I bought tokens and added them to the Blum/TON farming pool when the APR was around 500%🚀. I made this decision because I thought the Blum token wouldn’t drop below $9M (I bought it at $10M), and even if the APR dropped by half, I could still end up with a good profit💸.
But the Blum token fell to $6.3M📉, which made the strategy unprofitable. Even with the growth of the $TON token, I’m down about -7%. Sure, Blum might still go up, especially with a burn🔥 event coming in August — but that’s not the point.
My main mistake was not averaging my position when Blum dropped🥲. Of course, that would’ve added some extra risk, but if you don’t enter the farming pool with your full amount right away, this can actually be a solid strategy with much lower risk✅.
If I had averaged my position and bought Blum when it dropped to $6M, my average entry would’ve been around $8M🤔. But what really matters is that this new position would’ve also started generating farming rewards — and thanks to those additional rewards, I would’ve ended up in profit, even if Blum dropped from $8M to $6M☝️!
