What type of a trader/investor is this?

mr_random

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Quote from: bitvestorhacked on June 29, 2024, 09:44:20 PM

This is a general story, if you have not heard this story then you are just getting started, and if this have not happened to you, well soon it might as long as you are full into crypto it is bound to happen, i can't say it's greed because greed really has nothing to do with this, this is where emotions come in to play like your mind is a football field, the withdraw or wait a little bit longer to you falling asleep and waking up to realize that you have been a victim of a pump and dump, or a free fall that was directed to you, haha Grin

, what have i not said... Maybe greed too!!! Grin

The volatility is the main problem in crypto trading, you can wake up to a 10x balance or the other way around. Even low liquidity makes slippery stops, the stop orders are not executed on the targeted price but in the last available bid/ask order. Emotions are part of the whole story as well, managing feelings is crucial to avoid big swings on performance tracking charts. Taking profits is better than trying to catch the maximum on the trend, IMHO.

bitvestorhacked

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This is a general story, if you have not heard this story then you are just getting started, and if this have not happened to you, well soon it might as long as you are full into crypto it is bound to happen, i can't say it's greed because greed really has nothing to do with this, this is where emotions come in to play like your mind is a football field, the withdraw or wait a little bit longer to you falling asleep and waking up to realize that you have been a victim of a pump and dump, or a free fall that was directed to you, haha Grin

, what have i not said... Maybe greed too!!! Grin

Fivestar4everMVP

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Leading Crypto Sports Betting & Casino Platform

Quote from: bSpend on May 19, 2024, 08:25:06 AM

I came across one channel on telegram known as "Crypto Confessions" and on this channel, one can find alot of real life confessions from real people in crypto, while I was scrolling and reading all the confessions, some very interesting, while alot of others; not so interesting, I came across this one above and it really captivated me, I tried to imagine what this dude must be feeling like if at all what he said was true.

St $80,000, he still didn't take profit, can we attribute or say the cause of his loss was due to him being too greedy, or being too patient, or over trusting or believing in the coin/token he bought?

BTW, for those that might want to join the channel, here - https://t.me/anonymous_crypto_confessions

This is possibly the handiwork of greed, I personally feel that the story is not complete, he probably cut the story short or maybe the admin of the channel decided to summarize to whole story so as to make it fit into that info graphic box.

What I am imagining and assuming is that, that dude possibly wanted the entire money to become a round figure, which possibly may have put his target at $100,000, and when the total investment climbed to $80,000, he believed that it will soon get to $100,000, so he was determined not to sell, unfortunately for him, the price started to drop, and he thought it will rise back, maybe he totally forgot he was dealing with degen Solana memecoin.

Anyways, it's a good lesson for newbies to learn from, being greedy, most especially when trading Solana new memecoins, can always result in regrettable loses.

CageMabok

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Quote from: Hypnosis00 on June 23, 2024, 02:53:46 AM

Probably just a made-up story because this will never be the actual scenario for a real trader (or even a gambler). Ignoring small profits is a big mistake and even if you are a greedy person, you'd still be thinking about taking some of it. Yeah, we can't expect such a thing to happen whether we are new or old traders/investors, as this is not the approach we want to see.

I would say that if there are people who ignore small profits through anything, they are people who are arrogant or greedy in seeking profit. Because profits still have to be seen and recognized by everyone, even though not everyone wants to take them at the same time, they will still be seen as an achievement towards something bigger the next day. A trader must be able to avoid losses when trying to achieve a profit, although he must also be prepared when he is facing bad conditions in the market and can cause losses if he sells at that time.

Hypnosis00

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Quote from: Finestream on June 03, 2024, 07:47:37 AM

Quote from: Hypnosis00 on June 03, 2024, 06:22:25 AM

Too much assumptions and greed will certainly end up in regrets. It has been shown and proven many times that this is not good in crypto and even in other forms of trading. That is why we should have to change this kind of strategy and adopt the best and working way of trading.
I would prefer to earn at least 3-5% every close trade rather than aiming for 101%.

A smart investor/trader knows what is best for them but that person pointed out by OP is a newbie to this. I think he/she needs some experience and trading advice or else, this will happen again and again.

