I am happy to be here again today and to attend this homework post from the lecture titled "Dont get loss in the fuzz" by crypto professor @fendit. Here is my entry:

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 i have done before reading this class?

With my limited background in the cryptosphere, I might have waited until the price behaviour was more certain before making a decision. I don't want to be a stock trader, but if I buy the commodity at 62k USDT per Bitcoin, I will wait for a brief period of time and see if the price is going down or if it is likely to rise again. If the price drops below 59k USDT per Bitcoin, I'll sell it, and if I'll be out for more than a few hours, I'll set a stop loss to protect myself against a large loss.

What would you do now?

To avoid a large loss, I must use the stop loss technique taught in this lecture on my trading and wait for a time when the market is bullish before buying the asset again.This lesson has clarified the measures I need to take to stay online in my trades, and the stop loss element, of course, is a wonderful one to think about. Given that I didn't want to be gone for longer hours but got caught up, and was unable to keep track of the price behaviour of my asset, and the market went down before I realised it, that would be a huge loss on my part, and to avoid that, I would use the stop loss on my trading as explained in this lecture to avoid a large loss and wait for another time when the market is bullish and buy.

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

Before I tried my strategy on a demo account, I had to trade with real money. I had no prior knowledge of the account or how it operated. I made the blunder of risking more than I thought I was and failing and I did not stop trade so It was great loss for me.
This is something I had to learn. A contrarian is someone who does the complete opposite of what everyone else is doing. That's what we're supposed to do. When everyone is afraid, buy. The ideal is excellent, but the strategy is missing a third component.

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

Stop trade when you look price goes down

Never trade that money which you did not want to lost
I learnt to stop trade when we look price goes down This policy works to me because it protects against failure and allows ordinary citizens to buy while the economy is rising. When the economy is bearish and profits are down, it's a smart idea to get in more goods. It increases the operating margin while still preventing the company from being swept into a poor zone.
Never spend funds you can't afford to risk is ideal for new investors. As a novice, I was still unsure where to spend capital that I couldn't afford to risk. Following a string of defeats in my trading, I began to experience depression. First and foremost, we must remember that the capital we spend will or may not yield a profit.

C) Place yourself in the following situation:

You're browsing Twitter and you see this

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.

What is would have done when the price of BTC deceased?

I did not stop and wait that it may increase but it was goes down and I got severe loss

What I would do now?

Now, I'm seeing several things that might cause the price to decrease. I'd sell my bitcoins. Knowing that transferring a cryptocurrency asset to another network causes the value of the cryptocurrency to drop, it is prudent to sell BTC.

Conclusion:

Traders can be certain of their trading strategies and implement the requisite stop loss steps to make secure bets and prevent large losses in the crypto industry, which may be unpredictable at any moment.

Cc: @fendit