Because cryptocurrency is not a stable investment that one could just run into and in est all what you have in it, it is always advisable that one do not really venture too much into it because no one could really say this is what is coming in the next money in cryptocurrency we all just do a guess work. Well, sometimes the guess works well for some while it doesn't work out for some people, that's why when you lose all money you are not pained because you have not put all eggs in a basket.
I could remember vividly that there was a launch of trump coin recently which I snooze about it.it was a very painful thing when I saw it. What really happened about that was that, while I was surfing through Twitter which we all know as X now, I saw some notifications about it and beforehand I got some notifications too from my exchange app and my plan was to wait till when it will be launched not knowing it was starting that night. So I was desperately waiting till the launch until I woke up in the morning and I saw that it has been launched, and it has much bull.
On the normal ground, I was supposed to enter into the trade from where I saw it, but I couldn't because I don't know how far it's going to go. I waited patiently until when I saw that it was still thriving, I couldn't just do anything that to just keep looking but within myself, I was pained because I slept off while waiting. Imagine me buying a trade which I do not have much trust in and then later got bearish, it would be a big lost on my side and for the fact that I have invested all I have, I will lose something massive.
Sometimes before I get into any trade, I look out for some criteria before getting, which sometime works for me. I could sometimes remember last week when I got a friend from a friend to join a trade which was supposed to be by and take the profit and after buying I forgot to add the stop loss and got engrossed in something else I was doing. Before I came back, I could not meet up with what had happened, so I had to manage the little profit I was able to get from it. This is why I do tell people that cryptocurrency trading and investment is not for the weak.
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Well I am not strong enough yet because I sometimes loose, and I am always pained also but compared to someone who has nothing to fall back to. Another scenario happened about 2 days ago when we got introduced into a crypto investment which we are supposed to use from the range of $9 and more to invest and get rewarded. From the start I had a double doubt about it because I know most of these things are Ponzi schemes, but I still have it a try with the $9 I had, which I got just $6 in return. When one of my friends saw that, she decided to join with her friend's money, which I never advised her to do, but she insisted.
After doing, it just for two days, we were unable to get anything from it again till date and that was the end of it. Thank God I had warned her from the onset not to do it. I would have been the one she would have cried to for her refund and this is why I don't ever force anyone to do anything related to cryptocurrency or trading because we can risk things more than ourselves and the level of how I hold on to the heart breaks I get will be different from any other person. This is why crypto is not anyone's mate. It is good and sweet when you do it, and you get your returns in massive, but when it's the other way round, you have to carry the burden.
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In crypto, you must take away your emotions and carefully go into it so you don't lose all you have. Crypto trading takes a lot of tactics and one must understand them to be able to succeed in it.
Exactly. You are very right and correct. That's the goal when entering crypto world.