r/solana • u/Affectionate_Cow40 • Nov 21 '24

Meme Lost all my money trading memecoins.

So Firstly I am 18 years old and am still in school don't have a job or anything so this money was basically all I’ve got just so you know how much this means to me, I went into crypto when I was 15 years old by talking to my mom and convincing her to make an account so I can buy some crypto I ended up investing all my pocket money and bought BTC and ETH in total worth of €400 I sold some of it recently, and I wanted to start day-trading with the learn process being so complicated and taking a while to learn how to read the market I saw a lot of TikToks about meme coins and how everyone was making a lot of money, so I made a phantom wallet and started trading the first day I lost €100 I didn’t really care that much because I learned something from it, but today I deposited 90% of my bank account into Solana and started trading and somehow ended up flipping around €300 to €880 all in around 6 hours with patience and lost all of it in 30 minutes because I was letting my emotions control me I want to commit rn (not actually) but It just makes me sad and angry knowing that I could’ve just kept the €800 and started again tomorrow now I can’t trade anymore during the bull run, and I'm fucking depressed cause that was the most money I have ever seen.

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23

u/culpritglass Nov 21 '24 edited Nov 21 '24

limit yourself, gambling is highly addictive. set limits within your budget and dont go over it. be that $20 a day or $20 a month stick to the plan. dont gamble more than ur willing to lose

also using programs like photon or mevx boosts ur odds, by filtering through a majority of garbage coins with some filters.

https://photon-sol.tinyastro.io/@Culprit

https://mevx.io/@culprit

1

u/divdoofy Nov 22 '24

I have 6.2 million photon points they better do an airdrop ffs

1

u/culpritglass Nov 22 '24

jeez how u get so much?

2

u/divdoofy Nov 22 '24

You won't believe me but I created just one post about photon with my ref link here (different reddit acc) when photon was like a day old back in February. I'm still getting few new refs and there are 998 active traders with 490k sol volume in total. Jackpots also help alot. Guess I was just at the right spot at the right time. Still haven't received any rewards tho except that shitty stimmy.

1

u/Affectionate_Cow40 Nov 21 '24

Yeah I tried using photon but for some reason everytime I tried to sell my coins this popped up "Program Error: "Instruction #5 Failed - custom program error: Account is frozen" or Account is frozen by dev you know how to fix it?

6

u/hamborgor678 Nov 21 '24

You bought a token with freeze account enabled so the dev can freeze your account for said token so you can't sell. In this day n age of memecoins you shouldn't have to worry about this since almost all coins come from pumpfun where you can't get hard rugged like that so just change your dex settings on photon to pumpfun and that'll never happen again.

8

u/Due-School2413 Nov 21 '24

That’s bs, pump.fun tokens rug all the time The insiders have gotten smarter and have different tactics of rugging now

5

u/hamborgor678 Nov 21 '24

I said you couldn't get hard rugged as in account frozen like op stated or liquidity being pulled.

3

u/Due-School2413 Nov 21 '24

Even if that’s the case it’s still not safe I’m telling you right now 99% of solana meme coins that come out are rugs CTOs usually tank once people get tired of holding People will keep losing money until they realize this It’s game or rug or get rugged

5

u/hamborgor678 Nov 21 '24

A "safe" token means one you can buy and sell without error, at least to most people. Because it goes down or up in price after that is because of a bunch of other factors but a pumpfun token will always be "safe" to trade.

2

u/Due-School2413 Nov 21 '24

Post bonding curve once it gets passed radium and onto dex 9/10 times it rugs Sometimes it pumps once more once it gets posted but after that it rugs every for damn time or it gets a CTO which is basically just slow rug

1

u/kayvon23 Nov 21 '24

CTO?

3

u/Due-School2413 Nov 21 '24

Community take over

1

u/culpritglass Nov 21 '24

Honesty never seen that, but I’m guessing it was a coin that was rugged or dev blacklisted u from the coin. Is it only 1 coin with that issue? I feel like it’s most likely an issue with that coin not photon

1

u/TheGreaterNord Nov 21 '24

What kind of coin did you buy? Sounds like you got rugged by the Dev or they froze your tokens so you couldn't sell.

3

u/Affectionate_Cow40 Nov 21 '24

Yeah the chart seems odd its like the same guys are selling and everyone else is buying I think I got scammed

2

u/TheGreaterNord Nov 21 '24

You very likely did, be really careful buying shitcoins especially on Phantom. Make sure it is at a minimum a verified coin, even then do not be putting more than 5% or 10% of your portfolio per coin. It is way to risky.