Crypto Academy - Season 2 - Homework Post for @fendit Don't get lost in the fuzz

_{Image edited on Canva}

Hello, all welcome to my Crypto homework series. Today in this blog I am going to submit my homework for the professor @fendit. I need to thank him for giving me a wonderful opportunity to express my thought about trading and for his lesson. Without getting late let's get started.

---

QUESTION 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:

In this situation, there is a two possibility which I perform. One as you mentioned in the above lesson I will use the stop-loss option, but most of the time I forgot to put stop loss. So this will be a rare possibility where order triggers automatically and sell for a minimal loss.

Next to this, I will surely make my mind accept the loss I was facing right now and sell the entire portfolio which I brought. I know this is not a good way to deal with this situation but my emotions will make me do those.

After reading the lesson which is taught by a professor which makes me set a certain strategy and follow the strategy. That will make me achieve success.

---

QUESTION 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.

Yes, I made many mistakes during trading all I learned from trading is to be patient.
As the professor mentioned in his lesson post, I make Revenge trading this does not work out in a practical way but the motions of the traders will make it. As a beginner, I faced many e losses so I tried to cover the losses by doing and small traits which lead me to additional resources without knowing my knowledge. The human brain thought it was an enemy and we have to take revenge hence it motivate us to trade continuously without calculating exact profit or loss.

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

I like the two strategies which author mentioned in his post number

• Never invest money that you are not willing to lose.
• Make a stop-loss order.

Never invest money that you are not willing to lose is exactly suitable for all the investors who are investing in the beginning stages. As a beginner I also so when was the money which I can't afford to lose but invested in trading. After facing many losses in my trade I started to get mental depression. So, first of all, we need to keep our minds at that the money which you invested may give you return or may not be given what you invested.

Secondly keeping stop loss for all the orders will help you to reduce the losses with you you can able to manage. As a cryptocurrency market has high volatility we cannot able to us your always a bull market or bear market so stop loss will help you to minimize the profit or loss hence you will always in the safer side.

---

QUESTION C- Place yourself in the following situation:
You're browsing Twitter and you see this:

After seeing this Twitter tweet definitely, I will go and buy the Bitcoin. Because this tweet was created by the world's richest man and he is allowing the customers to buy his product with Bitcoin.

This tweet and payment accepted method will promote the uses of Bitcoin hence it will get to know the numerous people like this person who tweeted has more influence on the earth. So many users who have no idea about Bitcoin will try to get knowledge of Bitcoin and surely they will invest in Bitcoin hence it will result in an increase in the price of Bitcoin.

So why can't we move forward for the boat which is going to reach our destination quickly?

---

Thank you for reading this blog up here. I really need to know how many peoples are reading my post completely so if you are reading this line. Just do the comment on what you think about my post and how I was presenting this post whether it is looking good or have to change some alignments so just let me know in the comment section.

---

_{Note:- All images used above are originally taken from @fendit post .}

---

Thank you

---

---

CC:-
@fendit
@steemcurator01
@steemcurator02
@steemcurator07