Keep Learning Crypto

in #life2 years ago (edited)

fomo.jpg
https://pixabay.com/photos/hourglass-clock-time-period-hours-2910951/
Crypto is an amazing market which keeps rotating and keeps us engaged. It is great if you have made some rules and are following them. It is indeed hard to escape from the FOMO effect. You always think that you are going to miss the opportunity and the next day or in a couple of days you realize that you were mistaken and should have wasted. Same is happening with me. I invested in too many coins when they reached their bottom with BTC pair but that wasn't the ATL and I am bearing 50% to 80% loss on the current investment.

Another mistake I was making was not taking profit when they even reach 100% or 150%. I have no explanation for why I was doing this. But I believe there might be two reasons for this act. One I was thinking that this coin is about to make more profit. Another reason is I was too busy with my tasks to take out the profit. This reason sounds a little silly for a crypto trader but believe me this was the case.

HODL.jpg
https://pixabay.com/photos/globe-trotter-traveller-globe-map-1828079/
Learning that I want to share here is that no matter how low a coin is, it is not going to go straight up. Like this month NEO gave me 100% profit against BTC but I didn't take. I realized now that I made a mistake and profit have now shrunken to 25% only. So keep taking the profit a keep investing in other opportunities, this has been the learning so far. I am waiting for more than 1 year now but my portfolio has only reached 33% of the ATH where it was. So I am not going to suggest that HODL is going to serve you well if you have plans to reach your target in a quick way.

Sort:  

Sometimes we just have to take your profit/loss and leave before we get rekt or too greedy.

Posted using Partiko Android

Congratulations @ghi! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You received more than 500 upvotes. Your next target is to reach 1000 upvotes.
You received more than 250 as payout for your posts. Your next target is to reach a total payout of 500

You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

Vote for @Steemitboard as a witness to get one more award and increased upvotes!