FC 24 Millionaire #12
Our Biggest Loss Ever
What Happened?
A lot of people (including us) bought Future Stars Kehrer during the first Lightning Round for around 160k, he rose rapidly in the first 20 minutes up to around 220k and fell rapidly back, the next morning he had dropped to 60k.
We bought him because he had all the signs of a decent investment and at the time he had really good stats for a centre back, as well as being from a decent league and a decent nation.
Why Did It Fail?
Never underestimate the trading community and its influence on the market. The week before, everyone saw the Kamara flip (Kamara was not the only player that was great to flip the previous week but he is the best example) and wanted to repeat this again so they did exactly the same thing with Kehrer.
Kehrer wasn’t leaked before 6pm and as explained earlier he had great stats, he even had the same position and league as Kamara and was roughly the same price. A big part of the trading community went for him and mass bought him.
The problem this time was that the demand wasn’t from players wanting him for their team but from people who wanted to buy flip for a decent profit. Once the investors dried up, the demand fell away and the supply was still there. He started to drop and investors started to panic sell. More supply on the market but minimal demand. Prices dropped, people undercut each other and the panic selling went into overdrive, over the next 12 hours he plummeted down to 60k. Trader's panicing wasnt the only reason that the card dropped so much. Much more supply was also involved as much as the fact that this card was just not as popular as Kamara (French links are more important than German links in FIFA).
A lot of coins lost during that night. I (Zinhja) still have this recorded as his biggest loss, at around 6 million coins! It’s a running joke now but at the time it hurt...
What can we learn from it for FC 24?
The main learnings from this should be:
- just because something looks similar it doesnt mean it actually is similar
- always watch the trading community, if a possible trade is really popular on Twitter before the actual event, it will most likely fail because of overinvesting
- always be aware that taking a risk with trading can actually mean losing a lot of coins.
- don’t be afraid of making mistakes, as long as we learn from our mistakes we will always make more coins than we lose.
Losing millions of coins on this investment felt really bad but it taught me a good lesson (the lesson I am trying to teach you now). Without taking risks I wouldn’t have earnt myself anywhere near 60 million coins with trading that year. The ~12 millions that I lost that year were the price I had to pay for it. Every trader makes losses on his way up.