Free Advice Isn't Free: The Price of Following Crypto Signals

13 Apr 2024

Good Morning Bulb Family!

I hope you're all having a good day. I'm doing well, too. I woke up today feeling quite clear-headed, mainly because my mind was numbed by the cold. My roommate can be quite annoying at times. Last night, he insisted we keep the fan on because he's using medical creams to lighten his skin and believes they work better in cooler temperatures. We compromised and agreed to his request. Initially, the temperature was comfortable, and I slept peacefully.

However, when I woke up for prayers around 5:45 AM, I was so cold I could barely move my legs and hands. My roommate was no better off, completely hidden under his blanket. I haven’t yet brought a thick blanket from home, which made the cold even more unbearable.
Hehe, anyway, I got up and turned off the fan, which brought some relief. Taking a bath was another challenge as the water felt like ice, but I managed to perform my Wudhu with the cold water and offered my prayers. Now, feeling a bit more awake and refreshed, I'm here writing an article for today.

But before I dive into today's topic, let’s pause here for a moment.

If you haven’t visited my previous article yet then do visit it first.

Is this site spam free now?

The Hype and the Hope: Initial Investment

Today, I'm going to share another challenging experience I had in the crypto market. This happened about a month and a half ago when I was following signals from free groups. Binance had just launched a new coin called "BETA." On its launch day, the coin's price surged from $0.08 to around $4—I don't recall the exact price and I'm too lazy to check it again. At that time, I chose not to trade as the coin had already significantly pumped, and it seemed risky.
Image from Unsplash

A few days later, as expected, the price of the coin plummeted to $2.50 from $4.50. The admin of the free group made a video about this coin, discussing its potential. He strongly recommended buying the coin, arguing that, unlike other coins, it hadn't been overly pumped and its price was still relatively low. He believed it would skyrocket soon.

So, I decided to make this trade because the fundamentals seemed strong. However, this was the thinking of an inexperienced person at the time (yes, I'm referring to myself). I bought the coin for around $2.36, investing $70, and I set my sell order at $9. This was based on the advice from the video, where it was mentioned that the coin would easily surpass $12. The same video also advised those who had bought the coin at $4 to hold onto it. I had high expectations for this trade and, as usual, began calculating my potential profits, which could have been around $600 if my trade had hit the sell order.

A Harsh Reality: Market Downturn

Unfortunately, the market took a downturn again, and this coin also plummeted. Even when the market stabilized, the coin's value continued to drop. Faced with an emergency, I sold all my BETA coins, planning to buy them back if their price fell further.

Learning from Loss: A Tough Lesson in Trading

Image from Unsplash

When it started to rise again, I bought it back at $1.20 for $50, expecting similar profits as before. However, when I calculated my potential earnings, they amounted to only $300. That day, I learned an important lesson: never sell your coins when their value is low. I later realized that I now had fewer BETA coins than before, which is why my projected profit was significantly less.

Ending Thoughts.

Reflecting on Decisions and Moving Forward
Now, this coin has dropped again and is trading around $1.05, which means I'm facing a loss of $10. However, I have no regrets because I've learned a valuable lesson from this experience and I won't repeat these mistakes in the future.
By the way, I've left that group—funnily enough, his signals always failed whenever I followed them. It seems like I might be bad luck for him.

That's all for today, guys, because I'm feeling quite tired and sleepy now.

Note: This is an old article and also published on my account...

Let’s interact in the comment section. Thank you to all the readers for your precious time.

Do hit the like and subscribe button if you want.

Btw, if you have any queries regarding anything you can follow me on my different branches :)


Write & Read to Earn with BULB

Learn More

Enjoy this blog? Subscribe to Jawad Khan


No comments yet.
Most relevant comments are displayed, so some may have been filtered out.