Good thing, I don't invest in defis and if your story is true and you've lost most of your money from investing with those projects and following influencers blindly.
You're brave to get up and stand on your own. The lesson that you're sharing to everyone is important and if there's someone that won't listen to you and is standing on the same situation, he has to learn from you.
I admit a lot of people lose money by following influencers blindly, and I'm lucky not to do that. Because when we decide to trade or invest, don't depend
on other people, because other people's predictions are not necessarily accurate. We must be able to do our own research and analysis, because indeed
we have to rely on our own abilities and knowledge to succeed in the crypto world. Then make the experience of others as a lesson for us, so as not
to make the same mistakes. Regarding DeFi investment, I don't do the same as you, because for me the DeFi project is very risky for investment.
I prefer investing in popular coins, such as Bitcoin and Ethereum, which are proven to be safe and can generate large profits.
Reading the experience of others, made me not follow that type of strategy of following influencers blindly. And just like those influencers, we also know if we're doing research for our investments in cryptocurrencies.
Good thing, I don't invest in defis and if your story is true and you've lost most of your money from investing with those projects and following influencers blindly.
That's the problem, traders don't invest they trade. Any trader that knows what he's doing should have gone out of the market when the signals started showing of a downward movement for defis but many didn't. They got caught up with the whole hype surrounding Defi and didn't want to miss out which turned them into investors. Funny thing is they couldn't hold for the market to recover so they sold in losses inorder to prevent further losses instead of just holding. Those who held later got rewarded but those would couldn't lost heavily.
As a traders what you're after is the profit not minding what the project is working on which is why traders could easily profit form any trend before it crashes but this is a risky way of trading which if you don't have the experience you shouldn't involved yourself. Stick to trading project with fundamentals until you're sure you can do well in the new trends that can be very volatile. Many traders profit from the Defi hypes, especially if you use the strategy of trading newly listed Defi related projects on well known exchanges like Binance or buying before the news git announced.
They cannot control their emotion if they're selling at losses. Those traders still need to gain experience so they can easily control and manage their emotions if they don't like what's happening with the market.
