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Topic: A strategy for "surviving" in times of crisis (Read 300 times)

member
Activity: 294
Merit: 10
W12 – Blockchain protocol
February 20, 2018, 09:45:40 AM
#50
Do I really need to travel? That would chip away money from my rainy day fund. I would take a break to take away the stress and anxiety maybe for a day or two. Play some games or do outdoor activities. Then work hard again. It is a crisis,you need to make ways to survive it.

In order to survive during the time of crisis you should be cool. IF all your coins value goes down, then relax,then hold your coins, because in some other time, this will surely goes up again. Then while holding, just join in any bounty campaign so could still earn tokens while waiting. At least while waiting and holding you are still busy and enjoying your bounty campaign. 
full member
Activity: 322
Merit: 141



Your strategy looks good but I think this will work only on the perfect world. No offense but this plan will only work if you are really settled financially. There are people who's struggling to their daily financial needs that even on 10% gain will withdraw there profit from their investment or trade or worst withdraw the money at loss. But still you have good plan most especially the vacation one that's very good suggestion I really like it.

Take a look at the Deppil's post and my answer to iv4n on page 2.

Do I really need to travel? That would chip away money from my rainy day fund. I would take a break to take away the stress and anxiety maybe for a day or two. Play some games or do outdoor activities. Then work hard again. It is a crisis,you need to make ways to survive it.

You took it literally, go read a book or, as you said, play some games, whatever. Enjoy the life Smiley
This post is about setting a right mindset, not about the literal point-to-point strategy.


For me during the bloody weeks, I just go around malling and watching movie. I think I did not see my portfolio for 2 weeks, I just enjoy moment outside and breath some fresh air. Now, seems market  is slowly recovering, I go back to check and trading again. Sometimes when market is gloomy, we need to have life outside the crypto world and enjoy. Bloody market makes us sad, that is why we need to change environment from time to time.

You got it right pal.

You did not mention how long to go on vacation. because I've done that too when bitcoin prices have gone down, but after I get home, bitcoin price has not come back as before since I bought, this is already more than 1 month after bitcoin price down? should I take months off again until bitcoin prices to go up lol? I know this way to avoid panic but sometimes this does not work, its just add budget and make panic again when the price never goes up after going on holiday


You too? Shishhhhh. Don't take it literally, just grab a mindset and enjoy life. During crisis go watch a TV or something. If you really like and can afford it you can travel, yes.



Exercise regularly. Walk, run, bicycle thirty minutes every other day. The endorphins released will help you mentally and emotionally. Your sleep will improve. Your body will be stronger and you will feel more in control. 

Kudos!


actually, the function of the above points is so you don't get panic when a coin prices go down. usually, the price will go up after a few days, that's the function you go on vacation. after going home then you see the price is back pump, but sometimes when the pump does not meet expectations. sometimes we have to wait a long time for the price to go up. so the point is not the travel that makes you not panic. you have to change your mindset that falling prices are a natural thing and rising prices are a sure thing.

Deppil, you are my hero.
hero member
Activity: 1008
Merit: 501
If you are a crypto newbie start from point 1. If you already invested money into cryptos then start from point 2.

1. Invest only the amount you can afford to lose without even sweating about it.
2. Wait for the rise of the value of your investment around 2x and then pull out the amount of your initial investment. This way it's like you never invested and you still have a profit, and a portfolio.
3. When you receive some extra profit put that aside too - open yourself a little "crisis fund".
4. When the crisis happens, look for the prices of travel to the tropical country you always wanted to visit.
5. Activate your "crisis fund".
6. Take your family on a vacation and enjoy the sunshine while everybody else is panicking.
7. Return from the vacation and irregularly check your portfolio to enjoy the rise in value.
8. Repeat steps 3-8.
actually, the function of the above points is so you don't get panic when a coin prices go down. usually, the price will go up after a few days, that's the function you go on vacation. after going home then you see the price is back pump, but sometimes when the pump does not meet expectations. sometimes we have to wait a long time for the price to go up. so the point is not the travel that makes you not panic. you have to change your mindset that falling prices are a natural thing and rising prices are a sure thing.
sr. member
Activity: 896
Merit: 253
If you are a crypto newbie start from point 1. If you already invested money into cryptos then start from point 2.

