#TradeLessons A Penny Coin Trade That Didn't Go as Planned

Back in early 2021, I entered a trade with SafeMoon, a newly hyped penny (micro-cap) coin that was trending on social media. The price had seen a massive spike in just a few days, and FOMO (Fear of Missing Out) kicked in. I bought in near the peak, thinking there was still momentum left.

What Went Wrong:

Bought on Hype: The coin was heavily driven by social media buzz rather than fundamentals or real utility.

No Exit Strategy: I didn't set a stop-loss or profit target. I was emotionally attached, hoping for "the next 100x."

Ignored Red Flags: High transaction fees, unclear tokenomics, and a team with little transparency.

The Result:

The price crashed within days. I was down 60% and held on, hoping it would bounce back. It never did. Eventually, I exited with a ~75% loss.

Lesson Learned:

Always research the project’s fundamentals—not just the hype.

Set clear entry and exit points.

Don’t chase pumps. If it’s already gone up 500% in a week, the smart money likely already cashed out.

Emotions kill trades. Discipline saves capital.

4o