardano. After the crash I lost about half of my value just like that. I am frustrated with the experience and wish I would have just put in 1k or something. I wish I could just not invested and went into what I was doing earlier which was just investing the boring and traditional way. Should I wait and hodl or pull out and do something else?
I guess every one who was holding crypto lost big amount of their investments during this two month, but also all who in crypto for a long time remembers that such thing has happened several times even in the last year, so my advice is it to wait for the market rise, but be ready to lose 90% of what you have right now. |
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pri3oner
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February 27, 2018, 05:49:31 PM |
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Mate, everyone over here feel ur pain cos the majority've got the same problems after crypto falling. Now alts are dying... It makes Ppl nervous but u gotta chill out. it's currency.
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trash321
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February 27, 2018, 05:52:31 PM |
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I think that you are not alone in this situation. The only thing I can tell you, it's probably not so greedy people. If you could earn from 1k $ 11k $, then you need to immediately remove them, because the course can not grow forever.
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LodisMcguire
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February 27, 2018, 05:57:22 PM |
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Well everyone in trading have at least made this mistake once,so you have to learn from this experience and try to not make the same mistake.Next time,you should research the coin that you want to invest,like the news of future update,if there's one,you should buy and sell when the news is about to be released,it's more likely the price will rise when the update is released.
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sourish
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February 27, 2018, 06:03:12 PM |
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Each person here empathizes with you, and would definitely ask you to hold. We all make mistakes, whats important is to learn from them. Despite the anxiety or excitement, give your investments enough thought, research and attention.
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Nevermind344
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HEROIC.com | The Future of AI-Powered Cybersecurit
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February 27, 2018, 06:03:19 PM |
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You are not alone, I have the same problem, after great faling i just make a decision that I will never sell my coins at low price. I'll waiting until market recovery! Take your mind off and do something else, there are many other interesting possibilities besides cryptotrading.
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bulbolitobayagyag
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Activity: 166
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February 27, 2018, 06:03:25 PM |
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You have learned you experience,you are graduated now from being a noob.Atleast your mistakes is still recoverable,start reading a lot of whitepapers of the top coins the coin marketcap so you will be able to know which coins would give you a lot of money in the future.FOMO is a common mistake of all the new folks here,you can still recover from your losses you must take researching seriously so you will prevent this thing to happen.
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xPASTELx
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February 27, 2018, 06:05:08 PM |
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The way i see it, there is really nothing to regret, we learn through mistakes and we are told experience is the best teacher, the beans is spilled and there's nothing you can do. what you can do however use to use the other remaining half to get what you lost and more . i hope youv learned to invest only what you can lose, but i like your risk taking, you missed but next time you wont
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EndChain - Complete logistical solution for all markets and supply chains
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blozo
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February 27, 2018, 06:05:42 PM |
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Just HODL. If you believe in the long term prospects of the coins you chose you will have soon or later your investment back
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Fennishlassy@gmail.com
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February 27, 2018, 06:07:16 PM |
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The bull market will come back soon so just HODL
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Lerikaweb
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Merit: 12
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February 27, 2018, 06:08:35 PM |
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I think you should hold now. You've just put up with your losses, don't go for more. Thearket is gonna grow and your frustration will vanish. Keep calm and hope for the best, this is the best for now.
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altcointalk14
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February 27, 2018, 06:08:51 PM |
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Many people chose this path so it is not your fault. In my opinion you should hold this all coins and wait because probably its price will back to norm
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cryptopussies
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HEXCASH - Decentralized Fun
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February 27, 2018, 06:14:36 PM |
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So I basically got fomoed. Towards the end of 2017 I saw how high bitcoin skyrocketed and decided to invest in ripple as a test. Less than one week it went up 3x. This made me more ballsy and I put in 11k total in various other alt coins like ripple, ethos, tron, and cardano. After the crash I lost about half of my value just like that. I am frustrated with the experience and wish I would have just put in 1k or something. I wish I could just not invested and went into what I was doing earlier which was just investing the boring and traditional way. Should I wait and hodl or pull out and do something else?
You shouldnt be buying anything without any proper knowledge,because our market is full of shitty scam coins,a lot of people are getting fomo because of the pumps and dumps but that is normal when you are into something new.Im sure right now you would be more vigillant with your investment and you are going to research a lot before buying anything because you have lose money with your carelessness. |
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