Kryptonit lost $74k trading a meme coin in just 3 minutes - he bought the meme coin RICH and followed the 'golden' rule: buy at the highs, ride the... swings.
The trader bought RICH for 198 SOL, but the meme coin collapsed by 60% and Kryptonit, in a panic, sold it for 76 SOL, losing 122 SOL.
When the price of the meme coin started to rise, he bought it again for 297 SOL and again in panic sold it on the drop for 93.5 SOL, ultimately securing a total loss of 325.8 SOL ($73,900).
Interestingly, if he hadn't succumbed to panic, after 30 minutes he could have secured a profit of $278,000.
You might say - "what's the point of all this you wrote" - "nobody trades like that, after all, they aren't idiots" - but do you know the statistics?
Statistics say that more than 86% of users of trading exchanges act this way?! And besides buying and selling on the exchange, they know nothing - what a project is, how BTC differs from SOL or $NOT
Do you know how many people start trading with 100-125x on futures within the first month of registering on the exchange? - more than 70% - that's 2/3 of all users?! And this statistics changes very little from month to month... Most!
And there are also many who read posts and write questions in the comments like - "how to buy Bitcoin on the exchange for $10,000, to then sell for $100,000 - where to choose this?" - which means they are still living in 2020...
