Steemit Crypto Academy Contest / S7W2 - Relive Your Top Moments of the Year 2022 (about your crypto trading experience).
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Cryptocurrency is a blessing for me. After all, I spent three years with cryptocurrency, seeing its ups and downs. I have seen many people who have made a lot of profit from this market in a short period of time and have managed to build a strong portfolio for themselves. Again, I saw many people who lost everything, became destitute, and left the crypto market.
In 2022, We have seen many downsides of crypto market. The year has witnessed many of the biggest disaster in the history of crypto so far. Traders here have encountered events that no one had ever imagined. Along with old traders, many new traders have joined the market with the hope that crypto might change their fortunes.
Hello friends, I hope you are all well. The year 2022 was not so good for cryptocurrencies, but it was very satisfying for free mining and small traders like me. Through today's contest, I will share with you my experiences in crypto trading in 2022.
What were your best moments in crypto trading in 2022?
I entered the trading world for the first time in 2022. There is always a lot to learn here. One wrong step may bring us down. So let's share all the good moments I experienced.
My best golden crypto trading moment of 2022 was in April. When the steem pumped out, it went to 0.60$ . Before joining club 100, I deposited some steem in my Binance wallet little by little since 2021. Besides that, after joining Club 100, I converted all my TRX rewards into Steem .I didn't have any assets in my wallet other than Steem.
Steem pumped on April 22th. which was the best moment of the year for me. Steem's price goes up to 0.60 cents in 24 hours. I got up to about 1000+ USD by selling my steem in about four steps. Through this STEEM, I was able to build my own portfolio for the first time in the crypto market.
April,2022- Steem to the moon.🚀🚀
Then another top moment of mine happened in September. Although in this case I took some risk, I invested in a coin in which the big whales of the market were losing a lot. I am talking about the Luna Coin, which collapsed in May.
It was down so much that I invested some of my assets here. I invested here when it was deep. I set the stop-limit immediately after the purchase. And by the month of September, it had pumped a lot.
My buy and sell prices
Although I could not sell at the highest price, I am satisfied with the profit I could make. One should not be too greedy in the crypto world.Then, when it went down again, I bought it again. So far, I have profited twice from this coin. I am currently holding only that worth of coins as I have profited from this coin.
I will hold only the assets that I have profited from this equal value coins till 2025
What were your worst moments in crypto trading in 2022? Tell us about your experiences.
As a new trader, the year 2022 was very instructive for me, as I learned a lot from this period.
I used to follow many crypto traders and analysts on YouTube and Twitter. Being new to trading, I used to watch many YouTube video tutorials. There is a token suggestion video on Metaverse. I can learn about the token project there. The name of the token is TVK.
After doing a lot of research, I really liked Token's project, their activities, and their team's work. So I followed them on Twitter for a while. Seeing their various Metaverse projects and official sponsorships in sports like Formula One makes me think the future of this token is very positive. So I took my first trade considering its market cap, limited supply, and future of metaverse.
Their Twitter page and great partnerships
My biggest mistake was that I invested about 30% of my portfolio in this tokens. But we all know that after Ukraine and Russia war in April, all ALT coins took a big dump. After that the token price dropped by 30%, I bought again to reduce my average buying price. Thus I invested on this token often in four steps.
When BTC slowly dropped to 16k in November, It dumped about 70% of my buying rate.I believe this will give me good profits when the market conditions are good, so I haven't sold yet. My target is to hold on until 2025. This is the worst crypto-trading moment of 2022 for me.
Recovering my losses slowly.I believe this will give me good profits when the market conditions are good
As we all know, the 2022 FIFA World Cup was held in November. There was a lot of hype around fan tokens. I also thought that since the World Cup comes around once every four years, these fan tokens might pump a few times during the game. So I thoroughly researched and invested in the top five fan tokens.
I know these tokens have no guarantee, so I invested very little money here. Out of five tokens, I was able to profit by like ten percent on only two tokens. I had to sell the remaining three fan tokens at a loss. This is a bad trading experience for me in 2022.
What did you learn from these experiences of 2022?
However, trading in crypto is not as easy as we think it is after watching others profit. The principle of the market is that someone will earn profit and someone will lose. I have learned a lot from my trading experience in the last year.
First of all, we should not invest most of our assets in one coin. As I did with the TVK token. There is a saying in cryptoworld : "Don't put all your eggs in one basket." I understand that now. It is more difficult to protect than to build a portfolio. So we must first understand portfolio management well.
Secondly, we should not invest in penny token on someone's word. All that glitters is not always gold. So before buying any coin or token, you should research it well. Do not invest by looking at the marketing of any coins or their partnerships. As I was more positive thinking about the TVK token partnership with F1,
Thirdly, there is no guarantee that a coin or token will pump if it gets hyped. For example, as much as there was hype about Fan Token, the expected results were not found. A lesson for me was the mistake I made by investing in Fan Token after seeing too much hype. So in such a situation, we should not be impatient.
In 2022, I saw many reputed wallet collapses. We must be concerned that our funds are secure. We should definitely use Decentralize Wallet to keep funds.
To survive in the latest crypto market, we must give up greed. I have seen many people, even after pumping the coins they bought, hold them in the hope of extra profit, but they do not get the profit they got when they first sold. Therefore, if we want to survive in this market for a long time, we cannot be greedy.
