Well sometimes it is unavoidable, like when you really need some money. You won't care about the trends happening around you anymore like "is everyone looking for some coins to be grabbed by those who panic sells?" or "is everyone looking to sell right now because of the bull run and wouldn't just hold a bit to get to the ATH".
I made the same mistake like back in 2018, especially when Bitcoin went below 7k like I thought I could never find opportunity to buy again then it fell below 5k.
It was one of my memorable mistakes.
Topic: Near success syndrome in trading. (Read 426 times)
Too much greediness will certainly ruin us and this is what happens to your friend.
I have this bad experience as well in the previous Bullrun. I thought everything will be fine, I thought the market will continue to move high, If you see on the speculations board that time, everyone is very positive and optimistic but suddenly, dumps come and give me the nightmare.
And from that, I learned a lot, and that we don't be positive always but also, we need to analyze the market if we have to sell or just hold.
Me too, it did really give me out some lesson in life and having those common line to be followed "Buy when everyone is on fear and sell when everyone is greedy"I have this bad experience as well in the previous Bullrun. I thought everything will be fine, I thought the market will continue to move high, If you see on the speculations board that time, everyone is very positive and optimistic but suddenly, dumps come and give me the nightmare.
And from that, I learned a lot, and that we don't be positive always but also, we need to analyze the market if we have to sell or just hold.
This is the thing ive been following now when it comes to market trend.I have committed the same mistake as yours on that first bull run we do have where
everything is hyping and growing without realizing that I should have secured out my profits while its still at peak but due to greed you would really be
ending up on holding up and ask for more until you realized that its too late since the market had already flipped out.
What happened to your friend was experienced by many traders, because sometimes we really have to feel that way in order to learn to control our
emotions when trading. Sometimes it is difficult to control the greed that we have, so stick to the plan is something that must be done. I think this is
an opportunity for you to motivate your friends again, if cryptocurrency is very volatile. So if it crashes, soon the market will quickly recover.
So starting all over again, try to give advice again to your friend not to repeat the same mistakes. I'm sure your friends can become successful traders,
because if someone fails to keep trying to get up, success will come naturally. Because experiencing losses in crypto trading is common and experienced
by all traders, but how do we get up and fix mistakes. This may not be owned by all traders.
I think that most people lose their money like this precisely because they do not have a plan, whenever you make a trade you cannot assume that you are going to win, obviously that is what we want but we need to have plans for every single circumstance that can happen in the market.emotions when trading. Sometimes it is difficult to control the greed that we have, so stick to the plan is something that must be done. I think this is
an opportunity for you to motivate your friends again, if cryptocurrency is very volatile. So if it crashes, soon the market will quickly recover.
So starting all over again, try to give advice again to your friend not to repeat the same mistakes. I'm sure your friends can become successful traders,
because if someone fails to keep trying to get up, success will come naturally. Because experiencing losses in crypto trading is common and experienced
by all traders, but how do we get up and fix mistakes. This may not be owned by all traders.
For example what happens if the market begins to go against your prediction, how long will you hold your coins? How much money are you willing to lose while you hope for a reversal? Will you buy the dip? And obviously you need to plan for success as well, what will you do if the price goes up more than what you thought? Will you keep holding? For how long? Will you buy even more coins? Until you have the answer to those questions then there is no point in trading or investing in the markets at all.
Isn't it just greed? No need to use fancy words to describe it, people might even think a different idea if they heard of it.
Hehe yeah and greed is the absolute description of watching your coins go high and low but not selling them.Just call it greed, as it is. And she needs help imo if this isn't her first time having such an experience like this. Tbh, I myself have had greed take me, like a lot of times. That made me honestly realize to just stop and quit trading, call it quits, and just hold whatever coins I want till whenever I want.
I don't think anyone can help with how greedy someone is and the only possible way to avoid loss is that when you failed to sell at the peak price, at least sell it quickly once the price is dropping again. Like if the price touched $100 and you missed and it is dropping then at least sell at $90 before it eventually comes down to the original value or maybe even below.Everything is happening virtually so whatever you manage to cash is your actual profit.
