Helloo. I’ve been going around just watching people’s videos and reading stories about investment horror stories. Some have been caught up in MLM schemes (I was too ) , some invested in coins that never really took off. And I’m just curious. What’s that investment you regret the most? Or does it even exist? I was pretty young when I thought that I wanted to start investing, and I made a lot of investment mistakes. How about you guys?
Well I think it’s only right that you share yours first I haven’t made investments into MLM schemes but I have definitely made mistakes with Bitcoin. I have bought too high, sold too early and bought far too high a lot size more times than I am willing to admit.
Not sure this is possible for bitcoin recently since it just hit ATH! Unless you bought at ATH last time lol
Well, it was both a good and bad investment, but not taking profits at the end of 2017 during the crypto bubble and crash. Things just moved too fast and fear/greed took over.
According to some, we may be in the same situation now four years later. I’d had a plan to sell one quarter of our crypto investments each time they double, but I broke that plan (and my wife and business partner agreed to break that plan). I am adamant that we get back to that plan but we cannot agree on what level of BTC (or ETH, etc) the values should reach, and whether to sell out 1/10, 1/4, 1/2, whatever. By the same token, we have not established either what we do on the downside (like April to September) so for want of a better idea, we just HODLd.
Do you have a hard and fast plan now, having experienced the 2017 rout? I’d be interested to learn from somebody else’s experience, or to work through those thoughts on the forum with other interested parties.
So after thinking for 24 hours my wife (a business woman) said “why would we be selling in an up market? Maybe we should increase our allocation, not decrease it”. That’s a fair point too - a nice problem to have, but nevertheless until we agree and make a rule, we will not “know what good looks like”, and may forever be dissatisfied with the overall outcome.
How much is enough?
I think there are no such ones for me, maybe btc, when it was high and suddenly dropped down, nevertheless I try to learn how no to regrer about things in life. Everything that has happenned, nowadays means nothing. The past presents us experience, I guess it’s the best gift actually. In my opinion, traders often suffer from fomo, something that they didn’t do but they had to. For example, they had to invest in btc in the past month, because btc grown up to 62.5k$ today. However, there is no need to regret about it. Everything that hasn’t happened also gifts us experience actually.
Okay well… HAHAHA I’ve been in a few MLM schemes before. I easily get tricked and convinced. I won’t name the companies cause there’s just too many of them, but thankfully, forex has made me a lot more cautious. As for BTC, I feel you. There’s always that idea that you missed a better opportunity to get in.
Haha. Or maybe he wanted to get in at a much lower price? I always think about this too. In my head I keep on saying “Wait for it to go lower before you buy.” And then it doesn’t go down, so I end up buying at a much higher price.
Buy high sell low amirite?
I have one investment, I will always remember.
I was around 18 and started trading live (after few months of paper trading). Had few very nice trades, was on the green wave. Polish exchange was very forgiving then as it was strong bull market. I’ve analyzed quarterly reports and found very good numbers in report of one of large developers. I set up position, stock went up, emotions were good. On the next day market realized, that company did some “legal creative accounting” in their reports and windows were dressed a little bit Reaction was severe and I lost considerable (as for kid in high school) amount of money. I felt so betrayed by the market
It took me two years to get back to investing/trading
Over the last month I’ve been consolidating my holdings, taking profit and closing out some of my positions completely. I’m favoring a majority of my portfolio in L1s (which was a great decision performance-wise as of late!), but I’m still spread across 10+ coins. I think as we get deeper into this month, that number will get smaller. Definitely making larger bets now, which will make it easier if I decide to sell.
The euphoria in the markets this week is incredibly high. “They’re just printing money now” is what I’m hearing more and more. And alt season appears to be here, but both BTC and ETH are pumping also. When everyone is looking in the same direction, I get a bit worried.
My biggest worry is swapping coins not on CEXs, so to counter that I’m trying to hold coins/projects that I hope will be insulated from a crypto winter, or at least those that have a higher likelihood of rebounding quickly once the market comes back.
Investment I regret the most?
Student loans here in the US are nuts!
School has helped my critical thinking skills.
I have no idea how different my way of thinking would be if I hadn’t gone to school.
I just know that student loans suck.
I think you can say that about investments that are made on emotion or crazy excitement. It can definitely be painful in the future, on the other hand it has happened and all one can do already is draw conclusions.
Tip on Financial Freedom: Everything starts with something you are interested in, you are good at and there has to be a market for it. **But you can also rely on others who are successful like EURO KING at Ctrader Copy. That is what I DONT regret.
There is no experience without mistakes. Without experience there is no professionalism. Risks can be controlled and mitigated. This is realistic these days. Everything else is recoverable.
I have started with forex and not regretting it. Hope the experience remains the same in future too.
I heard about that too! They say you’d spend a good amount of your life trying to pay off all that student debt. Good luck with it though! I hope it helped you somehow in getting a job or something.
Take your time studying and learning! And be very careful before investing real money.
A masters degree that set me back financially and wasn’t useful in the slightest to me.
Same here bro. I’m deep in the hole with that debt. It made me a better thinker. But there are much cheaper ways to develop critical thinking.