It's been a month since I bought Lazio Fan Token in Binance for trading. I bought it without searching and gaining enough information about the token, which is literally my biggest mistake. As a newbie in trading, I should DYOR more about the token before investing any amount to it, specially that I'm still learning, as I know that it is also too risky. The crypto's are volatile we all know that, so we must be aware the possibility of losing.

The token was already listed in Coinmarket and Coingecko, but it still wasn't enough to be considered as a good investment. I learned that there's still many things I should learn about trading, but as what they have said, experience is the best teacher, that brings us the greatest lesson.

I thought, trading is just as easy as, "Buy Low,Sell High," but definitely it's not like that. You can consider trading as a business proposal. You need to know the project proposition of that business, who are behind of it, the mission, vision and plans of the people behind that business. The history price and the total supply . And what are the current/future activities that can possibly make the business grow more in the future, you have to consider also the community activity behind that business. Know if how many people are in their Twitter page, Telegram group, Facebook group, and Reddit are actively supporting and talking about the goodness of that business. As a business minded, you have to focus on prospect with real value, and stay away from a business with shady founder and questionable project. That's how a business minded become successful in this field, and I'm sad that I'm not a business minded person, so I accept the proposal without proper knowledge, without brief research about the business I'm entering to.

Though it was late already for me to search some information about the token. I began searching, I went to Twitter to know if the developer are still active and doing some updates, as it is something into Rug Pull soon. But I'm not really sure about it, maybe they are still silently working on it and soon it will bloom,who knows 🤷.

Now I understand, why I should use my Twitter account, specially if I bought a new Token. It is literally important to be updated in all its activities. Lesson learned!

Upon searching more information about the token, I found out that it don't have any Telegram group, but it has a small group in Facebook. Which means the members are just hundreds, maybe some had left already since the reputation of the token is getting bad.

Too bad that many people looses their money, because of choosing the wrong token(if it can be considered as wrong! I'm not literally judging it, as I'm not an experts in terms of analysis, I'm just stating base on my experience and what I've observed. Because it really didn't let the trader earn since then). Furthermore, I also didn't found any updated activity in Reddit, besides I have also read some negative feedback about it, I felt like I'm starting regretting about my choices lol.

Although I don't really need that money, because I really save that for trading, I can't still help myself not to feel bad. The more I searched, the more negative feedback I found. But atleast today, I have finally learned the things that I need to consider before investing. Because I lose, I learned to take DYOR seriously.

So far, at the moment I have already lose 75% of my investment. I'm not sure anymore if what am I going to do about the 25% left. Some part of my mind saying that I should hodL, no matter how long, but some part of my mind says that I should let it go, as it didn't show any chance to go higher.

But from now, I will stick to BCH. Bitcoincash forever!

Authors message:

This blog is just for educational purposes only, it is not my intention to discourage you about the token or about trading. You can still DYOR and decide for yourself, as we all know that trading is for everyone.

Thank you for reading 😊

November 23,2021 22:20

Lead image source was originally edited by me using logo maker app.