What type of a trader/investor is this?

[fuguebtc]

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.

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.

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.

[Egii Nna]

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 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.

[Hypnosis00]

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.

[Finestream]

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.

[Lantind]

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.

[doomloop]

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.

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.

[Lanatsa]

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.

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.

[oktana]

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).

[fauzan Ichsan]

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.

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.

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.

[FanEagle]

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.

[Gladitorcomeback]

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).

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.

[oktana]

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).

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.

[Sebas.tian]

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%.

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.

[Fara Chan]

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.

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.

[pusaka]

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.

[Wind_FURY]

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).

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.

[Faisal2202]

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.

[Iamcrypticguy]

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

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

[goaldigger]

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.

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.

[oktana]

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).

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.

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.