What type of a trader/investor is this?

[bSpend]

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

[Bulltard]

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.

[Davidvictorson]

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.

[Stalker22]

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.

[boyptc]

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.

[Issa56]

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?

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.

[logfiles]

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.

[mk4]

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

Re: What type of a trader/investor is this?

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

[wxa7115]

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?

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.

[Assface16678]

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?

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.

[Alpha Marine]

A common greedy investor.

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".

[khalidkhan82118]

https://talkimg.com/images/2024/05/19/1rUjT.jpeg

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

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?

[mindrust]

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.

[SOKO-DEKE]

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?

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.

[Awaklara]

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?

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.

[Bananington]

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?

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.

[target]

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.

[Asiska02]

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?

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.

[boyptc]

A common greedy investor.

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.

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.

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".

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

[Hamza2424]

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

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.