There are an abundance of helpful posts here on steemit when it comes to cryptocurrency. Whether it be the basics of trading for people like myself, free crypto signals, technical and fundamental analysis, or day to day information on whats going on in the markets. A lot of these posts are from seasoned pro's or people who have been in the game long enough for a deeper understanding.

As a seasoned noob, with a 2 week old account on bittrex, i decided it would be a good idea to keep track of my progress. More importantly, analyse my work consistently to find mistakes, success and areas of improvement. And since steemit was the inspiration behind my crypto journey, i thought it would be almost rude not to share the lessons i learn as i go along!

Please note, this is not investment advice. This is purely a record and analysis of my personal trading.

Initial investment: 0.16186487 btc ($660)

Lesson #1: Emotional panic selling

I learnt this lesson on a recent trade of LSK. I had heard a lot of hype on steemit about the upcoming rise of LSK, and after establishing a downwards trend for an undervalued coin i decided to invest 0.03341392 (21% of account).

I bought in at 0.00055551 on 14 August and waited for the pop, setting my sell price to trigger at 0.00075000 and 0.00090000.

After 2 days the coin had slowly decreased in value, whilst i was watching other coins shoot up from out of nowhere. I told myself not to worry and kept faith. On the third day i opened my account and saw the dollar amount of $620. This is when i first started to panic. I told myself that losing $40 in 3 days is unacceptable and if i did it 10 times that would be $400 down the pan. Eventually i convinced myself that LSK wasnt going anywhere, and that i should cut my losses short and look into other coins. So I adjusted my sell prices to 0.00053000 and 0.00054000, thinking if i can make almost my money back id be happy.

Sure enough, i woke up the next morning to find my sells had been triggered and the price had rocketed!

I admit for a while i was gutted - but after some time i realised i should in fact be grateful to have learnt my first lesson. Emotions and trading do not go hand in hand.

After really looking back what happened and caused my panic reaction, ive managed to pinpoint it down to 1 tiny symbol:

$

By putting a dollar value on my capital and account value ive subconsciously began to relate it to real life products. $40? Thats a weeks worth of food for me, and by panicking at the thought of losing that i missed the chance to increase my investment.

So, from now on, I look at my account purely from a logical, statistical and numerical point of view. The numbers a simply numbers and not values of what i can buy or purchase in day to day life. They go up, they go down, bur regardless, they are still just numbers.

Lesson learnt!

Since this is my first post on trading crypto, i would also like to thank a few people on the forum for their helpful guides, hints and tips. As i said earlier there is an abundance of help on the platform - these are just some of the guys who have caught my eye recently

@bigdeej: Introduced me to @shadowbot and is always posting crypto updates on here and on his facebook page.

@edje: Wrote an extremely helpful post on The triangle breakout method posted here

@cryptonnn: Posts free crypto signals with good information

@lykencrypto: Has some great videos and posts a lot of helpful updates on the market, probably the chillest trader on the platform!

Thanks for reading and feel free to post any feedback and constructive criticism - Happy Monday legends!