What I would have done I have not read this lecture Guide, if I bought BTC couple of days ago at a price of USDT 62K and Suddenly it is at 54k as it is reflected below:?

Source

Wao! This is a bitcoin candlestick price chart on a bearish trend indicating that I have incurred some loses on my investment. This is a high risk trading and I may continue to lose if I do not close the deal.

As a low risk taker that I am, I would back out of this deal and probably hold or HODL – (hold on to dear life) since I have already lost about USD7,414 out of my principal investment. Looking more critically at the table, I had at one point being making profit when the green candlestick rose to USD64,854.00 – meaning I had gained USD 2854.00 at that point. I lost the profit and some USD7000. No trader wants to experience so much loss so I sill probably HODL. I will also probably engage in revenge trading thereafter which may make me keep on losing.

What would you do now after attending this lecture

At this point, after being enlightened by the lecture guide, I will first leave the trading deal as said earlier but now what I will do differently is set a stop loss for smart trading. With the stop loss or stop limit mechanism, I wouldn’t have lost this much in the first place even when I am sleeping.
If I had studied the market trends and done my research I wouldn’t have remained in a trade of a downward trend like this, most especially when it got as low as USD 50931.30. Also, I would study the market trend before trading. I will not rush into any trade, will remove emotions, be more analytic and ultimately learn from my mistakes.

What I would have done differently?

Given the high volatility of Bitcoins and other cryptocurrency, no one is really insured from financial losses one time or the other; not even the experienced traders so I will continue to acquire more knowledge on bitcoin trading in order to develop a favourable trading strategy.
I might even stay passive for some days and begin to engage in swing trading that profit mostly off market trends. Swing trading is more beginner - friendly and gives you a lot of time to take viable decisions on a deal.

If you have little experience when it comes to trading, tell if you got to know about someone else's experience.

I wouldn’t say I have no experience in crypto currency trading because I have two little immediate brothers and a sister who are into Bitcoin trading. I have invested in them and have followed them up to a great extent. They have at some points made some successes but at most times have complained of losses. As of today, only one of the boys is trading actively on a peer to peer bitcoin trading platform (Paxful) given the Central Bank of Nigeria policy that banned bitcoin transaction with banks in Nigeria.

I could remember when one of the boys, came to me to discuss crypto, specifically Bitcoin. It was obvious he had been stung by the rave of the moment “Bitcoin” which had been brought to the front burner by the powerful social media. He wanted to join the bandwagon, caught up by the get – rich quick appeal. I advised him to first of all do more research in order to know the nitty gritty there given the high risk nature of the venture. We have heard of a lot of bad stories. He said he would, appealing to me for some money. I promise to give him if he was serious about it.

The first mistake.

The first mistake was that he invested all his savings plus the money I gave him into Bitcoin (₦50,000). He cannot afford to lose this money. After a bout a month on his laptop and phone, he had already lost about 50% of the money. I also observed that he was over trading, engaging in revenge trading, fearful of losing his money, didn’t follow up on market trend, always leave his money on the exchange platform instead of moving it to his wallet and never really had a trading strategy.

He later moved to a peer to peer platform where he is now grounded, gaining little profit here and there. His case is better. Most people have lost their money and had to quit at a point. Crypto is a high risk asset; you could make huge profit today and make huge loss tomorrow. One has to be grounded and learn everyday to be successful at it.

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

The stop loss strategy is the strategy I will adopt and use.

Why?

Crypto currency trading goes on 24 hours every day and you are likely not to be there when things are about to go down sometimes. The “Stop loss” technique will help stop or minimize losses. You see that whenever this kind of things happens, BTC prices rush.

What I would have done before reading this Lecture Guide?

Wolla! I will definitely be excited about this news because I know that the price of bitcoin will probably skyrocket anytime soon, given the recognition of bitcoin as a medium of payment by one of the most reputable companies in the USA and in the world.

Governments of countries have never backed bitcoin as a legal tender so this is a huge development. I would be gripped by the fear of missing out of the action, so I will probably get involved in a trade too soon or will delay in closing an open trade.

What I would have done now?

That tweet from Elon Musk propelled the price of Bitcoin to a greater height as those who were pessimistic about Bitcoin began to think of investing in it with the new belief that bitcoin might eventually go mainstream.

I wouldn’t actually rush to trade but I will study the trend probably for a couple of days to avoid downward spiral of prices. I will then sell more of my Bitcoin and buy little since buying at this period will be expensive.

What I would have done differently.

One will have to be more analytic, market trendy and try to know the right moment to buy and sell. I will then back up with the stop loss limit in order to minimize losses.

Thank you @fendit for the lesson and @steemcurator02