I cannot say that he’s definitely into trading, but it’s more like he’s gambling and trying his best luck to win a jackpot. No good trader won’t ignore significant profits, and miss a big opportunity like this. Even if lets say he’s a newbie in trading, still looking at a huge gap from $30k to $80k and still not decide to sell, that’s actually unbelievable. Either this is just a made up story, or actually a trading scenario wherein a trader itself is not actually aware of what he’s doing.

Probably just a made-up story because this will never be the actual scenario for a real trader (or even a gambler). Ignoring small profits is a big mistake and even if you are a greedy person, you'd still be thinking about taking some of it. Yeah, we can't expect such a thing to happen whether we are new or old traders/investors, as this is not the approach we want to see.

Vinaa77

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Quote from: Pandu Geddon on June 06, 2024, 11:37:32 AM

Greed for me is the action of a trader or investor who does not actually use planning in determining the trades made. If the trade has been planned well, then what will be the final result is how obedient the trader is in following the plan that was actually made by himself.
trading without a plan is like relying on luck. So the results of course depend on your luck. because being unable to make decisions is something bad for a trader. We all have to be able to determine which situations we should enter and when we should exit. stop trading without a plan, it will just burn money.

That's right, when someone trades without any planning, of course they just hope for luck in what they do and it is very likely that they will experience losses in the trade. When someone has a plan for trading, of course they must be able to carry it out well. and also when they have achieved the target profit, it would be better for them to immediately take the profit or go back to analyzing the market to see whether they still have the potential to get bigger profits or not and if they don't have the potential for profit, of course we have to take the profit and don't let it happen. greedy by forcing ourselves to hold back in the hope of getting a profit even though from the results of the analysis we have done it is clear that it is difficult to get a bigger profit than what we have got.

laubeaud

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In my opinion, his mistake here is that he didn't take profit. As an investor, you should define your target and take profit all the way along.

Wind_FURY

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Quote from: oktana on June 06, 2024, 06:40:37 PM

Quote from: Wind_FURY on June 06, 2024, 11:21:01 AM

Quote from: oktana on June 05, 2024, 06:39:11 PM

Quote from: Wind_FURY on June 05, 2024, 11:30:50 AM

Quote from: oktana on June 03, 2024, 06:59:04 PM

I would rather attribute it to him being too greedy because he had only $3k! If you see $80k and not grab it, what then are you looking for? What opportunity would you appreciate. Another cause of this could be that he never really had a plan. I mean... He never had a target amount he wanted to take out the money. If I were him, I'll likely take the money out way before $80k because half bread is quite better than none (he has nothing now).

Whether he had a plan or not, and the fact that he bought a memecoin with all of his money - the last of his savings - should be telling that he will lose everything sooner or later.

¯\_(ツ)_/¯

It was definitely better for a person like him to simply buy the Bitcoin DIP, and HODL everything in cold storage. His capital won't be in a fast surge to $80,000, but it won't be ZERO.

Yes, he used his last savings, but he got very lucky from taking that risk, going all the way from such an amount to $80k is crazy. And despite the luck, he still skipped the part of taking profit. Even taking profit that is the same amount as what you initially invested is the least you can do, so you know that you’re playing with money you’ve made as gains. And again, like you say, it’s a meme coin. He took the risk and he got lucky, no one is supposed to remind him that it’s a meme coin. You take profit once you see it. Everything that goes up comes down at some point.

There was no luck, good or bad, there was merely GAMBLING. Plus how could you say something like "he got very lucky" like it was with a presumption that his/her profit was already his/hers? Paper-profits are never yours unless you execute the action to either send the actual Bitcoins to your own wallet, or convert them to fiat and have them sent to your actual bank account.

Firstly, I said he was lucky because indeed he was. Who invests $3k and gets $80k? Or are you saying that he took the risk and it isn’t luck? Well, the way I look at it in this context, the $3k could have gone to $0 but the market was in his favour. That’s what I mean by lucky. Secondly, Money is money. If you’re eating until it is in your bank account before you call it money then tell me what cryptoCURRENCY is all about. When you have $80k even in meme coins, it is money. It’s your choice to withdraw it or not.

