Reading this article, brought back the memory of 2015 when I just entered the Philippine Stock market. I was too idealistic at that time. I wrote down long-term goals and included some big names to accumulate shares through the years ahead. That was the original plan. But with my initial introduction to the Philippine market, I realized that long-term investing does not suit my personality. And so, I shifted to trading.
After a year, I lost 49% of my capital. It was only then that I started reading about technical analysis. The following year was not so profitable, but at least, the bleeding stopped. It was only in 2019 that I started the discipline of recording my trades. At that time, I considered such practice as necessary for me to monitor my progress. So far so good, until COVID-19 and the lockdown came.
2020, the pandemic year was profitable for me. I ended the year with 61.89% ROI. But I never thought that the re-appearance of the COVID variant would cause such a panic starting month of July this year. At least, that’s what they said in the news, though I am not really buying such idea. As a result, my last year’s gain was almost wiped out. It was then that I stumbled with Axie Infinity through my eldest son.
A Summary of my Brief Journey in Crypto Space
As I returned to my place of work, I asked our IT about Axie Infinity. To my surprise, he too has an account. He then advised me to explore DeFi. I had no idea what Defi was. As an educator, my instinct was to find a book to guide me about DeFi. I stumbled with a book written by the industry experts at defiyield.app and after digesting it, I utilized it in my journey to crypto space. Somehow, starting this way helped me a lot to avoid tempting rewards, which I later realized as typical strategy used by scammers to attract the attention of newcomers.
Nevertheless, though I am closed to five months already in this new journey, most of the time I find myself lost and unmotivated. My experience both with Reddit and Torum “banning” me for reasons that are not explained to me somehow made me suspicious about the kind of content I have been sharing. I am now convinced that the saying is really true, “easy to join, but also easy to be banned.” I hope that Hive would be different this time. Though I find Hive difficult to understand, but my initial impression is really good about this ethos of non-censorious, non-controlling, and decentralization not only in name, but in reality.
Unintentionally, I was introduced to Hive through Splinterlands. In fact, prior to creating an account on Hive, I first created an account on Steemit.com after reading a Dapp whitepaper, only to realize later that Hive left it due to some critical issues. Anyway, so far, I am happy with my initial journey on Hive.
My Reason for Writing this Article
The motivation that prompted me to write this article is to come up with my own Master Plan for 2022 inspired by the link I mentioned above. My idea is just to make it minimal. So far, my current crypto holdings are just a 1,020 staked SPS, 16 USDT, and 21 HIVE. I am still clueless how to earn and invest in SPT and LEO. As for my current card value on Splinterlands, I feel shy to share it for it is too small, an insignificant $359.36. I happened to reach Bronze I three to five days before the end of the last season.
Though the end of the year is still less than two months ahead, I decided to write this early my financial goals for next year as long as the inspiration is still there. I am not sure how long will I write again once the motivation disappears.
As I said, I just want to keep it small for a start. I intend to double the amount of my SPS by the end of next year. As for HIVE POWER, I just want to reach at least 100 hoping that this will somehow help my online activity in terms of resource credits. I also intend to increase my HIVE position from 7 to 200 for my trading activity. Regarding SPT and LEO, I think I need to study them first. My focus for next year is to increase my collection power to 100,000 to do battle at Gold III League. To achieve this, my immediate goal at this time is to secure my position at Silver III league without relying on card rentals. 15,000 collection power is my short-term goal. Currently, I only have 7,730.
As for my fund in the Philippine stock market, I am thinking to exit 50% of my position around January next year and I will use it as a standby fund to diversify to any new promising names in cryptocurrencies. As of now, I am keeping a watch list in coinmarket.com. Among these names, I include HIVE, SPS, AMAS, DOT, KSM, MATIC, and IOTX. To remind myself, I also want to add the three recommended coins by empoderat: AVA, ORN, and LEO. Among the mentioned names above, I just want to note four names with their corresponding price forecast (though this was done for 2021) for 2022 reference: LEO = $10, HIVE = $3, AVA= $10, & ORN = $20.
To put my crypto goals into table, it will look like this:
| Names | Current Holdings/$ Value | End of 2022/Approx. $ Value |
|---|---|---|
| SPS | 1,020/$455.78 | 2,000/$910 |
| HIVE Power | 21/$21.84 | 100/$104 |
| HIVE | 7/$7.2 | 200/$208 |
| Collection Power | 7,730/$359.36 | 100,000/$4,648 |
| New Coin | N/A | $200 |
| TOTAL | $855.18 | $6,070 |
So far, that’s my crypto goal for 2022.
Just want to thank both taskmaster4450 and empoderat for the inspiration and for the ideas.
If you are curious and want to try playing Splinterlands, here's my code.
Grace and peace!