Learn From My Investment Mistakes. Taking Some Profits is Wise!

Friday, June 16, 2017

I too have high hopes for Steem, as I did for PTS, Protoshares, Angelshares, BTSX, and BTS. As an investor, it is your responsibility to own your investment decisions. Do not risk more than you can afford to lose, be it time, money, etc…

I look in the mirror and hold that guy looking back at me responsible for making investment decisions. Investing and speculation is a game of managing risk. The better you become at it, the more successful you will become. It has taken me over 20 years to become a better, more consistent trader. However, I still have investments that I hold too long or sold too quickly.

I wrote the above over 4 months ago.

2017 Taking Some Profits

The last few months in crypto has been crazy. The dramatic rise to all coins has been unprecedented. Today, I made a decision to sell one on my holdings, Factom.

The reason I sold was I didn’t want to repeat the same mistake I made in 2014, when Bitshares was at an all time high. I rode BTS all the way down from 7422 satoshis to 303 satoshis. A painful lesson, but that experience taught me a great deal.

In hindsight, I think I could have bought bitUSD and held on to my position and made money on the decline. I believe this to be true, if not, someone please correct me.

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As an investor, I believe selling some of your holdings after an astronomical gain is prudent.

Sell Everything?

It is tempting to do so, but I have several other holdings that I plan to keep. Many of them are Bitshares user issue assets (ICOO, OBITS, HERO, STEEMFACTORY, TASKMANAGER, VIRGRO, ZAPPL). Others include Counterparty assets (Spells Of Genesis Cards, LTBCoin, DATABITS, FoldingCoin) and Komodo, and Litecoin.

I think many of these have the potential to go much higher. I could be wrong, though.

Venture Crypto Capitalist (VCC)

I’ve been fascinated by the Venture Capital business model, however, I’m not an Accredited Investor, so I can’t invest in early stage companies via private placement deals. However, Initial Crowd Offerings (ICO) within the cryptocurrency world has allowed me to become a VCC.

I haven’t been participating in the recent ICOs, however, I’m looking to start up again. If anyone is interested in discussing crypto projects and performing some due diligence, let’s talk.

I’m Thankful

I’m thankful the Lord Jesus allowed me to find out about cryptocurrencies. I’m willing to share what I learned with others, so they too can benefit. So let me know if I can help.

As always, thanks for reading.


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