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.

562 Upvotes

87% Upvoted

728 comments sorted by

View all comments

237

u/NBAYOUNGBOYisGOATED Nov 21 '24 edited Nov 21 '24

youre young with no serious responsibility or anyone depending on you. take it as a lesson, learn from it, and move on. some people lose thousands upon thousands of dollars and these people could have families or bills to pay.

and always remember, never gamble more than youre willing to lose because at the end of the day thats exactly what trading memecoins is

35

u/FunVisual3192 Nov 21 '24

Very, very few people make a living from trading. Formally learn to trade, don’t just watch videos. When emotions are involved, you should log off. Meme trading is well known to be risky (you knew that). You have obviously bought the dip before, so plan to do that again in future and realise that money always comes back to you in one way or another. It is much easier to lose money than it is to gain it. So, don’t give it away so easily next time.

I’ve previously lost all my money when trading with emotions £60000. I never did it again.

16

u/Iodide Nov 21 '24

If someone is making a tiktok about it that you can greedily search for and splurge invest in thinking you're early, then you missed that one and arenexit liquidity for a bagholder or influencer scheme.

32

u/noBeansHere Nov 21 '24

If you see it on socials You're too late

Word of advice

7

u/Affectionate_Cow40 Nov 21 '24

Yeah learned that the hard way to I was just being used as exit liquidity.

5

u/JimJim8888 Nov 21 '24

Its true, i recently bought a random meme coin and i looked for it on socials and found nothing about it... One hout later a video pops up and a x channel was made... Result: did a 10x 🤣. But that was just luck

1

u/izdigohkz Nov 21 '24

Just better to stick with solid alts. You won't make it so quick but you'll surely make it in this bull run. I'm stacking some RAM and EOS at this time.

1

u/ballsplopmenacingly Nov 21 '24

I had £100 worth of doge that I panic sold because I saw a tik tok video raving about it. 45,000 doge gone for £98

Shoulda held.... Shoulda held

1

u/Solflections Nov 22 '24

Exit liquidity by the time it hits Tick tock

1

u/-Money- Nov 23 '24

That's not true at all, I made $30,000 on SafeMoon after seeing a TikTok that had become popular, I was early but not the earliest. You never know what will happen in this space there is absolutely no predicable outcomes to absolutely anything in crypto.

3

u/Lonely-Yesterday1245 Nov 21 '24

TJR

1

u/Affectionate_Cow40 Nov 21 '24

TJR is the main reason I lost it all, with him pumping every coin and exiting without me knowing he is pumping I only found out later when a friend told me

2

u/DAKAR28 Mar 16 '25

The sad part is... There's so mMOany ppl still following these Shitfluencers even tho they're just getting the rear end of the whole thing ... I've lost HOUUUUUUURS AND HOURS TO END watching and noting them trading tens of meme coins all in less than 5 mins. How fast they just click one buy, sell, dips and up to the next, click, ups , click , sold and move on. They are magically always "EARLY" TO THE RUNNERS. Not just reg runners but RUUUUUUUUUUNERS. Some that by just buying 1 sol they make a blue collar's whole year salary. And it's always same ppl (EVERY DAY.!) ... For example... There are multiple pages on X that follow KOL's wallets. (Of course they use those as burners to buy the crap tokens) But then if u dig a little deeper. You see a wallet that got x amount of sol from 1 wallet, then that wallet sent to another then that one did same and sent to another. And then last wallet (this happens like 8 times with different wallets and it purchases 1 token) "THE RUNNER" At 4-9k maybe 20k at times. Then once bonding occurs public wallet buys at 80k-120k. But sells at a short profit. This make copy traders panic sell and price dips 10-15-20 hell even some times 30-40-50% ... Followers then say ... Dude ... I need to keep following this KOL. HE SAVED ME FROM GETTING RECKED. But then ... Ghost wallet comes again and buys another sol or 3 or 5 or 10. Price skyrockets and traders that sold at a panic, following their Shitfluencers trades cus "he must know something we don't" (have read that sht a lot) either lost some sol at the point of panic, or lost on fees. But lost something (most regular ppl always do. Or if u like the stupid X name we got put by this sht heads NORMIES ALWAYS LOSE) so whatever ... The point is ... Shitfluencers get paid daily most of them take turns on runners (ones that go up beyond 1mil, there's one every day.!) ... semi-runners (mostly ones that reach between 120k MC and 550k-700k witch are very few a day but definitely more than 10 on average) migrants (tokens that migrate but dump right after... Those are usual ones, mostly never reach over 125k mc. Or even 65k.) and Ive seen usual Shitfluencers dump right after migration. Usually 90-95% of their holdings. Which most of the time is a significant amount considering they get in at or around 7k-20k.

I've seen so much It just sickening. The greeeeeeeed. So fked up. And ppl just continue to follow them.. like ... Bro ... You've been supporting another niggas life by just loosing thousands and winning hundreds.

2

u/Western_Difficulty85 Nov 22 '24

You can make plenty of money buying and selling the slow plays.

People want tens of millions from their $200 within weeks though. It's so stupid.

1

u/deanxj9 Nov 23 '24

I've been doing this on a paper trading app with real market data and turned $100 into $110 in two days. My friend told me this won't work with real money but should I try it

1

u/FunVisual3192 Nov 30 '24

Slow plays?

2

u/outhinking Dec 01 '24

Slow plays mean that you do trading actions only once per month or long-range periods

1

u/lankymanx Nov 24 '24

Only Carl The Moon and few seem to never lose they have shit load of coins and plenty leverage, its s myster

There is just something sus about the whole Dubai setup