My wife and I started trading in September 2022 with a $5,000 wedding gift, full of hope. We put $3,000 into Solana (SOL) when it was priced at $32, and as our initial profits grew, we got excited and went all-in without setting a stop-loss. Everything seemed to be going well—until one November evening when we took another big risk, only to wake up to the news that FTX had collapsed. Our account took a huge hit, and we finally exited when SOL dropped to $8.
That experience kept us away from trading until May 2023, when we cautiously re-entered with Cosmos (ATOM). Unfortunately, without a disciplined strategy, we faced similar setbacks. Seeing SOL climb above $200 this year has been bittersweet; it’s hard not to wonder how things might have turned out if we’d held on.
The lesson? In the crypto market, anything can happen—but managing risk is critical. Just as some saw LUNA crash to zero, others witnessed SOL’s incredible surge. Make informed choices and know your risk tolerance. This isn’t financial advice; always do your own research.