My Altcoin experience and Lessons | Bitcointalksearch.org

Novita

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Quote from: CryptoWebDirectory on January 04, 2022, 05:00:17 AM

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..

I agree with you, and I also experienced the same thing that is greed that makes us fall, because we hope for bigger profits, when new coins are launched, I feel very interested in buying new coins on PancakeSwap, so the coins I sell are on the following months the price increased rapidly, indeed we must need patience and do not be greedy in investing.

kapalmabur

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Over the years most people who hold the coin for a long term don't have regrets because they will eventually get their actual investment funds. Investment takes commitment and time before you start seeing yield.

Even so holding coins for the long term requires patience,
not everyone can do that but when it pays off with a big profit of course very satisfied,
what is important before deciding to hold a coin we need to at least do some research so that we don't make the wrong decision

Tellek Garing

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Quote from: ?? on ??

You shouldn't dwell on "whatifs".
If you made a decision, and made profit, it's a good decision.
No point wondering "oh if i sold at 0.45". It's the same as "oh I should have bought bitcoin in 2012"

You are very right by this statement as an investor once one can make some profits then it is good enough but I was just sharing my experience and lessons, am not seeing my decision to sell at that price as a bad decision though after all I made some profits already and have moved I with that no regret but just lessons.

EmmaGod

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We all have our unique lessons when it comes to the in the space, but one thing I find common with most of us is the issue of greed. I've lost a whole lot at several intervals when expecting a project to give me a x100, but eventually left with nothing to hold. We can only wish to make the right decision.

D ltr

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Quote from: Wiwo on January 04, 2022, 04:45:21 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.
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.

all experience it, greed destroys all, if you get 10% profit let go, and buy back when the price is 20% below profit and see the volume so that we don't get hit by the coin hype,
and when it's all in one word FORGET if there was ever a coin in our wallet

Oasisman

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Quote from: ?? on ??

Greediness will not bring you any profit and you have proven that suppressing greed is very difficult and keeps you from selling your coin when it reaches its highest price. I think we've all experienced it and regret it to this day. But you are not too late because the market will still allow you to make big profits again and hopefully, you will be able to overcome the greed that can come your way. If you keep in mind that the highest price won't always come and only sell at that highest price, you will make a big profit.

Well, yeah greed most of the time will lead into a massive loss of money most especially If you do not know what you're invested into and you're solely following on what's new and what's the hype.
But, there were circumstances where a greedy person actually gain from being greedy because he actually did his own research and had his due diligence before placing his money into a huge risk.
Altcoin is known to give not even a hundred percent of profit, but could actually give you thousands of fold, only if you knew what you are doing.
But just to be more safe , I'd rather hold fractions of BTC for a long term profit.

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Pepemo.vip

The biggest mistake of many investors here is to be greedy. I have experienced this situation many times and high expectations have always resulted in disappointment. Just like in life, we always learn new things in economics. I hope we get small losses and big gains

Rahman11

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It is fair to say that Bitcoin has better investing fundamentals than the vast majority of altcoins. Bitcoin is the most purchased, held and traded cryptocurrency on the market. It has a market capitalization of about $1.2 trillion, or more than 60% of the total market cap of cryptocurrencies.

kojektea

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Greed is the main point of loss in cryptocurrency trading. Profits can be obtained in various cryptocurrencies, but when we focus on and fall in love with one coin that makes us forget to take profit according to the target, we have the potential to lose.

asyakashi

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vmy experience recently, news is not the main thing in determining the direction of bitcoin, maybe it has an impact a week or a month later or before the incident. short term it would be better to use charts and indicators. this was proven when bitcoin went down with the news of the war in Russia, and in just a day bitcoin recovered 10%.

Rockstarguy

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Some people believe that the longer you hodl the more profit that can be realised but it does not work that way, normally we hold as to make profit , their is a duration one would want to hold to make profit that is beyond holding which is called greed. Greed has made so many investors of loosing great opportunities because of greed just to get plenty of gaining, I think some investors should get understanding how to handle some coins.

michellee

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From your story, I agree that never get too greedy about making a profit because we can lose the chance to make a big profit. It is a lesson for all of us and not just for @OP because we never know what will happen later. As long as you know when you will sell and take profit, you will be okay. Otherwise, you only wait more and more without knowing when you should take profit.

