#dontgetrekt

[cryptomemo]

How to Not get Rekt Trading Cryptocurrency

Oh, it’s been an exciting time Feb-May of 2021 watching the price of Bitcoin and Ethereum and Alt. coins escalate.

Even though it’s been cold weather outside the heat’s risen hard and fast in crypto land, and we all know that extreme heat makes everybody act crazy.

During these ‘hot months’ the evangelical crypto Youtubers— charged with the public’s growing belief in cryptocurrency— have been whipping up the crowds with a daily zeal I haven’t seen since televisual preachers.

It’s fantastic and exciting.

All I’ve been hearing from them is:

‘Get In, Get in, it’s a Bull run. The price of Crypto is Mooning’

It’s always followed with the caveat of:

‘I’m not a financial advisor. This is for entertainment purposes only.’

It’s a circus, a friggin’ circus my friends, but a fun one.

I’ve decided to run away with that circus.

But Cautiously.

Because, well, I don’t know what the F**** I’m doing.

Yet.

Up until last Wednesday, the Crypto scene was too rich for my blood. I hadn’t bought anything because all the decent sounding projects were too expensive and Bitcoin and Ethereum were out of my league altogether.

I'm not going to lie, I'm a bat-eared fox in the Crypto trading Seangeti—no that’s not true; I’m a micro-bat-eared fox, and I’ve been hiding behind a rock waiting and learning for several months for the crypto cloud to burst, so I could snap up the fleshy little tidbits (cheap Coins) the cash-heavy whales (major Bitcoin holders) would drop on the exchanges.

The sky was grey and heavy with bags of cash my friends, BAGS OF CASH waiting to fall on the Cryptoscape.

The burst happened on Wednesday the 19thof May 2021 when the Crypto Market appeared to crash down after… well reasons.

Some say it's Elon Musk and his Tweets (really? Is he the friggin’ king of crypto?) Answers on a postcard, please.

Some blamed China for banning Crypto. (China—it used to be the Russians.)

Some say it was a coordinated dump by major coin holding Whales. Releasing coins at the top and catching them in their giant mouths at the bottom, otherwise known as market manipulation.

To be fair, if I had that much Bitcoin, I’d want to realize some of that cash, but I wouldn’t drop so much that small investors would be hurt on the way down—if that’s what happened? It's a delicate ecosystem at the moment and major changes can F*** things up pretty quickly.

Whatever the reason, after three months of watching and waiting I popped my crypto cherry and cannily bought in the dip.

Or so I thought.

As I was rubbing my hot little hands together with glee, the market tumbled again shrinking my newly minted Binance portfolio.

The dip kept on dipping.

The Horror, the horror as I watched the prices fall even further.

I bought Dot at $27…ouch

Cardano at $1.16…not so bad, it still went down further.

Zilliqa at $0.11…brilliant, but it managed to go down even further into the weeds. Ouch, Ouch, Ouch.

Was Zil going to leave me with a S***t pile of nothing and crash out? It’s been kicked around in the dirt this past week being traded with not much more than dust and blood it was so low. I couldn’t look, it seemed distasteful to watch such a noble project being picked at like a carcass.

Did I buy further in the dip?

No, because I’m a newbie and Friggin’ scared about all the horror stories of Coins that never recover. To be honest it felt like Zil might not recover from the blood bath at that point. I backed away from the murky water.

Mistake? Probably. Definately.

I’ve come to understand that good cryptos are like drained vampires—they’re never really dead. Unless they’ve completely had their heads chopped off (rug pull). Over time, they will rise, eventually—if you feed them more blood (cash)

But now I know better. The moral of this story is. If you want to play on the Serengeti, you’d better get a female lions attitude—even if you are a little bat-eared fox like me.

So, How TO NOT Get Rekt trading Crypto?

Know your stuff—I’m learning, hard and fast—every day. I’ll never stop. If you don't learn to trade properly, you're just gambling.

Get a paper trading account from Trading view—it’s very user friendly and a great place to test out your newly learned strategies.

Don’t blow cash you can’t afford to lose. —Luckily— I didn’t and it’s slowly recovering.

Be Brave—Don't let emotions cloud your strategy. I bailed out this time so next time, next time my pretty’s.

My account is healthier, but it isn’t as golden as I would hope it to be. It’s not a get rich quick scheme, it’s a get rich slowly—maybe scheme.

At the end of the day, I first got into this game because I believe in the future of Blockchain technology and I bought these coins as I believe they’ll go up in value because of the projects behind them.

I want all citizens of the world to have access to de-centralized currency, bank accounts, medicine, the freedom to change your life. I’m in this because I want world change. I’m a cynic, a dreamer but most importantly a futurist who believes in humanity. I have no power, but I can vote with my wallet and I choose to invest in Blockchain.

This crypto world is a bumpy one but I’m lovin’ it, and in it for the long haul.

Are you with me?

I wish I’d bought Ethereum now, it was dirt cheap.

Oh well, next time.

See you on the Moon.

Memo x