Its my Story, when I started investing in Crypto in Apr 2017. I bough some 50 ETH at the price of 50$ without knowing crypto or anything but just dived into it.
And somehow, I managed to get in 20K to buy some more good coins like had 28K XRP, 85K Stellar, 100K XVG and lot of them and my porftolio went to 55K within 3 months. I was so happy and excited and having been new here did not know what will happen next. within next 2 months my portfolio went down to 23K , I was so upset, shaken down , scared thinking whether I will loose all my investments.
No, but it started to go up again, thinks got picking up, remember I did not sell any of my positions, when it went down, and when it started coming back, I switched some of my coins like Stellar, Ripple to PPT and some other coins. and within another 2 months my portfolio went back to 65K. Having experienced one correction previously, though of being more cautious , when another correction started, my portfolio started to come back down from 65 to 55 to 48 and thought I was smart and started to short.
Well, I shorted good, at one point, I should have bought it back with huge profit but did not know where the bottom is so missed it and you know what, burned 50% of my portfolio. All gone, lost 30 ETH, lost most of the shares of my coins. It was terrible mistake to short as a noob.
Again, I added 20K more to my portfolio and in December, my portfolio went back to 213K but did not short this time. (But instead learned TA and shorted very comfortably with the help of TA and very carefully , no greed, no fear just TA and made some good profit , well add some more coins to my portfolio but not usd. )
Currently my portoflio is around 70K and I saw some good gain today and expecting for a very good gain in coming months.
The few things I learned so far,
- Never, ever try to short this market and try to find the bottom.
- Hold your coins
- Dont ever sell at bottom and if you cant take the pain (Just dont look at the market or your portfolio for couple of months)
- Add more positions at the bottom
- PATIENCE is what tripled my investment and I believe, 2018 is going to be huge and I can quite my day job.
Lets see how it is going to play in 2018, having know, since 2017 and after every correction , all I had was suprise with huge profit or I can say, reward for the PAIN, PATIENCE, DESPAIR, ANGER and DEPRESSION that you alone went through during this tough times.
Good luck guys. Be Patient and you will be rewarded.