Review your investment strategy TODAY!
https://brave.com/bit869

Review your investment strategy TODAY!

By bitcoindelight | bitcoindelight | 5 Apr 2020


I have published an article back in February and advised everyone to come up or review their own strategy when it comes to their personal investment strategy. I can tell from experience while prices are up nobody is too fuzzy about thinking how to react when the price drops or when to take profits. Most people are riding the wave of momentum and being happy to see double digits profit opening their trading or portfolio app.

I reckon most people got hit hard when Bitcoin dropped to under 4k in March. I didn't expect to see such a harsh price movement as well and emotions were kicking in seeing my crypto losing value in minutes. So currently I think the price of Bitcoin will go up again due to the COVID-19 crisis and the upcoming Bitcoin halvening. Personally I don't think we will see a new all-time high any time soon. However, once again I would like to remind my loyal readers here to review your personal investment strategy again. Have you learnt something from the price action in March? How much did you lose? Did you set a proper stop loss? Have you re-entered the market? When will you take profits again? Are you still happy with the platform you are trading on? Plenty of question you should go through.

No matter how experienced you think you are, there is always room for improvement. Did I get burnt? Yes...I came across DeFi (decentralized finance) in February and it took me a month to figure out what it is to build enough trust and confidence to start investing. My first investment in the DeFi space was an investment in Compound to earn an annual interest of 8%. I considered this a very safe investment. But with the harsh price drop of Ethereum in March below 110 $USD I got liquidated. Yes, liquidated. I picked this investment as I tried to be as safe as possible but I couldn't come up with additional funds to secure my investment during the price drop so I learnt my lesson to have a few more holdings available if I ever invest in Compound again.

We are still a very small community here, so I am more than happy to interact with everyone as I can still handle replying to comments. If you want to share some of your learnings, I am really curious to read about them here or connect with me on twitter. What is the most important question for yourself about your investment strategy?

Stay safe!

 

Photo by Frank Busch on Unsplash


bitcoindelight
bitcoindelight

I started mining and trading in 2017, participated in airdrops, hardforks, and ICOs. I spent much time making myself familiar with technical analysis. I like to make people aware of things I am currently doing in the crypto space, projects I am currently spending time on.

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