Topic: Ego and too much confidence are dangerous in investing. - page 2. (Read 416 times)
A man who is over-confindent about the fact that the market will always be favourable to him will always suffer heartbreak because the market is never stable.Some persons trade with the fact that the market has been favourable to them before,so on that note,it will always be favourable to them,but this is really what gives them depression,because once the market is bad,it's bad,and there is no way you can recover the money already spent investing.There shouldn't be any Ego while investing,because the loss can always humble us.
2021 I started my journey here in crypto, I was lucky because I was able to invest in other cryptos before it went all the way up. NFTs, P2E games, airdrops and hyped shitcoins lol. Of course I earned a lot and since it's my first time I became very confident thinking I'm so smart lol 
. I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. I think I am not for crypto 
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You cannot tell you’re not meant for crypto just by experiencing your first losses, that’s part of the game. But let me tell you, having too much confidence in crypto is not good at all since it will develop an attitude that you know everything in crypto when in fact you’re not. And focusing on your ego is also not helping too. Instead, teach yourself to consistently learning in crypto, that way you will know how to value your investment and how to make them work. . I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. I think I am not for crypto . 
The crypto market is not something to be confident about when investing in any altcoin. What you can be confident about is bitcoin cos when the crypto market goes soars, bitcoin can survive it but the majority of altcoins don't survive it. They tend to vanish into the tiny air.
I have encountered a scenario whereby I was advised to invest in a particular coin that will do better because of the hype it receives from its investors without researching it. I was confident enough that the altcoin I invested in will bring many profits for me in a short time due to its hype and how legit it looked. That was my worst mistake ever and it thought me a big lesson.
From that day onwards, I decided What I can be confident about in crypto investment is bitcoin nothing else
I have encountered a scenario whereby I was advised to invest in a particular coin that will do better because of the hype it receives from its investors without researching it. I was confident enough that the altcoin I invested in will bring many profits for me in a short time due to its hype and how legit it looked. That was my worst mistake ever and it thought me a big lesson.
From that day onwards, I decided What I can be confident about in crypto investment is bitcoin nothing else
2021 I started my journey here in crypto, I was lucky because I was able to invest in other cryptos before it went all the way up. NFTs, P2E games, airdrops and hyped shitcoins lol. Of course I earned a lot and since it's my first time I became very confident thinking I'm so smart lol . I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. I think I am not for crypto
Before investing in cryptocurrency you must do a good analysis and then invest in cryptocurrency. If you invest on impulse, you will definitely face losses instead of profits. You invested with different Shitcoins in 2021 when the cryptocurrency market is hype right. Investing Shitcoins at that time would have yielded a lot of profit but if you hold them later, they are sure to disappear from the market or become zero. You are never likely to profit from them. So it is not right to invest in any crypto currency on impulse without analysis. . I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. I think I am not for crypto 
2021 I started my journey here in crypto, I was lucky because I was able to invest in other cryptos before it went all the way up. NFTs, P2E games, airdrops and hyped shitcoins lol. Of course I earned a lot and since it's my first time I became very confident thinking I'm so smart lol .
Being confident is actually good for our life, but exactly, being over confident will probably make different results and expectations. Moreover if over confidence is plus high egoism and without any wise decision, in investing these will be really risky. It is so pleased that you are aware by yourself of your mistakes, at least, if you are still going to continue, you have taken the experience and will not do the same mistakes again. But if you have given up and are not for crypto again, this may be the best for you. At least, you have learned much, not only in the crypto world but also in anything, you must be wise, not over confident with a high ego. If you want to continue in crypto, just ensure that you are ready, learning more again, and not investing in hype or shit coins again, focus on Bitcoin. . 2021 I started my journey here in crypto, I was lucky because I was able to invest in other cryptos before it went all the way up. NFTs, P2E games, airdrops and hyped shitcoins lol. Of course I earned a lot and since it's my first time I became very confident thinking I'm so smart lol . I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. I think I am not for crypto .
. I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. I think I am not for crypto . Everyone must have good or even bad memories of getting to know crypto.
I was a careless person when I first got to know the cryptocurrency world.
Because I just casually invested in some altcoins which ended up earning nothing and even losing.
Maybe you should also add that lack of knowledge, overconfidence and having too high expectations are bad things to start investing in crypto.