Too much greediness will certainly ruin us and this is what happens to your friend.
I have this bad experience as well in the previous Bullrun. I thought everything will be fine, I thought the market will continue to move high, If you see on the speculations board that time, everyone is very positive and optimistic but suddenly, dumps come and give me the nightmare.
And from that, I learned a lot, and that we don't be positive always but also, we need to analyze the market if we have to sell or just hold.
I have this bad experience as well in the previous Bullrun. I thought everything will be fine, I thought the market will continue to move high, If you see on the speculations board that time, everyone is very positive and optimistic but suddenly, dumps come and give me the nightmare.
And from that, I learned a lot, and that we don't be positive always but also, we need to analyze the market if we have to sell or just hold.
Emotional trading will lead to such bad consequences, there is no perfect time to leave the market, just do it when it is necessary to do so. Greed and fear can eat the trading capital if used recklessly. Trading is not a game, we don't have a second chance to trade the same market patterns at a unique time. From another approach, if your friend sold the coin on a 20% pump the continuation of the bullish trend will be pain for him.
Everybody likes to have perfect trades from time to time on where they do really target out to exit nor enter the market on the best time as possible.When they do saw that it did price drop or increase even more after they had done their move then that would really be making out some emotional
feeling that you have must wait a little bit more but what if you do see the other way around where things go to opposite way?
Securing profits aspite of the price will always be considered as a good call because gains are gains and theres no taking it back.
Dont rush up because people do make mistakes due to this kind of behavior.
I have TWT too, binance has given me the token because I've traded in the certain time. Until now I still hold this coin although as your friend feel when the coin has a high price I keep hold the coin, never sold them. Actually, I still got profited if I sell now, at that time 100 TWT only has a price $15 but now the 100 TWT is priced around $60.
Actually, it depends on your friend intention. If you she still comfortable to hold the coin then there will be an opportunity for the price back to increase. But, if she just feel lament because she didn't sell the coin when the price is high I suggest to sell her investment now. She will be regretted and her target will be high and it is not good the investment based on her greedy and never know the strategy behind the movement price of the coin.
That's it. Actually, it depends on your friend intention. If you she still comfortable to hold the coin then there will be an opportunity for the price back to increase. But, if she just feel lament because she didn't sell the coin when the price is high I suggest to sell her investment now. She will be regretted and her target will be high and it is not good the investment based on her greedy and never know the strategy behind the movement price of the coin.
Usually, impatient people will suffer losses, regrets, and disappointment. However, HOLDing also is a kind of trap, why? It is because this also a reason why we miss a huge opportunity and we think that holding for so long will see the market moving high.
As mentioned by OP, his friend rejected selling his coin during its ATH because he overly thinking that it continues to surge, he forgot about the nature of volatility and ended up full of regrets and desperation.
I have TWT too, binance has given me the token because I've traded in the certain time. Until now I still hold this coin although as your friend feel when the coin has a high price I keep hold the coin, never sold them. Actually, I still got profited if I sell now, at that time 100 TWT only has a price $15 but now the 100 TWT is priced around $60.
Actually, it depends on your friend intention. If you she still comfortable to hold the coin then there will be an opportunity for the price back to increase. But, if she just feel lament because she didn't sell the coin when the price is high I suggest to sell her investment now. She will be regretted and her target will be high and it is not good the investment based on her greedy and never know the strategy behind the movement price of the coin.
Actually, it depends on your friend intention. If you she still comfortable to hold the coin then there will be an opportunity for the price back to increase. But, if she just feel lament because she didn't sell the coin when the price is high I suggest to sell her investment now. She will be regretted and her target will be high and it is not good the investment based on her greedy and never know the strategy behind the movement price of the coin.
Tell your friend that it's ok. It really happened to most traders.
