Last night I was catching up with my friend who recently invested quite heavily into crypto on behalf of his mother and his portfolio is doing rather well. He is looking like a genius especially with COTI having made a 80% move before correcting ready for the next upward wave.
He had sold the pump and taken profit which is great if you know what you are doing and he definitely is no crypto guru. I obviously said well done and what is the plan now? The plan was to wait and buy back when he thinks it is the right time and this is pure guesswork. When I mentioned the expected correction which normally happens after a sudden increase in price he was unaware that this happened. Scary stuff and why most retail investors fail as firstly they have no patience for holding and secondly have no knowledge.
The advice I gave him was to buy back and stop gambling because the price correction could happen quickly and then he is chasing a green candle costing him more the profit he cashed out. The above chart for COTI which 
What I do not understand is you purchased a crypto near the bottom at a great entry price and you think you can trade and make more. Yes my friend earned an extra 4000 COTI which has been invested back into the portfolio, but and a big but as the risk is huge and not worth it. We are talking about a proper retail investor here who has never made profit out of crypto and only knows losses.
I was shocked and told him to not be such an idiot because the only way this investment portfolio will fail is by his meddling. His wife was listening in to our conversation as they were busy preparing food together and she said she will make sure he listens. The risk of being locked out your investment chasing a green candle is very real and the $200 profit earned could be lost in minutes.
COTI is expected to increase in price again over the next few days and expect as a minimum the price to at least double from where we currently are. The price hit 0.058c two days ago and is now down 30% at 0.045c and we should see 0.08c as a minimum within the next day or so. A long way to go from the $0.66c we saw in 2021 when it reached the all time high, but then most crypto is in the same boat being so far of their ATH's.
I will not advise my friend if he does not listen and will chat with him next when he comes to stay next week Monday. I have enough to worry about without having to baby sit a loose cannon who thinks he is a trader. We know in crypto things can turn ugly very quickly and one can never outsmart the market so removing risk often helps with the final outcome. Why chase cents which in this case was roughly $200 in profit when there are thousands of dollars on the line when the time is right for selling. The crypto market moves quickly and in this case the risk was not worth the reward.
