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:

Question A

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.

Answer: Before reading this class

I am a newbie in the crypto world, and I have gone through a lot of worst moment during trading. Before I going through the class, my decision will be to sell all, I may not even wait for the next moment or what will happen in an hour's time. I don't like to make huge loss, so whenever I see or heard that the price of a crypto that I have in my portfolio is going down, I will quickly sell. Atimes this kind of decision profits me, but most times to my disadvantage.

Now after reading the class:

I have learnt a lot from the lecture, and I now have a lot of knowledge on trading. I will obser the price for a while and if I notice that I may incure a bigger loss then I won't hesitate to sell. I have to adopt stop loss on my trading and wait for the future when it will be suitable to buy at low price and then sell higher.

Question B

Share your own experience when it comes to making mistakes in trading:
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.
Which of the strategies discussed in this class you find the most useful for you? Why?

Answer

My experience when it comes to making mistakes in trading:

I have little experience when it comes to making mistake in trading because I am the type that invest too much than what I can bear. I have never invested more than $100 which Is very small compared to the investment of some people. But nevertheless, My common errors is selling at the wrong time because I am not that good in forecasting, so here that the price of a coming is dumping, I will sell everything I have, most time I will sell at loss all because I don't want bigger losses which most timw is to my disadvantage. The biggest of the mistake is a coin that I bought last year called uptrennd (1ups) I bought the 500 1ups in 2020 which cost me 6 dollars. I was expecting the price to go higher but the coin is now sinking and 500 coins is now less than a dollar. See the screen shot below.

The lesson I learn from my mistakes

The first lesson I learnt so far is to never rush to buy and never rush to sell.

The second lesson and which is very common is the Fear of missing out (fomo) I rush into buying some coin because I don't want to miss out, I see them as a way of making money quickly which made me to lose many times. I have learnt to be careful of this.

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

The strategy I found most useful for me is the one that says

"Never invest money that you're not willing to lose"

And the reason is that trading is all about profit or loss, is either you gain or u lose. Even though there are bigger profit in bigger risk, it is not wise to invest more than what you are not willing to lose. Any loss that can ruin one's life is too much to risk.

Question 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.

Answer i: What I would have done before reading this class?

Looking at the information above, it means that the price is going up, and normally it is right for investor fending st this time. I would buy, Since I am not the type that buys beyond what I can bear, I will buyth little I can cope with anything that comes out of it.

Answer ii : What would you do now?

Like what I have said above, my point is not far from what I would do now after undergoing the lecture. I would buy what I can bear, there is no 100% guarantee on any crypto assumption.

To round it up, one should not forget the last strategy in the lecture,

Do not let your emotions control you

Not every coin that is skyrocketing is worth buying, we should wait and observe before jumping into it...

Thanks.

Cc: @fendit
@steemcurator02
@steemitblog