It happens to many of us and instead of making a profit, we never sell at a high price but only at a lower price. It is far from our imagination but that is what happens to us. We all have had this experience before so we need to think about it and know when to sell.

darewaller

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The example you have given here is contrary to what you are talking about. You said it’s good not to be greedy, and that we should take our profit as soon as possible rather than wait for the 100x profit, and that is exactly what you did; instead of having to wait for the 100x of profit you went ahead to sell as early as possible to avoid any loss that might come after that. So you did exactly what you are talking about here, rather than waiting for that price to reach more than 100x profit, which shows you were not greedy.

What you have to understand is that there are risk involved in cryptocurrency investment, and it goes both ways, whether you are trying to be careful, maybe by taking profit as early as possible, or you are trying to have patience for it to increase, there will always be that risk involved. If you sell early, you end up missing the bigger opportunity, and if you decide to have patience till the price goes up you stand a chance of making profit, or if not, then you are losing.

91254vvpatel

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jaimini patel

I have been working in the crypto industry for the last two years .And my experience with altcoin has been overwhelming. I believe that what we get from Alto is not the same as Bitcoin or etherium .Because no altcoin takes time to double. While the same thing is not possible in Bitcoin or etherium, even if it is possible, it can take a very long time. So choose the best altcoin and invest in it and get good returns. This is my experience.

timerland

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You still did extremely well.

It's always a matter of conviction. Are you actually comfortable holding the coin for the long term?

Even if a coin goes ballistic - if it doesn't have good fundamentals in terms of long term potential then I wouldn't ever consider buying and holding it. This would simply lead to subpar decision making and eventually you will be hit sooner or later with a big loss.

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Quote from: Ulven on February 11, 2022, 11:44:43 AM

Risking small money for big profits is not effective in the long run, as we know the market is volatile and sharp. This will undoubtedly cause us a loss in the event that we invest in meme coins or in failed projects.
In fact, if you feel that you will regret in the future, do not sell, but rather work on storing and waiting for the goal

The amount of money he has invested is quite small, $25, and according to what he has said here, when the price of the coin increased he got up to $25,000 from the increase, although I’m not sure if that’s really right. $25 isn’t that much, and I believe a lot of people are able to risk that amount. If he is able to risk that amount then it’s good that he invested it.

We should always invest only the amount that we can risk in this market, if not , then it’s best to just stay clear from it. If he had more patience, he would have been able to make a better profit from the market.

Ulven

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Risking small money for big profits is not effective in the long run, as we know the market is volatile and sharp. This will undoubtedly cause us a loss in the event that we invest in meme coins or in failed projects.
In fact, if you feel that you will regret in the future, do not sell, but rather work on storing and waiting for the goal

o48o

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Quote from: Wiwo on January 04, 2022, 04:45:21 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.
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.

Or wait for 2x-5x and take your investment back plus some profits but almost always it's wise to leave some for the moonbag that you won't sell until 100x, 1000x or 10000x or whatever your target is. Because all you need is one coin to moon if you have chosen the right one. I have made way more with some nfts or some random shitcoins with like 1 trade then i even made by following ta and trading with it.

Even if you think that other way is just based on luck, both ways require lots of work. But looking for fundamentals can be way more profitable then looking for charts.

Cling18

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Greediness and contentedness are human nature but we have to overcome them. Sometimes, when we gain profit, we want to earn more which could only result in more losses. As for me, when we reach our target goal, that's when we have to stop or sell because aiming for more might only ruin our journey.

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

.......but lessons learn always make the right decision at the right time.

I wish we know that our decision is right. I mean it's always based on outcome, we will only know it's right if the future would happen based on our expectations. In your case, you got greedy ( been in that situation too) and you lose the opportunity to sell because you were aiming for more.

HODL, when the price is pumping, is always better than HODL when the price is pumping, if you know what i mean.

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Quote from: aioc on February 11, 2022, 09:56:59 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, 09:15:54 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, 04:45:21 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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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, 04:45:21 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, 04:45:21 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, 04:45:21 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, 04:45:21 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, 05:51:04 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, 04:45:21 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 (Read 310 times)