Eugene Ng Ah Sio shared in detail his mistakes in Solana investments and the lessons to be learned from these mistakes.$SOL
Cryptocurrency analyst and investor Eugene Ng Ah Sio stated that important lessons can be learned by analyzing the results and strategies of his investments in Solana (SOL). This analysis, which highlights how investment decisions were shaped, the mistakes encountered, and the precautions taken, provides valuable information for other investors.
Ng Ah Sio explained that he decided to invest in Solana and other tokens in its ecosystem after gaining confidence from the profits he made during the Bitcoin (BTC) price rally from $102,000 to $107,000. However, he realized that the risk/reward ratio of these investments was not very satisfactory and continued to grow his position by buying SOL at $220.
The analyst noted that he was uncomfortable lagging behind the movements in meme coins when the BTC price started to fall to $108,000, but while he closed some of his positions with profits or small losses, he chose not to close his position in Solana. He emphasized that this decision ignored the market trend and was a moment when prejudice replaced logic.
Ng Ah Sio said that when Solana reached the critical support level of $200, he increased his position further, increasing his investment to $45 million. He said that he considered this level as a significant support point in the higher time frames (HTF) and that he made the best use of the risk/reward ratio here. However, he said that this move further complicated the already risky situation.
Ng Ah Sio said that when Solana lost its $200 support, he should have closed his position as planned, but instead he decided to increase his position to a total investment of $60 million. He added that this was a mental red flag and he decided to hold the position to prevent the market from falling further.
Ng Ah Sio stated that when he saw the $7-8 million unrealized loss (uPNL), he prevented further losses by selling 70% of his position at $193. He said that this move allowed him to reinvest in Ethereum, Pepe, and other tokens at lower levels. As a result, he lost $6.5 million on this position, a 10.2% loss, but he made up for this loss with other successful trades. He reminded us once again of the importance of staying calm and not making emotional decisions during this process.