The point is, paper-profits are not real money. It's not yours until the trade is actually closed and the coins are sent to your own wallet, AND under your control for safe-keeping. THEN we could say that he/she was lucky. But being given the opportunity to close the trade with a $77,000 profit, BUT didn't and continued with the trade until he/she lost everything is not luck. It's stupidity.

oktana

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Quote from: Wind_FURY on June 06, 2024, 11:21:01 AM

Quote from: oktana on June 05, 2024, 06:39:11 PM

Quote from: Wind_FURY on June 05, 2024, 11:30:50 AM

Quote from: oktana on June 03, 2024, 06:59:04 PM

I would rather attribute it to him being too greedy because he had only $3k! If you see $80k and not grab it, what then are you looking for? What opportunity would you appreciate. Another cause of this could be that he never really had a plan. I mean... He never had a target amount he wanted to take out the money. If I were him, I'll likely take the money out way before $80k because half bread is quite better than none (he has nothing now).

Whether he had a plan or not, and the fact that he bought a memecoin with all of his money - the last of his savings - should be telling that he will lose everything sooner or later.

¯\_(ツ)_/¯

It was definitely better for a person like him to simply buy the Bitcoin DIP, and HODL everything in cold storage. His capital won't be in a fast surge to $80,000, but it won't be ZERO.

Yes, he used his last savings, but he got very lucky from taking that risk, going all the way from such an amount to $80k is crazy. And despite the luck, he still skipped the part of taking profit. Even taking profit that is the same amount as what you initially invested is the least you can do, so you know that you’re playing with money you’ve made as gains. And again, like you say, it’s a meme coin. He took the risk and he got lucky, no one is supposed to remind him that it’s a meme coin. You take profit once you see it. Everything that goes up comes down at some point.

There was no luck, good or bad, there was merely GAMBLING. Plus how could you say something like "he got very lucky" like it was with a presumption that his/her profit was already his/hers? Paper-profits are never yours unless you execute the action to either send the actual Bitcoins to your own wallet, or convert them to fiat and have them sent to your actual bank account.

Firstly, I said he was lucky because indeed he was. Who invests $3k and gets $80k? Or are you saying that he took the risk and it isn’t luck? Well, the way I look at it in this context, the $3k could have gone to $0 but the market was in his favour. That’s what I mean by lucky. Secondly, Money is money. If you’re eating until it is in your bank account before you call it money then tell me what cryptoCURRENCY is all about. When you have $80k even in meme coins, it is money. It’s your choice to withdraw it or not.

Pandu Geddon

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Quote from: 3la9l_kolbaCa on June 05, 2024, 11:44:30 PM

The probability of being greed made his loss huge amount of money, and I don't believe there's rug pull on this situation. That's the scenario of market fluctuations, most experienced traders encountered this kind of situation, they never complained of an error. Our emotions is the usual cause of the outcomes and results of every trading decisions we had.

Greed for me is the action of a trader or investor who does not actually use planning in determining the trades made. If the trade has been planned well, then what will be the final result is how obedient the trader is in following the plan that was actually made by himself.
trading without a plan is like relying on luck. So the results of course depend on your luck. because being unable to make decisions is something bad for a trader. We all have to be able to determine which situations we should enter and when we should exit. stop trading without a plan, it will just burn money.

Wind_FURY

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Quote from: oktana on June 05, 2024, 06:39:11 PM

Quote from: Wind_FURY on June 05, 2024, 11:30:50 AM

Quote from: oktana on June 03, 2024, 06:59:04 PM

I would rather attribute it to him being too greedy because he had only $3k! If you see $80k and not grab it, what then are you looking for? What opportunity would you appreciate. Another cause of this could be that he never really had a plan. I mean... He never had a target amount he wanted to take out the money. If I were him, I'll likely take the money out way before $80k because half bread is quite better than none (he has nothing now).

Whether he had a plan or not, and the fact that he bought a memecoin with all of his money - the last of his savings - should be telling that he will lose everything sooner or later.

¯\_(ツ)_/¯

It was definitely better for a person like him to simply buy the Bitcoin DIP, and HODL everything in cold storage. His capital won't be in a fast surge to $80,000, but it won't be ZERO.

