The Painful Lessons of My Crypto Trading Journey (XRP)

Cryptocurrency

***This is not financial advice. I have positions in XRP, but this is merely sharing some of my blunders in the crypto space and hoping to learn from others. THIS IS NOT FINANCIAL ADVICE!***

With over 20 years of experience, I am a seasoned financial advisor (MBA, financial analyst, self-taught, and FINRA certified — a fairly standard combination among my other friends banging their heads about crypto volatility). As the fund manager at BGS for the last 8 years, I felt confident in my intricate understanding of trading and investing. I had a wealth of knowledge to draw from. And then I began to dip my toes into the world of cryptocurrency. My journey into that world has been filled with many painful lessons that have tested my resolve and reshaped my understanding of trading.

Treated XRP Like a Stock

One of my most significant mistakes was thinking of XRP as a stock. I had always depended on historical performance trends in the stock market to guide my investment decisions. Past performance could give me a good idea about future movements. But I soon learned that this doesn’t translate into the crypto space.