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First post here: My lesson on chasing the pump
Alright, so I'm new to this forum, but not new to getting my teeth kicked in by the market. My biggest 'duh' moment came during a particularly manic run on some obscure altcoin. Everyone and their dog was screaming 'to the moon', and my rational brain (which apparently goes on vacation during these times) decided to ignore all my risk management rules and throw in a size I had no business with, convinced I'd catch the last leg up. Naturally, it nose-dived right after I bought, leaving me holding the bag and wondering if I should just stick to index funds.
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It's a common enough story, especially in the more speculative corners. The siren song of 'easy money' can be quite loud when everyone else seems to be getting rich. What did you learn about your own internal triggers that might help next time?