Homework: Season 2, Week 4 - Don't get lost in the fuzz

Hello Everyone, so today I invite you all to read my today homework which I am going to make on the Mistakes we make while doing the trading subject which is given by Professor @fendit.

So let us continue with our homework.

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Question 1: 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:

source

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.

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To be honest I never understand why people sell their assets when they see a downfall in the price, as I have seen that like if the price of any asset has crossed some point and then go towards the downfall it always came back again to the top but maybe that coming back to the top can take time but still it came back. Or you can say I have seen people who sell their assets in fear of little loss and then that asset crosses its previous price record and then those people just get angry with themself.

So I will never sell my asset on loss as I can't afford a loss in my life, to be honest as I have seen many losses and I literally can't afford more.

And after reading this lecture I am more sure that I should have some patience and do not get scared with these little ups and downs but maybe we only can be scared with these ups and downs convert into down only.

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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 me if you got to know about someone else's experience.

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So I have personally never done any trading but my 5 years old uncle is so into it and I have seen him trading many times. I don't know but he always looks so calm but he is more into losses than profit and the main reason I think is that he doesn't do much research by himself and take advice from some top advisors.

The recent experience I got that never invest in a new crypto asset without seeing its whitepaper and other main things, as he recently put some more than $3000 into some crypto and then he got to sleep and the time he woke up that the crypto is no more in the market.

So this was the main experience I learn as I also give my 90 SBD to him and now those all are gone.

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

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The main and the most useful strategy I found the most useful is "Don't let greed and fear take the worst of you", as it has happened to me like the greed thing and I think it happens to like 98% of the people, so this strategy is the most useful in my point of view. Because if we let our greed and fear jump into this market then we will only earn losses and nothing else.

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

Source

You see that whenever this kind of thing happens, 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.

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To be honest, I personally don't want to jump into this big BTC market as the main whales are involved in this currency, or in my language you can say it is a dirty market so I will not invest in BTC before this tweet.

But after this tweet, I will buy the other main cryptos as when Elon Musk made this tweet the prices of other crypto delines and the price of BTC increase as many people take out their money from different markets and invest in BTC as every including Elon Musk knows that he is an influential person and because of his tweet the price of BTC rush.

So I will not go for BTC and will go for other main cryptos, as I can earn more profits from there than.

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So yeah that was it, I hope I covered everything the professor asked for. And if @fendit you found is missing or I didn't tell it correctly, so you're the professor you have the right to correct me hehe. Will keep an eye on the next wonderful lecture.

Regards,
@maazmoid123