Crypto trading is a game of patient, you can't outsmart the market

in LeoFinance2 months ago

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Last week has been a bloody one for crypto hodlers and traders, the market was very red and some even sold their bags due to panic, it kinda make me feel somehow too but i know the trend, i converted my coins to a stable coin which is usdt and watch how the market keeps bleeding...

This morning i converted my usdt to those coins i was holding and decided to do some fast trade with my 1013 bake but instead of making profit, i lost a huge amount of bake, i lost 100 bake in the process so i messaged a friend of mine called donefezy and he explained some things to me about the market which i also tend to inform others maybe it will save them from huge loss...

Trading is a waiting game. You sit,you wait, and you make a lot of money all at once. Profits come in a bunches. The trick is not to lose too much in between while going sideways between your home runs"

This is a big lesson for everyone into crypto, it is not something you rush into and try to make some quick bucks, it needs time, i tried making some quick bucks in the morning but market didn't favor, if i was patient enough, i would have make times 5 and i have learnt my lesson in a hard way and will learn to be patient with my crypto hodlings...

''Remember this: When you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. You will reap benefits from their mistakes.

I felt like i was the speculator being referred to in this second quote because yea i laid the foundation for the patient ones to reap benefits from my mistake and i am leaving the speculators gang that trade in day and out to join the patience is virtue group..

Dont make the mistake we all have made back in the days... do not switch from coin to coin. you will miss all the fun.. during alt season everything will move.. its just that higher caps are first movers.. while high caps top out small caps begin to move.. you will make money just hodl

A friend of mine bought a coin at 0.4 and during the bull run when all coins were moving, his coins only did 0.45 which infuriate him and he sold it to buy another, unfortunately for him a week after, the first coin he bought at 0.4 spike to 3.5 usd, he regretted selling it to buy another coin which is stagnant . So learn to hodl your coin, stop flipping one coin to another for quick bucks

GOD BLESS

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A friend had a lot of bitcoin that he bought for cents many years ago, but even so, because of trades, to this day he has already lost 200 thousand dollars, so I am afraid :)

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but hopr he still have some bitcoin now? cos if he doesn't that will make him regret all the trade in the past

yes, he does, but the point is that because of addiction to trades, he always loses $ LOL

lol. addiction is not easy to quit

Very true, Burlarj my friend. 👍👍

thanks my man

no problem,, you write good i like it ... i also like the writings of our the one and only @olawalium ...