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.