This is not investment advice, I am not a financial planner. I am just sharing my views, opinions, and my journey with Cryptocurrencies.

With the meteoric rise of Bitcoin (BTC) from $963 USD at the beginning of 2017 jumping to just over $20,000 USS December 2017 it's hard to avoid the conversation of Bitcoins and Cryptocurrencies.

On December 15th, 2017, I decided to jump on the bandwagon and got started with trading Cryptocurrencies.

For those that don't know what Cryptocurrencies are, they are decentralized digital assets that use a blockchain transaction database with a distributed ledger that records all transactions that take place. Bitcoin is the biggest one, but there are thousands of Altcoins (non-Bitcoins).

I've been trading for a couple of weeks and wanted to start documenting my journey with cryptos. It has definitely been a roller coaster ride with extreme highs but also extreme lows and stress.

In the past couple of weeks, I've been buying and selling Tron coins. I really like Tron as they seem to have really great technology. Their CEO Justin Sun and who is involved with Tron is going to make this a success.

This morning I sold off all my remaining Tron (TRX) coins today between 525 and 550 Satoshis (I realized early on that I'm not a long-term investor, but a day trader). TRX may go higher but I don't care anymore. As a day trader, I am trying to be comfortable with my gains and then "Exit", so that I won't be forced to do an "Escape" (enter, exit, escape. More on this later).

In the world of cryptocurrencies, you never know what will happen the next minute. You can be up $2,000+ and then be at a loss of $2,000 in the span of 20 minutes. I've been in situations where I've taken a gain at the peak, where I've taken a mid-peak gain ~$1,000, and a loss of $2,000 because I held on to it thinking it would go back up. Let me tell you, it is a much better feeling with any sorts of gain over $1 than a loss of $2,000. Along with the monetary loss, you also get this longing feeling where you think"Could've, Should've, Would've" sold at this price than I would've made "this" much. It's a tough feeling to shake.

In day-trading, I've found that the best strategy is to have a strategy. Any strategy is better than blindly buying and selling. That could be a recipe for big losses.

Enter, exit, and escape.

1: Have a point of entry where you will make your buy. The game in this business is to buy low and sell high. Easier said than done.

2: Exit strategy. When you place you buy your coins, you should have a plan of when you want to exit and recognize the gains. Then have the discipline to sell when you've made your targetted gains.

Most of my losses that I have incurred so far was when I didn't have a plan to exit, or I got greedy, saw that the prices were shooting up so I held on to it wanting to recognize larger gains. Sometimes it worked out, but most of the times it would drop quickly and my gains would not recover. Then I was usually forced to sell at a lower targetted gain.

3: Escape plan. If your coin fails, the price is tumbling, or price is stagnant then you should have an escape plan ready to stem your losses. Sometimes you have to take a loss. Having your capital stuck in a coin that is trending down or stagnant eats up your opportunity cost on other coins. If you escape, take the "L", walk away, and move on to the next trade.

There are no rooms for emotions in this fast-paced, hyper-volatile market. Enter, exit, escape.

(As I write this article after I sold off all my Tron coins, it shot up to 570 Satoshis. Which would've meant an extra $400 USD in profit for me. However, I'm okay with it because it could've easily meant -$400 USD).

If you want to get involved with cryptocurrencies. Feel free to use my referral links to set up your accounts (:

Quadrigacd is what I use to exchange Fiat currency with BTC/ETH/LTC: https://www.quadrigacx.com/?ref=hhllezlep6rv3wshzgfpu8cg
Binance is where I exchange cryptos: https://www.binance.com/?ref=13273198