How i lost everything i had to crypto and every mistake i made
In early 2021, I jumped into crypto trading, lured by stories of people making life-changing fortunes overnight. With no real knowledge or experience, I scraped together $10,000 and dove in, convinced I was on my way to becoming a millionaire.
At first, things went great. My first trades made about me $700 in that week, and I felt unstoppable. But that confidence quickly led to my downfall. One day a coin called algo. it was moving in an upward trend so I went all in at $2.75 or so At first, the price climbed, and I was excited. But then it started to plummet. $2.15... $2.00... $1.80… I told myself it was just a dip. What I didn’t realize was that I’d made two major mistakes: I hadn’t researched the coin, it turned out to be a pump-and-dump scheme and I hadn’t used a stop loss to limit my losses. Before, algo was worth $0.35. My $10,000 had turned into $900 in a matter of minutes. I was devastated. That night, I replayed every decision I’d made and realized I’d been greedy, uninformed, and reckless. Over the next few weeks, I started learning. I studied risk management, technical analysis, and how to evaluate crypto projects. I learned the importance of position sizing and, most importantly, using a stop loss to protect myself from catastrophic losses. Today, I still trade crypto, but I approach it with discipline. That $10,000 loss was the most expensive lesson of my life, but it taught me everything I needed to know about trading responsibly. If you’re thinking about getting into crypto, let my story be a warning: research before you invest, don’t chase hype, and always, ALWAYS use a stop loss. Your future self will thank you.
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