Topic: How you deal with your emotions after losing a lot of money on rug pulls? (Read 366 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...

I have never experienced rug pulls since I'm that picky for projects that I invest and mostly, I'm just a holder. But if I'll relate this to the scam that I've invested in years ago, I just moved on and thought of it that there really are mistakes that I have to learn and won't do the same thing again. Although the amount you've lost is higher than mine, that hard earned money of mine was also hard to accept that I've been fooled and also once a fool in investments. You can keep it up and learn the lesson and only invest to the projects, don't ride the hype too much and be contented with what you're invested currently.

The scenario of losing money is really bad for most people, specially if the money is important for their everyday living. We can't tell that they shouldn't be anxious, angry or remorse about the lost, we have different level of sensitivity.
But to deal with that lost, one should study about the project before investing on it, and he should be ready that the money could easily because of crypto's volatility.

"Don't invest what you cannot afford to lose".

leaving the market for awhile will make you to think seriously over your lost, but looking for the loophole were the market Affect you should have been the best fact to follow because of next time, nobody can lose money and be free from pains he or her will look for alternative to subdue it in case of time

There is no point in losing money and getting angry or anxious. Rather, it is better to think about how to recover from loss by calming the mind. I use one part of my total funds to invest and save the other two parts to deal with unavoidable risks. There are different trading strategies that should be followed.

that's what i didn't do when i invested in several ICOs before. i should have sold the tokens when they still have value in the market. hoping that one day they can recover but that time didn't come. and up until they have been delisted. it was ok for me because i didn't spend a lot of money, but of course that was still money that i should used in more worthwhile projects.
what you can do in this situation is really move on, look for other options and not dwell or linger on that mistake. look for other means how to earn those funds back, even if it will take time to accumulate again but you need to do something and not just blaming yourself and dwell on negative things. you will get depression if you focus on those mistakes.

Well if it's a slow rug pull, it's more difficult, as you are in a state of denial for a long time. But at some point you just need to move on. Accept that you have made a mistake and the amount of money you lost is like a paid lesson you took on avoiding scamming. Just be sure that you won't pay too many lessons to graduate.

I have had my share of the rug pulls which comes in so unexpectedly and all I do is close my chat and go to sleep after I have succeeded in taking a calming nap I revisit my chat to see the ATH and ATL then know how long it would take to bounce back the outcome be of my new analysis will decide if I hold on or sell off.

There is nothing you can do about that, think twice when you invest again in new projects. Follow the team, when a team is planning to move on with the project while running away with the investors money, you can identify them with lower response in their communication channel and once you feel that kind of situation, just sell everything and move on as there is nothing you can do about that.

As an investor, I understand that I can not only increase my savings, but also lose my investments. To avoid this, I invest small amounts in different projects. If I lose in one, then others, I hope, will be able to compensate for my losses. And of course, before giving my money away, I carefully study each project.

I deal with it like everybody else, by pouching a hole trough the wall. This is seriously a huge problem nowadays and is making legit projects with potential slip in to the mist and be overlooked.
The thing with crypto is that there is always that next new exiting thing that will attract you with huge gain potential and we are making scammers job way too easier by being too greedy.

I got ruged pulled one times minth ago. After i realised i got scamed i leave crypto world for month before i started again. I dont need years to comeback because the money i put in to investing is the cold money not my daily used money.

OP's experience reminds me of the saying, "The downfall of a man is not the end of his life." However, I always have a twist to that axiom by adding that it depends on where the man falls. Jocularly, if he falls on a concrete floor with dangerous metals with spikes littered everywhere; the fall could be fatal. The good thing is that OP even had a safety measure put in place too as indicated in their quote down there 👇

Truth remains that no one is ever happy losing money, no matter how small that is. But then, it's needless crying over spilled milk. I just move on, armed with the sad experience to be used as guide for further investments.

you are not alone, I also lost several thousand dollars from defi and shitcoin projects

when the hype token meme I was very stupid to invest in it and it ended up in disappointment

I'm lucky to have a permanent job so I'm not so worried about the next month and I'm also sincere and feel that it's a risk I have to accept when in the crypto market

Rug pulls are already a risk in cryptocurrencies. I think I can only be patient and wait if you have been hit by this trap and even sincerely. Look at the example of those who are exposed to the squid game token phenomenon and immediately thrown into worthlessness because of their developers. Even other shitcoins will do the same.

honestly it is very upset and downed my mentally but nothing i can do if facing this situation because this is the main risk to joining at crypto world especially if we play at meme coins because rug pulls currently were dominates from those coins but regretting cannot give my money back so make it as valuable experience to avoid that situations repeatable

First, I am sorry about how much you lost on these scammers. It cannot be stopped there will always be those kinds of people that cannot do anything good in their life but instead use all their knowledge in bad ways.
Now, how to get over it. You have been into cryptocurrencies for a long time and I bet you really knew the answer but just want to hear it again from us.
You move on, let this be a lesson to take care of your funds once again. 
Be a newbie again. That's is what I always tell myself whenever I am becoming arrogant because I know things better than others.
Because when we are newbies we put all our effort into DIY research until the last drop and prove it's less risky than other projects.

you can do nothing to get back your money, forget it and move on. There are lots of ways to get fresh money again from the crypto. If you have made a mistake and then forget it. If you are still remember it and that will be only preventing you to generate new money from the market. Your funds that got rug pulled will never back. I have lots a few hundreds thousands dollars and i was only forgetting it.
You may feel regret but this is useless.

It takes me a few hours and i can control my emotion. I have been loosing in crypto so many times but i were always doing so well after that. The fact that if you can control your emotion and you can make decent money from the market. You must try to get legit way to do that. Just try to motivate yourself if you have a target that must be reached and losing your funds will not stop your motivation to achieve your target.
This may help you a little bit.

From onset I always ensured that I will bear the consequences of the risk involved in any investing meme coin before investing in it, once a loss is incurred I move on though it is not easy to get over those losses, although getting over it out my mind will last just a week and wouldn't have the filling of trying to recover those losses quickly doing so would add up to more losses, however I can never invest in it with a big fund, just with a small fund  that I can afford to lose, however you just have to erase that memory from your mind and have a positive thinking and look forward to other numerous opportunities ahead.

The risk of investing in coinmeme and shitcoin is true, every investment must have thought about bad things that might happen. you should now just accept the pull of this carpet by assuming that luck is not on your side now, and lucky you because you still have hope with the savings you still have. you can forget the losses you have experienced and continue your business with more caution in the future. Don't think too much about it because this can be a valuable lesson for you in the future. Spirit!

It's really hard man. Hard earned cash is just too painful to lose and there's just no easy way to deal with the negative emotions when a rugpull or failure happens. One thing I do though is to remove evething regarding that project. Socials (discord, tg, etc) and other traces that will remind me of that project.

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?