1. Invest only the amount you can afford to lose without even sweating about it.
2. Wait for the rise of the value of your investment around 2x and then pull out the amount of your initial investment. This way it's like you never invested and you still have a profit, and a portfolio.
3. When you receive some extra profit put that aside too - open yourself a little "crisis fund".
4. When the crisis happens, look for the prices of travel to the tropical country you always wanted to visit.
5. Activate your "crisis fund".
6. Take your family on a vacation and enjoy the sunshine while everybody else is panicking.
7. Return from the vacation and irregularly check your portfolio to enjoy the rise in value.
8. Repeat steps 3-8.

add this bro

Exercise regularly. Walk, run, bicycle thirty minutes every other day. The endorphins released will help you mentally and emotionally. Your sleep will improve. Your body will be stronger and you will feel more in control. 
newbie
Activity: 74
Merit: 0
I like the strategies, except for the starting to waste money going on vacation and things like that. I'm frugal. Would rather look for more opportunities.
hero member
Activity: 1148
Merit: 504
If you are a crypto newbie start from point 1. If you already invested money into cryptos then start from point 2.

1. Invest only the amount you can afford to lose without even sweating about it.
2. Wait for the rise of the value of your investment around 2x and then pull out the amount of your initial investment. This way it's like you never invested and you still have a profit, and a portfolio.
3. When you receive some extra profit put that aside too - open yourself a little "crisis fund".
4. When the crisis happens, look for the prices of travel to the tropical country you always wanted to visit.
5. Activate your "crisis fund".
6. Take your family on a vacation and enjoy the sunshine while everybody else is panicking.
7. Return from the vacation and irregularly check your portfolio to enjoy the rise in value.
8. Repeat steps 3-8.
You did not mention how long to go on vacation. because I've done that too when bitcoin prices have gone down, but after I get home, bitcoin price has not come back as before since I bought, this is already more than 1 month after bitcoin price down? should I take months off again until bitcoin prices to go up lol? I know this way to avoid panic but sometimes this does not work, its just add budget and make panic again when the price never goes up after going on holiday
sr. member
Activity: 1274
Merit: 252
It is a good idea but I invest to be able to secure my money and if can also get profits from my investment, so I do not agree with point 1 Invest only the amount you can afford to lose, I think words are similar to what gamblers say Cheesy and vacationing is one way that we can calm the mind so that mistakes like panic sell does not happen.
newbie
Activity: 28
Merit: 0
If you are a crypto newbie start from point 1. If you already invested money into cryptos then start from point 2.

1. Invest only the amount you can afford to lose without even sweating about it.
2. Wait for the rise of the value of your investment around 2x and then pull out the amount of your initial investment. This way it's like you never invested and you still have a profit, and a portfolio.
3. When you receive some extra profit put that aside too - open yourself a little "crisis fund".
4. When the crisis happens, look for the prices of travel to the tropical country you always wanted to visit.
5. Activate your "crisis fund".
6. Take your family on a vacation and enjoy the sunshine while everybody else is panicking.
7. Return from the vacation and irregularly check your portfolio to enjoy the rise in value.
8. Repeat steps 3-8.

Your strategy looks good but I think this will work only on the perfect world. No offense but this plan will only work if you are really settled financially. There are people who's struggling to their daily financial needs that even on 10% gain will withdraw there profit from their investment or trade or worst withdraw the money at loss. But still you have good plan most especially the vacation one that's very good suggestion I really like it.
hero member
Activity: 850
Merit: 504
Do I really need to travel? That would chip away money from my rainy day fund. I would take a break to take away the stress and anxiety maybe for a day or two. Play some games or do outdoor activities. Then work hard again. It is a crisis,you need to make ways to survive it.

