Trades gone bad
So it isn't always profitable trading crypto, especially right now. After a sea of green, I have a few of my investments in the red.
I thought I would highlight some trades gone bad that I have learned from:
- BAT -41% (here I got caught up in the hype and invested quite soon after the ICO. While I like what they are doing and believe in the project, I should have spent a bit more time following the charts as there was an obvious downtrend).
- Zencash -32% (here I read a Reddit post about it, looked at the website and invested a decent chunk. I didn't really spend enough time researching the project and believe a hype post on Reddit).
- Swarm City -53% (here was a cool project which again I got sucked into a Reddit post without fully researching the project).
- Round -60.9% (here I didn't do any research at all, it was an early Ethereum token so I took out a position because I felt like it)
The lesson here is that it is easy to throw investments around expecting everything to just work. Take your time, be sure of what you are investing and whether the timing is right.