Recently, I had significant losses with a new coin. The impact was not serious due to the diversification of my portfolio (≈ US$120), however, it was the 3rd time this happened to me and this time the emotional impact was serious. I held the coin for 3 weeks and it kept going down despite moments when other coins were rising. This coin never went up. And when the market dropped, the coin dropped significantly and then very slowly returned to the starting point (where the drop occurred). At that moment, I understood that the losses were irreversible, meaning the coin became stagnant, its APR started to decrease drastically and its depth became increasingly 'immense' on the 'sell' side.
How did I recover?
The acceptance of the loss happened over time. I began to observe the behavior of other stable coins along with medium-risk coins. I used the 'convert' (swap) option and bought small amounts to then sell when I reached the goal I set. Thus, if I bought 1 dollar, I expected to obtain at least 0.05 cents. Observation and decision-making were what allowed me to recover the loss.
Lesson learned.
1. Observe the coin of interest for a couple of days. This includes the technical data of the coin.
2. Investigate what the media says about the coin.
3. Establish how much you want and 'can' take from the coin... For each dollar invested, how much do you intend to obtain? How much can you obtain? (Use swap).
4. Make decisions (based on what was planned). When you see it rising, sell... Even if it continues to rise (for example), do not regret it since your goal was achieved according to your target.
5. Read, read, read... Research how the market is doing and analyze what you have observed about the fluctuations of the coin.
6. Patience.
As of today.
I still have much more to learn, but every decision I make (now) results in gains (minimal) and few losses. I happily recovered what I lost and I am now waiting to seize new market opportunities.
Greetings.
