Fishing In Troubled Waters
--
POV: You lost money when $TRUMP crashed
1. DENIAL
You entered a trade, and after a while the PNL is showing massive red. At this point, you know deep down this was way beyond your tolerance level, maybe you forgot to set a stop loss or over leveraged. But you believe it would soar to the moon, the loss is nothing compared to what could be gained.
So you turn to the Square and read positive comments/post and many "expert" analysis that supports your bias, further increasing your conviction. Thinking their analysis made sense, you bought more coins at a "bargain price".
This was just a slight correction, it would soar soon. Meanwhile, let me take a look at what others think.
2. REASONING
Probably about a day or two, you saw that the numbers in your PNL increased by one or two digits. Now the possibility of having to take such a massive loss starts to sink in.
You are unable to accept such an outcome. You started to question "what could have gone wrong?"
You opened the chart and started drawing all sort of lines in it, looking at the different time-frames. You even looked at the 1y and saw a big green candle. It tells you that it was in a bullish trend.
After overanalyzing and concluding that "It's gonna pump", you turned your attention to the Square. Commenting on every related post and sharing your analysis. You also bought Malenia coin while at it.
After all, it's the president's coin. If he just speaks, everyone would scramble to buy. With a word, he can make the price 10x high!
3. BARGAINING
Your losses, at some point have reached a psychological point of no return. The point where you might as well wait for your capital to get liquidated rather than closing it yourself. Might as well ride the tiger to end, hoping to have the opportunity to dismount safely. Perhaps it reaches a certain price.
Meanwhile you took screenshots of your red PNL, posted at the Square and captioned it "Hold or close". Knowing full well that you have no courage to close it right then and there even if someone told you to do so.
You hoped that a crypto sage might console you, that although the coin might not rise to the moon, it might reach it's previous height, putting you on a break even. After that, you swear to never touch meme coin in this lifetime, if per chance it would occur.
Indeed, many sages encouraged you to hold, providing analysis that seemed legitimate. Some even encouraged you to double down and buy more, buy the dip they say.
Hold or close, experts please help
4. ANGER
A few more sleepless days went by, the price went up and down, like it was toying with your emotions. Your position was not yet liquidated, but the slow descent to the abyss was even more miserable.
Perhaps you even woke up in the middle of the night, looking at the chart to check in, just in case. Perhaps you even dreamed of it going green, only to wake up in cruel reality.
Finally, you have had enough. Stress and anger gave you the courage, and you did the bravest thing you could ever do, close the damn position.
Immediately after, you felt emptiness and dread. Then anger. Anger towards Trump. It's all his fault you lost a lot of money. He used his high position in society to manipulate you. You were just a victim of these elaborate scams. Trump is a scammer, crypto is a scam. Everyone who does not think so is a scammer too.
Driven by your righteous wrath, you read a lot of articles about these and, convinced that you are right, you went to the Square to post your discovery.
Trump is a scammer $Trump is a scam!
5. ACCEPTANCE
You went through the anger phase, blaming everything that could be blamed under the sun. Trump, the coin, the exchange, other people. Except yourself. After all, you did the analysis and it was perfect . It couldn't have gone the other way unless it was a scam.
You calm down after some time. You painfully started to accept your loss. Perhaps it wasn't a scam, maybe that's just the way the market was, unpredictable.
You have some capital left, it wasn't over yet.
So you take the loss and the lesson gracefully, and apply it to the next trade.
Day 1 of recovering my lost:PNL.jpg
$TRUMP
You entered a trade, and after a while the PNL is showing massive red. At this point, you know deep down this was way beyond your tolerance level, maybe you forgot to set a stop loss or over leveraged. But you believe it would soar to the moon, the loss is nothing compared to what could be gained.
So you turn to the Square and read positive comments/post and many "expert" analysis that supports your bias, further increasing your conviction. Thinking their analysis made sense, you bought more coins at a "bargain price".
This was just a slight correction, it would soar soon. Meanwhile, let me take a look at what others think.
2. REASONING
Probably about a day or two, you saw that the numbers in your PNL increased by one or two digits. Now the possibility of having to take such a massive loss starts to sink in.
You are unable to accept such an outcome. You started to question "what could have gone wrong?"
You opened the chart and started drawing all sort of lines in it, looking at the different time-frames. You even looked at the 1y and saw a big green candle. It tells you that it was in a bullish trend.
After overanalyzing and concluding that "It's gonna pump", you turned your attention to the Square. Commenting on every related post and sharing your analysis. You also bought Malenia coin while at it.
After all, it's the president's coin. If he just speaks, everyone would scramble to buy. With a word, he can make the price 10x high!
3. BARGAINING
Your losses, at some point have reached a psychological point of no return. The point where you might as well wait for your capital to get liquidated rather than closing it yourself. Might as well ride the tiger to end, hoping to have the opportunity to dismount safely. Perhaps it reaches a certain price.
Meanwhile you took screenshots of your red PNL, posted at the Square and captioned it "Hold or close". Knowing full well that you have no courage to close it right then and there even if someone told you to do so.
You hoped that a crypto sage might console you, that although the coin might not rise to the moon, it might reach it's previous height, putting you on a break even. After that, you swear to never touch meme coin in this lifetime, if per chance it would occur.
Indeed, many sages encouraged you to hold, providing analysis that seemed legitimate. Some even encouraged you to double down and buy more, buy the dip they say.
Hold or close, experts please help
4. ANGER
A few more sleepless days went by, the price went up and down, like it was toying with your emotions. Your position was not yet liquidated, but the slow descent to the abyss was even more miserable.
Perhaps you even woke up in the middle of the night, looking at the chart to check in, just in case. Perhaps you even dreamed of it going green, only to wake up in cruel reality.
Finally, you have had enough. Stress and anger gave you the courage, and you did the bravest thing you could ever do, close the damn position.
Immediately after, you felt emptiness and dread. Then anger. Anger towards Trump. It's all his fault you lost a lot of money. He used his high position in society to manipulate you. You were just a victim of these elaborate scams. Trump is a scammer, crypto is a scam. Everyone who does not think so is a scammer too.
Driven by your righteous wrath, you read a lot of articles about these and, convinced that you are right, you went to the Square to post your discovery.
Trump is a scammer $Trump is a scam!
5. ACCEPTANCE
You went through the anger phase, blaming everything that could be blamed under the sun. Trump, the coin, the exchange, other people. Except yourself. After all, you did the analysis and it was perfect . It couldn't have gone the other way unless it was a scam.
You calm down after some time. You painfully started to accept your loss. Perhaps it wasn't a scam, maybe that's just the way the market was, unpredictable.
You have some capital left, it wasn't over yet.
So you take the loss and the lesson gracefully, and apply it to the next trade.
Day 1 of recovering my lost:PNL.jpg
$TRUMP
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
148
0