First experiences on the crypto market

in #bitcoin8 years ago

I first came across Bitcoin in 2012, back then GPU mining was still marginally profitable. So i started mining...

I left mining when it was no longer profitable and i couln't afford the ASIC's needed to pull a buck. I quited... I left half a Bitcoin on my wallet, and since 2014 it was forgotten. On late May of 2017, i came across an article about cryptocurrencies and bots. That was the beginning of my still short journey into trading and alt coins.

After i had a quick search on the web about trading and cryptos i transfered 0.05BTC to Poloniex exchange. From what i'd learn you should diversify your investments and choose coins according to your balance. since i had 0.05BTC i chose the cheapest ones.

Greedy

My first buys were DOGE (twice), BCN and SC at about 0.01BTC on each. On the same day i sold half the DOGE and SC at a profit (11% on DOGE and 14% on SC)... i was a master!! I own this... gonna make a fortune!! - these were my thoughts...
So i bought more. Next day i bougth PPC and sold the rest of my DOGE and BCN.

It kept going like this, i was unstopable!! Until i wasn't...

I kept buying without any type of chart analysis, price checking, nothing. It came a point i bought shitcoins at All Time High prices that crashed. I bought into pump 'n' dumps. I was a FOMO buyer. Buying because coins were going insane in price! End result i was stuck with coins that drop 50 or 60% in value. Some of wich i still hold today, like DGB.

Today i'm still a noob and make mistakes but, i'm much more careful. I started looking at charts, i'm learning to read them, understand what they mean and what tools can one use to aid on what coins to invest and when to buy or sell.

Follow me if you want to know more about the journey. Next time i'll go more in-depth about bot (automated trading) technical analysis, etc...

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Wow, not sure what happened to my original comments. Anyway, very similar story to yours. Check out @thechartguys for awesome trading analysis.

If you'd like to try to invest in alternative coins, you may read my last post to know which ones are going to be the best choice in July. https://steemit.com/bitcoin/@vikky/top-10-altcoins-going-into-july

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