Re: Do Not Lose Everything Youve Gained in One day, or One Trade

Quote from: Natsuu on Today at 10:53:46 AM

Quote from: Fivestar4everMVP on October 25, 2023, 02:54:11 PM

According to him, he went long with all of his entire crypto NetWorth on an Altcoin because he was expecting the price of the altcoin to jump back up, after a news (which was later confirmed to be fake) caused the cryptocurrency to go down, but unfortunately for him, by the time he woke up from sleep the next day, on checking on this trade, he discovered that he had been completely liquidated because the price of the crypto currency ended up dumping even harder than before.

Anxiety and fear made me deposit more money and he try to see if he could DCA the dip and make some of the money he lost back, and at a point, the price reached his take profit target but unfortunately, the take profit did not fill before the price of the altcoin shoot up again and at end, he was liquidated again.

I think the friend learned his lesson here. Everyone has their mistakes to learn from right? It is just very unfortunate of him because he made so many wrong things at once. First off, putting all your money into one cryptocurrency is like going all in at a poker game, its super risky. Also he acted on unverified news Sad

he should have calmed down first and did his research.I think he also let his emotions prevail as he wanted to recover losses by pouring in more money. It might seem like a good idea in the heat of the moment but it just made things worse for him Sad

We all need patience in this crypto world. Prices can swing wildly so jumping the gun and not waiting for the right moment can burn anyone.

Everyone into their lives does commit out mistake on which it is really just indeed normal since there's no one on this world would really be that perfect specially on dealing things that we are really that in first time on doing it or something that do talks about trading then we cant really be able to make ourselves profitable or even on investment in our first tries. You would really be needing tons of time and effort before you would really be able to to have a good grasps.You would really be passing tons of failures and mistakes before you could really be able to make yourself that good into this field. Dont make yourself act like a gambler because if you do then you would definitely fail into this field. Never ever chase up losses and you should really know on when to call it a day and stop completely midway if you do see that trading now is not really that good.

Gains could really be taken back if you would really be continue on doing the same mistake. You should really be that mindful on whatever steps that you would really be making. There's no such thing
about having no risks and this is something that you should really be targeting on,because on the time that you would really touching up this floor then
there's no easy way on dealing with it.Every steps do matter and the actions would be made.