Dear Binancian who reads this.
This one is a real story of myself that I am going to share for the sake of preventing others doing the same mistakes as I did and improve on them.
Remember though troughout all of this, mistakes are Important and we need to touch to fire sometimes, even if we were told it is hot - we need to feel the warmth ourselves to understand, grow on it and learn from it.
Mistakes are important and the only way we learn.
"If I had succeeded 9 Years ago when I first started, I would have not known how to properly handle big money and continue to profit. Even worse, out of Luck I would think that I am skilled at what I do and step into a world of relentless debts"
When I started I was a young desperate Guy, on emotions I have spent all our Savings, only 6000$ at the time, on one token and lost 80% within minutes.
Background Infos/explanation of thoughts and actions before continuing with the story in a few words:
We were only 21 years of age(which is no excuse for the stupidity) and were forced to move to different places which should have been my number one priority back then, instead of wasting it all on nothing.
Up to this day I am still thinking why did my wife go trough all that with me?
But I am speechless and grateful for having her in my life - without her, I would have given up so many times and wouls have went to places which would have destroyed me, physically, emotionally and financially because I was just lost in so many regards.
During this time she had diagnosed and suffered her first seizures and shortly after there was a diagnosis of multiple sclerosis which impacted her life so much - but she never ever gave up, she thought me to stay strong and fight back, even if all hope is lost - what else would you do? Give up and die? Death is for the weak!
I thank you from all of my heart my dearest love.
I will love you and only you until the end of times.
I want to use this opportunity to highlight the Listing Losses that occur in 98% of trades, just like with XAI or any other newly listed token.
DO NOT BUY IT RIGHT AWAY. THE TOKEN PUMPS WITHIN 1.5 SECONDS AFTER LISTING AND IS DOOMED TO REDUCE AT MINIMUM BY 50% (Atleast on the same day, or right after)
You WILL lose money!!
I fully understand that the 3.000% Gains figure is absolutely terrific and you also want a part of that - but we are not chosen for this cake my friend.
This cake is for people with bigger wallets than we have combined in years.
They can eat trough us and survive droughts - we cant.
Focus on the leftovers that are dropping slowly but surely to the grounds.
Most non-whalers are thinking:
"I'll buy the top pumping coins, they'll continue to pump"
and they lose
Then they think instead regaining that loss or instead to improve or work on their strat:
"Those breadcrumbs are not worth my time. I'll get lucky with another top coin then on that day or another"
Until they bleed out completely.
And if they do buy in within the golden period of the top pumping coin of the day, 99% of the time this happens:
"Damn I got so much already I'll wait longer it will go up so much higher!"
Then the pump stops, and they go out +/- 0 at best.
There are many mistakes made in this example, like no research done, buying on fomo, buying on pure instinct or just out of greed.
And you can absolutely trust me - I did ALL of those, and MORE and still, sometimes I do SOME of them TO THIS DAY - it is inevitable, you only have to make sure you are capable of living on with your mistakes.
And Because we are all humans - we are emotional beings that are completrly dependant on outside factors in regards of mood, capabitlity, cognitivity etc. That we sometimes just lack the certain neuritransmitter on one day to think something trough.
Continuing the Story:
Not knowing the market I panicked and sold off, hoping to recover whats left.
I was so embarassed, I felt ashamed and couldn't even let my family know, I kept it a secret for years.
Worked a regular job at day and learned the market at night.
I have set a goal:
Either I :
Recover all whats lost and do my research, bite the bullet and stand your man
Hope for Moon without any research
Eat it, take what is left and never come back to crypto
As I was stupid and young, I hoped for 2) to happen - which never did - and lost 90% of my last 20% funds.
Then it clicked and I began to learn and adapt.
I have monitored my behaviour which led to this disaster and noticed that it was due to my personal character traits, my greediness and lack of knowledge.
I had to work on myself - before I could continue.
After a long years fight I had recovered all 6000$ and told my family about what happened.
Transitioning to 2023, my Wife had an Anorism followed by seizures and I just came home 2 minutes before it happened due to working overtime at my unfulfilling, underpaid job for which I am overqualified again.
I made the decision to prioritize my TIME with her from now on, I'd never forgive myself being at work and not with her after that - I want to find a way, to earn money and spend time with her.
And from day X to Y I quit my Job without any kind of securities - completely determined to make it on the market. (Not recommended!)
I made a strategy, focused on spreads up to 1% at max and made 755 Trades, 744 Wins / 11 Loss and tripled my startup.
Now I am finally able to sustain my Family, albeit I am still learning and still need to earn way more for a comfortable life - but I have the time to spend with my wife now.
The Moral of the story is:
Don't act too fast, always do your research and most importantly - Never ever give up your goals!!
Work on yourself before you work your portfolio - this lesson cost me 9 years and thousands of dollars of debt which I am continuously fighting back to this day.
But my family and I are still struggling because of my stupid, uneducated decisions
Some of the most important traits and mindsets that can help you succeed in the Crypto/Stock Market:
- Discipline: Successful traders are disciplined and stick to their trading plan. They have a set of rules that they follow and do not deviate from them. They also have the discipline to cut their losses and take profits when necessary.
- Patience: Patience is key when it comes to trading. Successful traders know that they cannot make money every day and that there will be periods of losses. They are patient and wait for the right opportunities to present themselves.
- Risk Management: Risk management is crucial in trading. Successful traders manage their risk by using stop-loss orders and position sizing. They also have a risk-reward ratio that they follow.
- Emotional Control: Trading can be emotional, and successful traders know how to control their emotions. They do not let their emotions dictate their trading decisions.
- Continuous Learning: The Crypto/Stock Market is constantly changing, and successful traders know that they need to keep learning to stay ahead. They read books, attend seminars, and keep up with the latest news and trends.
- Adaptability: Successful traders are adaptable and can change their trading strategies when necessary. They know that what worked yesterday may not work today.
- Confidence: Confidence is important in trading. Successful traders have confidence in their trading plan and their ability to execute it.
- Perseverance: Trading can be tough, and there will be times when you want to give up. Successful traders have the perseverance to keep going even when things get tough.
- Realistic Expectations: Successful traders have realistic expectations. They know that they cannot get rich overnight and that trading is a marathon, not a sprint.
To become a better trader, you should focus on developing these traits and mindsets.
You should also keep a trading journal to track your progress and learn from your mistakes.
I hope this helps! Let me know if you have any other questions or would like to have more in depth explanations.
If you appreciate my Post, Please leave a like and share it with other traders so they can join the circle!
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