My Altcoin experience and Lessons

[redsun114]

Risking small money for big profits is not effective in the long run, as we know the market is volatile and sharp. This will undoubtedly cause us a loss in the event that we invest in meme coins or in failed projects.
In fact, if you feel that you will regret in the future, do not sell, but rather work on storing and waiting for the goal

The amount of money he has invested is quite small, $25, and according to what he has said here, when the price of the coin increased he got up to $25,000 from the increase, although I’m not sure if that’s really right. $25 isn’t that much, and I believe a lot of people are able to risk that amount. If he is able to risk that amount then it’s good that he invested it.

We should always invest only the amount that we can risk in this market, if not , then it’s best to just stay clear from it. If he had more patience, he would have been able to make a better profit from the market.

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[timerland]

You still did extremely well.

It's always a matter of conviction. Are you actually comfortable holding the coin for the long term?

Even if a coin goes ballistic - if it doesn't have good fundamentals in terms of long term potential then I wouldn't ever consider buying and holding it. This would simply lead to subpar decision making and eventually you will be hit sooner or later with a big loss.

[91254vvpatel]

I have been working in the crypto industry for the last two years .And my experience with altcoin has been overwhelming. I believe that what we get from Alto is not the same as Bitcoin or etherium .Because no altcoin takes time to double. While the same thing is not possible in Bitcoin or etherium, even if it is possible, it can take a very long time. So choose the best altcoin and invest in it and get good returns. This is my experience.

[darewaller]

The example you have given here is contrary to what you are talking about. You said it’s good not to be greedy, and that we should take our profit as soon as possible rather than wait for the 100x profit, and that is exactly what you did; instead of having to wait for the 100x of profit you went ahead to sell as early as possible to avoid any loss that might come after that. So you did exactly what you are talking about here, rather than waiting for that price to reach more than 100x profit, which shows you were not greedy.

What you have to understand is that there are risk involved in cryptocurrency investment, and it goes both ways, whether you are trying to be careful, maybe by taking profit as early as possible, or you are trying to have patience for it to increase, there will always be that risk involved. If you sell early, you end up missing the bigger opportunity, and if you decide to have patience till the price goes up you stand a chance of making profit, or if not, then you are losing.

[michellee]

From your story, I agree that never get too greedy about making a profit because we can lose the chance to make a big profit. It is a lesson for all of us and not just for @OP because we never know what will happen later. As long as you know when you will sell and take profit, you will be okay. Otherwise, you only wait more and more without knowing when you should take profit.

It happens to many of us and instead of making a profit, we never sell at a high price but only at a lower price. It is far from our imagination but that is what happens to us. We all have had this experience before so we need to think about it and know when to sell.

[Rockstarguy]

Some people believe that the longer you hodl the more profit that can be realised but it does not work that way, normally we hold as to make profit , their is a duration one would want to hold to make profit that is beyond holding which is called greed. Greed has made so many investors of loosing great opportunities because of greed just to get plenty of gaining,  I think some investors should get understanding how to handle some coins.

[asyakashi]

vmy experience recently, news is not the main thing in determining the direction of bitcoin, maybe it has an impact a week or a month later or before the incident. short term it would be better to use charts and indicators. this was proven when bitcoin went down with the news of the war in Russia, and in just a day bitcoin recovered 10%.

[kojektea]

Greed is the main point of loss in cryptocurrency trading. Profits can be obtained in various cryptocurrencies, but when we focus on and fall in love with one coin that makes us forget to take profit according to the target, we have the potential to lose.

[Rahman11]

It is fair to say that Bitcoin has better investing fundamentals than the vast majority of altcoins. Bitcoin is the most purchased, held and traded cryptocurrency on the market. It has a market capitalization of about $1.2 trillion, or more than 60% of the total market cap of cryptocurrencies.

