I decided to post this to help our newbies out there on crypto trading. It was part of my experience when I just started trading on my own. Though I really love crypto trading but I really loosed alot of funds on it due to my infant training skills. Whenever observe any drop on the coin price I'm trading on I quickly sell off due to panic believing it won't rise again.
I belonged to several group and channels that drops signal for us to buy a particular coin. I would see people rejoicing later of their profit but I would be counting my losses due to the fact that I was impatient.
As a new trader coming into the market we need to understand this concept below
On a training group I belong, I dropped a signal which I told them the coin will hit $1 soon. Many of them bought the coins of which they got over 225% profit within 24hrs of the trade but later the coin dropped after some periods, some started insulting me of wrong signal that I promised would hit $1. Many of the newbies sold off while they loose because they were impatient. Several hours later the coin rose back to about 400% again, they all started buying again without thinking "what might happen next".
This was part of what someone posted in the group
My respone
"As at the time you posted this yesterday, this coin was at 0.000013btc, when I bought $1000 again. But now at 0.000033btc have made an extra profit of $1500 which I've sold already". At times what we complain about is what some sees as an opportunity. Some few days ago when most altcoins went red, many newbies wey complaining of their loss while some saw it as an advantage to acquire more of those coins. When they talk about you making some profits on crypto trading or a coin getting to $1 quick or more, as a trader u must know that coin must be held for some few periods which has to be dropping and increasing in price.
NOTE: 1. Never invest what you can't afford to loose on any coin.
- Always take the advantage to sell at any percent profit you are comfortable with, never depend on the specific price anyone tells you if you are not ready hold the coin for long. Which means u can even decide to sell immediately u make up to 10% profit, so far you are ok with your profit.