Good Evening,
I was debating if I should write this or not but I believe it is important I express what I have gone through these two weeks.
I have no one to really confide in other than one person. So your probably curious what did she do wrong?
So it began mid December I began to invest in bitcoin and litecoin just 500 dollars. I saw my investment go up 30% and I was so shocked. I though oh how easy! I then decided to invest my leftover scholarship money from school in hopes of gaining some profit. I invested in tron at 4 cents and cardano at 59 cents. A newbie mistake I purchased at an all time high saw the crash and lost 900 dollars of my money. Two weeks later I witnessed tron and cardano reach its all time highs which devastated me, if I just held on! This time I was adamant to try again. Invested more money gained what I lost then the 9k bitcoin dip happened. I observed charts by different TA specialists. One stated iota was going to 43 cents! I got honestly scared and expected an 8k dip to happen. I converted everything into tether.
I waited on the sidelines waiting for the 8k dip....which never happened. I saw the coins recover and I began mentally abusing myself. Losing 4 thousand dollars......it made me go insane. I didn't go to class, I was constantly crying every day feared for the judgement of my parents. I obsessively began going on Binance to look at the prices of alt coins. Everyday telling myself how stupid I was...if only I have held all my positions I would have never dug myself such a deep hole. I was in desperate need to recover my money.
My mood changed drastically. I isolated myself...cried in the bathroom at school. I couldn't even start on any of my programming projects. I lost ambition. I felt like a failure. Writing this the emotions return. All I wanted was to help my parents. Seeing my 52 year old mother come home from working at Walmart, and my 54 year old dad all tired from cooking countless meals at a cafeteria broke my heart. I invested in hopes of having a return which would leave my parents happy as a small thank you. Instead I burned the 4000 dollars into ashes. I felt so guilty, sick and nauseous.
I began having anxiety attacks which left me shaking on the kitchen floor which I have never experienced before in my life. I began taking medication to which only left me emotionless the first few days. I have dropped two classes, which I have never done before. I am a 4.0 computer science student therefore I have always been punctual. I did not know what I was getting myself into. I invested what I was not willing to loose. I was immature, and clueless. Now I am paying the price.
My parents found out, of course they were devastated. Living in a family of six it is my responsibility to provide help as much as I can. I have used my leftover scholarship money every semester to help my parents pay the bills and help pay for my older sisters student loans. They viewed me as the most responsible child....therefore they were destroyed by the reckless decisions I have made. They viewed it as a gambling addiction.
It will take time for these wounds to heal. I still cry every night in the darkness. I learned my lesson. Through these dark moments I try to stay strong for my parents and siblings. I would prefer to suffer alone in silence.
Thank you for reading. I honestly wish you all the very best.
I'm going to go off to cry and eat more ice cream. As usual junk food always helps.
BTC: 17xctaP2DrBwH5UsiHQKyy7RiToxhdg3wm
LTC : Le5HFZuMFyRN8zigSKSMUaZBvMe7JKjQnv
Sorry to hear that Claudia we also lost some of our investment but we need to keep in mind that someday we will be able to get what we've lost. I hope you were able to cope up you just have to be careful next time. =)
Thank you so much for your kind words. I am slowly trying to recover what I have lost. It does kill me emotionally but im slowly feeling better. <3
Do not invest what you can not afford to lose. Also any smart investor needs to research what the are investing into. Just going in because you see an asset rising without conducting any previous research is a sure fire way to lose all your money. I spend many days looking into a coin before deciding whether it is a good find. I remember back when Ethereum was around 20 dollars in 2016 after a little bull run and I my partner and I decided that mining and holding would be a safer investment than buying in. The price crashed down to around 7 dollars at it's lowest before rocketing back up again and that investment was rewarded ten fold. Today I look at the underlying technology and team surrounding a coin. I do not buy because I see it rising. I purchased IOTA at a much higher price than currently but I have not sold. Why? because I invest long term. If it crashes than I am not completely ruined since I have many other eggs out there. But if it even doubles then that is profit. However I do not plan on selling it until at least the mid 2020's. So next time you should maybe do actual research and gather important information on the crypto you want to invest in or on the crypto market in general. This market is not a game. It is not a get rich scheme. It is a very complex and dangerous arena in terms of investments. With high risk comes high rewards.
