Topic: How you deal with your emotions after losing a lot of money on rug pulls? (Read 373 times)

Perhaps it's a good idea to review your investment strategy if you're subject to multiple rugpulls? Just a suggestion.

If your DD actually works and such you should never have to deal with rugpulls because the majority of the projects you come into contact with are going to be legitimate projects even if they don't end up giving 100 bagger profits.

If you are sure that your DD is fine and it's just bad luck, just keep at it and don't throw in the towel emotionally.

Just take a vacation.. Lol and next time never trade or invest your money in some altcoins that clearly for hype only in the market.  Indeed pull rug always happened in a new projects. So never dive in without making technical analysis nor without strategy, leason learn especially if you see such events again wherein don't put your money easily and don't be greedy!. Think about it first because fomo always exists without knowing when it comes new projects.. So be aware next time..

I think every time we decide to invest, prepare yourself for losses because that will be inevitable for the whole time you are investing. We should not always expect for profits, otherwise we'll be living in pain for sure. Because either we tried controlling it or not, emotions will always come out every time we are feeling intense. So the best way to avoid this is never invest what you can't afford to lose, and always learn from all your mistakes so you won't be repeating the same mistakes again.

I try to be separated from my investments. It demands a great discipline and it makes me stronger when I don't have any emotions connected with money. I try not to think about losses if I have them. We should invest only such sum of money that we can afford to lose, this way, you will not be left without money needed for life. What is more, it is experience anyway, so you should take it into consideration and be more careful next time.

No matter the amount of money involved, it always give me a negative emotion because I thought I ought to have seen it coming but it is something I have now learn to manage by convincing myself that in life generally and in Crypto particularly such things are unavoidable if one is to succeed.

Always invest as little as possible in any project because despite all your research about a coin, they can still fail. Diversify your portfolio such that the few rug pulls that will happen will not result in major losses rather the good coins will give you enough profit to forget about the failed projects.

Losing money is always a part of any investments scheme. So, before we enter into crypto investments, we make sure to take risks and negative possibilities so that we could bear what we lose. Although it's hard to accept when we lose money however it could be the way for us to motivate and improve so that we learn the mistakes from it in order to make it right next time.

If you invested what you can afford to lose, you'll be ok within a week but if you put too much on a project and hope it will yield you a lot of profit and you miscalculated or misjudge a project, I don't think a week is enough it will take time to process your losses and get back the trust in the market, it happens to me once it took me months before I can look on a new project and invest.

First of all, you shouldn’t use money that you can't afford to lose. Also you should always keep it in mind that the project you are investing in might be a scam so always be ready for the worst so as not to get upset too much in case of loss.
Also you may need to revise your strategy, maybe you need a more conservative one and cease investing in new projects so as not to have such big risks.

That's too much lost. You should've just held your 6 ETH in total. I won't put into any project a coin that I'm believing that has a better future. You already have the gold for alts but turned into fake brass and turned into dust.
It's regretting if you look back into that experience especially if you're going to compute how much those ETHs would be right now. But, it's a lesson that you'll also benefit in the long run as you won't invest anymore to those projects on hype.

What else anyone can do other than learning from it since it already happened anyway and keep regretting the decision will get you nowhere.
Your rage will eventually subside and you should just move on and if there is any financial problems caused by your decision of investing to such coin that did rugpulls then you should fix it.
I know losing money to scammers is really devastating but it’s also the main reason why so many veteran traders out there always keep telling anyone to stay away from coin thats speculative and made just for memes or something like that.  at least now you should be a lot more careful when it comes to investing like this since nowadays scammers are everywhere, you need to give more attention and be extra careful than you was. Other than that, just try to invest in a legitimate investment rather than trying some random coins like that which brings no benefit at all, its better if you stay investing in a regulated investment that’s guaranteed legit.

My story is connected with investing in 2017-2018, it was fresh and the faith was strong. Then there was a downward trend and my faith was shaken and I managed to withdraw some of the assets, but then I did not have time to re-purchase and make a profit out of growth. All that remains now is to wait for the trend of bears and try again.

I've been losing a lot this current dump through futures and I know what it felt like. Well, for me I just leave it behind my brain and have no contact in binance since I got liquidated. I've been thinking of drinking just to forget about it but it'll just probably give me headaches afterwards so yeah I just played games and trying to forget my losses. Will probably enter the market once I have the capital again.

