My Altcoin experience and Lessons - page 2.

blockman

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Quote from: aioc on February 11, 2022, 10:56:59 AM

It's ok to be greedy if you are greedy on the right coin, but if you are greedy on coins that have not proven themselves in the market and just riding on the trend or the hype, then you are in big trouble not moderating your greed, the guiding principle in investing is always investing what you can afford to lose and if you have a big appetite for risk then be greedy when the market is on fear, I also have a share of being greedy if you're investing in a new project and on what's trending you'll inviting yourself to be in trouble.

I would stay choose to sell and won't be greedy with any coin that I hold. But it's understandable of being greedy for the right coin like there are the bitcoin holders.
Many of us here are thinking of $100k and that's the goal of the rest of us. It isn't greedy if you're going to wait for that price. It is the aim that you're targeting and you're totally fine waiting for so long until it happens. The sense is that, bitcoin is a known best investment unlike the other altcoins that you might feel the same but your wait could be put into vain.

hd49728

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With altcoins, you will face with many risks
- Many altcoins are pump and dump coins
- Altcoins mostly are shit coins
- Altcoins mostly have infinite total supply so they are inflationary like fiats
If you invest in shit altcoins, you will get serious loses and worst your portfolio will be fired and vanished if their values fall to zero.
For good altcoins which can rise in values, you can get profit in USD but in BTC values, you will get loses. They can increase in USD value but in BTC value, they have dramatic falls.

Johnyz

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Quote from: Bitstar_coin on February 11, 2022, 10:15:54 AM

It is true for some and not for all, and this theory applies mostly to certain alts, if you use HEX as an example what about alts like bnb, avax, sol and the likes of it, I agree taking profit is important but this method is not for all alts, sometimes you can regret your action, to me HEX was not that type of alt to expect too much from to begin, so I think you made the right choice.

We all have regrets on selling early, but if you always think that way maybe this market is not for sure since cryptomarket is very volatile and you should learn how to accept the fact that you can't always win on this market, you can't really know the next trend of the market so if there's a chance to take profit just do it, you can always reinvest and this is more important honestly. Having that kind of strategy is fine, because it works to OP and if he continue to do this, I'm sure he will succeed in the future with this consistencies.

aioc

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Quote from: Wiwo on January 04, 2022, 05:45:21 AM

My altcoin Jurney has been full of excitement and lessons and in this thread, I reflect on what I have experienced and how I was able to manage my risks and uncertainties and come up with little or no losses in my altcoin portfolio.
The most important lesson is never to get too greedy once your investment made a certain profit just cash out and move on rather than waiting on the big 100x profits that may never come and can lead to losses if the coin gets dumped.

It's ok to be greedy if you are greedy on the right coin, but if you are greedy on coins that have not proven themselves in the market and just riding on the trend or the hype, then you are in big trouble not moderating your greed, the guiding principle in investing is always investing what you can afford to lose and if you have a big appetite for risk then be greedy when the market is on fear, I also have a share of being greedy if you're investing in a new project and on what's trending you'll inviting yourself to be in trouble.

Scripture

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Quote from: ?? on ??

That really happens for everybody.

When we see the profits are already there and we're not greedy, we tend to sell even it's not that much but as long as we can get back our capital, we're good with it and any amount in excess is already a profit.

It also happened to me but I just don't look back at it and move on, this is crypto life.

This should be the practice of everyone, we can earn and lose money here in this market we are trying to to become more productive everyday but of course, the market is unpredictable and you can't always win.

What's good here is that, we learn from are mistakes and from our experience this can strengthen you and make you a better investor/trader in the future. Never give up, just keep on hustling and you will be better soon, just take the process slowly but surely.

Bitstar_coin

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It is true for some and not for all, and this theory applies mostly to certain alts, if you use HEX as an example what about alts like bnb, avax, sol and the likes of it, I agree taking profit is important but this method is not for all alts, sometimes you can regret your action, to me HEX was not that type of alt to expect too much from to begin, so I think you made the right choice.

deean_3one

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Quote from: Wiwo on January 04, 2022, 05:45:21 AM

The most important lesson is never to get too greedy once your investment made a certain profit just cash out and move on rather than waiting on the big 100x profits that may never come and can lead to losses if the coin gets dumped.

Yes this is true. Use common sense in the search for profit. Don't be blinded by the ambition to make more profit. It can lead to loss and regret.

Ceyflix-Rez

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You've said it all OP you've said it all, been too greedy is why many of us are not in a better place right now crypto space is always full of opportunities but been too greedy will make you regret your decision, I would have become a crypto millionaire this year already but I failed to take profit

makishart

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Quote from: Wiwo on January 04, 2022, 05:45:21 AM

The most important lesson is never to get too greedy once your investment made a certain profit just cash out and move on rather than waiting on the big 100x profits that may never come and can lead to losses if the coin gets dumped.

