Another example is how greed destroy crypto investors. - page 2.

KaliLinux

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Quote from: The Cryptovator on May 31, 2022, 12:08:48 AM

A few days back I bought a token from Launchpad. After they Launch on Pancakeswap I made 1.5X and sold. I was happy with that. But unfortunately, the token price grow double every day, then I bought again at the higher price. I thought this was a chance to multiply my portfolio again. Even though it grow 5x but O didn't sell that due to greedy behavior. Eventually, the project rug was pulled and skipped with all the funds. That means I lost everything even including my initial investment. This is how greed destroys us and scammer takes the advantage.

You are right and this I as have said in my previous post that, being greedy in crypto investment has been stressed enough that investors shouldn't be greedy and also have a target of when to take profit and forget what happens net.
Also, I see that this was a new project, some Investors always clamor for investing in new projects claiming that is where you can easily make 50X-100X from investment which could be so as you mentioned but investors also forget that these new projects are prone to RugPull and are more risker.

KellyHands

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Quote from: The Cryptovator on May 31, 2022, 12:08:48 AM

A few days back I bought a token from Launchpad. After they Launch on Pancakeswap I made 1.5X and sold. I was happy with that. But unfortunately, the token price grow double every day, then I bought again at the higher price. I thought this was a chance to multiply my portfolio again. Even though it grow 5x but O didn't sell that due to greedy behavior. Eventually, the project rug was pulled and skipped with all the funds. That means I lost everything even including my initial investment. This is how greed destroys us and scammer takes the advantage.

It's quite unfortunate and to be candid, issues of this nature are experienced daily by people in the cryptocurrency space. Most people can relate with this and that's how we gain our experience. I'm so sorry for the sad experience but that doesn't mean you're greedy, you were only trying to get best out of the market and that's what most people do.

bittick

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Lesson for everyone, thank you for sharing with us but I believe that people will not learn from the experience because greed is always something that we cannot control. I used to tell myself not to be greedy, knowing enough is enough, but it really doesn't work when I see the profits in my account increase rapidly. Only when it's gone do we realize we were wrong.

agreed with this one, even though we know how we should invests, but greedy is really difficult to control since our greediness always forces us to either keeps waiting until the value goes higher, some of us might mistake it for patience actually it's just greed, meanwhile the end results is that we gonna lose all the unrealized increase of value in our assets at the end which is really disappointing.

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Quote from: tvplus006 on October 15, 2022, 09:47:10 AM

I also prefer to move the stop loss higher as the price increases. In this case, when the price of the coin is adjusted, you fix the profit at almost the highest possible price.

I think this strategy to adjust and make to gain more profit can also be a risk because you have to keep watching the price to adjust it and this will keep you steady there and stress you. At some times it gets higher when you are suppose to cut out your profit but the price drop making you lose some potential profit away from your gain. Using stoploss adjustment is not better when you are pulling it down , you lose more if you miss your profit target.

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Quote from: mdzahed134 on October 14, 2022, 04:12:09 PM

Like you, i have many similar experiences in crypto investment. But most of the time i bought at high price but price was crashed, even right now i hold a few coins if sold it at the right time then definitely i made 2x-4x profit, but now those tokens almost worthless. So, i think i lost due to excessive greed.

holding too long could incur loss instead, I think many that have invested usually have lost some of their profits because greed that keeps them holding their invested coin for too long, this is why strategy is essential since if you have the strategy at what mark you're gonna cash out your investments surely this could gets avoided, even though there is chance you miss higher value.

I don't think holding too long will cause a loss, it depends on whether the coin you are holding has potential or not or it is just a junk coin, and not a held coin for a long time will also bring great profits. That is why before investing we always have to research and classify our portfolio, what are long-term goals and what are short-term goals. OP mistake, I believe we all make this mistake, this is not only to remind newbies but even old investors make this mistake, once you fail to control your greed, you will become the object of scams.

Rengga Jati

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holding too long could incur loss instead, I think many that have invested usually have lost some of their profits because greed that keeps them holding their invested coin for too long, this is why strategy is essential since if you have the strategy at what mark you're gonna cash out your investments surely this could gets avoided, even though there is chance you miss higher value.