Tell us about your future in crypto trading for this year in 2023.
In the new state, I will not make the same mistakes that I did in the past. 2023 is more important for me. I will try to improve my position in the crypto market in 2023 by utilizing all the experiences I have gained in trading over the last year.
Diversifying my portfolio: I will try to make my portfolio safe; currently, I am trying to take care of risk management and smart money concepts.
Will keep my eyes on market trend: Since the bear market is going on now, I will keep an eye on the market trend. I will analyze which coins are performing good and then make a long-term investment decision on them.
Being patient: The cryptocurrency market is very volatile. The analysis may not be what we think it will be. Many times the market's movement may not be according to our planning. So I will patiently use my funds according to market conditions.
Clear investment goal and tracking: I have a clear investment goal: to invest in some high-potential coins that can give me profits in bull markets. Apart from that, I will properly track my investments so that I can take appropriate decisions if necessary.
Conclusion
All traders, big and small, have come to the crypto market to profit. No one wants to lose here. Here I am profiting, which means someone else is also making losses. So don't be too greedy. Trade with your own conscience as much as possible. Crypto is the future of all currencies.
I would like to invite my friends @steemdoctor1 @simonnwigwe @lavanyalakshman to participate in this content. Contest Link: Steem Engagement Challenge S7-W2: Relive Your Top Moments of the Year 2022
Steem has given us a lot. It is good to hear that you have built your first portfolio through Steem, but due to some wrong trading, you have suffered a lot of losses. I hope you can recover all your lost assets in 2023 by using all the experience of 2022 and learning from your mistakes. You have shared all your best and worst moments in great detail.
This is definitely a learning experience for me. From the experience of this loss, I could understand how important portfolio diversification is and how to manage risk. But what I realized the most is that if we want to survive in this market, we can't be greedy, and we have to control our emotions.Thank for your valuable words.
https://twitter.com/ariful_yousuf/status/1615599891375591424?t=4mG78XvbODb6xTTxezRCqQ&s=19
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Voting date:
You have written very well on this topic👍🏼
Well done
Tried to show all the crypto experiences of my whole year .Thank you so much .
👍🏼
I completely agree with you. Always, we must diversify our portfolio; then, it is only possible to eliminate more losses in the crypto market.
Nice publication from you. Take care of you, my friend.
My whole year of trading experience was amazing . Many times what we think will happen does not happen. Not knowing portfolio management, I invested a third of my portfolio in one coin after seeing unusual marketing. Although it has good potential,but we should not invest too much in one coin. From now on I will focus on diversifying my portfolio.Thanks for visiting, Friend .
Thats great. Hope you get good returns on your investment.Take care.
You have written well my friend on the topic under considerations. Your future in crypto trading include diverstifying your portfolio, being patient, keeping eyes on the market trend and clear investment goal and tracking. These are indeed great plans to succeed in the crypto market. I wish you success in this contest my friend.
It is more important to gain knowledge before profiting in the crypto market. This market is so volatile that the profit gained without knowledge can be destroyed in an instant by a wrong move. I am hoping that by gaining proper experience, I can take the right steps with a good understanding of this market.Thanks a lot ,Friend .
Assalamualaikum brother,
I am happy to know that you have invested most of the capitals in the Steem token. And you have managed to get a very huge profit of it.
Also, from the Luna token, you have made a good profit as you have bought it at a very low price and still holding it. No doubt, it is much improved as compared to the time just after the crash.
You have learnt from your mistakes. Remember, it is always very important to do your own research before investing in a coin so that we can minimize the losses.
Good luck for the contest.
Walaikum Assalaam Brother ,
It was amazing to be able to create my first portfolio. But I couldn't sustain it due to some wrong moves, definitely due to investing in the wrong coin at the wrong time.
You are right; we should not invest in any coin without proper research. But many times we lose even after doing proper research because the market maker has the power to do anything at any time.
Thanks for your valuable comment ,Brother .
You're welcome brother 🙂. Yes, you are very right. And that's the very reason what we call the market as much volatile and risky.
Hi bro @ripon0630,
It's good that you collected steem tokens little by little and sold them at 0.60$ price, which made you about 1000$ profit, which is a huge amount. On the other hand, you invested in TVK and faced decline in your portfolio, actually this not only happened to you bro, I also faced this kind of problems due to bearish market. I hope your loss heals soon. You also learned some good lessons from him. My best wishes to you for the year 2023.
Regards,
@malikusman1
I got into the crypto world through Steem. That's why I'm always grateful to Steem. One of the biggest mistakes I made as a new trader was investing my maximum assets in a token. Although the token has good potential, it will not be good for us if we do portfolio management.I take the lesson from it.Thanks for your valuable comment ,bro.
You are welcome bhai jan, you are right.
Many of us made good use of the TRX we earned on Steemit last year to make some other investments to make something from crypto trading.
It's always good to put all our capital into one asset. Diversification of our portfolio will be a very good way to ensure we manage loss that can affect all the capital if it was in just one coin.
I believe first learn then earn .So now I want to learn from my mistakes and make them my strength. I converted my TRX Rewards to Steem which was very profitable for me. Thank for your valuable comment .