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  • Crypto Currency - Believers Only

bosstrabs the point that they are most likely still well in profit as Ethereum has ‘crashed’ to $1000?

    22 days later
    10 days later

    Lol

    While I was back I met a mate in blighty and he and a guy went dabbling into crypto and invested a couple of grand each. At one point it got up to 750k. I asked what it was worth now and his answer was probably a packet of fags.
    I enquired as to why the fuck when it reached those kinds of ridiculous levels did he not sell? He said because it had potential to get to 20mil and still does 🤯
    His wife was standing behind him as he was saying it shaking her head mouthing ‘no it wont’.
    This is the same guy that used to spend entire nights/weekends on jackpot machines in pubs that you could only win 20 quid max.
    Half of 750k would have been life changing as they are just normal people , living in a normal house with average incomes and 2 kids.
    A fascinating insight into the world of no hopers.
    I would probably throw myself off a cliff if that was me but saying that I’d have definitely been out at 350k.

      Cankles-McJeggings

      Absolutely frightening how common this scenario is. Either there are a load of bullshitters pretending they nearly hit the big time or people are too stupid or greedy to take a decent profit and run.

          It’s the difference between experienced traders and amateurs. Knowing when to cash out instead of assuming something is going to keep going up.

          When setting a trade, always consider the exit point, not just the entry point. How much is enough. Personally, 10% to 15% should be considered a massive win imo.

            Wally

            Surely you don’t have to be a professional to understand when to cash in on some life changing wedge? I can’t fathom it and neither can anyone else I spoke to about it either. But he is like that. That being greedy and obviously pretty fucking stupid.

                Cankles-McJeggings would have taken 325k and gambled the last 25k incase it did continue to shoot up.

                Not cashing in on that amount for an average joe will fuck you up. I would always be regretting being so greedy and ending up with nothing. That would have cleared the mortgage and left a nice little savings pot.

                  Cankles-McJeggings Not at all - Using myself as an example, I’ve been stung by the ‘lets wait and see’ thing before and learnt from it - read some books on trading and one of the first thing it teaches you is to avoid the greed compulsion and set an exit point for a trade as well as an entry point - how much is enough? How much is enough to say ’who cares if it keeps going up, I’ve made what I wanted’.

                  A lot of people don’t set exit points for a trade and just get greedy thinking it’s going to keep going up and up (and then it inevitably comes crashing down). ‘Lets wait and see what happens’ is a really dangerous compulsion that seems to get reinforced the more money you’re making and sadly you get people who don’t even recognize it and learn how to avoid it.

                      I was wondering how much it went up in increments. Meaning were there a few points where he could have bailed with what most would consider a lot of money or did it just go up all at once and then become worthless all at once. I know its volatile an all..Should have asked.