Spot Trading Gone Wrong

So this article is written on the same day I wrote my previous article: I Spent My Last Fiat To Buy BCH Instead Of Paying My Bill.

As mentioned in my previous article, I sent my BCH from Bitcoin.com to Binance to do Spot Trading. I did, and it was successful. However, my brain was messing up at that time that instead of holding my BCH for a while and gain profit, I set a sell order at $415.

And before I could even cancel it, my sell order was already filled. I don't know what I was thinking. I was probably thinking of another dip I guess. So when the order was filled, I had to rush and set the buy order at $413, hoping to see a dump, but it didn't happen. It went up to $422 and made a little comeback at $417, but that was just it!

After that, it continued to go upward and my hopes and dreams were shattered. I was really disappointed by my negligence. Until I realized that it wasn't the end of the world yet. I mean I could still save my USDT and use it for something else.

I realized that if I couldn't use it to buy BCH, then I'd make use of it and buy another coin instead. So I canceled my buy order and looked for BNB this time.

Why BNB?

I chose BNB simply because it's also a great coin to invest in. I've also got a tiny bit of BNB and has been on the vault for quite some time now so adding more would be a good decision.

With BNB, I could also earn extra coins without investing them. As of now, I have ALICE, ATA, and TLM. It's not much coz I'm only holding a tiny bit of BNB but hopefully, I could also have more in the future.

So with my recent epic failed moment in Spot Trading, I made sure to get it right this time and BNB was a great choice. It was but the buy order was never filled. For the second time, I had no choice but to get something cheaper.

Settled in ADA

I had to cancel my order again and looked for another alternative. I looked for LTC, XRP but chose ADA over the others. I bought ADA at 1.15 for $39.6405 and the order was filled in probably less than an hour.

Closing thoughts

Honestly, I was so upset about not being able to HODL my BCH. I intended to spend my last fiat just to accumulate more BCH, but it didn't go to where it was supposed to be spent.

I blamed it for being so excited to do Spot Trading that I messed up all of a sudden. This action is the worst ever! Although I was able to buy ADA, my investment would have been great in BCH. To think I initially bought it at $396.

Oh well, there's nothing I can do about it now except to accept the fact that I made a huge, huge mistake. There's nothing I can do now since the damage has already been done.

Opportunity happens once, and I've missed it because of my negligence. Nevertheless, it's not too late to invest again. As per Gabriel said, we may not be able to buy at the cheapest but anything under $1,000 is still a great investment. Not the exact words but the thought is there.

This means that I should forgive myself now and make another transaction soon or later.