Idiotic Phases of crypto trading

[shri2]

Phase OF A. (Activation )

When I started trading I started because of media bombarding about increased price of BTC and how people become Millionaire In a year .(and how ur life sucks without having bitcoins in your wallet )
Now at this time you realised that it’s Time to become a Millionaire .
Now toy started this making of money by mining bitcoins ..you start your computer and found that it takes MILLION years to mine one bitcoin ..

Phase of plan B (buying )

Now you realised I don’t have money to invest into mining rig ..
Now go to plan B buy some bitcoin and start trading .
After buying u realised there is large network fee for bitcoin ☹️

Phase of I

When you transferred coins to exchange then big question is to which Altcoin to buy ..
Now comes role of friends family Youtube
And social media .and google ..
IF u search on YouTube you find things like “COINS TO THE MOON”
Some IDEOT guy (and sometimes girl ) giving you garbage suggestions ..(while showing background of sport cars ..and big office ..and telling stories like how they become rich buy bitcoins .

Now You got the advice from great minds of the century on the YouTube and u buy altcoins .

My first one was TRX ..
Now comes the sudden increase in price of ur altcoin by 500%😎 ..buuut what u do is You again search about that coin and found common advice given 😷HOLD don’t sell .and then price drops by 550% .now ur phase of waiting starts ...and continues ...and continues ..

In this phase u realised that price is not going to up again ..

This starts phase of Maturation ..
Now u realised that public sentiment is irrelevant with pricing .
Then I learned about technical trading which is good thing to deal with crypto as it’s not based on sentiment and biases .

Now you think of urself as expert in reading graphs ..buuuut u found that ur not and because ur competitor is BOT ..

What I learned from my short experience is

1. Never go with emotions it biases our decision making
2. Go With merit of coin and not by advice of Youtube video
3. Do ur math before buying
4. Put limit orders to buy and not market orders .and same for sell
5. Follow basic principle BUY LOW AND SELL HIGH ..this line looks simple but very hard to follow

This my experience with crypto trading ..

Comments

[doomsdaychassis]

I am at phase of plan B. Thsnks for the breakdown .

[shri2]

Welcome 🙏

[coin.info]

Coins mentioned in post:

Coin		Price (USD)	📉 24h	📉 7d
ALT	Altcoin	89.873$	-4.94%	3.17%
BOT	Bodhi	0.812$	-12.79%	-42.76%
BTC	Bitcoin	10510.200$	-8.37%	-25.05%
MOON	Mooncoin	0.000$	-20.93%	-31.49%
TRX	TRON	0.067$	-5.49%	-16.41%

[pradeepdee6]

Thanks for the info... Following you

[shri2]

Be cautious of trading bot tooo