HOMEWORK TASK SEASON 2 WEEK 4 PROF.@fendit ||DO NOT GET LOST IN THE FUZZ||

HELLO steemians!

Welcome to this post. This post is the homework task for professor @fendit Who has explained to prevent loss in trading and tells us about common mistakes that are needed to be prevented. So let's start our post.

People make many mistakes in trading and due to these mistakes, they also get lost. Here we discuss how to avoid some common mistakes in trading.

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A) Place yourself in the following situation:

You bought BTC a couple of days ago at a price of USDT 62K. Suddenly, you see that this situation is going on:
What would you have done before reading this class? What would you do now? Explain in detail if there's something you would do differently.

Situation:

source

It is completely shown in the graph above that when I bought BTC, the price was very high and good to see . But after some time it fell suddenly and it was a time of fear for me that if the falling of price continue falling it will be the loss and this feeling was very depressing . It is a tough situation for the people who starts trading recently and does not know the ups and downs perfectly and have little information about the trading the same situation is with me. I was confused in this situation that the price will be rise again or not before reading the class of @fendit.
But after reading the whole lecture thoroughly my situation would not be depressing I would surely be patient and will try to overcome my emotions and I will also try to take my decisions whatever I take patiently or calmly to avoid further loss in my trading. I will saw the techniques and procedures to handle the situation and will remain up to date every time about the fluctuations of market price to make good decisions So it will be fruitful for me to read all the instructions of @fendit To stop loss in my trading and investments.
I am a beginner so I will try in my next investment that doesn't make huge investments instantly on the little variation in the prices . I will wait for the time to make an investment and to sell. Time really matters in trading. I will also try further to control my emotions towards my work that it can harm my decisions.

B) Share your experience when trading:

What mistakes have you done when trading and what did you learn from them? If you have little experience when it comes to trading, tell me if you got to know about someone else's experience.

I am a beginner in trading and start trading recently the mistake I made in my trading is that I do not make sometimes decisions on time and due to that I got the loss I think it is the major strategy for your work.
Sometimes I will do huge investments when the price decreased little but find it the wrong decision. So it will be best for the traders that they will make the proper analysis of the market before making their investments. and sometimes they make the investment more than they earn this is the huge mistake of the traders and that loss they got from their actions is also double. One of my mistake I have made in the steemit platform is that I bought the steem at the rate of 0.70$ and I think it was a good decision The market goes down by the price of 0.40$ I was controlled by my emotions and sell the steem with the fear of a further decrease in the price but it was unfortunate with me that the price rise to 1.14$ in some days.
The thing I learn from my experience is that control your emotions anyway before making the decisions and be patient, do not overtrade with little variations, and focus on the ups and downs in the market prices.
So there were some mistakes and I learned from these mistakes.

2 Which of the strategies discussed in this class you find the most useful for you? Why?

The all points discussed in this lecture to stop loss were useful. Here are some points I find more suitable for Mr to prevent loss in my trading.

1. OVERTRADING:

It's really a good strategy for the traders that make mistakes and get lost by overtrading as they make mistakes by trading more investment than they earn To get more money but in return, they will get lost by losing their all investments some times. So it will good for those traders and also for me to avoid overtrading in their experiences.

2. FOMO(fear of missing out):

It's another strategy that I find good for fear of missing out . Trading is also the game of emotions from my experience I also learned this strategy. I sometimes become emotional and take wrong decisions for the fear of missing out . It's very necessary to be patient in the case of trading and improve your research and remain up to date about the fluctuations in the market price for buying and selling assets on time.

3. REVENGE TRADING:

it's another good point sometimes we lost our assets in order to get our lost assets back and also loss other things in fact ., So be careful about that it's not a good idea.

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C) Place yourself in the following situation:

You're browsing Twitter and you see this:

You see that whenever these kinds of things happen, BTC prices rush. What would you have done before reading this class? What would you do now? Explain in detail if there's something you would do differently.

Before reading the lecture if I see the tweet that the prices of bitcoin are rising fastly I will surely make the trade in order to this situation but not huge to get the much lost. The bitcoin price is boosting this would be good for investment before it boosts much.
After reading the class I will make the research if it really a good deal of buying tesla I will see the market prices and all the important factors I want to know before buying to prevent the loss.

CONCLUSION

This was a great lecture about stop liss in trading . I have learned a lot from this lecture about trading loss and its prevention. Be careful and remain attentive to make good time trading is the major factor to invest and always we should control our emotions either price rise or fall. I will really try to avoid such actions that cause loss to gain experience.