Your friend will never understand the risks if all his trading will be winning.
A simple, charge to experience. I hope your friend knows already what to do next time.
Your friend will never understand the risks if all his trading will be winning.
A simple, charge to experience. I hope your friend knows already what to do next time.
What happened to your friend was experienced by many traders, because sometimes we really have to feel that way in order to learn to control our
emotions when trading. Sometimes it is difficult to control the greed that we have, so stick to the plan is something that must be done. I think this is
an opportunity for you to motivate your friends again, if cryptocurrency is very volatile. So if it crashes, soon the market will quickly recover.
So starting all over again, try to give advice again to your friend not to repeat the same mistakes. I'm sure your friends can become successful traders,
because if someone fails to keep trying to get up, success will come naturally. Because experiencing losses in crypto trading is common and experienced
by all traders, but how do we get up and fix mistakes. This may not be owned by all traders.
emotions when trading. Sometimes it is difficult to control the greed that we have, so stick to the plan is something that must be done. I think this is
an opportunity for you to motivate your friends again, if cryptocurrency is very volatile. So if it crashes, soon the market will quickly recover.
So starting all over again, try to give advice again to your friend not to repeat the same mistakes. I'm sure your friends can become successful traders,
because if someone fails to keep trying to get up, success will come naturally. Because experiencing losses in crypto trading is common and experienced
by all traders, but how do we get up and fix mistakes. This may not be owned by all traders.
Had she listened it would have been a successful trade, that right there is probably a great lesson for her to learn early on in trading. Sometimes you really have got to get burnt to never want to play with fire again. Better to take these licks now and learn from them, Ive done it, we have all done it.
Emotional trading will lead to such bad consequences, there is no perfect time to leave the market, just do it when it is necessary to do so. Greed and fear can eat the trading capital if used recklessly. Trading is not a game, we don't have a second chance to trade the same market patterns at a unique time. From another approach, if your friend sold the coin on a 20% pump the continuation of the bullish trend will be pain for him.
Everybody likes to have perfect trades from time to time on where they do really target out to exit nor enter the market on the best time as possible.When they do saw that it did price drop or increase even more after they had done their move then that would really be making out some emotional
feeling that you have must wait a little bit more but what if you do see the other way around where things go to opposite way?
Securing profits aspite of the price will always be considered as a good call because gains are gains and theres no taking it back.
Dont rush up because people do make mistakes due to this kind of behavior.
Emotional trading will lead to such bad consequences, there is no perfect time to leave the market, just do it when it is necessary to do so. Greed and fear can eat the trading capital if used recklessly. Trading is not a game, we don't have a second chance to trade the same market patterns at a unique time. From another approach, if your friend sold the coin on a 20% pump the continuation of the bullish trend will be pain for him. The pain we feel as trader is caused by either greed or fear, so never decide with emotions. The emotionless trading is possible, we just need to sit tight before acting. Patience will be rewarded sooner or later, from my trading experience.
IF this is not the first time she is making such mistake and losing profits then she didn't learn anything from past trading experience, as a trader it is always important to make sure that profits you made are safe that is why most people convert their profits into stable coin before the prices crashing out.
Exactly what i did whenever i went into pump and dump groups to make investment. Sometimes the problem with these investors is greediness, they are very much greedy with their profits, instead of picking out their profits; they will rather keep them until the market start crashing and after the crash they start crying fowls on the Internets. The profit you take when before the market start crashing is your profit and not what you saw in your portfolios. During the recent spike in the value of TWT, a friend of mine made double her capital trading. Although she had already made double her money, she set her exit point on the trade at a very high point hoping to triple her capital. Before the crash of the market and her profits along with it, she was excited and told me how happy she felt to have made something tangible trading on her own. I adviced her not to be greedy, that she should quickly sell since she has made double and not wait to make triple a her capital, but she refused and insisted on waiting. (I gave the advice knowing that TWT is not a stable coin).