Yes, he used his last savings, but he got very lucky from taking that risk, going all the way from such an amount to $80k is crazy. And despite the luck, he still skipped the part of taking profit. Even taking profit that is the same amount as what you initially invested is the least you can do, so you know that you’re playing with money you’ve made as gains. And again, like you say, it’s a meme coin. He took the risk and he got lucky, no one is supposed to remind him that it’s a meme coin. You take profit once you see it. Everything that goes up comes down at some point.

There was no luck, good or bad, there was merely GAMBLING. Plus how could you say something like "he got very lucky" like it was with a presumption that his/her profit was already his/hers? Paper-profits are never yours unless you execute the action to either send the actual Bitcoins to your own wallet, or convert them to fiat and have them sent to your actual bank account.

3la9l_kolbaCa

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The probability of being greed made his loss huge amount of money, and I don't believe there's rug pull on this situation. That's the scenario of market fluctuations, most experienced traders encountered this kind of situation, they never complained of an error. Our emotions is the usual cause of the outcomes and results of every trading decisions we had.

oktana

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Quote from: Wind_FURY on June 05, 2024, 11:30:50 AM

Quote from: oktana on June 03, 2024, 06:59:04 PM

I would rather attribute it to him being too greedy because he had only $3k! If you see $80k and not grab it, what then are you looking for? What opportunity would you appreciate. Another cause of this could be that he never really had a plan. I mean... He never had a target amount he wanted to take out the money. If I were him, I'll likely take the money out way before $80k because half bread is quite better than none (he has nothing now).

Whether he had a plan or not, and the fact that he bought a memecoin with all of his money - the last of his savings - should be telling that he will lose everything sooner or later.

¯\_(ツ)_/¯

It was definitely better for a person like him to simply buy the Bitcoin DIP, and HODL everything in cold storage. His capital won't be in a fast surge to $80,000, but it won't be ZERO.

Yes, he used his last savings, but he got very lucky from taking that risk, going all the way from such an amount to $80k is crazy. And despite the luck, he still skipped the part of taking profit. Even taking profit that is the same amount as what you initially invested is the least you can do, so you know that you’re playing with money you’ve made as gains. And again, like you say, it’s a meme coin. He took the risk and he got lucky, no one is supposed to remind him that it’s a meme coin. You take profit once you see it. Everything that goes up comes down at some point.

goaldigger

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Quote from: pusaka on June 05, 2024, 06:48:54 AM

Quote from: Fara Chan on June 05, 2024, 12:25:16 AM

Investment and trading should not be combined in one thought when someone wants to carry out these things at the same time because the focus of investment will never be the same as a person's focus on trading. Especially if that person really likes daily profits through trading, even though it's only a little, he can still enjoy it, even if he can make a profit. But if you lose, this is where someone needs to learn that apart from having risks, those who do it must also have patience and more established scientific techniques so that their mentality is not immediately disturbed by the losses that befall them.

The first thing that must be addressed is our mindset towards the crypto space, especially investing and trading. These two things are different, so we cannot use our techniques when investing and then use them for trading, and also we cannot use our techniques when trading for investment. Maybe the outline will be the same, but we are talking about something more specific.
Apart from that, we also have to know ourselves, whether we tend to be better at investing or trading. Sometimes we forget that, yes we forget to know ourselves. Even though this is something very important that should have been realized from the start.

This is the problem that many believes when they trade, they are making the right investment when in fact its not.
If you are a trader that only means you want to move a little faster while investing takes time to make profit, DCA investing are considered investment. With this case, winning that big was a big opportunity already unfortunately, that trader becomes greedy and fell on the trap of his emotion, and forget to set-up his target. If you have that kind of profit already, always make sure to have your back-up plan and avoid becoming greedy and too emotional.

Iamcrypticguy

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Quote from: bSpend on May 19, 2024, 08:25:06 AM

I came across one channel on telegram known as "Crypto Confessions" and on this channel, one can find alot of real life confessions from real people in crypto, while I was scrolling and reading all the confessions, some very interesting, while alot of others; not so interesting, I came across this one above and it really captivated me, I tried to imagine what this dude must be feeling like if at all what he said was true.

St $80,000, he still didn't take profit, can we attribute or say the cause of his loss was due to him being too greedy, or being too patient, or over trusting or believing in the coin/token he bought?

