Hello my fellow read.cash community,
I am just an ordinary 24 years old crypto investor from Malaysia.

TLDR 

1) Covid19, economy downturn, invest into crypto.
2) Investment mistake due to negligence - Lost 1.5k USD
3) Lessons learned from mistake

• Don't make decision based on rumors
  Avoid Leveraging on Future Markets
  Set Take Profit / Stop Loss
  Never put all your investments in one basket & Discipline

4) My current crypto investment summary

• Capital = $2,232.94
  Current Asset = $740.20
  Total PNL = -$1,492.74

Previously I have only been investing in my local stock exchange (KLSE) on high potential and stable (Blue Chip) counters to secure my investments. To minimize my risk of making unfavorable investments, I have read lots of company annual reports, financial statements, studying their business modals, news, etc.

The recent Covid19 pandemic have heavily impacted the economy and most of the counters I invested in went red (except for healthcare industry such as glove and medical stocks which I didn't invest in, I invested heavily on finance and construction at that time). By the time I realize I should've shifted my investments to healthcare industry it is already too late as every counters are heavily pumped by whale where I think it is very risky to do so.

I started looking for other investment opportunities and remembered a friend of mine used to tell about Bitcoin and how promising it was 5 years ago, at that point of time looking at the value of Bitcoin just didn't get my interest as I do not think and expect it to be adopted. Therefore I contacted him and he introduced me a few platforms where I can set up my wallets and start buying Cryptocurrencies such as (Luno, Binance, Remitano). Then, I started joining my local community groups to get more exposures and learn more about the crypto world. That is how I came across noise.cash.

I have been using noise.cash for around 1-2 months and have gotten lots of exposure and motivation from @bmjc98 on read.cash regarding how to manage / keep track of my crypto investments. Previously I just cash in from time to time without keeping track of my investments without knowing if I am actually making a loss or profiting from my investments in crypto. After seeing how one of our community member @bmjc98 manage her BCH wallets, I got inspired and decided to start getting serious and discipline myself in managing my investments in crypto.

The purpose of me writing this article is to share my own experience on my crypto investments and hopefully you all can learn from my mistakes and avoid repeating stupid/risky decisions I have made which causes me to lose lots and lots of money.
I have lost 1.5k USD in the past as I was not disciplined enough and went full ape mode on the XRP (It was during the Wall Street Bets XRP pump rumor). At first I was making profit around 20% so I was like okay this looks good.. I'll just leave it here and proceeds to drive home from work, went to shower and grab dinner.. until the so called 'pump' begins..

I went in at 0.64 as shown at the graph above and my entire position got liquidated at 0.43.. I had few chances to cut loss but I did not do it as I was thinking 'There's still hope as long as I don't cut loss I can still recoup some losses when the XRP army comes' Wall Street Bets did it once with GME, they can definitely do it once more for XRP and I will just exist once I made a lil profit. And yeap my greed and reluctant to cut loss have resulted in me losing my entire investment I had.

From this experience I have learned a few things:

1) Don't make decision based on rumors
-If it is something easily accessible by everyone then people can just get ahead and strategize against the believers.

For example what happened here was everyone knows about the XRP pump.
Therefore there are investors (A) who pump early and dump during the 'XRP pump' is happening resulting everyone to buy the XRP at high prices whereby the early investors (A) takes profit.

2) Avoid Leveraging on Future Markets
-If you are a newbie like me who does not have lots of experience in the Crypto world or the specific coin you are investing in.. Never Leverage on Future Markets.. I'm pretty sure you understand why based on what happened to me as explained above..
Longing and Shorting is very risky as the market moves in a very unpredictable way.. Whales are always manipulating it (sudden pumps/dumps) causing investors who long/short gets their position liquidated.

Remember: High Risk High Rewards, There are never zero risk when it comes to investment. If you are not confident, go for Spot market instead of future market.

3) Set Take Profit / Stop Loss
-Before deciding to open a position it is best to set TP/SL. Without these, your greed will backfire, when you are in profit your mindset may be like mine 'I will close it later, it is going up, if I stop now I will miss out on the potential gains' or 'It already went down so much, it shouldn't be happening, the rebound will be coming soon'. In the end, the reluctant will just result in losses.

I am still looking for guides and advices on TP/SL if you guys got any, please comment below and share some knowledge with me 😊. 'Currently looking into Technical Analysis as references to setting my TP/SL'


4) Never put all your investments in one basket & Discipline

-Always diversify and spread your investments.. Avoid repeating my mistake by shifting all my investments to one coin and leverage it (Such a common newbie mistake). Luckily I did not liquidate my stocks and went all in into this as well.

-One of the reason why I am able to make such a stupid decision is due to my lack of discipline.. I did not take crypto investments seriously (Never keep track of my deposits, assets) and as a result I got punished for my negligence and lost a total of 1.5k USD (That is like my 3-4months savings from my salary at least). I'm pretty sure I wont go ape mode if I knew my financial standings at that point of the time.

I was born in a pretty decent family, I do not have much commitments and financial burdens, I only invest my savings therefore even losing this huge amount of 1.5k USD, I can still manage to live on with life... One thing we should all avoid is to invest everything we have especially in crypto as there is always risk in investment. We should always invest what we can lose.


I have learned my lesson and from now on I will be keeping track of every transactions and have a summary of my investments from time to time. I will be sharing them with you all here from time to time to show my progress and what I've done to my crypto investments (This includes any trading on exchanges - Buying and selling coins).

For now, it look like this.. I have included the 1.5k loss to remind myself about the stupid decision I have made and to never repeat it. As I did not keep track of my previous deposits. I will just put in all my current balances the the current market price as opening balance...

I have always been reluctant to record this because I have the mentality of 'I didn't keep track of all my transactions in the past, if I were to start writing everything down, there will be many missing information'.. If I am stuck with this mentality I will never ever be able to start keeping track of my investments. Therefore I decided to put my current positions as my opening balance and capital.

You guys may be wondering where did my BCH went, as BCH suddenly just went boom overnight and I have a feeling it will dip again therefore I converted them to fiat coins. Then, I placed them in Nexo as I believe this platform is promising and it gives interest for my savings there.

Once again I am really thankful to @bmjc98 for inspiring me to start managing and keeping track of my crypto investments. Feel free to check out her articles as she shares many information and knowledges. She also have a charity box to help out those who are needy.

If you guys want to learn how to use excel spreadsheet to keep track of your crypto wallets, feel free to check out this article by @bmjc98.

Sorry guys if you find this article messy, I am still new to this, will improve myself, please drop down advices below on how I can improve myself in crypto investments as well as writing articles.