For me during the bloody weeks, I just go around malling and watching movie. I think I did not see my portfolio for 2 weeks, I just enjoy moment outside and breath some fresh air. Now, seems market  is slowly recovering, I go back to check and trading again. Sometimes when market is gloomy, we need to have life outside the crypto world and enjoy. Bloody market makes us sad, that is why we need to change environment from time to time.
hero member
Activity: 1148
Merit: 504
Do I really need to travel? That would chip away money from my rainy day fund. I would take a break to take away the stress and anxiety maybe for a day or two. Play some games or do outdoor activities. Then work hard again. It is a crisis,you need to make ways to survive it.
full member
Activity: 1036
Merit: 109
This is right, the best way to avoid losses is to diversify your investments, invest only the amount of money you can afford to lose, never invest during the peak market price, always do your research before investing, don't get too emotional during the market crash and panic sell, and to hold your investments instead of incurring losses.
newbie
Activity: 56
Merit: 0
sell the top and buy the bottom . crypto 101 .
hero member
Activity: 854
Merit: 504
7. Return from the vacation and irregularly check your portfolio to enjoy the rise in value.

Lol How long it takes for market to recover and rise? do you think 3-4 weeks? It might take years, so you probably need all of your funds for this long travel  Smiley
Lol that's true but at least you can avoid the early panic times , for me it's necessary to have an emergency funds and activate it while the market crash, take that rare opportunity to buy in very low rates so your past losses could get covered and even you get more profit, just improve your analysis skill.

Enjoying our portfolios is possible when pump times only. I can give an example from november and december 2017 maybe. They were such greate times for us to enjoy our portfolios. But checking it is a addiction for me.
Yeah, we have passed a precious time from Nov to Dec. I understand the amount of people coming into the market but most of them come on without good practice entire the markets and eventually fall in crisis.
sr. member
Activity: 308
Merit: 250
7. Return from the vacation and irregularly check your portfolio to enjoy the rise in value.

Lol How long it takes for market to recover and rise? do you think 3-4 weeks? It might take years, so you probably need all of your funds for this long travel  Smiley
Lol that's true but at least you can avoid the early panic times , for me it's necessary to have an emergency funds and activate it while the market crash, take that rare opportunity to buy in very low rates so your past losses could get covered and even you get more profit, just improve your analysis skill.

Enjoying our portfolios is possible when pump times only. I can give an example from november and december 2017 maybe. They were such greate times for us to enjoy our portfolios. But checking it is a addiction for me.
jr. member
Activity: 163
Merit: 1
ICOForums.net - A Cryptocurrency & ICO Forum
If you are a crypto newbie start from point 1. If you already invested money into cryptos then start from point 2.

1. Invest only the amount you can afford to lose without even sweating about it.
2. Wait for the rise of the value of your investment around 2x and then pull out the amount of your initial investment. This way it's like you never invested and you still have a profit, and a portfolio.
3. When you receive some extra profit put that aside too - open yourself a little "crisis fund".
4. When the crisis happens, look for the prices of travel to the tropical country you always wanted to visit.
5. Activate your "crisis fund".
6. Take your family on a vacation and enjoy the sunshine while everybody else is panicking.
7. Return from the vacation and irregularly check your portfolio to enjoy the rise in value.
8. Repeat steps 3-8.
The best way too deal with this kind of stress crisis is too maintain your composure and calmness.The reaction you give to this kind of crash can determine the effects of crash.The drastic you react you loose tend to lose more while if you react normally you can even earn from this.What you have mention in your post is all technical thins which are also ring but for me these are the two things which really change the whole concept.
full member
Activity: 322
Merit: 141
Number 4 to 8 are not good idea for because in time of crisis people need to minimized the expenses.

That is absolutely true. However, I meant a crisis in crypto world, not overall crisis. And, just for the sake of possible future economic discussions please keep in mind that while for the individual person it is a good strategy to save money during the crisis, for a society it is the worst strategy as only a good cash flow can bring back the investments and push the economics towards the upward trend. That is one of the basic economic phenomena that for some reason most of those in position to do something about it don't seem to comprehend.