BTW, for those that might want to join the channel, here - https://t.me/anonymous_crypto_confessions

This happens to a lot of newbie traders. The fundamentals rule is to TAKE PROFITS. I hope he learns though ahah

Faisal2202

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OMG, that's a big loss, who would not have booked the profit, if I were in his/her place I would definitely book it if I had the chance. As only in one condition one might not take profit, is that either the $80k or $3k is not enough for the person so he did not care about it. But if he shared his story in such a confession telegram it definitely means he regrets not booking it.

So I would say $80k is enough for him but he was a little or too greedy. I hope he will be in a good situation right now as he said its either all in or all out. BTW which platform he must use that rug pulled and he lost the $10k also? Overall, we should ourselves from such actions, and to those who after reading this post gets the idea that they can also convert there feew bucks into thousands should avoid it. Its not 100% or even %50 sure.

Wind_FURY

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Quote from: oktana on June 03, 2024, 06:59:04 PM

I would rather attribute it to him being too greedy because he had only $3k! If you see $80k and not grab it, what then are you looking for? What opportunity would you appreciate. Another cause of this could be that he never really had a plan. I mean... He never had a target amount he wanted to take out the money. If I were him, I'll likely take the money out way before $80k because half bread is quite better than none (he has nothing now).

Whether he had a plan or not, and the fact that he bought a memecoin with all of his money - the last of his savings - should be telling that he will lose everything sooner or later.

¯\_(ツ)_/¯

It was definitely better for a person like him to simply buy the Bitcoin DIP, and HODL everything in cold storage. His capital won't be in a fast surge to $80,000, but it won't be ZERO.

pusaka

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Quote from: Fara Chan on June 05, 2024, 12:25:16 AM

Investment and trading should not be combined in one thought when someone wants to carry out these things at the same time because the focus of investment will never be the same as a person's focus on trading. Especially if that person really likes daily profits through trading, even though it's only a little, he can still enjoy it, even if he can make a profit. But if you lose, this is where someone needs to learn that apart from having risks, those who do it must also have patience and more established scientific techniques so that their mentality is not immediately disturbed by the losses that befall them.

The first thing that must be addressed is our mindset towards the crypto space, especially investing and trading. These two things are different, so we cannot use our techniques when investing and then use them for trading, and also we cannot use our techniques when trading for investment. Maybe the outline will be the same, but we are talking about something more specific.
Apart from that, we also have to know ourselves, whether we tend to be better at investing or trading. Sometimes we forget that, yes we forget to know ourselves. Even though this is something very important that should have been realized from the start.

Fara Chan

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Quote from: Lantind on June 03, 2024, 08:35:19 AM

I agree with you, these people don't really like trading and they treat trading like gambling and most people still ignore the profits they have made. I think this is caused by their mistakes in analyzing the market and also their greed regarding the trading they do, of course. This is very detrimental to themselves because it is not certain that they will be able to get even bigger profits if they decide not to take these profits and if this is just a made-up story, of course we can use this as a lesson so that we understand after getting the benefits. It would be better if we could use it to enjoy or reinvest.

Investment and trading should not be combined in one thought when someone wants to carry out these things at the same time because the focus of investment will never be the same as a person's focus on trading. Especially if that person really likes daily profits through trading, even though it's only a little, he can still enjoy it, even if he can make a profit. But if you lose, this is where someone needs to learn that apart from having risks, those who do it must also have patience and more established scientific techniques so that their mentality is not immediately disturbed by the losses that befall them.

Sebas.tian

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Quote from: Hypnosis00

Too much assumptions and greed will certainly end up in regrets. It has been shown and proven many times that this is not good in crypto and even in other forms of trading. That is why we should have to change this kind of strategy and adopt the best and working way of trading.
I would prefer to earn at least 3-5% every close trade rather than aiming for 101%.

That is what greedy can cause to those that have it in their holding, because they will like to use the small capital to achieve huge amount of income at once, which is a big risk some holders are involving themselves and it can make investors to regret in the future. Once you discover that there is an increase in that memecoins you are holding at the moment, you can trade to make income and wait for another opportunity to come before you can invest, because another bullish season will still come in a bigger way which it will double your income. I think, greedy investors has reduced in the community because some investors have learned lesson from those that shared their mistakes on how they lose huge amount of funds in the market because of greed.

Topic: What type of a trader/investor is this? (Read 815 times)