One thing that can't be ignored or avoided is risk, it's part of life. Risk is what makes life worth it, it comes with hope that things things could become better. It gives a chance of hope that you can get lucky, have what you want, make it big.
It is more risky to not take risk. Playing safe won't help you, it has never helped man in this life.
You don't run away from taking risk, risk unlike the usual meaning is not a bad decision. Everyone of us sit to make decisions concerning what we do, eat, wear, say, buy, etc. We do those because we want the best, the cheapest, most satisfying, a better result etc those are risk and well calculated ones. Literally every aspect of life involves risk.
Recently, I somehow got into telegram channels where they create coins, hype, push amd also create communities of engaggers for this coins. These are memecoins not regular crypto. On those Telegram channels, giveaways are domw too once a while so I joined so many channels to increase my chance of winning. If I would describe it, it's more of trading like forex and gambling at same time because of the volatility of these coins, 80% of them are temporary because they do not have real life use cases.
Lately, something caught my attention: these guys make lots of money from the memecoin as we the members of their channels engage the platforms posted there for each memecoin. I studied how well some of the channel post about a perticilar memecoin, how often and how many channels posted them. Then, I did more by looking out for how well these memecoins accounts get engagements, also, I watch the candles per minutes hours or even days for seom that has been on for a long while.
With these, I believed I've had quite enough alleged tools or knowledge to give it my first trial. I went on to my Phantom wallet to check out for two of the memecoins that were mentioned more by the channels, I bought very small quantities. I was careful enough to buy with the amount I could risk and won't regret. Well, my first mistake was I was too late to buy, many had bought and had taken their profits already. Second mistake was I didn't go back to check often how the memecoins candles are moving to know when to take profit and leave. Third mistake was that, I expected the channel owners to say something about them selling to take profit but they don't do that.
These 3 mistakes taught me my first 3 solid lessons I will never forget and if I will tweak them to sound better. The outcome of any risk is dependent majorly on time, consistency and plan you make toward it.
Regardless of my first 3 mistakes, I put held them as lessons from my next step. I was on a memecoin for a while and after my usual research I bought and again with what I could lose. I was lucky, it did times 5, I was super happy that the lessons I learnt became useful to yield good results. I have sold my profit becauee I am constantly checking the candles and they look promising, many of the Telegram channels are still supporting and pushing it. So, I'm still in. This night, I took another hoping to win big gain and all odds are on my side that it will be a profitable risk this time around too.
Will I be taking more risks, yes!. Each risk we take come with lessons to get better to take the next risk, it's a loop tat doesn't end. Every mistake and lessons form experience that can be passed down to others to hasten their steps and help them avoid pitfalls.
Thank you for reading till the end, I hope it wa worth your time.