Apart from that, sometimes a person must be faced with mistakes so that a person can improve himself and can make valuable lessons to be successful.
2021 I started my journey here in crypto, I was lucky because I was able to invest in other cryptos before it went all the way up. NFTs, P2E games, airdrops and hyped shitcoins lol. Of course I earned a lot and since it's my first time I became very confident thinking I'm so smart lol . I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. I think I am not for crypto .
. I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. I think I am not for crypto . No man has it all when it cones to cryptos. We have our sad sides to share too of how we have lost money. Cryptocurrency investment is a luck type of investment. You can invest today and be in huge profit faster than someone who invested months before you. Sometimes it is even on the same token but at different time of buying it. When we get lucky and make money from cryptocurrency we should not start acting all too knowing and smart. That is the lesson we all should learn from your story.
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2021 I started my journey here in crypto, I was lucky because I was able to invest in other cryptos before it went all the way up. NFTs, P2E games, airdrops and hyped shitcoins lol. Of course I earned a lot and since it's my first time I became very confident thinking I'm so smart lol . I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. I think I am not for crypto .
Hmm, this is happening to all. I assume only a few people in crypto can say they are not facing this in their crypto life. I also lost the chance during the 2017-2018 bullish market. The thought was the same as you, and hold them for becoming a millionaire lol (kidding). But my bad I was so stupid and lost them all due to the bear market starting. . I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. I think I am not for crypto . 
You've made your point from you're statement, you invested carelessly. Investment should be well thought out, crypto investment requires you to have a basic knowledge about the volatility of the market and how to navigate it, so you won't get your fingers burnt.
Don't say crypto is not for you, rather seek to increase your wealth of knowledge about crypto and this time around invest carefully.
Don't say crypto is not for you, rather seek to increase your wealth of knowledge about crypto and this time around invest carefully.
2021 I started my journey here in crypto, I was lucky because I was able to invest in other cryptos before it went all the way up. NFTs, P2E games, airdrops and hyped shitcoins lol. Of course I earned a lot and since it's my first time I became very confident thinking I'm so smart lol . I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. I think I am not for crypto .
. I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. I think I am not for crypto . Investing in many ways is not careless, but before you invest in any coin, you should find out more about the coin you are investing in, and thinking that you are too smart and invested in any coins you see without being asked is not a good thing and a very risky idea to yourself, sharing your ideas with people will give you more confidence to invest in any coins that are very important and earn a lot of profits, I advise you to ask before you invest in any cryto coins.
2021 I started my journey here in crypto, I was lucky because I was able to invest in other cryptos before it went all the way up. NFTs, P2E games, airdrops and hyped shitcoins lol. Of course I earned a lot and since it's my first time I became very confident thinking I'm so smart lol . I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. I think I am not for crypto .
You're for crypto and you even made great with your first investments. Just think of it as a hard lesson for you to be learned that in this space, you need to be wiser than you were before.. I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. I think I am not for crypto . That mistake you've done is the common mistake of what everybody is dealing with. When we make profits, we tend to think that we're the most genius trader and investor in the world and that adds to confidence to ourselves.
In return, we're like just throwing our money on every investment that's not really essential thinking that the same result will come but that's not what's happening.
2021 I started my journey here in crypto, I was lucky because I was able to invest in other cryptos before it went all the way up. NFTs, P2E games, airdrops and hyped shitcoins lol. Of course I earned a lot and since it's my first time I became very confident thinking I'm so smart lol . I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. I think I am not for crypto .
From your story line I didn't see anything connected to ego but ignorance and greed, particularly from someone that's wants it all by all means presented to you. There was was no attitude or mentality to learn, to do few research about what you were about to get into, all you wanted was just to earn without putting in energy to first learn. And that was the cause of your careless investment and not that you are not for crypto. . I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. I think I am not for crypto . 
Many go through their experience and disappointment. It's good to be confident, but you don't have to be overconfident. You used to be a fan of altcoins, which tend to turn to dust when the market moves, but why didn't you settle for Bitcoin? I think you would have less disappointment and the conclusion that crypto is not for you.
2021 I started my journey here in crypto, I was lucky because I was able to invest in other cryptos before it went all the way up. NFTs, P2E games, airdrops and hyped shitcoins lol. Of course I earned a lot and since it's my first time I became very confident thinking I'm so smart lol . I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins.