I wish I read this before I invested. I did not educate myself as much as I would have liked. I was too eager to jump into crypto. I let the comments and ideas of others affect my decisions. Thank you for your response it really has helped me re evaluate my decisions in investing in crypto.
You don't lose until you sell. Sad story ! You should add some crypto addresses, maybe you'll get a donation. I don't understand how you bought tron @ $0.04 and lost money?
it jumped to 3 cents /: I was not patient enough and FUD scared me into selling it at a loss /:
I'll add a btc address for people who are generous.
Don't spend all that steem in one place! Kidding put it in to steem power. Next time don't put all your eggs in one basket. Upvote people and yourself.
Welcome to Steem. Do read A thumb rule for steemit minnows - 50:100:200:25 for starter tips.
Also get to know more about Steem reading the Steem Blue Paper and share your feedback on our Steem Blue Paper Awareness Initiative
All the Best!!!
Welcome to Steem. Do read A thumb rule for steemit minnows - 50:100:200:25 for starter tips.
Also get to know more about Steem reading the Steem Blue Paper and share your feedback on our Steem Blue Paper Awareness Initiative
All the Best!!!
See it as an investment, a very fast very expensive course in investing/trading crypto. Emotions are very hard to manage in trading, greed and fear.
Is very important in trading to stick to winning even very small amounts 20- 80 dlls. That’s your safety line out of fear and greed.
Yes I must be happy with any profit. And remove fear.
Hope you can find more people and faith and commitment as we gain wisdom and experience and I lost money when I first began buying Bitcoin and other alt coins in June 2017 and my money went from $600 to like $200 USD last summer as I made trades and even some bad trades but my money later rose over $2,000 so far and it does take luck and skills and time. Upvoted and resteemed.
GREAT to SEE you! I guess, welcome aboard the Steemit Train! You are already a great blessing to us all by being on this platform with us.All for one and one for all! Namaste :)
I think you fell into the trap that so many others do. you think the short term is more important than the long term. I'm currently bitcoin mining, as well as posting on Steemit.
It guess it helps if you think that this isn't real money, at least not until you pull it out and put it in your checking account.
It's a bit lot a 401K. It's not real until you close it and start using it.
I've watched Bitcoin go from the bottom to 14k/coin, then watched it dip. Right now, i'm not even going to worry about it, until I want to pull it out and use it.
I've watched Steem go from 1:1 to 10:1 and to 27:1 and back down. My account went from 800 steam to 1K steam, and back down to 700, and now back up to 1k. I'm going to let it ride, until I feel like pulling it out and using it.
Take a deep breath and settle in for the long haul. After all, you don't need the cash right now, keep it until you do.
And, if it should all crash and burn, then keep learning new skills, new subjects, and you can always dig yourself out of any disaster.
Yes, you are absolutely right. I have to become more patient and trust that these coins will recover instead of panicking and making decisions off others.
So sorry about that dear,your story is really torching,just know that everything that happens to you is for a reason and the reason is for us to learn,,,,you fell seven stand up eight that shows how strong you are.You can recover all that you have lost if you believe in God,,,,,,,we read and learn here on steemit.best of luck to you ,it is well with you
I am slowly building myself back together. I thank you for your kind words. I look forward for what the future brings me.
It is well love
So sorry. Please try not to let this devastate you. Push forward. This mistake does not define you. Go rock school, keep pushing. This will pass, and you will be wiser for it.
Yes thank you very much for your kindness <3
Welcome to Steem. Do read A thumb rule for steemit minnows - 50:100:200:25 for starter tips.
Also get to know more about Steem reading the Steem Blue Paper and share your feedback on our Steem Blue Paper Awareness Initiative
All the Best!!!