I made a similar mistake when investing in the altcoin 'Mooncoin'. For weeks I had been trading it against bitcoin and had been on occasion placing a trade and waking up another £250 richer... then one week I was away on a training course for my work and didn't have regular internet access. I had around £3000 in Mooncoin at the start of the week, one morning it dropped around £200, I didn't mind as experience had shown that it would rebound - that's how I had been making such huge gains so no big deal... it went up a little as the week progressed... then down a little... and then a little more... and then...
By the time I got home from my training course my £3000 holdings had become £75 :(
Mooncoin never significantly recovered.
I stayed well away from cryptocurrency for several months after.
Ouch! Great story. Glad to hear you recovered from that one.
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Thanks! I definitely learnt a lesson with that one. I've still made a few silly calls since (cough cough... The DAO) but try to keep a much more long-term perspective with investments now and question what value they could have in several months to several years time based upon the actual fundamentals.
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Yeah, the wounds from my later options trading losses are still a little too painful to write about :-). The lesson there has been it's much better to be a seller of options than a buyer!
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