Advice For You From Looking At My First Trades (Transcript)

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Advice For You From Looking At My First Trades

[00:00] Welcome to bit better have my money. I am Mitchell Stulken. Welcome, welcome. Uh, so I’m switching. Before I had been using coin tracking info, a one so you guys could look at my portfolio to kind of keep track of my own trades, things like that. They had a great a tax thing which I haven’t had to use yet, but um, other than that it was, it was okay. It was, it was just a pain to get set up. So I’m switching over to Delta, the Delta portfolio tracking APP, which I like much much better. Uh, but that caused me to have to go through and look at some of my very first trades. So that was kind of neat. I, I wasn’t, I was doing like $30, some, like some of my lowest ones were $10. $100 was a lot for me to invest at one time back then.

[00:59] So all of these, most of them are pretty small. I was all, I was learning how to do it and it was, that was just the best way I thought to do it. I’m good experience. Don’t have a bunch of money in there, but I’m still learning. So while I was going through that, I actually started thinking of things that, uh, that I have learned and how far I’ve come and I thought I’d share that with you guys. So here’s the best advice you could get from looking at my first crypto trades. Uh, I will put, if you want to read it, a look at it later, it’s also on the blog. I will put it in the notes. So a cool little quote I found from Ralph banks, he said, learning by experience often as painful and the more it hurts, the more you learn.

[01:45] And that is the truth because losing money hurts. It sucks. No one likes to do it. It’s hard enough to make you just don’t want to blow it. So, uh, but it is, it’s a great way to learn is by experience. I’m sure you all know that, you know, when you first start out, you’re never the best at anything. You, you make mistakes in the beginning. And investing and trading are no different. So, uh, I do this, so many people don’t like to share their mistakes, especially when investing because you lose money and then people, it’s just not everyone will share, hey, look at this huge run up. I had how much money I made, but they never really tell you about how much they lost a, unless you’re really close to them, me, you know, and with people, people probably will call me stupid, but whatever, I don’t care.

[02:35] I will like to share like doing this because it helps you guys learn and also helps me learn. Uh, so that’s kind of why I’ve been sharing this. I see some people really seem to like it. I get some bad feedback as well, but that’s just, that’s the Internet for you. So that’s Kinda why I’m doing it. I hope it helps you, it helps me. Um, but with that, here is the advice. Um, so the first one, number one, start with small amounts because you will make mistakes. That’s why when I first started I was doing really small amounts, like $10 and then I’d watch and I’d invest again, like $10 if the price fell. And that really allowed me to accumulate a different prices. It allowed me to get comfortable moving money around on the exchanges, setting by orders, so I wasn’t setting with, you know, if I did mess up, which luckily I never did, but it wasn’t a ton of money.

[03:36] Um, and also, even though it is a small amount of money, you still have money in the game and you’re going to feel it. It’s just super important to get used to feeling that, oh my God, I’m losing 15, 20 percent on a small amount than doing a ton and then it’s even worse. So you kind of build up a tolerance, I guess you could say. So that’s the first one. The second one, uh, so the first coin I found on my own was metaverse etp. And because it was like the first one I found, I kind of got attached to it. Do not get attached to a coin. Stay neutral. You can be positive on it, but just don’t get attached. I did that with metaverse, a number three. So after I invested in metaverse, it ran up really quick and I was just blown away with, oh my God.

[04:37] So I put more money in to make more of a profit when selling would’ve been a better thing to do. Um, because it did fall and I left that money in thinking it was just going to go up. It ran up quite a bit. So I put more money in thinking and then it dropped. But selling what it would’ve definitely been, don’t get, don’t get a little too crazy a number four. So I was over 100 percent return on metaverse, but I staked my coins with their wallet to get a 20 percent return. So selling was not an option. You get an automatic 20 percent stake in their coins and I did that. It sounded really, really good. But you know, 100 is 100 percent returns way better than 20. So make sure you want to stake your coins. One hundred percent returns always better than 20 percent.

[05:32] Just make, just think it through, you know, you can’t get at them for a year, which sometimes might not be a bad thing. I’m number five. So I like iota. Uh, the tangle, I like it quite a bit. Uh, but that did not stop me from selling. I did sell iota. Uh, I got in around forty cents I believe. And at one point it was like five 80 somewhere I sold at $5, 65 percent. So I had a really, really good return. Um, this is where I did learn. I didn’t get attached and I sold it. So if you’re doing that, if possible, take at least your initial investment out. That’s what I did with iota. Took my initial investment with a little bit more. Um, so I still kept some, but at least this way I got some profit out of it. So number six here, when selling, you can always leave coins behind for the long term.

[06:38] Do not look at it like an all, like selling as an all or nothing proposition like I did with iota. I took my initial profit a little bit extra, but I left some coins on the, on the, in there, yes, I could have taken more profit, but I really like iota so I just kind of left him in there and it’ll kind of be like a longterm thing. A number $7 cost averaging is a good thing. That is for sure. So dollar cost averaging instead of buying all at once. So if you have like a thousand dollars instead of spending a thousand dollars all at one time, you could say by $100 every day or $100 every week or however you want to do it. So you could set by prices or die ever. Bays and then you would, you would buy at that price or a day? I do like right now, I still do it.

