What type of a trader/investor is this? - page 6.

khalidkhan82118

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

https://talkimg.com/images/2024/05/19/1rUjT.jpeg

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

In the volatile world of crypto, knowing when to take profits is just as crucial as picking the right investments. What do you think could have been done differently to avoid such a loss?

Alpha Marine

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Quote from: boyptc on May 19, 2024, 03:53:17 PM

A common greedy investor.

I won't just conclude that it's greed. He may be inexperienced too. Or he just had a higher profit in mind.
For me I'll go with inexperienced, because an experience trader would know to take profit when he had the chance. He messed up, but that happens to a lot of people.
Using the whole 3k he had in the first place was a move that could make or break him and he got lucky with that, then he made another call when it got to $80k. He made a make or break decision. If the 80k has turned into $200k we would be having a different conversation right now.
Like the saying goes "the difference between a mad man and a genius is in the result".

Assface16678

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★Bitvest.io★ Play Plinko or Invest!

Quote from: wxa7115 on May 20, 2024, 02:12:50 AM

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?

At least to me a person like that is not qualified to call himself a trader or an investor, so what is he? A desperate person that wants to turn his life around and make a fortune thanks to this market.

This person was experimenting a 27x growth on his investment and still refused to sell, that is a growth the majority of those that are part of this market will never experiment, and yet this was not enough for him and refused to sell, and now he has to live with a great deal of regret for the rest of his life, as I am sure 80k was an amount that could have helped him achieve part of his dreams.

It's not that the person cannot be considered a trader; see, from initial capital to 80k, meaning he is good and can do better in trading. That's why he has grown or increased his initial capital to a huge possible profit. But the thing is, greed comes in. We can call that trader a greedy trader that cannot be satisfied with a huge profit and wants more, which is the trap and mistake most traders make. Imagine from 80k down to 10k again, which means he stakes a huge amount in the next trade that it losses, and because of being desperate because he saw the 80k down to 10k, he still stakes or does trade with mixed emotion, or what we call rush trade, hoping that he could gain the exact amount again. It's normal for a trader to be greedy sometimes but also have consideration or control. If you see that the profit is enough, stop securing the profit first before engaging again.

wxa7115

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Bitcoin is GOD

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?

At least to me a person like that is not qualified to call himself a trader or an investor, so what is he? A desperate person that wants to turn his life around and make a fortune thanks to this market.

This person was experimenting a 27x growth on his investment and still refused to sell, that is a growth the majority of those that are part of this market will never experiment, and yet this was not enough for him and refused to sell, and now he has to live with a great deal of regret for the rest of his life, as I am sure 80k was an amount that could have helped him achieve part of his dreams.

mk4

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It could be anything. Could be that he's simply greedy, or could be that his personal price targets weren't hit, or those that you've mentioned.

Also, this Telegram channel seems to be a copy of Coinfessions, a huge Twitter page with the same niche: https://x.com/coinfessions

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

Re: What type of a trader/investor is this?

uh.. a trader that made a mistake? I don't think you can categorize him based on that post alone.

logfiles

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Top Crypto Casino

It's all about greed and not knowing when to exit the market. Perhaps he thought that if her managed to turn $3,000 to $80,000... then he could as well make it to $1M. I have seen such similar confusion too on their Twitter channel, some traders even made more than $500K only to lose it due to greed.

Very many novice traders forget that what goes up must come down, especially with memecoins that have no long term use cases. When you learn to take profits and be satisfied of the small gains, you will have a lot of peace trading.

Issa56

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

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?

When you are investing or trading, always know when to leave the market, you don’t have to be too greedy. How will you turn $3k into $80k and you won’t still take out your money? I know most people will think if they can leave it, it’s still going to increase, but that’s just greed, and I am sure the person will have learned.

We all know that investing in meme coins comes with a lot of risk, so after taking the risk and being able to make so much profit, just take away your profit and you can still leave your little capital there. Most meme coins are always going to dump after the hype that they get dies.

If you are investing in meme coins, always leave the market when the coin is still being hyped. Never expect anything special to come out of a meme project. Don’t be deceived by what the developers are saying; some of them are just setting traps for people.

boyptc

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A common greedy investor.

Don't be like him, there have been many opportunities that are coming to us and if you're not going to be as wise as you can be, you'd definitely lose a lot of money.

It's not about how much you make but how much you can keep based on the emotions that you're having at that time of profits.

Stalker22

legendary

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I dont really see anything too special here. This dude put the last bit of money he had into some new memecoin. Honestly a pretty risky move if you ask me. Most of those things crash and burn right out the gate. He definitely lucked out that this one actually took off. but man, why didnt he sell some when he was up 10x? Or even 20x? To me, if you are literally investing your last couple grand, gotta take some profits. But he got greedy I guess. Wanted to squeeze every last bit out. Cant be too surprised it came crashing down. You win some you lose some when you play with fire.

Davidvictorson

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Livecasino.io

This is one too many of such stories that I have read about. And each time I come across them, I just know that the traders had no strategy in place. If the individual had a clear financial goal and already made up his mind to take profit at a particular price this would have been avoided. Secondly had this person made use of stop loss and the other tools which is available in this trading, he would have been able to mitigate this significant loss that he experienced. It can happen to anyone who is without a trading strategy.

Bulltard

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nothing special here.
stay long enough in this space and what happened to him will probably also happen to you... unless you don't have $3k to start with.

bSpend

sr. member

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Life

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

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