Crypto Academy Week 12 | Homework Post for @stream4u

Hello guys welcome to my second home work that is about a lecture by @fendit were he lectured about Don't get lost in the fuzz and he gave homework which i am going to start and finish in this article.

Trading is the buying and selling of assets, commodities, indexes stocks, raw materials, metals, forex, cryptocurrency, and any other item of value between two or more entities. While investors purchase a large volume and value of assets in the financial market for future gains, traders are known to buy and sell assets for sooner gains thereby making the market move at all times. Everybody is a trader one way or the other, there are people who actively trade in the market.

Question A: Place yourself in the following situation: You bought BTC a couple of days ago at a price of USDT 62K. Suddenly, you see that this situation is going on:

If i bought btc at the price of 62k and the price falls to 58k the best thing to do is to hold so that you don't loose, you hold until the price of the coin recovers or finds a new all time high that is why before i buy a coin i always make sure that the price of the coin fell or corrected before i buy because there is no way in a bull market that the price of crypto don't finds a higher high, it is only in a bull market that the price finds lower low.

2) Share your own experience when it comes to making mistakes in trading:
What mistakes have you done when trading and what did you learn from them? If you have little experience when it comes to trading, tell me if you got to know about someone else's experience.

I will be sharing my own mistakes and not someone else and mg mistake was when i was new in buying crypto and i fomod into buy Bch when it was at $1000 and there was a correction and the price dropped to $700 and i panicked and sold thinking that i was smart until the price recovered.

The lesson i learnt was that i fomod into buying and i was burnt by selling it in a low price than were i bought it, if ever get in such situation i will just hold and wait for it to recover.

Which of the strategies discussed in this class you find the most useful for you? Why?

From the lesson, a parcel of trading brain research was explained and I must confess that I delighted in the whole lecture. One of the techniques I discover very intriguing and valuable is "Don't let your emotions control you". To begin with, the market may be a repetition of events and with this, the market gets to be emotional as individuals need the same event to happen. Market prices are openly traded by the market and emotions are as it were going to push it up or down. Your concern should be the chart and not the noise. A lot of individuals has had FOMO since they heard a coin will go into 1000% at once and so they decided to induce into the trade when the coin hits 700% so they don't miss out on the pump or rise but at that point, the coin begins to drop and they still trust that it'll go back to its formal all-time tall but at that point, it is gone.

Question 3: Place yourself in the following situation: You're browsing Twitter and you see this:

3(i.) What I would do in this situation before reading this lecture.

In the crypto market there are two analysis that affects the movement of cryptocurrency and they are technical analysis and fundamental analysis With news like that of Elon musk, it is respected as news from a capable figure which can surely affect the cost of the token similar to if a negative speech from Donald Trump will bring the cost down. Really, I give room for essentials in trading and when I listen news like this, I don't regularly put all my reserves because it can moreover be a way for huge players to offer out their coins, so I will as it were put a division of my resource into it.

3(ii.) What I would do after reading this lecture
The lecture is informative so i will never make the mistakes like fomo into any coin that has rise just because of fear of missing out, i'd rather wait for the price to fall or correct before buying the crypto.

Conclusion
I have learnt a lot from this lecture and i have become a new trader so thank you professor @fendit.