At times we traders and investors know that we can’t be winning all day, we always have time where market will be bad or our investment will hold a grip on us in the worst way we never expected. I would have lot to write another post related to finance but this topics keep popping up and I don’t really know why, maybe for fun and to learn a lot from your own personal experience. We all know investing is one things we need to be very careful about and make proper research before engaging in but how do you react after all your research, and you decided to invest but everything change against you.
I once remembered when I made one of my worst investment, I brought this particular token after a friend of mine today about the coin when It really increase well in price from something like $1+ till $10. I was actually waiting for my allawee as a corps member, you know the joy when you have some cash at hand to invest. Immediately I went ahead to grab some of this token without making proper research and actually because it was increasing and I don’t want to miss out (Fomo), so I use an app to convert my naira to busd and I transfer it to binance, brought the token at 10$ and was very happy that at least it should do 14-15$ and I will pull out. And it was already late in the night when I did this. So I went to sleep instead of waiting to see the next move.
When I woke up the next morning, it was a shocking experience, it drop drastically and within that week, it was nothing to write home about. I was pained but as an investor we have learn to take away all emotions and learn to bear the loss when market move in the wrong way. Currently the coin price is 0.6$ when last I checked, imagine from 10$ straight down to 0.6$. Since then, I have been careful before grabbing and most times I now get any token at their lowest price instead but it deals with lot of patience and time taken with research. No investors want to lose instead of gaining profit.
We all have seen a lot in this finance world, but we all have one or two experience we do learn from and most do make us wax stronger and careful before trying out some certain things. What is your own experience like, what was the wrong move you took when investing which turn other way round?