LUNA went to 0, and you wanna kill yourselves?! COME ON!!!
Today’s writing will be different from the one I usually write. This writing is to help everyone reflect on what has happened in recent days. Be it in the crypto market, shares market, commodities, etc.
In recent days, I believe many of us have acknowledged the plunge in the crypto market. Many lost their life savings, their family funds, or similar ones. Because of that, you can find some heart-breaking messages or posts that “signalled” that they are about to end their life. I wrote this based on my experience of losing my life savings. No, I am not committing suicide. But I am writing this to share my experience and empathy for those impacted ones.
My experience
Often, traders or investors have unprecedented confidence when they are into certain assets (usually called bias). And this is very normal, as this is human nature. I had the same experience when I also put my life savings into one of the instruments. This “all-in” mindset to achieve a specific goal made me do so. And let me emphasize that it is not wrong to have a particular goal. But one thing we need to be aware of is the ambition, I was too ambitious at that time, and I submerged into it and fell in love with the instrument.
Long story short, I lost the life savings that I had saved in 7 years.
Was I sad? YES, obviously!
Did suicide cross my mind? YES!
How could I get through?
Firstly, if you have your family, lover, and good friends, try to talk to them. In Cryptowatch, you can talk to me as your companion to go through this hurricane. Why is it important to talk to someone who loves you? Simply none of them would like to lose you.
Secondly, think about how precious your life is. You can earn back the money you lost, but you won’t be able to earn back the life you lost. Think about how bright your future can be, and think about the life goals that you eagerly want to achieve. Life is just too valuable to be wasted.
Finally, once you have reached your “Zen”, evaluate what you did wrong, and start fresh. It is never too late to start and be successful.
How did I get a grip back?
I stopped trading for around six months post-incident. I evaluated my trades, mistakes, and how I could improve in the future. I started fresh and re-accumulated my capital for me to start again.
There’s a saying by one of my mentors (non-trading mentor), “Failures you face will be upgrades for yourselves”. Just like the song of Kelly Clarkson’s “What doesn’t kill you makes you STRONGER”.
