Near success syndrome in trading.

[Rruchi man]

During the recent spike in the value of TWT, a friend of mine made double her capital trading. Although she had already made double her money, she set her exit point on the trade at a very high point hoping to triple her capital. Before the crash of the market and her profits along with it, she was excited and told me how happy she felt to have made something tangible trading on her own. I adviced her not to be greedy, that she should quickly sell since she has made double and not wait to make triple a her capital, but she refused and insisted on waiting. (I gave the advice  knowing that TWT is not a stable coin).
Some few moments after our conversation, i saw her with a long face saying that the market had crashed and if she had known, she would have followed my advice.

(This is not the first time she has made such a mistake)

Could this be termed "Near success syndrome in trading?".
Are you or Do you know someone with a similar episode?

[TheUltraElite]

Did you coin this phrase on your own?

Of course it has happened to many people. Getting stuck in the euphoria cycle is common specially the new entrants. The wise people will sell before the highest point is touched because they know that waiting for that top means a hurry in trade and possible exchange lagging, transaction fees being huge and all.

Altcoins specially suffer from these types of pumps followed by dumps.

But you are selling just before the top is reached you are still making a good profit. The important thing is to recycle the money after selling.

[MIner1448]

This, unfortunately, is not a pseudo success syndrome, but as you said, idle greed. It is necessary to always fix your profit on the highs, no matter how much% in the growth of the coin. I hope this story of your friend teaches you something. I'm actually the same;)

[wxa7115]

During the recent spike in the value of TWT, a friend of mine made double her capital trading. Although she had already made double her money, she set her exit point on the trade at a very high point hoping to triple her capital. Before the crash of the market and her profits along with it, she was excited and told me how happy she felt to have made something tangible trading on her own. I adviced her not to be greedy, that she should quickly sell since she has made double and not wait to make triple a her capital, but she refused and insisted on waiting. (I gave the advice  knowing that TWT is not a stable coin).
Some few moments after our conversation, i saw her with a long face saying that the market had crashed and if she had known, she would have followed my advice.

(This is not the first time she has made such a mistake)

Could this be termed "Near success syndrome in trading?".
Are you or Do you know someone with a similar episode?

I do know if anything like that actually exists but at least to me this tells me of a person that doesn't really have the necessary skills to become a good trader, to become a good trader you need two different types of skills, the ones that can be quantified and the ones that can't, your friend was simply too greedy and I'm pretty sure that if she had been able to triple her capital she will still try to hold her coins expecting even more profits and then the same would have happen to her, so the first thing that your friend needs to learn is how to set a stop loss, that way in the worst-case scenario in which a crash happens she still retains most of her profits.

The second kind of skill that you require in this market has to do with your mind, you need to be able to be very patient and whenever you have thoughts about unlimited profits you should be able to control yourself and avoid thinking like that, this is where I am not so sure that your friend will be able to do it because as you say this has happened to her several times in the past and the problem is that with each devastating loss most people instead of learning that is not something that they should do they keep doing it thinking about all the money that they have lost already and that they want to recover.

[milewilda]

(This is not the first time she has made such a mistake)

Could this be termed "Near success syndrome in trading?".
Are you or Do you know someone with a similar episode?

She doesnt learn and as mentioned this isnt the first time she had make the same mistake.If she is really serious on making profits then she should really be
contented on what she do earn rather than on being greedy and do ask for more.As she had already the experience then she must be aware about the probabilities
or she do tend to make out some experiment until she do able to hit it out on making some big gains? Well, this isnt bad but you should prepare nor accept
on what are the probabilities of things to happen.

[rhomelmabini]

Did you coin this phrase on your own?

I guess not.

http://www.rexchimex.com/2017/04/near-success-syndrome.html?m=1
https://www.rymstarayekwu.medium.com/near-success-syndrome

Could this be termed "Near success syndrome in trading?".
Are you or Do you know someone with a similar episode?

If he was really that close achieving the goal then it should have been that syndrome but if not I think that was just some sort of no plan B or something or does not implement a stop-loss even if it's just on spot market. I think I know one and that's my past self but I did grow and now I always stick to my plan and there's no way perfect on trading you really can't buy at the very top or bought at the very bottom but if you devise some plan that be happy if it will be executed.

