For some time now I've been trying to get my hands on some good trades but it seems my fears have come through about trading not being for me. In short, I lost half my capital and im already at risk of losing the second half.
But while everything is playing out I have been able to win some and also lose some only that the losses seem to outweigh the wins making it unprofitable.
Nonetheless, while it might be unprofitable it is also knowledgable because I was also able to see some of the mistakes many people make with trading, especially the new users.
Firstly, we usually want to do a 10x all-in-one trade. This is something that I've been looking for for some time now to no avail but hopefully, it happens someday. But before then sometimes it is best to go for 2x than trying to add another zero to your bag.
Secondly, we follow the trend. Trends are something that has been able to help some people make huge profits but I think most times whenever the trend starts that's usually when the public has already caught up with things and it's not the est thing to invest in trends as they don't really yield well in the long term.
For instance Ava pumped due to the post made by cz but after sometime it crashed back and for those who tried to enter the trade at 3. All made loses.
Lastly, short term gains. This is apparently the most important of it all as you need to know what you are doing because it is better to make a 10x trade in 1 year than to lose it all in one month.
For this reason I think I need to stop trading for now and maybe start buying into more long term tokens like Ton, Hive and maybe Rune if there's more cash to throw around.
What are you buying and trading these days?
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