/biz/ - Business & Finance

When I was 17 I played in forex in the past and lost quite a sum. I was always thinking how do I earn back my losses. Then a friend told me about cryptocurrencies. I started looking seriously at cryptocurrencies. At that time in mid-August where everything was Mooning. Hey, I thought it was easy money. I bought $500 into ethereum, then it went higher and higher. I started putting my life savings and time in it. Guess what in a short span of 3months I manage to triple my life savings. Great, this is easier than I thought. Just by DYOR and hodling was comfy. But I was not satisfied with my gains. I started to chase day trades. A successful trade after the other I started getting greedier, placing all my bets in one coin one after the another. Until the day has come for me. All Pump and dump groups were waiting for this small sheep to walk into the lion's den. That sheep was me. I naively thought that the new PBC pick was going to be like Zencash. A good 2x-3x would be good. But I was the one who was being played. I FOMO and kept buying until it dumped on me. And I always read how people lost money, I laughed at all the 4chan posts. I didn't know one day that person would be me. I encourage for those who are new to learn the mistakes I made. Because nobody will pity when you lose money. 1. When doing day trading, always put a tight stop loss no matter what. 2. Don't spend your entire savings in one trade. 3. Do not follow the crowd, do your own research make your own decision. 4. Don't spend your entire time on this. 5. Watch out for too good to be true cryptocurrencies. (like confido) TDLR; I lost everything on POTCOIN.