[Swopon]

During the recent spike in the value of TWT, a friend of mine made double her capital trading. Although she had already made double her money, she set her exit point on the trade at a very high point hoping to triple her capital. Before the crash of the market and her profits along with it, she was excited and told me how happy she felt to have made something tangible trading on her own. I adviced her not to be greedy, that she should quickly sell since she has made double and not wait to make triple a her capital, but she refused and insisted on waiting. (I gave the advice  knowing that TWT is not a stable coin).
Some few moments after our conversation, i saw her with a long face saying that the market had crashed and if she had known, she would have followed my advice.

(This is not the first time she has made such a mistake)

Could this be termed "Near success syndrome in trading?".
Are you or Do you know someone with a similar episode?

This is an emotional expectations in trading that the success is near. Success can be defined with fullfilment of your expectations in the specific area. It will vary person to person. Individuals want success or want to be successful in a very short time and it's human nature. In trading, it is rarely can be seen. But the current bull ran can make you happy but can't determine a syndrome of near success because it varies.

[LUCKMCFLY]

We all want to be successful in trading, but of course, there are also the strokes of luck that should be well taken advantage of, especially in the alts, I have a friend who when he acquires alts he places a sell order at + 30% and when he gets there It sells them, because it knows perfectly that all the alts are m per bitcoin share, that is, they do not have a life of their own, the only one that has a life of its own is bitcoin. So he may always succeed there, he may not reach or take advantage of 100% of the raise, but he makes sure profit. But it all depends on the style of the trader.

[jrrsparkles]

IF this is not the first time she is making such mistake and losing profits then she didn't learn anything from past trading experience, as a trader it is always important to make sure that profits you made are safe that is why most people convert their profits into stable coin before the prices crashing out.

[maxreish]

Your friend profably suffering not from near success syndrome but in a wrong psychological method "greedy" syndrome.  

When we are setting our target profit like having 20 to 50% profit, we stick on that part. Since we all know that market will suddenly move and perform unexpected sideways. We shouls be stick on our goal profit. But from what I have seen from your friend, she waa overly confident that the market will still go on her expected bullish price and she forget that correction always occurs.

She has gained profit but she wanted more. That's greediness and that's what she have to dealt with to prevent those loss trades again.

[isaac_clarke22]

Ah yes, that feeling when you know you nailed it. It's like an early celebration syndrome as well. It's happening to me in studying not in trading though. Since when I nailed something, I usually celebrate so immediately then forgot where I left then I get drained out after that.
In hodling, I think it happened to me as well like back when Bitcoin went to 20k and I thought I can almost sell then suddenly it plunged.
Anyone remember that year? 2017, yes.

[el kaka22]

I think this kind of situation is not applicable at all places. Let me put it this way, if I bought bitcoin at 15k, and it became 30k and you told me "you made double of your profit, you should not be too greedy and get out" and I followed your advice, I would have lost an additional 20k+ profit. Does that make sense? Of course not, I should keep and be more greedy in that situation, which means "leave when you double your profit" is not really a good advice depending on the situation, in your situation it was a good one in mine it was a bad one.

It means it depends on the situation and sometimes you should get out when you can and sometimes you should stick with your investment and wait, that is why I believe we should not be really rushing into judgment when others investments are on the line, let them make their own decisions so you do not get in trouble with them.

[DarkIT]

IF this is not the first time she is making such mistake and losing profits then she didn't learn anything from past trading experience, as a trader it is always important to make sure that profits you made are safe that is why most people convert their profits into stable coin before the prices crashing out.

This strategy used by many traders.Learn from the past is important one. Because by the trading experience we can learn, when to hold. When to sell, so past experience plays a vital role in the trading.The traders change to stable coin inorder to save loss.

[so98nn]

Ask me! My friends always go crazy while doing trading or gambling their money. Mostly in gambling people go nuts. For example, a friend of mine turned his 5 bucks bet to whooping 2K on a slot. But no, he wanted more and more so gambled the money on crash game, and guess what all he had at the end was "0". His face was red like a tomato.  

