Lost 30 Million Won on Crypto. Now It's Hitting Me
Last month, I lost about 30 million won while averaging down. I started off small, but then I got greedy trying to recover my losses, and that was the end of it.
Still, I'm glad I have a home I actually live in; if I didn't, it could have been a real disaster. From now on, I'm just going to stick with index funds. I guess personal finance is something you learn by getting burned.
If anyone has had a similar experience, please leave a comment... I just want some reassurance that I'm not crazy.
7 answers
Yeah, I blew 3,000 too lol
Index funds are the answer, ugh...
Averaging down is the scariest thing. I also lost 2,000 and quit.
Well... 30 million isn't really something to be comforted about, is it? Some people lose hundreds of millions.
I lost a similar amount—50 million won—last year too. Back then I nearly stressed myself sick, but looking back, that experience made me study harder. The biggest relief is that I have a place I actually live in. If you keep putting money into index funds, you can recover. Hang in there!
Crypto is just gambling lol. Still, glad I have a house.
I personally think averaging down is the biggest mistake. If you can't coldly cut your losses when you're down, it's better to focus on principal protection from the start. Think of it as having learned a lesson with this 3,000, and next time, focus on risk management. Also, index funds are great, but the key is to trust them for the long term. If you need some comfort... everyone makes that kind of mistake at least once. Don't be too hard on yourself.