How do you feel when trading the market? We all know that the market is unpredictable, but when trading and investing in the crypto market are we also preparing for some uncertainties? This post is inspired by what happened to me yesterday investing in some IDO. Recently I have started exploring other forms of crypto investments, so I decided to participate in lime wire public sale event, in my opinion, this was supposed to be a holy grail into making cool profit, and besides they made their minimum presale order to be $200. Lime wire seemed like a good platform for content creators to get appreciated, from my understanding, lime wire is not a new company and have been in existence for some years now. But I didn’t care about that, just wanted to make money off their new coin.
source
Public sale, in my understanding is the chance to invest in a coin before they list on exchanges with the hopes that they get listed at a higher prices so you can make 2X or more profit. I have seen it happen, look at what SUI did, turned people’s $45 to $2,000. So I thought this was my SUI moment, I invested the $200 on the new lime wire token, waited for the list day and got highlight disappointed. The tokens were sold on presale for $0.3, so we expected at least $1 price to have 3X increase in value. Unfortunately the token was listed for exactly $0.3, so why did the team and dev make us go through all that trouble of public sale if they were going to list it for the same price. I could have just waited for the token to launch on exchanges to do that, after launching at $0.3 the token started dumping. So my investment is at loss, I am forced to hold the token for long term because I am trying to make my capital back.
If the token had launched at a very high price of like, lets say $2 I would have been celebrating and feeling untouchable, feeling like a superstar and feeling like the smartest person in the world, because my strategy worked and that makes me strategic. But when things didn’t go as planned, I went to the discord group and found a lot of people complaining and calling LimeWire manipulators for dumping on us. I am highly disappointed with the turn of event, but how do I deal with what just happened? Well, its all a mental thing, I just have to accept the fact that I have lost and stop dwelling on it, I have to move on. Focus my attention on other things, still glad I have Hive, I can vent and blog it out too.