Welcome dear Steemians, today I'll be showing you how NOT to trade cryptos.
1.Buying cryptos after they rose a significant amount
Everytime I open Bittrex and see all the little #altcoins that suddenly rose by a 100%(or even more),
I'm always like : "Aww damn, wish I bought that one. Better buy it now, it will probably rise even more and I don't want to miss that."
Can you guess what happens almost #everytime ? Yeah that's right, the coin crashes like crazy, the whale that just pumped it up, dumped it back down...
I'm even doing it right now !! #some #people #never #learn
2.Not selling your coins when they start falling.
This is kind of tied with the first one. Whenever I buy a pumped coin, I always believe that it's just a temporary decrease in price and it will get right back up - then it drops by 50%.
3.Not researching at all
Can you believe that I owned #STEEM for weeks, before knowing anything about #Steemit ?
I usually at least check out the site of the altcoin I'm buying - never the news though, that means I usually end up buying just before a #dump or generally in a #bad situation.
4.Staring at my portfolio ALL THE TIME
"Oh shit, it dropped by 1.78%, what do I do now ?.... Oh yeah, it rose by 0.25%, I'm gonna be rich!!"
You know what's the sad part ? I watch it #all #the #fucking #time and still do nothing to help it, whenever it looks like a dump, I just sit there and #hope. Whenever it's rising, I just sit there, look and let it #fall back again.
5.Selling too early
Sometimes I even manage to make a tiny #profit and sell the coin, then it rises by 50%. (fuck you too ETC)
I guess #ignoring the #market is just my #style. After I sell it and it rises by 50%, I try to get back in again, because I'm #clever. The coin loses 55%....
6.Not taking precautions
When I go to bed, I check my #portfolio and go to sleep, not setting an alarm,for if the #coin goes crashing down, not setting positions, to sell (or buy). #Nothing. I just hope that everything will be #fine and I wake up to this:
(not literally, I don't live in Spongebobs brain)
7.Some examples
Check out some of my trades:
Conclusion
As you can see I do a lot of dumb decisions while trading (well not only during trading...), please don't repeat them :). I hope this helps, just do the opposite of me and you'll be fine, you're #smart people. I sure do hope that I'll learn something from this. (doubt it)
Please share this - you just might save someone some money and stress.Thank you for reading this and check out my other posts please. :) (upvotes are always welcome :-) Have fun trading and #steeming !!!
Looking forward to your replies !!! Follow @lorddominik007
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#trading #buy #low #sell #high #money #doesn't #buy #happiness #but #I'd #rather #cry #in #a #maserati
#knowledge #is #power #fun #story #fail #give #more #trade #profit #loss #dumb #know #information #best #whales #minnows #dolphins #crabs #turtles #sharks #bitch #I'm #building #a #net #PowerForMinnows
If its wrong or right but we have to do it in order to survive. innit?
Deep, I think if I had to kill 10 people to survive, then I wouldn't do it. Does that answer help ?
A friend of mine who is sort of profi advised me not to use much more then 5+ hashtags in an article , otherwise people just consider it to be spam, I do believe it makes sense.
Yeah I had conflicted opinions on that, I had people telling me to put as many as possible while I think it just looks bad, guess I'll have to figure out the golden standard for that.
Thanks for the reply :)
If you refer to @rok-sivante, I do not think his idea was to use as many tags as possible just in one single little post )
I missed his post about tags and happy to see it on active page now. Gave my upvote too )
However his posts about how-to-write are the real must-read.
Another thing, I really don't see the point of just duplicating already existing tags as hashtags.
The goal rather should be to create some interesting niche tags.
Well you can use 5 tags and use hashtags to add your post to more relevant categories.
Sell high, buy low, bull, bear... who cares... watch, learn and stick to your gut!
Remember to keep your emotions out of trading and set stop losses. I highly recommend the book "Trading in the Zone" its a game changer.
I'll check it out, thank you :)
Pff man. I so feel your pain. A few months ago trading bitcoin and ethereum, there was a moment that I was having a virtual profit of 12.000 euro. Then suddenly I lost all my Ethereum profits due to the DAO hack. And now due to bitcoin crashing, I don't have much profit left. I am new into cryptotrading so I am learning the hard way.
Well atleast you got some experience out of it + a great story to tell. :)