Hello Everyone, Hope we are doing well? It's my first time to participate in Prof. @fendit class but I must say I really enjoyed the class. 100% thumbs up👍 for you Professor.

I decided to do the homework when I read through the post and I saw many lessons. The class did not just place emphasis on those that are already into trading i.e Traders but a very interesting class that also gave message to the newbies i.e Those that are planning to start trading (Cryptocurrency).

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Before we move to the question I would like to briefly define trading. Trading is the act of buying and selling of cryptocurrency, goods, commodity, asset etc. Between two or more entity. It is also the process of speculating on a price of a commodity in order to buy at a low rate for investment and sell in the future for massive gain.

Everyone want to be a trader but it's not that easy as we think. Trading of cryptocurrencies is not a simple thing but a technical one because you have to study the market very well so that you DON'T GET LOSS IN THE FUZZ.

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Question 1

Put 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:

From @fendit class

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.

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I would quickly make my research and see if there is any possibility for the coin to raise again. But if there is no possibility of it raising soon, I will quickly convert to a stable currency before my loss keep increasing e.g. USD, USDT. I will keep studing the market until i see that the holder of BTC start increasing and the chart movement is stable as it's increasing and other factor are favourable. For example, please click on this link @gbenga

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Question 2

Share your own experience when it comes to making mistakes in trading:

A. 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 if you got to know about someone else's experience.

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The mistake I may have make in the past is running into trading without knowing much about it thinking it was very simple to trade cryptocutrency. I didn't know there was something more to learn then just the candle sticks.

I only have Cryptocurrencies in my wallet but i have not started trading with it. With the help of my friend who is into crypto trading and does not want me to make the same mistake which he as made in the past. I was very eager to trade but now, I am eager to learn on how to be a good trader and also how to maximize profit and minimize loss.

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

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I found two strategies in the class of @fendit that will be very useful for me in the future. They are;

• FOMO
• NOT HAVING SET A STOP LOSS.

FOMO means Fear OF Missing Out -

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FOMO is one of the strategy that affect most people. Some people prefer to buy coin newly without knowing or studing the coin, Which may drop and may result in a very big loss for them.

In trading we shouldn't be afraid of missing out. We should think Psychologically and be calm in studing coin factor before buying it. According to Prof @fendit, Finding the right time is very important.

Not having set a stop loss -

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It is very important to use stop loss when trading. The coin may have being a good coin but no one knows what will happen in the nearest future. Maybe it will keep increasing, stagnant, droping, vernish etc. no one knows. So, it is always good to use stop loss to safe yourself from sudden loss.

Fear of missing out and not having a stop loss is a bad thing people do practice. But it will be better to stop this in order to minimize loss and safe yourself from sudden loss.

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Question 3

Place yourself in the following situation:

You're browsing Twitter and you see this:

From @fendit class

You see that whenever this kind 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.

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I would buy the coin but not the same day i saw it because i will make my research on it. No one knows if it a scam coin issue because the developers can sell large stakes and dump the project. Which will make it a dead coin. Even if I will be buying such coin, I won't buy large amount of it and I will only buy with little fraction of my asset. Because it is not good to trade with the amount you can not afford to lose.

But with the help of the Prof. @fendit class. Before i buy such coin i will view it psychologically and make research of while i should buy the coin. While trading, I will set stop loss limit which is very important and I will not be afraid of missing out.

Thank you!