[07:30] I buy it. I’m like every Wednesday. Um, so it’s an easy way if you don’t have a ton of money, um, you know, saved up and, or even if you don’t want to put a ton of money on at once, just do little by little. That’s great. Uh, so number eight, you can also dollar cost average when selling. So like when I sold iota, I didn’t sell everything I wanted to sell right away. I saw a little bit weighted, it actually went up, I sold a little more and you can actually set sell orders at different prices. So, and that’s not a bad idea because I waited on that one. My return was actually bigger than it would’ve been if I just sell, sold all that, that one price. So remember to do that, a lot of people think when they sell, they have to sell everything.

[08:16] You don’t. I’m just kind of in your head. So here’s nine the and now this, this one. This is probably my biggest thing I learned. So number nine, uh, I sold 100 coin at $75, which I made around 70. Sorry, when I sold 100 of my Zeke Cohen, I sold them around $75. Yeah, there we go. And basically I made 7,500 with that. Uh, just a week later, the price of the coin was up to 150. So if I had waited a week, I would have made 15 k instead of 7,500. Now that that’s a significant amount of money and it really, really did bother me for a little bit. Uh, that was my biggest right there. Just yeah. But right now z coin is an $18. So my sale at 75 looks pretty damn good and I’m pretty happy about it. Um, so be happy with what you got.

[09:26] A, it’s at least you got some odd to think. If I wouldn’t even assault then I lost even more money. Uh, so that’s, uh, one of the bigger things here is probably the biggest mistake I made on this one. Number 10. So I’ve talked about before I own a z coin master node, uh, for what, for those of you that don’t know, a master node is when you own a certain amount of coins of, you know, like for example, I own a certain amount of Zeke coin and then I can process transactions for that network and then they actually pay you back in that coin and to own a master node. Every coin, every coin that has a master node, the amount is different, but it usually takes quite a few coins and it can take quite a bit of money to own a master nodes. So for the most, it’s not usually a small deal.

[10:17] Uh, there are some cheaper ones out there, but the really, really good ones can be expensive. I think the last I looked at dash masterone was like $300,000, something like that. Uh, so, uh, when the price of the coin got up to $150, I did not sell anymore because I owned that master node and that I think was my biggest mistake. I was looking at getting, you know, they, they pay you a decent amount, but it’s not, not what it could have made when, if I would sold at 1:50. Um, don’t let anything keep you from selling if you think you should. I remember specifically looking at it thinking, wow, I should just sell everything. But at the time to the market was going up, everyone was really excited. I really did. I thought, I thought I should just sell everything. Put it all into bitcoin or into, into maybe even cash out some or put it into, at the time there was only tethered.

[11:22] That’s one of the main reason or another. I didn’t want to use tether, but um, yeah, I didn’t sell the at the 150 mark, now it’s down to $18 and I still own a ton of z coin, which is fine. I still like it and I still get paid, but for the amount I would have made if I had a sold at 150, I could have, if I’d have waited, I could buy way more than one master node right now. Way More so don’t let, like if you own a master node or if you’re staking, you really got to make sure just don’t let anything stop you from selling. If you think you should, if you’re able to, uh, it’s just be, be smart about it. Um, and don’t worry about losing the master node if you have one. So to recap here, start with small amounts because you will make mistakes, uh, to do not get attached to a coin.

[12:22] Stayed neutral, shrill about it. Three a cell, you know, if so, like after I put a one in the metaverse and rose quickly and I put more money in selling would’ve been better than putting more money in a number four. Make sure you want to stake your coins, make sure, because you can’t get Adam every coin if when you stay. Kim has a different length. So just make sure you really want to do that. A five if possible, take at least your initial investment out. I really, really do. I try to do this as much as possible because when you do do that, the money left in there. It’s just like free money. It’s not going to hurt you if you lost it, it’s just free money. Uh, so if you put $50 in and you doubled up and you have 100, now take that 50 out in the 50, left in there.

[13:19] It doesn’t really matter. It does, but it doesn’t, it just, it’ll hurt us less. A six when selling. You can always leave coins behind for a longterm hold. Don’t think it’s all or nothing when selling. Just you can add, that’s what I do a lot. I won’t sell them all, keep them because it gives me A. I don’t want to, I don’t want to miss out on that one. That’s going to be massive. Uh, I at least want to hold like five of something you just never know. It’s also my ocd, but um, they don’t be afraid to do that $7 cost average. Some people talked bad about dollar cost averaging. I really like it. So it’s, it’s an easy way just to get in small amounts, little by little eight. You can dollar cost when selling. You don’t have to sell all at once.

[14:05] Like I said earlier, you can sell a little by little, nine or nine. Never feel bad about taking profit focused on what you got, not what you do not have. Like I said, when I sold my 100 z coin for 7,500 bucks a week later, I could have made 15 k did bother me, but never feel bad. Never feel bad about taking profit. Just focus on what you got. Um, because things can, can change. Perspectives can shift. 10. Let nothing keep you from selling if you think you should. That is one of the biggest things about owning that mind master node that I wish I would have changed, but is what it is. Leased them, rake it in the z coin. So that’s the advice I got for you for going through mine, uh, like to know your comments on it. See what you guys think, or if you’ve looked back at your earliest trades in what you have found to be kind of interesting to hear. Uh, so would you kindly tap, go ahead and tap it. Tap that like button. I’ll wait. Tap the subscribe button away for you to do it. Go ahead. Just tap it, just little tab. There you go. All Right, nice. Nice. And with that I will talk to you later.

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