~Snipped
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?
I see stories like that on an account on X and Imo, most of the stories are real. For the individual in question; I'd say yes, He was greedy. He could have taken 50-70% profit off the table and let the rest ride but instead choose to let it continue. I wouldn't blame him for his greed because it happens to the lot of us because there's two ways it could have gone:
- Take profit at $80K and it pumped to $800K or above 1M - regret
- Don't take profit and let it dump to breakeven or lower - regret.
Something I've learnt recently is that before entering a trade, we need to define how much profit or loss we'll be comfortable with so we can use that to keep ourselves in check if things get euphoric.