Topic: How you deal with your emotions after losing a lot of money on rug pulls? - page 3. (Read 373 times)

Risk must be accepted if we invest, mainly in shitcoin, which is likely a scam. I have been hit by several rug pull projects but not in large numbers because I am afraid to take significant risks. I can't imagine what happens if I lose a lot of money on shitcoin projects, I better use that money for trading coins that have a large market cap.

When this happened in my initial days of investment I used to get away for at least 3-4 days from the trading platform and also from the crypto space as whole. I used to get involved more with my real job and always had negative clouds over my head regarding crypto. For example always saying myself that crypto is not place for me, trading is worst thing to do and I can end up loosing all my money.

However, once I used to get refreshed I would jump in again. Read the articles, forum comments and one thing I started to notice is peeps here has lot of patience and everyone started talking about holding your crypto rather than selling it. So followed those formulas and they sorta worked for me.

But on an average I have had break downs of 3-4 days.

Most people suffer from the pain of loss, but human natures differ, some of them take a long time to forget, and others are more tolerant and forget quickly, each person has his own nature, so you have to be who you are, no more. I also had a hard loss a few days ago and I was very frustrated and even now I feel pain when I remember the money I lost in Shitcoin, but I try to forget what happened and move on, this is the only thing you have to do and you should focus more on the things that caused you to lose to Don't repeat your mistakes the next time, so the loss can turn into a paid lesson.

It will generally take a few weeks for you to digest the fact that you lost the amount. After a few weeks, you will start to let it go.
Once you let it go you will start to realize that how silly it was of you that you ended up putting in that money in all those rug pulls despite knowing the risks.
You will then decide to research wherever you put your money in. Then you will completely forget about the losses and move on with the experience.
This is how we learn from our mistakes.

To be honest it is depends on how long i lose until that amount of money. If lose in a short time, maybe need a weeks for me to be in normal condition for trading. Maybe people will ask,  how you get profit back if need that long time to trade, for a note i have main job beside trading so i still can fulfill my daily needs. But once again, $2000 in short time will made many people dropped at first and need long time to recover their mental.

If you want to trade, you have to fix your mind first. Never do anything with emotion. I also lost a lot of money due to emotion. I used to trade for a long time. But now I have chosen short trade to get back the lost money. I am taking profit by doing some things. If there is loss, I will sell it in small amount. I am moving forward in this way. If you want, you can use this method.

A very useful thread for those who are in Alts. In fact, the Mods should probably have a separate mental health and support section for people who are in Alts and NFTs. A lot of people have shared already. The problem with Alts isn't just rugpulls. Rugpulls are the most obvious form of treachery. The most annoying are those slow rugpulls where the team will slowly stop communicating while dumping the tokens and keeping hopes alive. Then there are the obvious failures which you know in your heart will fail but you continue with them.

It is indeed hard to deal with. Thankfully, I haven't had too many such instances because I never invested too much into Alts. I only ever try to be part of community and find ways to earn, rather than invest. Its a very slow grind and is one of the reasons I have not really made much despite being in this space since 2017. I see it as pocket money but I'd be lying if i say that I don't mind that straight up degens have made it.

I have just accepted that I don't have the kind of risk-appetite needed for this. Those who can take the risk and then get out with the profits have to be mentally very strong because you WILL lose money. There will be missed chances that will eat away at your soul, lol. This is definitely a tough space and a tough spot to be in. I wish there were no rugpulls and no scammers who collectively work in teams to play their game of deceit on whole communities.

I just hope that hell has a special place reserved for those idiots. LOL.

If you have been rug-pulled and lost money then just know that you are not alone. There are a lot of us and I understand. Just accept that in life, you win some and you lose some.

Just move on and try to recover those loses if you still have the heart to go on. But for me, I try to loosen up and get a beer. Get some hangovers then after that, go back to trading. Set aside those loses as it will serve as your stepping stone to your financial freedom. Let that serve as a knowledge and learn from it.

I will leave the market for a while and do something unrelated to crypto if I lose money, no matter how much the amount is because my tension will become high. If I don't control myself, I am afraid that I can lose everything and I can't start trading in the next few days. It needs more practice to control the emotion and can't do that in a short time, but learning to control emotion will be worth doing as that can help us reduce the tension in trading.

In general it is like that because the fraud occurred based on the intention and willingness of the team to carry out this, because there were also projects that initially looked very good and very promising, but in the end turned into a scam and this could not be identified at first.

We all know it happens with many new projects and it's hard to analyse in the first sight that project will keep growing or rug pull So in my opinion we should wait for the project to flourish rather than an Earlybird investors it's just my opinion even all project are not like that but it's hard to identify such scammers who intend to rugpull.

I think the sense of loss in the crypto world is unavoidable, but as a human, there must be guilt and irritation if you lose
it took me 1 week to be able to forget this incident for sure, and I was silent while thinking ahead how to get my money back in a fast time so that the money flow didn't stop,

I myself, have been involved into a lot of shitcoins or memecoins too. I've been rug pulled several times by projects with good website and use case to be honest, and with a team that is very active in the chat group (answering questions) but still ending up a rugpull, slow scam or slow rug. And yeah I've lost money to most of them, but only the amount I can afford to lose. I don't put large amount of investment until I find assurance that I can trust the team of people behind.

And answering the question how I deal with it? forgive and forget, moved on and focus on what's ahead. Focus on how you can bring back what you lost.

I remember there is this one time when I got rugpulled and there is this one brave man that is willing to bring back the project back to life through launching another token, compensating those people who also got scammed thru airdrop. And after a week, we recovered our losses thanks to this very brave man. And you know what, you can try what he did, to also have the courage to bring back a dead memecoin to life. Who knows what will happen, there is a possibility of you getting more profit at the end.

Being an investor it should not bother too much to be honest because we should have analysed all those things before investing our money and the amount depends on every individuals. Just move on and keep telling yourself that never repeat the same mistake again by going with the short term hype and also we can prepare ourselves to overcome this loss with previous or future returns from our investments so just forget and move on because regretting will put more pressure on ourselves and will become a barrier of our other works.

I am trying to be easygoing in terms of losing so even when projects that I have invested in turn out to be scams or they are hacked. I just don't care about this and continue working. So as to take losses calmly you should invest money that you can afford to lose. What is more, it is nessasary to power close researches before investing so as to decrease risks. 

I know it isn’t easy for us to get over or move on with these rug pulls, but I wanna ask the community here. For the past few months, I’ve experienced the “expect the unexpected” moments without warning. To be honest, I have accumulated losses of more than $2,000 in failed meme coins, shitcoins, play-to-earn games that ended up being rug pulled.

I am aware of the risks and the amount that I can afford to lose, but it’s just that I find it hard to make that money back that I have hardly earned. But good thing I didn’t go all-in with my entire savings, and that’s a good thing. I just can’t resist myself from being emotional despite that I’m aware of the risks, and my heart was emotionally hurt too.

I wanna hear from you guys on how you deal with these rug pulls after losing huge amounts? Like how many days can you get back on track after being so emotional? Or what you’ve been doing in order to move on faster after you lost money on these rug pulls?