The gamble that cost me more than I expected
The best way to learn is from experience... I took a risk which I later regret, but I learnt my lesson never to try it again.
source
Earlier this year, I started trading memecoin. It was going well for me, I bought some tokens with 15 dollars and it pumped to 700 dollars, but while others sold, I was asleep and even though they tried my number to let me know, my number was not reachable because there was no network in my apartment.
By the time I woke up, the party was almost over, and the coin had dipped back to 95 dollars, painful but profit is profit... My mind told me the coin was going to pump but I felt it was going to be in the midnight which was the reason why I slept early that day so I can be fully awake in the midnight but then the devil change the time, I slept by past 9 and the pump happened before 10 pm, I woke up around past 12a.m... Which means the pump happened barely 30 minutes after I slept.
I had other good days with meme coins pump. Still, none were as much as the 700 dollars that I missed, then comes the trump pump, I saw the trump official CA at 0.1, but I ignored it, and the coin reached All time high of above 70 dollars, I missed generational wealth but this was something I never expected to turn out that way.
I was pained for missing out on trump but I knew putting money on meme is a risk so when Melania also launched, I ignored it too but again melania also pump to 13 dollars within few hours after it launched, My brain and heart was in a tug of war if I should invest in it even though it has pumped to 13 dols, maybe it could do another trump pump, so I guess.
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Without wasting any more time I poured 4000 dollars on it, to make some decent gains, it keeps going up and down, I was literally in profit of 250 dollars at a point, I should have stopped the trade but my mind says I should trade one more time and boom, the coin went down badly and I lost 500 dollars in an instant, I quickly converted the rest to usdt but then few minutes later I checked. It was already back to my entry point, which means if I didn't rush to tether, I would have gotten my capital and the 250 profit. I was pained again, and my emotions got the best of me.
I repurchased the coin and it went down badly again but this time I did not tether, I was hoping it would go up again, it only keeps going down, at a point I realized I have to decide if to tether and not look back or leave it till night and see if miracle would happen. I am just glad I followed the former and tether, I was sad cos I lost 1200 dollars with all the shitty trade but I was able to console myself when I check the price of the coin in the night and saw it at 3 dollars per 1, which means I would have lost more than that 1200 If I left it.
I made up my mind that day not to put too much money on memecoin again, and in fact that experience made me to stop trading memecoin, and I am yet to resume, maybe someday I might decide to risk it again, but definitely not putting up to 50 dollars on a meme again... Lesson well learnt...
Just call me Burl.
I am a professional gamer, motivational speaker and a crypto enthusiast
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Risk is two sided, sometimes it brings us joy while other times it brings us sadness. But if you hadn't fallen asleep you would have cashed out big time, I guess, sleep did you dirty on memecoin. Lessons makes us stronger and wiser.
Yeah, it is 50 50, sometimes it favours us and some other time it goes bad... We can only hope for the best when gambling.
Sure.
When we experience something ourselves and it hurts and we realize that it is our own fault, then in the rest of our lives we never make that mistake again. I have also made some mistakes in my life and learned from them and now I will never do that again in my life.
that is the good side of mistakes, we learn from them.
I really felt that $700 pump you missed and still shook my head painfully at the $1200 loss, that's huge but it's crypto for us. We learn to unlearn, the experience is a bad one but came with a good lesson on discipline. Not going above $50 is a nice move.
You can imagine how painful it is to me that lose the money, even calculating what I could have used the money for in my head, but it is what it is...
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That's the reason I don't trade with memecoin. I don't expect to make quick money from memecoin and I try to play in the safe side. Moreover, Now I can ignore my emotions also while trading.
!PIZZA
!LUV
yes it is a high risk gamble, never putting amount I can;t afford to lose in it again.
$PIZZA slices delivered:
@intishar(1/5) tipped @burlarj
Come get MOONed!
$4k is a lot of money, I wouldn't like, but imagine if that coin did x10, that would have been 40k$. However I doubt if you've sold at 40k$, you'd have probably waited to see if it'll do more, and this is how it'll cost you..
Waiting for extra profit when you could've taken the one you've gotten is the problem...
Nope, I was not waiting for it to do a big pump because the fund was for something that Can’t wait, so I just wanted to increase it a bit and like I mention in the post , assuming the last trade was successful, I would have stop immediately.
Ah!
What a crazy opportunity but you still missed it
I’m angry like mad but it’s not your fault
You’re better than that now
You need to see how pained I was that day
These are usually unpredictable no matter how well you try... you can not really tell .. but it's always good to place a parameter on your rusk levels