Thank you @fendit, for your lecture this week. Your presentation has touched me personally because you mentioned the situations I have found myself before now.



![image.png](https://cdn.steemitimages.com/DQmQsrF8haMvrFGrRzJJ1bPnQUeUtWRyoX9y1E4smAVNthX/image.png)
[Image](https://cdn.pixabay.com/photo/2015/02/20/22/39/trading-643723__480.jpg)


Having read and understood your questions, I’m here to submit my homework.

**A.What I would do if I bought BTC and the market suddenly goes bearish**

As a spot trader, I have the patience to hold. Just as the professor mentioned, I don’t invest with money that I can’t leave for a long term. Most times when I buy any crypto, I’m ready to leave it till the price is profitable to sell.

I had bought a token like this before called CFX. I bought it because it was to be listed on Binance exchange next day. After all the anticipation that the token will moon immediately it was listed, it turned out to be a dump and if I sold I would be at a big loss.

At that point I had to hold. I held the token for three weeks before it become bullish and I now sold at profit. I have this patience that someday my investment will bring profit.

This I would still do before reading this lecture. Thus, the lecture is a big boost to me, although I have also made some mistakes in the past, which will be shared later in this piece.


![image.png](https://cdn.steemitimages.com/DQmU4SbFnS2jp27LSYLtw5XBiR7ejzXgeqbE56foDrV8cFS/image.png)
[Image](https://cdn.pixabay.com/photo/2018/01/12/16/17/graph-3078546__480.png)

**B.My Personal Trading mistakes**
***First My Mistakes:*** When I was trading margin, I got into a selling position and suddenly the market turned bullish. I was watching as my money is reducing with the hope that it will later turn to my favour. I did not put a stop loss.

At a point I got frustrated and step out with the hope that by the time I am back the market will be turned in my favor. Guess what I saw! I lost my $500 in a day. Since then, I don’t trade margin again. It was BTC/BUSD pair on Binance.

 ***Strategies in this lecture that are useful to me***
I have learned the need to put stop loss if I go back to trading. For my spot trade, I have learned to overcome my emotions and act based on facts.

Before now, I used to listen to people advise and I have bought some tokens based on that. Thus, I have some tokens I’m still holding and hoping because I bought top and it became bearish.


![image.png](https://cdn.steemitimages.com/DQmPbjo491nmMw3ke26LXFDgtuHjTrjhJKAgdJWVYw7M2t9/image.png)
[Image](https://cdn.pixabay.com/photo/2018/02/08/11/17/network-3139214__480.jpg)

**C.My reaction to twitter BTC Bubble**
I love taking risk, though with what I can afford to leave for a while. I have a philosophy which says: If you buy a token and the price becomes bearish, you have not loss until you sell. This means if you keep your asset in your wallet, someday it will give you profit. Example can be found in the cases of DOGE, XRP,among others.

It is so tempting to see a potential profit making opportunity and not hup in. but with your lecture, one can now work with facts.


![image.png](https://cdn.steemitimages.com/DQmavwkztNaJeUgGnCiXPuA2oof9hWyMgivnRQztsyR9wLN/image.png)
[Image](https://cdn.pixabay.com/photo/2021/04/09/13/27/chart-6164414__480.png)

**Conclusion**
It is important to do a concrete analysis on any asset one desire to invest in. with this lecture, it becomes necessary that we don’t just read but act on it accordingly.

Thank you for stopping by.




Cc:
@fendit
@steemitblog
@steemcurator01
@steemcurator02