Oops, I did it again! - What NOT to do with your Crypto

By MrGrumpy | Cryptovibes | 22 Apr 2021


Just hours after I wrote my article about Staking vs Trading I went and did something truly idiotic!

If you have not read my previous article, You can read it over here - ( To Stake, or not to stake )

 

In my previous article, I mentioned how I was trying to be responsible, Stake and HODL more coins instead of doing quick trades so I can build up my portfolio as much as possible.

So just like thousands of amazing articles on the site about how to successfully trade and earn crypto, I will now be sharing my number 1 tip for getting rich with Crypto.

 

TIP 1 - Under no circumstances do what I do!

I would probably suggest that you stop reading after I finish this slightly drawn-out sentence that just keeps going, So you don't get influenced by my bad moves!

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Now that I have my disclaimer out the way.

 

For the last 2 weeks, I've been experimenting with a slightly better strategy to grow my crypto portfolio and it was starting to pay off. I have been using Pionex trading bots with a small amount of $200 for the last couple of weeks. I tend to just use it for trades that last a couple of hours unless the coin goes down. This usually means I have to wait a day or two for the coin to recover and then getting some profits.

But for the last week, I've been taking advantage of the fast-moving of DOGE. I would start my Grid bot on a dip with my $200 investment, then wait until I get to around $220 - $230. I would then set a very strict stop loss so that ill be sure to lock in at least $20 - $30 of profits.

Once I got to that point, I would stop the bot and transfer my profits over to another Wallet and a better coin.

This worked out great as I managed to move $50 in my Crypto DeFi wallet and staked it for safekeeping. Then I managed to pull out another $90 of profits from the same Doge grid bot strategy and put it into different coins.

Basically making around $140 profit from a $200 grid trading bot on Doge in a couple of days!

 

Now for the bad news!

I was doing great, I moved a bunch of profits over to another Exchange and different coins and then I got greedy!

For some reason, I thought it would be a great idea to double up and really milk Doge for a couple of hours. So I ended up trading all my NANO & XRP I had bought with my Doge profits and bought more DOGE during a dip while running a Grid bot on a different exchange.

Turns out that dip was not at the bottom!

 

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A couple of hours later things started to recover and I ended up selling and getting back into NANO.

 

But wait!, There is more!

I started hearing about SAFEMOON over on Noise.cash. So I did what I do best! I fucked up, Sold all my NANO, and bought into SAFEMOON with the thought of making some more quick gains!

As with all the coins I buy, They usually turn to shit right after I buy them. In the case of SAFEMOON, It's done pretty much what it says on the box. It was SAFE and only moving sideways for a couple of hours after I bought some.

It's been about a day since I bought into SAFEMOON and it's slowly but surely turning into the same Bloodbath I'm experiencing with our favorite little doggie coin!

 

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So what's next?

Well, my only options right now are to either sell my SAFEMOON at a bit of a loss, Stop my Doge grid bot and then just start over with my previous strategy. But with a starting balance of $150. That works out to wasting around $130 from my profits I made last week.

My second option is that I could just HODL until DOGE recovers again and something drastic happens with SAFEMOON.

I know I said it in my previous article. But I really need to start being more responsible and less impulsive with my trading.

 

Key Lessons for today? - Do NOT do what I do!

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MrGrumpy
MrGrumpy

I’m an old school Web Designer & Videographer of over 20 years


Cryptovibes
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