Monday Date:Feb 7, 2022

Article # 12

Hi! Hope you all are doing fine. Most of my time i spent here is only reading more and more articles of you all(my readcash family). But today i thought about writing something beneficial for you all.

FOMO

I made an investment in a coin without knowing it's facts (without having a proper research). I invested almost 800 dollars because i see the coin is green(going up) every time. There i felt a feeling of FOMO(fear of missing opportunity). I jumped into that coin. At first it behaved as it was doing in all its time. But after 1 week of my investment the Coin began to drop every day. I thought this drop in price was a market correction, i found it as a Chance to fill my bag, i invested again in.

After my second term investment it remain consistent only fir two days but after that it again showed a good fall in price. I invested again. It was now my third investment. I was a little bit disappointed and happy at the same time. Because the price i bought it was low. Even if goes yo the first dip price my investment will be average and i was deciding that the third purchasing price will give me an edge of huge profit.

After a week it had a 4th dip. It was a kind of shock for me. When i was expecting a confirm bullish behavior it showed totally opposite to my expectations.

Now i felt my self in a trouble, which quantity i boht in 800 dollars, now equal to that quantity was available just in 300 dollars. Here you can imagine that how much was i facing the loss.

But after that it keeps on dipping and dipping. And it goes 10x lower than my purchasing price. (it was all because i showed laziness in researching about that coin).

Now after a period of 4 months it showed me some green freen perception. Yes it went 32% green on the graph i decided to exit with 8x loss compared to my basic investment..

Today when i was scrolling Facebook. I saw a video review about that shit coin. Its circulating supply when i invented was 2 billion only. And now the circulating supply was 4 billion. What the heck! How it happened? When i look at the total supply,it was with an infinity symbol means. The coin doesn't have a confirm total supply.. And this was the reason for drop in the price. And it was really a gaming coin. People earned this coin in free and increased the quantity by earning every day. The lesson i gained from this experience is never invest in a coin without a proper research. If you are investing it without research you are going to destroy your portfolio.

_______________________

I am here with my article number #12. I have some tips for you when you are considering buying a Cryptocurency coin. Before its too late, i will start my article.

________________________

1-Research:

• When ever you have a coin in your mind to buy it, first make a research about that coin.

• You can use different websites for researching. The websites that i am using now a days are.

a) coin market cap

• On this website first you can see top 100 coins, the list is based on their market cap(how much investment a coin have total richest coin will be on top). Moreover you can search a coin on top search icon and can have total details about your desired coin.

b) coin gecko

This website is same as the coin market cap.

I have searched about #BCH here the website showed me everything about #BCH. Like

• Market cap

• 24 hours trading volume

• Fully diluted valuation

• Circulating supply

• Total supply

• And maximum supply of BCH that is 21,000,000.

So you can see here. The total and complete detail of any desired project.

2- Read white paper.

• Always read white paper of that project (coin) in which you are interested to mek investment.

• A white paper contains every detail of the project.

• What is the background what will be the future.

• What are the goals behind creation of this project all are a part of this white paper.

A white paper contains all the information from formation of a coin yo its conclusions. For example you can see a white paper of BCH(Bitcoin cash as under.)

3- Never invest on ATH.

• When a coin is at its ATH(all time high) never make investments in that coin.

• You can be a victim of loss when price comes down fall.

• If you are really interested in working in that project you should just wait for a correction or wait for a best time to buy.

• Try to get signals from different platforms.

• Where you can have idea and newses could be profit Giving.

It is not a safe decision to invest on ATH.

4- Prefer spot trading .

• If you are a newbie, always prefer spot trading.

• One quality the sport trading have, you will never experience washout of your account.

• Here the prices of your portfolio may get to the Down, but still you have a chance that one day prices may get back by taking a U-Turn.

• Its fine if you know graph reading and working behind candles you can choose future trading but always consider not more rhan 10x leverage.

5-HODl.(hold is gold).

• Cryptocurency traders are for sure familiar with the term HODL.

• It is mostly used when market crashes.

• That means don't sell your asset being in panic. Panic sellers always experience losses.

• And panic buyers are also same. Holding your asset when you are in trouble or in profit is a key to complete success.

• People mostly do this when they are in 1x profit they often take profit and run toward exit door.

• But in panic situation they miss opportunity and say alas! When they see the same coin on more than 3x..

________________________

If you want to read more articles from me you can visit my profile.

My previous articles

CIRCLE AROUND MOON

LET ME GET BACK TO MY CHILDHOOD

MY VILLAGE PHOTOGRAPHY

Thank You For Reading Patiently 

@rashid2.0