Diversifying my portfolio went wrong.

After I reached my 1 BCH goal last month I am thinking on diversifying my portfolio like the other users did. Like what they said, don’t put your money in one basket instead diversify it so that when your other coin dumps you have remaining coin that you can put your faith to pump. Diversifying my portfolio is not part of my 2021 goal, as you have read my article about my goals last January it is not included.

I started to think of this when I sold some of my BCH when the price hit the 700 dollars last month and I didn’t buy BCH again because the price didn’t go down to 600. I admit I don’t have much knowledge on trading and I am just following others if they will sell some and buy some BCH. My USDT remain on my Binance Account and wait for the BCH to dip but the BCH continue to pumps up to 1000 dollars. That time there’s a farm in Binance where you can earn TLM tokens (Alien World) if you stake some BUSD. I converted my USDT to BUSD and stake it on Binance to earn free TLM. My virtual friends told me that it is a good opportunity to earn other crypto without buying it and I follow them. I earned 2 TLM for that stake but the price of TLM drops after it was listed on Binance.

After that incident I decided to unstake my BUSD and plan to buy some other coins. It was the time that Bitcoin drops it's the price by 47,000 dollars. I check the market and the coins was almost red. Since I have no knowledge with the Technical Analysis and Fundamental Analysis , I just make a guess based on my gut feeling on the market. I scrolled the market and see each coins and their negative or loss and then see the chart as if like I knew how to read it haha.

I have 143 dollars that time. I bought IOST, Dent , Vet , Win and Doge that time for only 20 dollars each and because I have weak hands after I bought those coin and see them changing the price because its volatile I sell them again because of my emotion. After a few hours I opened my binance application again and bought dent for the price of 0.005 dollars. I leave a message in our telegram group that I bought some Dent for 100 dollars and one of my virtual friend said, Dent has a lot of supply and for him that coin will not pump instantly and we also don’t know if thats the dip of that coin. As a noob one, I got scared and sold my dent and got a profit of 2 dollars.

2 hours later I opened my binance again to check the price of the coin in the market and I saw Dent pumps. I regret that I sold my Dent because I listened to other people. I am not blaming him guys, I know its my decision and they always said DYOR Do your own research before buying and selling a coin. I am just thinking about lot of what ifs that time because if I didn’t sold it I will gain profit from it.

A day after, I check the Dent price and from 0.005 dollars yesterday its pumps up to 0.01 and I regret more and more. If only I didnt sold my Dent I gained almost 100 percent profit. But because I sold it I lose the chance to gain profit.

I bought Dent at 0.01 and sold it if I gained some profit which is 2 dollars to 3 dollars per day. I do this routine every day until I gained 16 dollars. Im so happy that time because I gained a little profit with what I did. I decided to buy Dent with all the dollars in my binance which is 159 dollars. They called it all in. I thought everyday I will gain some profit but I was wrong. I bought Dent for 0.011 and then Dent drops up to 0.009. That time I am not in the panic yet, I still convincing myself that its okay because its just a paper loss and I am not loss in real life because I didn’t sell any. Days passed, my dents continue to drops and but still I manage not to sell it until the Doge became hype again in twitter. I follow the hype and sold the 100 dollars of my dent to buy a Doge coin with a price of 0.49 dollars. I leave 21 dollars worth of dent and set it in a price where I get even the capital only which is 59 dollars.

After buying the Dogecoin, I heard a lot of news about it and the news added more stress to me because of my emotions. Earlier this morning I decided to sell my doge even if I loss 13 dollars from my original capital. I bought 100 dollars worth of doge when the price was 0.49 dollars and sold it at 87 dollars with a price of 0.43 dollars. I closed my binance account and go to the comfort room. After I went to the comfort room I checked my binance account again and saw the Doge pumps up to 0.49 dollars. I was so annoyed earlier because of my decision. I just bought some BCH with the remaining 87 dollars in my wallet and said to myself that I will find time to learn more about trading.

Realizations:

DYOR Do your own research is a must. Its not just a simple comment that you received to someone. You need to do it first because the money that you will be invest to a coin is your own money and when you entered anything who involves money you need to research first and don’t rely to someone because their journey is not the journey you will take. Maybe they gain with that coin but it doesn't mean that you will also gain from it.

Invest what you can afford to lose and learn to control emotions. For me that’s the number one I need to learn, a few users who became my virtual friends knows that especially Ruffa hahaha. She always said to me and warned me baka mangati na naman ang kamay ko so am I haha. I am so annoyed with my decision. Imagine, it is only on spot trading that you will not lose if your not going to sell. What more if I go on the future trading and lose my money for just a second and received a love letter from binance like what Ryan Val received. My goodness. I guess I need to learn more on true analysis not just on what I saw on Facebook and Twitter. I need to manage to control my emotion if I want to be a trader.

But BCH is different because even BCH goes downs I am not in panic and my thinking is it is the opportunity to buy and it will pumps after. These kind of thinking is not applicable when I am investing on other coin.

I guess I am confident with BCH.