MY EXPERIENCE WITH SHITCOINS IN THESE PAST FEW DAYS.
FOMO can make you do that one thing you never see yourself doing and for me, it's trading shitcoins. I've always been afraid of going into it generally because it's so volatile. Just as high as it can go, so also can it crash. I remember how Luna made lot of people sad, depressed and to the extent of committing suicide due to losing all their lives savings. Since then, I've always been super skeptical about these coins. You see, shitcoins are for short time trading and its best not to dwell on it too much but most times, yoi don't get so sucked in that you don't know when to get out till you lose everything. Its almost like gambling which contributed to my dislikes for it. Not until few days ago when $PEPE and few other coins started pumping. It was all over the TL on twitter as everyone was talking about it.
Going from no idea on how to buy shitcoins, I had to ask some of my friends about it to teach me how to go about it. While most of them were hoarding informations(which i dont know why), I was able to siphon the little information I could get to get started so I bought some few Pepe coins and a little others. In the first day, I didn't have any significant gain but in the second day, Pepe pumped up like it has never before and I was able to make like $100 gain which was amazing. As the gains were coming in, I bought some more coins and I gathered more gains. Instead of taking out my profits, I assume it will rise again but it didn't. The coins started dipping and it was all red. At this point, it was too late as I've lost almost all the profits I've made.
It was at that point, I learnt the bitter lesson which was to always take out profit. Taking out profit means, as the coins are rising, you sell your gains and change it to Usdt leaving your original investment. This helps you to minimise losses but trust me, it isn't easy to do. You can easily get tempted to reinvest your profits because, the higher your investments the higher your gains/profits. This got the best of me and made me lose most of my profits.
Thankfully, some of the coins are still doing well which gives me hope of getting my profits back even if its not as much as my first gains. We learn from our mistakes and experience makes us do better next time. I still have a lot to learn and I'm willing to.
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I jumped on the PEPE Wagon the end of April with only $10 ( and another $10 for gas fees). I saw $10 turn into $160 within a week 😄 and of course I though I should have invested more. I sold half, got back my initial $20 ( including gas ) and a $30 profit 🤣. And the rest of the PEPE, around (19M) is left to ride till whenever.
That was a nice strategy. If you were the greedy type, you would have pumped more money into it hoping its price skyrock again.
It is not just about greediness my dear, some of us are trading shitcoin for the first time. We learn from experience 😒.
I think of I invested more I’d be inspired to invest/gamble more after seeing big sums of cash. I think Pepe will be around messing with peoples emotions for a while.
That's why it is stylishly called "Pepper"😄
That's a good one. 🥰🥰🥰
At least you've learned though in a hard way. Next time you will be more careful.
🙄🙄🙄
You cannot time the market! The only thing that happened it is your greedy side that wanted to make more money. The dopamine in your brain blind you in this process.
🤣🤣🤣, I totally agree with you. Once there is a peak, your brain will tell you to hold as it will still rise until it all falls. Trading shitcoins requires lot of discipline I'll say.
Exactly. :)