And then, when fireworks goes away and music stops, - ,,Before that i had my money in another crypto, around 115k, where i was looking to double my money & reach $500k and freedom that..." Long story short, from $100 000 to $2 Comments bellow, - We can't help those people. It's just, hopeless. P.s feel bad about the fact, that his story made me to laugh few times. At one point : (The man laughs himself) ,,I prayed & went to sleep" More, deeply rooted problems here than just a financial illiteracy, an excuse at 11:25 ,,Being in the middle of the work meets, i didn't had time to research properly" Bro ended the vid like a hero tho, - 13:24 Something from someone twice as old as him : timestamped P.p.s And then you check the rest of his channel and he started teaching or smthn. Ogh. Whatever.
Ok first of all, why is he making the video shirtless? To signify that he's lost the shirt on his back? Right off the bat, why does he think he needs $500K to see his son more often in a different state? No mode of transportation except private jets would cost $500K to just travel from one state to another? If you need to see your son, you just go, no need for $500K. That $500K is just for himself. LOL And also going from $115K to $500K is not doubling, it's almost quintupling. LOL Before he becomes a better trader, he needs to get better at math. Second regarding his story, he didn't lose everything on LUNA. He already lost ($115K - $42K) $73K on BICO. And he only lost the remaining $42K on LUNA. And LUNA's price that he bought at was not $100 like what he stated in the video. Before he bought LUNA, its price has already lost 98% of the value and was sitting at $10. I can understand he wanted to buy at the dip which is not a bad investment strategy by itself but the problem is he deployed that strategy without proper research and instead just decided to do it as a gamble since he was in Las Vegas?? which leads me to my third point below. Third, never ever mix investing with gambling. If you want to gamble, you gamble with money that you would spend on entertainment but when you shouldn't invest like how you gamble. With gambling you can lose big so if you treat investment like gambling, then it's with no surprise you will lose big as well. If he had done his proper research and analysis to find out why exactly LUNA lost 98% of its value and whether there is a chance that LUNA will recover its value, he would've discovered there is virtually no chance for LUNA to recover its value unless there is a fundamental change in LUNA's coin structure and he would've stayed away. This guy claims that he is knowledgeable and experienced in trading crypto's but he didn't even know the fundamental characteristics of LUNA and where the coin gets its value. And he didn't bother to do proper research and analysis and just decided to gamble the remaining of his life savings away on hope when he saw LUNA already lost 98% of its value and well...you reap what you sow. What can I say? So many times, people have been advised to not take on a gambling mentality when trading or investing and people still do it and use the lame excuse that he's in Las Vegas? LOL Anyway he's doing a whole bunch of Youtube videos now to try to recover his life savings obviously. Feel bad for him but not really sympathetic about his loss which imo could've been totally avoided.
I am also wondering what's happening to El Salvadore who's adopted crypto as the legal tender. With the cryptos all losing their value, how are they going to afford to buy things? And plus El Salvadore actually has huge holdings in bitcoin and has an infrastructure based on bitcoin.
I guess he ment opportunity cost. Yh , the math was epic. I guess it's due the stress. His thesis was , - ,,it was one of the top 10 coins so it has to go up" His TA research was based on some lows as support. Long story short, pigs get sloughtered.
Why are so many traders talking about other traders? It's not like anyone is competing against anyone, yet reading comments remind me of high school kids dissing others for the better or worse grade they got.
Will you please get off this guys ass? We are sick of seeing him, nobody cares if you want to be gay with him or not