Don't you think this statement was contradicted with your experience? your story was telling me that if you can become a long term hodl and the price will be even bigger rather than become the short term hodlers. That doesn't make sense if you are saying just cash out it once you made some profit but look at your story.

Quote from: Wiwo on January 04, 2022, 05:45:21 AM

Take Hex coin for example I invested some amount in the coin when the project first launched with a very low price of 0.0005

Bought around 2 millions hex at this price

Quote from: Wiwo on January 04, 2022, 05:45:21 AM

and I bought around 50k of the coin that was a $25 investment at that time but the same coin raised to 0.49 in 2021 before dropping back 0.24 at the present price, let say I sold my $25 investment of 2 years at the peak price of $0.49=$25,500 that could have been huge profits but guess what I sold at the $0.005 which is much less but lessons learn always make the right decision at the right time.

I have sold my stack at 10 - 20 cents price range. Good profit and then im jumping to another coin. that's proven that sometimes long term hodling was not too bad. So many millionaires came from the long term hodlers and you must see how long term ethereum and bitcoin hodlers have become new millionaires.

oemar bakrie

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I just want to add that all of that requires patience without any definite expectations, sometimes something we can't expect later and is a waste of time while waiting..
.because many people have this kind of experience.They are too passionate but will not get much profit..

GreatArkansas

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Quote from: Doell on January 04, 2022, 06:51:04 AM

means your profit is about 10x to 250 dollars ,actually you are not too greedy nor should you regret because if you don't sell 10x maybe the coin will not be as high as it is now ,which means you contribute to supporting the token at launch time by buying a little and getting a reward ! The cycle will continue to repeat itself and the most profitable are the long term holder

Well, that $25 for sure for some people is already a big amount of money, so OP is considered greedy, you will also consider the portfolio size, or how much OP capital is for investment.

Another thing why greedy is, investment indeed on that altcoins because as OP said, it was new altcoins and still cheap, so there are still a lot of possibilities it will turn to scam as what most of altcoins actions.

fvb

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Your reasoning is clear and close to me. Because I have also been in a similar situation many times. The most important thing is not to regret it and move on. So much the better that you're still in the black.

Doell

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means your profit is about 10x to 250 dollars ,actually you are not too greedy nor should you regret because if you don't sell 10x maybe the coin will not be as high as it is now ,which means you contribute to supporting the token at launch time by buying a little and getting a reward ! The cycle will continue to repeat itself and the most profitable are the long term holder

tyz

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Quote from: Wiwo on January 04, 2022, 05:45:21 AM

Take Hex coin for example I invested some amount in the coin when the project first launched with a very low price of 0.0005 and I bought around 50k of the coin that was a $25 investment at that time but the same coin raised to 0.49 in 2021 before dropping back 0.24 at the present price, let say I sold my $25 investment of 2 years at the peak price of $0.49=$25,500 that could have been huge profits but guess what I sold at the $0.005 which is much less but lessons learn always make the right decision at the right time.

HEX is a bad example in my opinion although I don't begrudge you the price gains. I only hope for you that you also realize and secure these profits. Because HEX is in my opinion highly dangerous. The high price only comes about because a large part of the coins are lured and they promised horrendous interest rates. In addition, the very largest part of the coins lie with the founder himself. The fully diluted market cap is at $150 billion what makes it third after Bitcoin and Ethereum.

CryptoWebDirectory

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Greed has screwed over lots of people, and for lots of money. I've been dipping more into alts recently (on PancakeSwap mostly) and when I can be profitable with one I pull out my initial investment plus a little extra, and then leave a bit of profit in the token if I want to go for the whole 100x/moon thing. If a token is really going to moon then you can make a good profit even with a very small amount (for example if I can make 100% ROI on my $25-$30 investment and I really want to take a small shot at the moon, I might leave $5-$10 of profit in there). As I improve and build a larger bankroll, maybe I can get to a point where I'm saving $15-$20 on those. Still, I agree that greed will usually end up screwing you if you're chasing those 100x profits. Best to set a profit target and stick to it. Then, if nothing else, leave a bit of profit in there to chase the moon shot. That's my opinion anyways..

Wiwo

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My altcoin Jurney has been full of excitement and lessons and in this thread, I reflect on what I have experienced and how I was able to manage my risks and uncertainties and come up with little or no losses in my altcoin portfolio.
The most important lesson is never to get too greedy once your investment made a certain profit just cash out and move on rather than waiting on the big 100x profits that may never come and can lead to losses if the coin gets dumped.
Take Hex coin for example I invested some amount in the coin when the project first launched with a very low price of 0.0005 and I bought around 50k of the coin that was a $25 investment at that time but the same coin raised to 0.49 in 2021 before dropping back 0.24 at the present price, let say I sold my $25 investment of 2 years at the peak price of $0.49=$25,500 that could have been huge profits but guess what I sold at the $0.005 which is much less but lessons learn always make the right decision at the right time.

Topic: My Altcoin experience and Lessons - page 2. (Read 275 times)