Some few moments after our conversation, i saw her with a long face saying that the market had crashed and if she had known, she would have followed my advice.
(This is not the first time she has made such a mistake)
Could this be termed "Near success syndrome in trading?".
Are you or Do you know someone with a similar episode?
Some few moments after our conversation, i saw her with a long face saying that the market had crashed and if she had known, she would have followed my advice.
(This is not the first time she has made such a mistake)
Could this be termed "Near success syndrome in trading?".
Are you or Do you know someone with a similar episode?
This is one of the most common mistakes in trading. People tend to be greedy if they are seeing the money the invested in being doubled. They feel like it can go higher just like your friend who thought that she can make her money tripled. Being greedy is a rookie and newbie mistake. We can never tell where the drop will come and so we need to set a strategy and respect our exit plan in order to secure profits. Profit is profit. You can always look for other opportunities if you already secured to the profit. This is the beauty of trading. We have endless opportunities so never focus on one trade and be greedy about it. Some may be successful in to that greedy trade but most will not. A good trading strategy is the one that will give you more profit in the long run.
But if the market keeps growing then you can keep getting profits, but a person like that will never implement this kind of strategy as they are being blinded by greed and they think that if they sell half of their coins then their profits will get smaller too, not realizing that if they are mistaken their capital will go down to the point it will be almost impossible tor recover what they lost.
During the recent spike in the value of TWT, a friend of mine made double her capital trading. Although she had already made double her money, she set her exit point on the trade at a very high point hoping to triple her capital. Before the crash of the market and her profits along with it, she was excited and told me how happy she felt to have made something tangible trading on her own. I adviced her not to be greedy, that she should quickly sell since she has made double and not wait to make triple a her capital, but she refused and insisted on waiting. (I gave the advice knowing that TWT is not a stable coin).
Some few moments after our conversation, i saw her with a long face saying that the market had crashed and if she had known, she would have followed my advice.
(This is not the first time she has made such a mistake)
Could this be termed "Near success syndrome in trading?".
Are you or Do you know someone with a similar episode?
Some few moments after our conversation, i saw her with a long face saying that the market had crashed and if she had known, she would have followed my advice.
(This is not the first time she has made such a mistake)
Could this be termed "Near success syndrome in trading?".
Are you or Do you know someone with a similar episode?
This is one of the most common mistakes in trading. People tend to be greedy if they are seeing the money the invested in being doubled. They feel like it can go higher just like your friend who thought that she can make her money tripled. Being greedy is a rookie and newbie mistake. We can never tell where the drop will come and so we need to set a strategy and respect our exit plan in order to secure profits. Profit is profit. You can always look for other opportunities if you already secured to the profit. This is the beauty of trading. We have endless opportunities so never focus on one trade and be greedy about it. Some may be successful in to that greedy trade but most will not. A good trading strategy is the one that will give you more profit in the long run.
When you are just new into this market then most likely you would able to commit such mistake due to inexperience towards this market.
We are just humans which emotions cant really be that controlled if you arent aware on things that could possibly happen this is why we do see every now and then those people who had
whine off just because they had missed out an opportunity to make money due to greed or too much waiting.
If you do really like to succeed then always secure out profits when you do see gains.Accumulate or try to compound it.
During the recent spike in the value of TWT, a friend of mine made double her capital trading. Although she had already made double her money, she set her exit point on the trade at a very high point hoping to triple her capital. Before the crash of the market and her profits along with it, she was excited and told me how happy she felt to have made something tangible trading on her own. I adviced her not to be greedy, that she should quickly sell since she has made double and not wait to make triple a her capital, but she refused and insisted on waiting. (I gave the advice knowing that TWT is not a stable coin).
Some few moments after our conversation, i saw her with a long face saying that the market had crashed and if she had known, she would have followed my advice.
(This is not the first time she has made such a mistake)
Could this be termed "Near success syndrome in trading?".
Are you or Do you know someone with a similar episode?