It means that not all long-term holding is promising and worthy. There are some pros and cons of long-term holding, and there are some ways to make our long-term holding to be worthier and more promising. This will largely depend on what cryptocurrency we are holding for so long. If it's Bitcoin, this will certainly be more promising. But if it's altcoins, then it's no better guarantee, especially if it's from a new project. Many investors are disappointed because holding new project tokens is too long so their value always decreases and even disappears into dead coins.

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Quote from: tvplus006 on October 15, 2022, 09:47:10 AM

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I think this is not greedy, but trying to get maximum profit, when the price of rising then the natural thing to continue holding with the hope of the market continues to rise, I once missed the opportunity to sell BNB at a price of $ 400 before drop, and this certainly became an important lesson for us to be wise.

In this case, the correct strategy would be to sell in parts when the coin reaches a certain price range. This is what is used by most traders. I also prefer to move the stop loss higher as the price increases. In this case, when the price of the coin is adjusted, you fix the profit at almost the highest possible price.

This strategy isn't applicable to all types of coins. Some altcoins pump and turn their value into zero later on. Those coins aren't good for holding so we should take advantage of their pump and sell whatever we have because if we'll try to accumulate more, we might only have regrets in the end. Greed could really turn our profits into losses.

There is no perfect investment strategy and money management, eventually the correction will happen on the markets. Risky altcoin markets have huge potential but the higher reward means higher risks. After few attempts to break ATH level on charts can be analyzed as the end of bull momentum that means it is exit time for me but greedy investors keep holding position to get more and more. Greed and fear are two enemies of traders.

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Quote from: Ararbermas on October 15, 2022, 02:08:19 PM

Quote from: fvb on October 14, 2022, 12:28:30 PM

Many have made the same mistake, myself included. As you say, greed is one of the main mistakes in our life. I came to the conclusion that if you have already made a profit, you should not return to this, but it is better to forget and move on.

actually its not bad idea to get back and make investment again but be smart and of course make sure that the project who want to pick again for investment has a potential to make new progress especially when it comes long run because many investors have faild on it as they're still assuming that it still can promise since they got good return from it. Nope its always good to took some times to analyse the project very well to assure that your money is still in a safe hand.. Be smart and be wise!

we should not give up with our mistakes or something else ,if we were in this condition and still feel Regrets maybe its not our world. To get success in crypto market we will face many failure included greedy that maybe make our profit turn to losses. Always do research on every projects we Will buy ,make sure we have target to take profit.

Woodie

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Quote from: The Cryptovator on May 31, 2022, 12:08:48 AM

A few days back I bought a token from Launchpad. After they Launch on Pancakeswap I made 1.5X and sold. I was happy with that. But unfortunately, the token price grow double every day, then I bought again at the higher price. I thought this was a chance to multiply my portfolio again. Even though it grow 5x but O didn't sell that due to greedy behavior. Eventually, the project rug was pulled and skipped with all the funds. That means I lost everything even including my initial investment. This is how greed destroys us and scammer takes the advantage.

Ouch this should have given you a headache after thinking through why you never took profits early like you did for the 1.5x, but then again sometimes greed can be rewarding if you ask me Roll Eyes

imagine if you didn't take profits out at 1.5X and waited for the 5X to happen... It would mean that more profits secured and a good investment story to tell. But unfortunately, we can't be masters of all trades which is why we need investment plans that can be followed mechanically...E.g If the portfolio grows 5X we need to remove profits to secure the bag no matter how promising an asset may seem which might actually be a solution of removing emotional decisions and allow for a more disciplined funds management.

Ararbermas

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Quote from: fvb on October 14, 2022, 12:28:30 PM

Many have made the same mistake, myself included. As you say, greed is one of the main mistakes in our life. I came to the conclusion that if you have already made a profit, you should not return to this, but it is better to forget and move on.

actually its not bad idea to get back and make investment again but be smart and of course make sure that the project who want to pick again for investment has a potential to make new progress especially when it comes long run because many investors have faild on it as they're still assuming that it still can promise since they got good return from it. Nope its always good to took some times to analyse the project very well to assure that your money is still in a safe hand.. Be smart and be wise!

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Quote from: tvplus006 on October 15, 2022, 09:47:10 AM

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I think this is not greedy, but trying to get maximum profit, when the price of rising then the natural thing to continue holding with the hope of the market continues to rise, I once missed the opportunity to sell BNB at a price of $ 400 before drop, and this certainly became an important lesson for us to be wise.

In this case, the correct strategy would be to sell in parts when the coin reaches a certain price range. This is what is used by most traders. I also prefer to move the stop loss higher as the price increases. In this case, when the price of the coin is adjusted, you fix the profit at almost the highest possible price.

I've been doing this kind of strategy that is selling bit by bit of my token holding if I'm uncertain of where the price would go. It's effective in having less regret when the price is going more than you are expecting. I've been on different market scenarios and regretted on many things about selling early but I always think that profit is profit no matter how small it is. If I regret so hard, One of my copping mechanism is not to view that certain token for some days or weeks so that I can reset my mind and won't affect my emotions in getting greedy because of the regret I experienced.

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Quote from: fvb on October 14, 2022, 12:28:30 PM

Many have made the same mistake, myself included. As you say, greed is one of the main mistakes in our life. I came to the conclusion that if you have already made a profit, you should not return to this, but it is better to forget and move on.

I think this is not greedy, but trying to get maximum profit, when the price of rising then the natural thing to continue holding with the hope of the market continues to rise, I once missed the opportunity to sell BNB at a price of $ 400 before drop, and this certainly became an important lesson for us to be wise.

It's just the same isn't it? I mean you already made money, but you look back and see that the price is going up and you don't want to missed the boat and wanted more profit.

So the OP re-invested and still didn't sell when he had a opportunity to make a profit again because he wanted more. I think that is the classic definition of being greedy in crypto market. For me once a sold and make money on a certain project, I don't look back so that I won't regret my decision specially if the price goes up again, just saying.

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I think this is not greedy, but trying to get maximum profit, when the price of rising then the natural thing to continue holding with the hope of the market continues to rise, I once missed the opportunity to sell BNB at a price of $ 400 before drop, and this certainly became an important lesson for us to be wise.

In this case, the correct strategy would be to sell in parts when the coin reaches a certain price range. This is what is used by most traders. I also prefer to move the stop loss higher as the price increases. In this case, when the price of the coin is adjusted, you fix the profit at almost the highest possible price.

bittick

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Quote from: fvb on October 14, 2022, 12:28:30 PM

Many have made the same mistake, myself included. As you say, greed is one of the main mistakes in our life. I came to the conclusion that if you have already made a profit, you should not return to this, but it is better to forget and move on.

agreed with this, what's important is that after making profit we shouldn't even regret even if the value of the coin is keeps rising because that's how it is with investments in general you just never could make 100% forecasts in regard of the value of the coin you invested in, you just acts according how much you wanna make from your investments in general.

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Quote from: Mpamaegbu on October 14, 2022, 09:39:54 AM

Quote from: bittick on October 10, 2022, 06:58:46 PM

this is the reason if you have liquidated your investments you should instead invest in other coin instead, even if the coin that you just liquidated seems interesting and could grow even further but if you instead reinvests again it will immediately losing its value, if you invested in some very fluctuative coins before, it's wiser if you then move on and instead reinvests in better coin like eth.

This is easier said than done. Only those who don't trade will think it's an aberration to sell for profit and then want to buy back at a dip. Of course, that's what it always seem like until you discover that the coin you just sold isn't slowing down and then the anxious ones will start chasing price. They end up buying at a higher price and are exposed to more risk than they would've been the first time. You're right. However, what isn't that easy is the advice to buy into another coin. No one truly can tell what project will be an explosive winner so they can quickly invest in it. This is why this industry is highly speculative. We can only take a guess by navigating the murky waters with the aids of indicators and fundamentals.

I understand that there is a good understanding why it's hard to trade, and why it is easier to say "buy low, sell high" but at the same time there are a lot of people who make huge mistakes as well, and that's obvious.

