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?
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Deep, I think if I had to kill 10 people to survive, then I wouldn't do it. Does that answer help ?
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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.
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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 :)
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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.
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Well you can use 5 tags and use hashtags to add your post to more relevant categories.
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Sell high, buy low, bull, bear... who cares... watch, learn and stick to your gut!
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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.
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I'll check it out, thank you :)
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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.
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Well atleast you got some experience out of it + a great story to tell. :)
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