Situations where you feel bad emotionally is something that is normal with life. It’s not only something that happens when you are trading cryptocurrency, on a normal, it do happen even in other areas of life. So, I believe that this is something that everyone should try to get used to. And before you start anything like investment in cryptocurrency or any other type of investment, you should have it in mind that you’re about to take a lot of risk and you should also be ready to bear whatever emotions that coms with the risk. It's not going to be easy, but you still have to deal with it

I’ve experienced a situation like this, especially when I was still a newbie in this community, I lost a lot of money and I have no other option than to deal with it because I understood the risk that were involved before I started investing. But as time goes on all the mistakes I made became a stepping stone for me to keep progressing.

Sometimes I feel it hard to deal with my emotion after losing money in trading. But then, I realize that is what I will get if I do not carefully analyze the coin and if I do not learn for more, I will get another loss in the future. I just stop trading and do something else that is not related to crypto because I want to reduce the regret tension. So far, it is working for me but if you want to do the same as me, you should search for another thing that can help you deal with your emotions.

80% of your investment should be in proven coins like Bitcoin and Ethereum. Some exchange coins like Binance and Kucoin are safe bets as well.
If you want to mess around with shitcoins then 20% of your investment should experiment with risky shitcoin altcoins.

You said it yourself. You invested in "meme coins" and "shit coins". You knew what you were doing. You just wanted to make some huge profit over night. So you should have known that you might lose everything overnight and this is more likely to happen rather than making profit. So why is it hard for you to move on?
The best way to deal with your emotions is to be already prepared. Instead of thinking that you are making investment, you should be thinking that you are donating your money to scammers. This way you won't feel bad when you get scammed.

If you invest in shitcoins/memecoins then rug pulls are part of the risk you take on. If you have a problem with rug pulls you should stick to legitimate and useful projects rather than some random altcoin that is being pumped.

These types of random altcoins are something you put money into that you don't mind losing, and you get out of quick on a pump. If you don't do these things and you get rugged, well you didn't know what you were doing in the first place. Granted it always sucks to lose money, but you have to understand thats a possibility going into it. If you put your money into stuff like this you need to know going in that you aren't investing, you're gambling. And the gamble is that you can get more money out on pumps of shitcoins than you lose on those that crash or get rugged.

Unfortunately I think noobs don't understand the difference between investing in legitimate things like Bitcoin and some other serious projects, and gambling on memecoins and other shitcoins that anyone in the industry could make in a weekend. Everything going under the label of "crypto" confuses people into thinking buying some random alt is no different than owning Bitcoin. Crypto really needs more labels. It should be separated into Bitcoin and Crypto. And then the Crypto section should be separated into something like platform tokens, app tokens, utility tokens, and shitcoins (which encompasses memecoins and outright scams, along with all the useless failed projects that went nowhere).

Anyway, sucks for anyone that gets rugged, but no one who gets rugged should be surprised, just like (more so a few years ago) if you're using random small exchanges you can't act surprised if you lose your money at some point. Happened to me once in like 2014, almost happened to me again in 2017 - luckily got out of that latter exchange weeks before the FBI shut it down. Back then there were no regulations so you used smaller exchanges at your own risk. Today you buy memecoins and random alts being pumped on twitter at your own risk, knowing full well that what you are buying has no actual use and you are just hoping to make a quick profit to someone who heard about it later than you did. Occassionaly those things are going to be outright scams.

This is why you should never put much money into stuff like this, and certainly not much money into a single random altcoin. Problem is that people are gullible and get led to believe some random alt is the future and so they start believing in it when they should just be putting their money into Bitcoin.

Drinking heavily?

Last year I invested 5 ETH on a new coin which was so hyped. The coin was Xfinance, It was pump from $20 to $250, then they announced one more coin, invested 1 Eth on that too, after 3 days, the owner has dumped all his coin, and took all money and ran away. I lost so much money there, So I know the feelings.

Not much of a dealing with. It is upsetting and devastating but one has to have the willpower to move forward.

It can only be a hard lesson learnt. There is certainly no point losing your sanity over something like this. You can make more money but you can't recover from a dark state of mind, or the worst case scenario...