It means, even though it is not easy to trade, it is easy to not trade in a silly way and you could avoid that. Sure the great traders still make mistakes, but they make them a lot less and even if they fail to make a profit, it could be in a reasonable way and that makes sense. This is why I doubt that it would be hard to stop trading in a silly and newbie ways, just learn how to trade and even if you make mistakes it would be fine.

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Quote from: The Cryptovator on May 31, 2022, 12:08:48 AM

A few days back I bought a token from Launchpad. After they Launch on Pancakeswap I made 1.5X and sold. I was happy with that. But unfortunately, the token price grow double every day, then I bought again at the higher price. I thought this was a chance to multiply my portfolio again. Even though it grow 5x but O didn't sell that due to greedy behavior. Eventually, the project rug was pulled and skipped with all the funds. That means I lost everything even including my initial investment. This is how greed destroys us and scammer takes the advantage.

First of all sorry for your loss OP. I just hope that you did not lose any money that you need for you daily life, in the end i think the most important thing that you need to remember as a crypto investor is that you should never ever invest money into cryptos that you need, because there always is the chance that you lose all of your invested money as it just happened to you.
Also i would say that greed is the main factor why we are all here in the crypto space. We all heard stories of those guys that bought cryptos for 10$ like 5 years ago and that are now millionaires and we are dreaming about achieving the same event though we know the chances are like 1 in a million so i would not be to hard to yourself.

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Quote from: fvb on October 14, 2022, 12:28:30 PM

Many have made the same mistake, myself included. As you say, greed is one of the main mistakes in our life. I came to the conclusion that if you have already made a profit, you should not return to this, but it is better to forget and move on.

I think almost all of us experience this kind of mistake. I also has an altcoin that were once less than a dollar. I got around 3k+ of it and the token was pumped to $19+ I failed to sell it thinking that it will surge more. So I keep on holding the token until I realized it was too late to sell because the token become worthless.

Quote from: merekamo on October 14, 2022, 10:50:30 AM

I'm sad to hear that. One thing you should avoid, do not buy tokens in large quantities when the tokens are still in the Launchpad (ICO) stage. Because some Investors believe that Launchpad will give them a return on their investment.

There are instances when a token on launchpad gives profit to investors, so many investors try their luck and invest during the initial stage of coin selling. But we must make sure that we had done our research before investing in these kinds of projects.

Quote from: merekamo on October 14, 2022, 10:50:30 AM

Second, if you have sold tokens and then get a profit, I don't think you should buy again when the price is still high. So, just stop there.

True, we must not FOMO after we sell at a profit. Often times investors got burn when they buy back during the price surge. We should wait for the right time such as correction and price drop and make sure that the project developer will not abandon the project.

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Like you, i have many similar experiences in crypto investment. But most of the time i bought at high price but price was crashed, even right now i hold a few coins if sold it at the right time then definitely i made 2x-4x profit, but now those tokens almost worthless. So, i think i lost due to excessive greed.

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Many have made the same mistake, myself included. As you say, greed is one of the main mistakes in our life. I came to the conclusion that if you have already made a profit, you should not return to this, but it is better to forget and move on.

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Quote from: merekamo on October 14, 2022, 10:50:30 AM

I'm sad to hear that. One thing you should avoid, do not buy tokens in large quantities when the tokens are still in the Launchpad (ICO) stage. Because some Investors believe that Launchpad will give them a return on their investment.

Launchpad prices and market prices after 6m show a huge difference, and this not similar to IPO markets, here the losses prevail and investors who buy in huge amounts at tokesales are the biggest losers if they have not sold at the first pump.

Sadly this also means that the project would no longer be profitable for any new investors and also not develop further eventually the devs will vanish just like they appeared, leaving the investors hanging.

Quote

Second, if you have sold tokens and then get a profit, I don't think you should buy again when the price is still high. So, just stop there.

This is also true and this is the reason why trading ends up being linked to a game of chance like the dice game on casinos.

Topic: Another example is how greed destroy crypto investors. - page 2. (Read 800 times)