Somehow it is like gambling addicted, I do not called it is strategy, this is just some normal mindset that you need to do in emergency

I like how you called it "a mindset", and not "a strategy" as that was precisely my point. It is funny how most of the people took it literally.

This doesn't have any logic:
1. I invested 100 dollars.
2. OK price is x2 and I pulled out my initial investment of 100 dollars.
3. Extra profit in time when price is rising, but what if price is going down? But let's say price go 3 time higher.
4. Prices for tropical country for whole family is minimum 2000 dollars.
5. To activate my 500 dollars crisis fund, I'm best case that much?!
6. Where we can go with 500 dollars.
7. Come back from holiday and you are in big dept.
8. To repeat what when I returned all the money?

Your strategy will work if you invest thousands of dollars, and who can afford to lose that much? Your strategy doesn't work much if you invested in wrong time! Read about people who bought at 19000 dollars, where are they now, and where is their profit?
Your strategy will work just if circumstances are perfect.
Don't fool yourself that this will work, I don't know what other people comment.

1. Your investment is rather small, but it is a good start, or better said a perfect start if that is all you can afford to lose without caring deeply about it.
2. I would have waited a little bit more actually, but OK, a safe approach is a good approach.
3. By my experience with cryptos, if you have a portfolio it will always rise in a long term. If you invest only in one coin you are playing with your luck. If the price goes down, you have to be patient. So far the long-term trend was always upwards. Patience is a key here as you could have invested just before the crash which would comprehend longer waiting.....
4.  Yeah, that was basically a joke, what is important is a mindset. Take 10 USD from the crisis funds and by an ice-cream, I don't know, whatever you like.
5.-8. Kind of self-explanatory after you understand 1-4.


the strategy you mentioned is true but sometimes I still get scared when I'm stuck at high prices again, so to overcome it I should just wait for normal kembabli prices by closing the existing market.

We all get scared, that is normal. The key lies in minimizing the anxiety.

This doesn't look like a strategy to me at all. It is more like a future story to me Grin Grin .
My best strategy during the time of crisis would be something like
1) Find out why the prices are dropping.
2) Analyse the charts and predict if the price will drop further.
3) Sell your coins and buy back at a lower price to gain an increase in capital.
4) Enjoy more profit when the price increases
For anybody who finds it tough to do the above should just hold on to what they have. Never panic. Chill out and stay away until the crash is over.

Absolutely, that is the purpose of a technical analysis. You should always strive to do one. Your strategy can easily be incorporated into mine. Nothing clashing here.


If you are a crypto newbie start from point 1. If you already invested money into cryptos then start from point 2.

1. Invest only the amount you can afford to lose without even sweating about it.
Very important part. There is nothing worse than having to cash out and market is deep in the red. You will sweat no matter the amount Smiley
2. Wait for the rise of the value of your investment around 2x and then pull out the amount of your initial investment. This way it's like you never invested and you still have a profit, and a portfolio.
I am doing something similar, cashing out in parts as my coin is growing. I have different exit strategies for each coin but usually I cash out first 30% on x3. I would like to point out that you haven't earned anything on coin that has gone up 1000x until you cash out. It can crash the next day. Remember: Lock in your profits.
3. When you receive some extra profit put that aside too - open yourself a little "crisis fund".
I actually have "crisis fund" and "reinvestment fund"
4. When the crisis happens, look for the prices of travel to the tropical country you always wanted to visit.
5. Activate your "crisis fund".
6. Take your family on a vacation and enjoy the sunshine while everybody else is panicking.
7. Return from the vacation and irregularly check your portfolio to enjoy the rise in value.
Maybe most important one. Don't check every few minutes. You will just get stressed.
8. Repeat steps 3-8.
Unfortunately, real life doesn't let me do steps 4-8, but I use the times when market is in red to add some cash from reinvestment fund into projects I believe in. Effectively buying them at 50% or more discount. Of course it is difficult to judge the exact bottom of the crash. I have for instance added to my bitcoin position at 10k because I thought it would not go any lower.

