Post
Topic
Board Trading Discussion
Re: My exorbitant lessons in last bull market
by
wxa7115
on 22/10/2022, 03:39:29 UTC
1. I watch YouTube videos of people gambling on meme coins with just 100$ and making thousands of dollars, I did the same and I ended up with tokens that I can't sell on an exchange, buying works but not selling.
It was just a bad idea to be inspired by a youtube video about being rich by investing in meme coins. You must know that they only tell you good things about meme coins, they will never tell you the risks. I don't deny that there are a few people who gain big money from meme coins, but most of them lose money because of investing in meme coins without any knowledge about the risks. The price of meme coins only increases during its hype. And the hype won't last a long time. Many people failed to exit (selling the coins) during the hype because too greedy. They just realize it after the hype is over. This actually happened to you and me.


It is important to try to be as objective as possible when we are learning more about this market, the information that you can find in social media has a very high bias towards positive results, but when you see the actual results people get you will see there is a negative bias.

This means the majority of the market participants lose money when they trade the markets, but if this is information you do not know nothing about then you will not take any precautions against the negative scenarios you may face, and the probabilities you will become a loser trader rise up dramatically because of it.