Can't help it. Same thing happens whenever people are trading their money. It has to be really really responsible one otherwise one can end up with zero's. That feeling is heart felt but if you are too greedy then karma hits back.

We can't support them, besides moral base.

[Reid]

I don't know anything about "near success syndrome".
But I did understand something about your friend.
She can't control her greed.

You could always put triple the price if it's one of the known coins in the market. The popular ones.
BTC, ETH, LTC, and more.
If you are willing to wait for months or years then it won't be a problem. Just don't let your emotion take over.
Add up the research to find an exchange that will last that long. Better to just keep it in your wallet.

[ChrisPop]

I was caught by this fallacy as well in the past. I think that is something that every developing trader must go through. It is a lesson that is best learnt on your own skin and hopefully when you are not rolling with a large capital.

Just tell your friend to stop feeling sorry and instead look at it as a valuable lesson for the future. 

[Mahanton]

I was caught by this fallacy as well in the past. I think that is something that every developing trader must go through. It is a lesson that is best learnt on your own skin and hopefully when you are not rolling with a large capital.

Just tell your friend to stop feeling sorry and instead look at it as a valuable lesson for the future. 

You wont really be becoming a good trader if you havent experience these unfortunate events and this is really a pretty common scenario because price is always unpredictable.We do really have those kind of hopes that
the price might even shoot up more and on the fear of missing out those profits or trying to maximize it out then we would really be having this kind of behavior where we do still hold up our position ever we are already
in profits which it might only result into two possible situations neither you would lost up your profits due the price goes to the opposite instead or you would make profits even more because the price goes on what
you had expected.

[Jaycee99]

During the recent spike in the value of TWT, a friend of mine made double her capital trading. Although she had already made double her money, she set her exit point on the trade at a very high point hoping to triple her capital. Before the crash of the market and her profits along with it, she was excited and told me how happy she felt to have made something tangible trading on her own. I adviced her not to be greedy, that she should quickly sell since she has made double and not wait to make triple a her capital, but she refused and insisted on waiting. (I gave the advice  knowing that TWT is not a stable coin).
Some few moments after our conversation, i saw her with a long face saying that the market had crashed and if she had known, she would have followed my advice.

(This is not the first time she has made such a mistake)

Could this be termed "Near success syndrome in trading?".
Are you or Do you know someone with a similar episode?

Sometimes you can guess if the market would crush especially when it's altcoin, technically even for bitcoin a 50 50 chance of guessing and gambling at the same time. Well, she did trading so she should have known but ignore it because she was greedy to make it double everything is unstable from my experience altcoin should be the one we should look after to why? first of all, some altcoins can be easily produced plus it can be a scam.

Still, One thing I know when it comes to trading set a limit like if she made a double income out of trading and that limit was your sign of advising to stop as it is a good sign for you if you're into trading. At the end, it's not too late for her to stop it should only be her lesson, yes it's a great loss but in the near future may not be in trading but in some way, she can apply that lesson.

Also, I would like to advance if she is into altcoin why not get into Etherium? or bitcoin? she may lose here but there is a chance of a kickback when it starts to drop.

[AliMan]

Ask me! My friends always go crazy while doing trading or gambling their money. Mostly in gambling people go nuts. For example, a friend of mine turned his 5 bucks bet to whooping 2K on a slot. But no, he wanted more and more so gambled the money on crash game, and guess what all he had at the end was "0". His face was red like a tomato.  

Can't help it. Same thing happens whenever people are trading their money. It has to be really really responsible one otherwise one can end up with zero's. That feeling is heart felt but if you are too greedy then karma hits back.

We can't support them, besides moral base.

Yeah, that's proven caused karma or unlucky jive mate. It happened to me last 3 years ago, I been so greed and it ended up miserable losing all tokens I had and opportunity loss was really depressing. Thinking about more successful trades, would rather brought you bad effects both emotional and physical. Those days made me learned serious aspects in life which nowadays, everything will set unto right path as well.

[doctor877]

the mistake people make is not knowing how to take profits in a trade or investment. you can easily take profit and keep holding with patience. you dont hold by thinking it will keep going up, people need to buy and sell, so it will go up more and go down a little and move higher. she needs to learn, these are part of the lessons we learn in the journey. divide your holdings and take profits at intervals.