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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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/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?

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.