Quote from: Fredomago on Today at 05:19:59 PM

Quote from: coupable on July 04, 2025, 03:30:10 PM

This is the most prominent problem faced by over-enthousiasmic investors. I know someone who closed his grocery store, which was generating good daily returns, sold his remaining stock, and invested the entire amount in Doge coin, following the hype sparked by Elon Musk's tweets about the meme token Doge. What happened next was that he bought at a price considered high compared to the pre-wave price and was forced to sell at a huge loss, preventing him from even reopening his store. He wasn't directly influenced by Musk's tweets, but rather by his acquaintances, who repeatedly told him they were making significant returns from investing in cryptocurrencies, citing the success of Dodge's investment without mentioning the risk.

Sad truth especially when hypes still on-going it's easy for those early investors to bring close friends or relatives to share their success, nothing to blame but that hypes and being influence is something that business owners or aspirants needs to understand,you need to go deep before taking your call.

It's your hard earned money and if you lose only regrets will be the witness of your mistake, you need to be more extra careful.

Investing, like gambling, carries a degree of risk. Therefore, the golden rule of "never risk more than you can afford to lose" applies to both activities. Gambling is less risky because it's just a game, and the impact won't extend beyond the player's situation. However, in investing, losses can be catastrophic if skill, market research, and accurate and professional data analysis are not taken into account. I've personally had some rather bad experiences, and I hope no one else makes the same mistakes I did.