Hello everyone I hope that you all are doing fine and you are well l&m doing another homework for this week but before that I would like to thanks to the professor for teaching us it was a really good and helpful lecture in very easy words learn a lot from  the professor

HOMEWORK

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 you have done before reading this class? What would you do now? Explain in detail if there's something you would do differently.

What would you have done before reading this class?

Before attending this class I would have made many mistakes like   like getting panic and sold my  coins when I see the situation like that I would have got really panicked and it had to face a huge loss in my capital because this has happened many time with me when I have faced situation I have had mistakes like that I would have sold all the coins without doing a proper price forecasting price forecasting is very important it can tell you when the the price will be stable and when the market can go up so I would have not thought about all those things

 I have learnt so many things from the class and if I ever had to face a situation like this where a coin is going up very high then before investing into that coin I should see the reasons why it's going up there is always some reasons behind a coin and the the uptrend so I have learnt that from this lecture that you should go to the analytics and check and you should go to the fundamental analytics and sentimental analytics also to see if there is something related to the coin if there is something that can be the reason of the boost of that coin so if the reason is solid and your analytics tells you that the coin can go more up then you should invest in that coin and if you think that the moment you you got to know about the coin and you feel like this is the pic that you should never invest in that coin because after that it can come down and it always happens with many people they invest in a coin and then after that the downfall of that coin starts and they lose most of their capital one more thing that I have learnt from this class is that you should never go with what other people says everyone is talking about Bitcoin buying and if everyone is buying don't listen to them do your own research before investing

What would you do now?

Now I have put my capital into the Bitcoin I bought it when the price was 62K USDT  and now the coin  is on downfall to its going down rapidly  what is the time in we don't have to be emotional and you don't have to panic there is a  asyn in trading that you don't lose anything until you cell First of all we have to go to exchange and see what is the volume and people are getting out of the beauty of people are selling it or not if you have invested the money that you can if you lose and you don't want to work for a long time then you can tell you you will have to face a los in capital   lets  thing about the facts  we have invested in the coin  the coin is down very down  then our invested point  if we want to get out of this trade we will have to lossa percentage of capital  so what we do is we wait for the coin to touch its low and then we buy more    and we take this trade to a long term  and wait for the market to rise back And once we see that you are a profit that we can sell 

Explain in detail if there's something you would do differently.

Well my idea of trading will be that dont buy at peak  because after that the market will come down  thats what happent all the time  thats very risky  so instead what you do is  buy at the bottom  keep your eye on coin   do your reach and then when you thing that its  going up buy it and = when its on it peak sell it  you can also buy i in middle it will just give you little less  amount of profit in the situation which professor give us the mistake that person did was he bought it without any research and  anylatics  research doesn't always tell you  that it will go up it  also tell you when the coin will go down so if i was on his place i would have done my research before putting my capital in to that coin

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

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

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.

About three months ago when I had a trade and I learnt so many  things from that trade let's talk about it from the beginning so I invested some of my capital into steam because I had more information about this coin and I have been in touch with this coins since long time due to the platform  steemit  so I  Bought it when the price was 0.60 $ And then in a few days the market started to go down not very fast slowly slowly but the mistake number one that I made was I panicked  mistake number to that I made was that I I started thinking emotionally and when the price was  0.40$ I sold my steam because I thought that it will go more down and I will lose or capital without any Research and any prediction after one week the price was above 1 Dollar  so my trade was in loss

1  never to be emotional while trading

2  never to be e penic while trading

3  always look at the facts and not to people

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

Strategies that I have found very helpful from the lecture

 Overtrading

 I think this strategy is very good and I find it very helpful for myself because I used to do this many times I used to just put my capital into any of the the coin which was in trend in many people talking about so without any research I would just put my capital into that coin which is not a good thing is the professor set so I think this strategy will help me a lot to choose a right coin honour right time and  don't listen to to what people are saying about the specific coin because they can be right you should do your on research and then decide what to do and don't put  your capital into every other coin so I have learnt that and I think this strategy  will help me  a lot in future

 Revenge trading

 well of course this is a human nature when you lose something you want to get it back on any cost and many times when you do that you lose other things as well like if you lose something you want to get that capital back by investing and two other coins or maybe into that same coin is well and that will lead you to more lost because you are doing this just to take revenge and without any Research and Analytics so I have learnt that that if you lose something don't worry about that move on and always think on facts and don't think about the revenge there has been a very helpful strategy

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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.

You see that whenever this kind of things happen, BTC prices rush. What would you have done before reading this class?

 well before attending this lecture I would have gone for a huge amount of BTC because as we all know that Elon Musk is influential person one of the richest person in the whole world and there are many people like him when they sweet or say anything Urdu anything related to cryptocurrency   we see huge rise in the price of BTC  en8 has happened many times in the past so if I see something like this I would have gone and bought a huge amount  of BTC I would have even bought it with the capital that I  it can't even afford to lose because when someone like Elon Musk do something the price go very very high and we saw that many times in the past with other coins as well like dogecoin  so I would have done that before attending this lecture

What would you do now? Explain in detail if there's something you would do differently.

As we all know that it comes under a sentimental analytics when someone with the very high influence do anything related to cryptocurrencies and when it comes to a specific coin the price go high so I would do the same I would buy that coin but this time because I have learnt so many things from the lecture I would only invest the money that I can afford to lose and  I will do my research before putting my capital and to that specific coin because we see that in the past whenever something like this happened the coin goes up and comes down with the same speed the second thing that I have learnt and I will reply is that don't be greedy don't put all your capital and to it just one coin now and before I was going for the coin without any research this time I would go for the coin but with complete research of price prediction of the coin will go up or down I will predict both and then I will put my money so then I know when to leave the market with the profit and if something bad happens like the coin crashes what I will have to do so this time I will be  completely sure about my investment

Conclusion

 trading is a really good  way of making a lot of money but if you do it right so always do your research before getting into trading

 I believe that everyone should know their psychology about trading and they should work on the the abilities there are missing in trading like doing a proper Research and ignoring the strategies like listening to your emotions and doing overtrading

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thanks for the class

@fendit