I finally admit that trading crypto on my phone was gambling, not investing

Two Febuaries ago I put $400 into a memecoin at 1am from my couch in Columbus. I told myself it was research, but I literally just watched a TikTok and hit buy. The coin tanked 90% in a week, then I doubled down with another $200 to average down, because that's what smart investors do, right? My wake-up call came when my buddy asked me to explain the actual technology behind it and I couldn't say one real thing. I had no thesis, no exit plan, just a thumb and a prayer. Has anyone else gone through a phase where they confused watching charts with doing actual homework? What got you to stop?

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rowanw3116d ago

Yeah, doesn't that feeling of being completely stupid just hit different at 3am when you're checking the chart again? I remember doing the exact same thing with a token I found on Twitter, not TikTok, but same energy. I put in $300 and then spent like two weeks convincing myself the dip was a "sale" before I finally sold for like $40. The worst part was I couldn't even explain to my girlfriend why I was so stressed, because I knew it was just pure luck and I was pretending it was skill. What finally stopped me was realizing I got more dopamine from checking the price than from actually learning anything about the project. It's a hard pill to swallow, but admitting it's gambling is honestly the first step.