I have been following Elon Musk on twitter for a while. One hell of a tech savvy sarcastic nerd. The real life Ironman.
Many people including me trying to figure out what exactly his profile picture meant? The fork on the road? After some research and instincts I came to a conclusion that it is somehow related to crypto currency. Recently Tesla announced that it has bought $1.5 billion worth of bitcoin. · The company also said it would start accepting bitcoin as payment. The bitcoin prices went up afterwards.
Crypto currencies like Bitcoin, Ethereum are soaring up in recent years. I wish I had bought bitcoin back before 10 years instead of buying domains.
Meantime, This made me think what would the next bitcoin be? In my research I found Cardano ADA to be promising, I have been watching Cardano for quite sometime and it is extremely bullish.
Cardano (ADA) is not nearly as popular as Bitcoin or Ethereum, but it is just as important (if not more) as these two projects. Bitcoin and Ethereum, as of now, face 3 major problems that need to be solved for crypto to become an everyday staple. These major problems are sustainability, interoperability, and scalability. Cardano aims to be third-generation blockchain technology, advancing on existing technologies, and one of its goals is to allow you to buy your latte with no issues. Not kidding. Cardano might be the future of cryptocurrencies.
I setup my account on Binance instantly. And after careful technical analysis, understanding sentiments behind it, I decided to buy ADA. It took me nearly 5 minutes to create an account on Binance and buy it. The system developed was amazing, I didn’t have to wait to receive my cryptos in wallet, Everything was instant. How amazing that was?
After I bought ADA price are in uptrend now. I bought at the perfect DIP.
Now coming to the topic.
I am very new to the stock market, crypto currencies, penny stocks. Wish I had known about it in my early 20s. But as they say it is always better late than never. I am very active in Nepal Stock Market (NEPSE) lately.
I took me almost 2 weeks to get my DMAT, Meroshare, CRN etc. Completely unknown about these stuffs and figuring things out at the same time. I ended up going to Broker no. 57 (Aaryatara securities) in Traffic Chowk, Butwal. The guy who sits at the reception desk was pretty annoying. The way he handled things around, the way he presented himself, his language and etc. Everything was very unprofessional. I get hard time dealing with unprofessional officials. I thought, let me get this thing done and I can complain to the supervisor. Very little I knew, later I came to realize the whole system was fucked up. The name broker itself has a image for a reason. I had to deal with the system for sometime and at some point it felt very normal.
My very first trade was hydro, AKPL, I knew almost nothing. Entered at the peak point and with very little patience I sold my first trade at around 55k loss. Glad it happen. It taught me some good lessons.
Coming to the recent incident. After NIFRA was listed in the secondary market. I was able to buy NIFRA at 497, very good amount of units. Since this was a profitable trade I didn’t think twice.
Target was set to sell after it crossed 700. on February 23rd, Rabi lamichanne was about to launch his new TV channel and i was supposed to set their webpage live at exactly 11am. Since it had a logo and programs which were not yet revealed. My attention was divided. But i made sure that since the prices went up by 5% during pre open, i was very sure that it will hit positive circuit for the day and there were almost 5lakhs buyers in line (Which I made sure during very first few seconds of market opening) and continue with the attention otherwise. I was selling it after few minutes. At almost 11.4 my attention was back to the market, and to my surprise everything was reversed. 5 lakhs buyers turned to sellers and there were no buyers. Still i managed to sell some half of my units successfully at 594. Later I realized I should have sold it all, since this could have gone to any direction. I tried creating another sell order, It was not reflected on TMS and my balance was set to 0.
This is something i have faced many times. Even if my order was placed there were very minimal chances that it would have been executed due to maximum number of sell orders before mine.
That night i made a tool, Automated tool that would place my order without me typing or clicking at very small fraction of time. It would place my order in just 1 or less than 1 seconds after market opened. Since there could be a competition selling, I needed to create my sell order before majority does.
Following the next day, my attention fully on TMS starting from 10.45 AM, All set and ready. My tool created sell order at around 1-2 seconds. Since there were no changes in price at pre open. My order placed at 594.
TMS is one fucked up piece of shit, developed by some amateur developers. They seriously need to brush up their skills set. Lousy government should stop their crazy political games on systems like this.
Now what happened was, My order was not shown in my order list. TMS balance for my scrip was 0. I could neither place a different order, nor update/delete the order i set at first. This is one hell of a deadlock situation.
TMS stopped working after that. TMS was almost down every time i refreshed it. Who makes such a piece of shit? Is this even a software?
Trading with NIFRA was suspended for a while. Resumed after some time. People were able to sell their shares but i still had the same issue. I could only see what was happening. Price went up, I could have sold at that swing. But no, The stupid TMS.
At the end of the day, I couldn’t sell my shares. While people were able to make trades.
This is purely strategic thing done intended for benefits of people in power. Freezing people from selling who are willing to sell at first and resuming the trade and then selling their shares.
I even had argument with the broker.
Someone please recommend a better broker if there is any? 😀
I will be selling tomorrow at any price i get. I wont be doing it in fraction of seconds. I’ll wait and make my trade at right time considering the fucked up TMS.
My motive to this blog post:
- Don’t be greedy, Book your profits on time strategically.
- To give you insight of stupid software, i am still in profit but such system can lead you to disaster. So always consider scenarios the shit system could put you in while trading.
- Keep an eye on cryptos, they are the future.
- Look at foreign TMS, Binance for example. Compare the differences.
- Please vote for the right person.