Crypto Academy Week 12 | Homework Post for @fendit

Hello the professor and every one welcome to this great community were we discuss mainly about crypto and this lecture is about Don't get lost in the fuzz lectured by @fendit and he gave homework which we are going to be looking at in this post.

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:

This has happened to me many times and even as i am writing this article, i bought BCH at the price of $1400 as the price reached $1480 i waited let the price drop but it still fell more at the price $1355 but i have not sell because i know there is a bigger pump coming because i checked the chart of bch in the last crypto market and it shows that bch pumped to $8k but this is not a financial advice so i will keep holding.

Question 2: Share your own experience when it comes to making mistakes in trading:
2(i.) The costly mistake I've made in Trading

One of the mistakes I made in exchanging is trading futures as a amateur. I heard about futures trading within the early days of my trading activities so I decided to grant it a attempt. I studied little on how traders traded contracts on the futures trading platform and I choose Binance futures as the testing ground. At the conclusion of it, I lost each penny because I didn't get it how the market worked and was only fascinated by making a whole lot of cash. One of the activities I took at that point that still stuns me to date is the fact that I utilized 75% leverage for the trades. I sold severally and I kept on betting with the market until I nearly went broke, at that point I decided to go to trading classes.

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

The strategy that i am going to be using in my future trade decision making is that i will never trade with every crypto i have so that if the market didn't do as i expected i don't go broke secondly fomo in is bad and that is another strategy i will use because some times the cion pumps then dump and you think it has dump finally and you fomo in but it keeps dumping so now i know i there is a dump and the coin is still up that means there is more dump coming.

Screenshot from @fendit

If a popular figure like elon musk tweet about any coin like doge you expect the coin to pump because of that tweet now you have to be fast in buying the crypto in other to gain but if you are late it is best you just don't fomo in because tweets like this pumps the price short term.

Conclusion
This is the type of lecture that we need in this community so thank you @fendit.