You got lucky to win with your first investments, first months in cryptocurrency in 2021. With NFTs, P2E games, I think you got luck with them when you joined their projects very early. Because I think with Play to Earn tokenomics, the later you join, the more loss you will have and you will less likely get profit if you joined those Earn projects too late.. I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins.When tokens unlocked by vesting schedules, people own those tokens will cause dumps on the market. I don't think joining NFT projects is good but if you join, watch their token vesting and unlock schedules.
https://vestlab.io/
Rug pulls are popular with shitcoins that only listed on decentralized exchanges. When their teams done to collect money, they removed all liquidity on DEX and you have lot of tokens with value is mostly zero.
I hope you learned it and will only invest in Bitcoin.
2021 I started my journey here in crypto, I was lucky because I was able to invest in other cryptos before it went all the way up. NFTs, P2E games, airdrops and hyped shitcoins lol. Of course I earned a lot and since it's my first time I became very confident thinking I'm so smart lol . I have more money to spare,
. I have more money to spare, in 2021, I still remember how excited the crypto market was, at this time the bitcoin price skyrocketed to penetrate the ATH and even dogecoin skyrocketed because of elon musk. people who are used to investing will definitely understand when to buy or sell and those who are lucky will definitely sell and wait for the market to go down.
so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. I think I am not for crypto .
. because you were a beginner at that time, the location of your mistake was that in your knowledge about crypto still a little but your greed was really big. if you give up, haven't you wasted your time and money in crypto, learning from your mistakes is a wise thing imo, running is only for losers.
You don't spend enough time on crypto and at least you have learned what is lacking in you. I don't think it is quite a good time for you to leave. You have earned some amount already and could achieve more with the knowledge you have gained.
You introduced bitcoin/crypto at a bullish market, so it was very likely for you to get a good return from your investment.
You introduced bitcoin/crypto at a bullish market, so it was very likely for you to get a good return from your investment.
The reality of crypto markets is that when there's a Bitcoin bull market, it's easy to make profit, because shitcoins follow Bitcoin and grow too. Then the bear market comes and it's better to pull of out crypto than to look for a coin that will perform well in bear market. But many market participants don't see this pattern, they naively expect a bull run only 6 months or a year after the ATH, they hold their bags in bear market waiting for the reversal any day now.
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Of course I earned a lot and since it's my first time I became very confident thinking I'm so smart lol . I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins.
Your are not only the one person who lost money for that reason . It's not only about the over confidence when one person will go for trading on his emotions they will always face loss, Some exceptions happen that are just for the good luck . And here are many people who mistakenly think that luck is their skill and the they go for trading and endup with facing loss. I'm guessing the same thing happened to you.. I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. So I would say bring your own mental self-control and get some proper knowledge about trading and well research before in every trading then go for trading. And always keep in mind that trading is always a combination of profit and loss.
2021 I started my journey here in crypto, I was lucky because I was able to invest in other cryptos before it went all the way up. NFTs, P2E games, airdrops and hyped shitcoins lol. Of course I earned a lot and since it's my first time I became very confident thinking I'm so smart lol . I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. I think I am not for crypto .
Don't be too quick to think that you are not for crypto, because crypto is always open to everyone so everyone is strongly advised not to make a hasty decision when they want to buy something or when they want to invest in something. . I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. I think I am not for crypto . Maybe on occasion last year you were just a little misguided or down the path you took by liking shitcoins and airdrops whose futures were respectively very worrying. But at some point in the year, you still have the chance to see better Bitcoin and coins than you have ever bought before. So don't give up too soon if you still want success through crypto.
2021 I started my journey here in crypto, I was lucky because I was able to invest in other cryptos before it went all the way up. NFTs, P2E games, airdrops and hyped shitcoins lol. Of course I earned a lot and since it's my first time I became very confident thinking I'm so smart lol . I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. I think I am not for crypto .
Investing is not about lifting your own ego and building too much confidence, it’s about being knowledgeable and mindful in everything that you do towards your investment. So if you only invest because you have high confidence that you will always win over the market, you have a wrong mindset. Investing is like gambling, you have to invest only what you can afford to lose. So if you think you only have confidence but never had the required knowledge and skills, then it’s better not to invest but gain knowledge first. . I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. I think I am not for crypto . Jump to: