Don’t get me wrong I love coming here to see the sentiment, but at the same time am blown away by the almost daily stupidity I see from posters. At times SO dumb that it really makes it hard to find empathy for their situation.
Here are things I see in here everyday that should be avoided:
Getting scammed because you’re greedy: The amount of people thinking someone will just willingly double or triple your stack with no strings attached is really mind boggling to me… how can you be so naive?
Trading purely on emotion – FOMO, fear, greed, panic selling on a downswing, panic buying on the up etc Literally every successful trader on earth advises against this but you can’t help yourself can you?
Having zero knowledge/ doing zero research into your investments “Have you heard about the new Jorts Coin?!” Over and over you see people in here dumping money blindly into whatever new shiny thing comes out while having no idea of the basics like the use cases it’s aiming to solve, the marketcap and coins in distribution etc. These same people are shocked they not only didn’t get rich but also got rug pulled after the fact.
Having completely unrealistic expectations I’ll just come out and say it: 99.9999% won’t end up billionaires or even millionaires over their potential decades of crypto investment. The likelihood of you maintaining discipline to HODL or time your buys and sells in the right windows is extremely low for all of the reasons mentioned above. People that keep trying to get rich overnight are the ones giving up most of their money in losses back into the ecosystem.
This is not at all an attack on any individual, but if you find yourself doing any of the things mentioned above….stop.