I published a post on Hive/Leo a while ago describing the situation I was in. I was not sure if I was a trader or an investor. As I was starting out with Crypto and wanted to confirm my crypto journey in terms of how I want to move ahead. Trading vs investing is a classic dilemma many face when they tread on crypto and I am no exception.
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After almost six months since my first Bitcoin purchase, I still could not figure out whether I behaved as a trader or an investor. Having said that, I now own only 10% of the BTC purchases that I made in the last six months. This makes me a no HODLr for sure. I have slippery fingers and it seems really tough for me to hold onto crypto coins.
My intention was to HODL my Ethereum and Bitcoin I purchased when they were priced 320 $ and 8891 $ respectively. The BTC price jumped beyond 10K and ETH price pumped up to 400 $ and I lost my cool. I thought that was a perfect opportunity to make profit on my investment and I sold all of it. GREED was in full display. The price dumped and I bought my original portfolio and made some profit out of it.
I managed to buy ETH and BTC again at a raised price at 365 and 10.8K again.The process continued and we all know the current ETH and BTC price. I am not in a situation in purchasing both assets now coz I am not a trader. I don’t have the technical analysis skill and understanding to back up my trading at this level. The volatility we are in right now may be a perfect opportunity to trade but I am not making my moves which mean I don’t have what it takes to be a trader. On the other hand, I was not able to HODL all coins I purchased back in May which proves I am not an investor.
During this BTC buying and selling spree, I managed to make almost 1K USD in profit. Had I held onto the total BTC I purchased and sold it now, I would be +3K USD positive.
So, it is pretty clear that I am not a skilled trader and I am not a HODLr. Going forward, I may want to clarify my position while making those purchases. I may want to HODL Bitcoin but then trade other coins or may decide to HODL 50% of each purchase of all coins and trade the rest. What do you suggest? I know we have expert traders and HOLDrs here on the platform. Let me know.
The post was first published on LeoFinance Beta