[husdemba]

The biggest mistake of many investors here is to be greedy. I have experienced this situation many times and high expectations have always resulted in disappointment. Just like in life, we always learn new things in economics. I hope we get small losses and big gains 

[Oasisman]

Greediness will not bring you any profit and you have proven that suppressing greed is very difficult and keeps you from selling your coin when it reaches its highest price. I think we've all experienced it and regret it to this day. But you are not too late because the market will still allow you to make big profits again and hopefully, you will be able to overcome the greed that can come your way. If you keep in mind that the highest price won't always come and only sell at that highest price, you will make a big profit.

Well, yeah greed most of the time will lead into a massive loss of money most especially If you do not know what you're invested into and you're solely following on what's new and what's the hype.
But, there were circumstances where a greedy person actually gain from being greedy because he actually did his own research and had his due diligence before placing his money into a huge risk.
Altcoin is known to give not even a hundred percent of profit, but could actually give you thousands of fold, only if you knew what you are doing.
But just to be more safe , I'd rather hold fractions of BTC for a long term profit.

[D ltr]

My altcoin Jurney has been full of excitement and lessons and in this thread, I reflect on what I have experienced and how I was able to manage my risks and uncertainties and come up with little or no losses in my altcoin portfolio.
The most important lesson is never to get too greedy once your investment made a certain profit just cash out and move on rather than waiting on the big 100x profits that may never come and can lead to losses if the coin gets dumped.
Take Hex coin for example I invested some amount in the coin when the project first launched with a very low price of 0.0005 and I bought around 50k of the coin that was a $25 investment at that time but the same coin raised to 0.49 in 2021 before dropping back 0.24 at the present price, let say I sold my $25 investment of 2 years at the peak price of $0.49=$25,500 that could have been huge profits but guess what I sold at the $0.005 which is much less but lessons learn always make the right decision at the right time.

all experience it, greed destroys all, if you get 10% profit let go, and buy back when the price is 20% below profit and see the volume so that we don't get hit by the coin hype,
and when it's all in one word FORGET if there was ever a coin in our wallet

[EmmaGod]

We all have our unique lessons when it comes to the in the space, but one thing I find common with most of us is the issue of greed. I've lost a whole lot at several intervals when expecting a project to give me a x100, but eventually left with nothing to hold. We can only wish to make the right decision.

[Tellek Garing]

You shouldn't dwell on "whatifs".
If you made a decision, and made profit, it's a good decision.
No point wondering "oh if i sold at 0.45". It's the same as "oh I should have bought bitcoin in 2012"

You are very right by this statement as an investor once one can make some profits then it is good enough but I was just sharing my experience and lessons, am not seeing my decision to sell at that price as a bad decision though after all I made some profits already and have moved I with that no regret but just lessons.

[kapalmabur]

Over the years most people who hold the coin for a long term don't have regrets because they will eventually get their actual investment funds. Investment takes commitment and time before you start seeing yield.

Even so holding coins for the long term requires patience,
not everyone can do that but when it pays off with a big profit of course very satisfied,
what is important before deciding to hold a coin we need to at least do some research so that we don't make the wrong decision

[Novita]

Greed has screwed over lots of people, and for lots of money. I've been dipping more into alts recently (on PancakeSwap mostly) and when I can be profitable with one I pull out my initial investment plus a little extra, and then leave a bit of profit in the token if I want to go for the whole 100x/moon thing. If a token is really going to moon then you can make a good profit even with a very small amount (for example if I can make 100% ROI on my $25-$30 investment and I really want to take a small shot at the moon, I might leave $5-$10 of profit in there). As I improve and build a larger bankroll, maybe I can get to a point where I'm saving $15-$20 on those. Still, I agree that greed will usually end up screwing you if you're chasing those 100x profits. Best to set a profit target and stick to it. Then, if nothing else, leave a bit of profit in there to chase the moon shot. That's my opinion anyways..

I agree with you, and I also experienced the same thing that is greed that makes us fall, because we hope for bigger profits, when new coins are launched, I feel very interested in buying new coins on PancakeSwap, so the coins I sell are on the following months the price increased rapidly, indeed we must need patience and do not be greedy in investing.