Some few moments after our conversation, i saw her with a long face saying that the market had crashed and if she had known, she would have followed my advice.
(This is not the first time she has made such a mistake)
Could this be termed "Near success syndrome in trading?".
Are you or Do you know someone with a similar episode?
This is one of the most common mistakes in trading. People tend to be greedy if they are seeing the money the invested in being doubled. They feel like it can go higher just like your friend who thought that she can make her money tripled. Being greedy is a rookie and newbie mistake. We can never tell where the drop will come and so we need to set a strategy and respect our exit plan in order to secure profits. Profit is profit. You can always look for other opportunities if you already secured to the profit. This is the beauty of trading. We have endless opportunities so never focus on one trade and be greedy about it. Some may be successful in to that greedy trade but most will not. A good trading strategy is the one that will give you more profit in the long run.
During the recent spike in the value of TWT, a friend of mine made double her capital trading. Although she had already made double her money, she set her exit point on the trade at a very high point hoping to triple her capital. Before the crash of the market and her profits along with it, she was excited and told me how happy she felt to have made something tangible trading on her own. I adviced her not to be greedy, that she should quickly sell since she has made double and not wait to make triple a her capital, but she refused and insisted on waiting. (I gave the advice knowing that TWT is not a stable coin).
Some few moments after our conversation, i saw her with a long face saying that the market had crashed and if she had known, she would have followed my advice.
(This is not the first time she has made such a mistake)
Could this be termed "Near success syndrome in trading?".
Are you or Do you know someone with a similar episode?
Some few moments after our conversation, i saw her with a long face saying that the market had crashed and if she had known, she would have followed my advice.
(This is not the first time she has made such a mistake)
Could this be termed "Near success syndrome in trading?".
Are you or Do you know someone with a similar episode?
This has often happened in trade circles. Where they hold the coin regardless of the height limit, they are too sure the currency will continue to increase continuously without any prediction.
Usually happens to a beginner, who trades or invests his funds. They make a profit but are still not satisfied with what they are getting and instead choose to hold the coins to the point they want. Even though they already know the currency price will fall in time, the mistake is to continue believing and hold the coin for a bigger profit.
Supposedly, sell if you feel that you are getting enough profit, especially if the profits you get have reached twice the initial capital. I think it is more than enough to sell, if you are the one who continues to hold on to the currency, then leave a small part of the capital to remain on hold on the coin, so you can monitor the ups and downs of the price and buy it again, if the price is normal and goes up again.
the mistake people make is not knowing how to take profits in a trade or investment. you can easily take profit and keep holding with patience. you dont hold by thinking it will keep going up, people need to buy and sell, so it will go up more and go down a little and move higher. she needs to learn, these are part of the lessons we learn in the journey. divide your holdings and take profits at intervals.
Lucky the holders when the price move like how BTC behaves now, but if not it will be not profitable by just holding, there are more chances to earn in trading especially now that the market is active and there are plenty of coins that can also give us profit if were able to buy and sell them at a right time. It’s hard to determine when the price will rise so as long as were in profit we can just consider it success to avoid regretting too much in trading. (This is not the first time she has made such a mistake)
Could this be termed "Near success syndrome in trading?".
Are you or Do you know someone with a similar episode?
Could this be termed "Near success syndrome in trading?".
Are you or Do you know someone with a similar episode?
She doesnt learn and as mentioned this isnt the first time she had make the same mistake.If she is really serious on making profits then she should really be
contented on what she do earn rather than on being greedy and do ask for more.As she had already the experience then she must be aware about the probabilities
or she do tend to make out some experiment until she do able to hit it out on making some big gains? Well, this isnt bad but you should prepare nor accept
on what are the probabilities of things to happen.
This is why people need to set objectives when they make a trade and once those objectives are reached they need to sell, it is true that sometimes you are going to sell sooner and you may miss the top but it is way more likely that you will sell before an important crash and you are able to retain most of the profits you obtained during the time you kept your trade open.
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