So I purchased some TRON tokens when they where .03$ , I saw some post on Twitter about a new token. So I did some research read the white paper and decided I wanted to buy some tokens. I am brand new to this crypto market and I figured the only real way of learning was by doing my own research on the team. I read about Justin Sun and his story and I decided that the project has some potential and solid backing.
I bought 1500 tokens and let me tell you I was a good idea, I saw the price increase quickly and already started to see some gains, I saw that trx was trading at a higher price on Hitbtc vs. Binance, so I decided I was going to leverage my position transfer my tokens to hitbtc and sell at a higher price then transfer back to binance and buy back at an even bigger position. This all sounds great until, after I withdrew from my binance wallet to transfer to hitbtc several mins go by and nothing. At this point TRON is trading at .32$ so I am eager to cash in my Gains, waited an hour and still nothing. So I start reading on their support page and apparently you can’t transfer anything under an ETH contract to hitbtc. I have to submit a request and they will manually transfer my tokens.....Well I wasn’t the only Genius who had that same idea after reading on their forum there were more than 500+ post about people having the same issue with their TRON tokens. So 3 days go by and I finally get an email from support saying they are still working on a solution on the 4th day my tokens show up but I can’t sell them or transfer them to my trading account. By the 5th day I could sell but the price had dropped below .20 so it was aligned with binance prices so my Arbitrage was an Epic failure.
I’m in a telegram group with My best friend Brian and my buddy Luke, well we all did the same thing , we spent the 5 days waiting impatiently together and I created the hashtag of #losttron in the process. So we had some comedic relief from the whole situation but most importantly I learned a valueable lesson Don’t get greedy, it always bites you in the ass. If I would of left my positions alone I wouldn’t of spent 5 days worrying about my new acquired Gains lol I l
Also learned that this market is volatile and your best bet 9 times out of 10 is to HODL, patience patience patience.hurry up and wait ....... oh and don’t arbitrage to hitbtc with a token. LOL !
Considering historic trends HODL might be the name of the Game, early on I’m glad I learned not to sell for a loss and to be patient I’m still holding at 3x Gains and I know this will pick up in the next few weeks, they have a coin burn before March31 and are announcing partnerships with Great Companies. I’m optimistic and I’ll hold as long as it takes for me to get to my target. I’ll probably sell half at .36$ and buy the next dip back to .20$ range and take a larger position. We will see in the next few weeks what comes of it and I’ll keep you posted on any updates.
……Recon Crypto Out