Good advice, i have taken the liberty to add my take on your steps in green color inside the quote.

Bravo Trofo. Many can learn from you, myself included.
legendary
Activity: 1442
Merit: 1008
7. Return from the vacation and irregularly check your portfolio to enjoy the rise in value.

Lol How long it takes for market to recover and rise? do you think 3-4 weeks? It might take years, so you probably need all of your funds for this long travel  Smiley
Lol that's true but at least you can avoid the early panic times , for me it's necessary to have an emergency funds and activate it while the market crash, take that rare opportunity to buy in very low rates so your past losses could get covered and even you get more profit, just improve your analysis skill.
member
Activity: 126
Merit: 10
If you are a crypto newbie start from point 1. If you already invested money into cryptos then start from point 2.

1. Invest only the amount you can afford to lose without even sweating about it.
2. Wait for the rise of the value of your investment around 2x and then pull out the amount of your initial investment. This way it's like you never invested and you still have a profit, and a portfolio.
3. When you receive some extra profit put that aside too - open yourself a little "crisis fund".
4. When the crisis happens, look for the prices of travel to the tropical country you always wanted to visit.
5. Activate your "crisis fund".
6. Take your family on a vacation and enjoy the sunshine while everybody else is panicking.
7. Return from the vacation and irregularly check your portfolio to enjoy the rise in value.
8. Repeat steps 3-8.
The best possible surviving strategy would be to analyse the situation and to react according to it.People tend to panic at the time of crash but if that panic gets evacuated the crash might not occur at all.Because panic selling would be nullified with this and the meaning of crash is prices going down due to excessive selling and decrease in market cap.So people should do some R&D work and then decide whether to sell or to hold.
full member
Activity: 2478
Merit: 215
★Bitvest.io★ Play Plinko or Invest!
If you are a crypto newbie start from point 1. If you already invested money into cryptos then start from point 2.

1. Invest only the amount you can afford to lose without even sweating about it.
[/qoute]
I agree do not force yourself to find bigger funds invest your money do you have.

2. Wait for the rise of the value of your investment around 2x and then pull out the amount of your initial investment. This way it's like you never invested and you still have a profit, and a portfolio.
[/qoute]
Thats idea is common strategy of the tradey in times fall down need to be patience and wait to pump again the price to avoid loses.

3. When you receive some extra profit put that aside too - open yourself a little "crisis fund".
[/qoute]
When I receive extra profits i use in my daily needs to sustain for my family needs until i can recover my investment.

4. When the crisis happens, look for the prices of travel to the tropical country you always wanted to visit.
5. Activate your "crisis fund".
6. Take your family on a vacation and enjoy the sunshine while everybody else is panicking.
7. Return from the vacation and irregularly check your portfolio to enjoy the rise in value.
8. Repeat steps 3-8.
Number 4 to 8 are not good idea for because in time of crisis people need to minimized the expenses.
hero member
Activity: 2996
Merit: 609
If you are a crypto newbie start from point 1. If you already invested money into cryptos then start from point 2.

1. Invest only the amount you can afford to lose without even sweating about it.
2. Wait for the rise of the value of your investment around 2x and then pull out the amount of your initial investment. This way it's like you never invested and you still have a profit, and a portfolio.
3. When you receive some extra profit put that aside too - open yourself a little "crisis fund".
4. When the crisis happens, look for the prices of travel to the tropical country you always wanted to visit.
5. Activate your "crisis fund".
6. Take your family on a vacation and enjoy the sunshine while everybody else is panicking.
7. Return from the vacation and irregularly check your portfolio to enjoy the rise in value.
8. Repeat steps 3-8.
This kinds of mindset is really helpful to avoid wrong actions when crisis happens with your investment, I like the way you bring the ideas that you 'should
just need to be more patience and just cool it up even in the time of some downfall, better to stay with your family and relax for a while go back when you feel that something is already been accomplished.

This only thing that you need to bear in your mind and I believe this is only works for a while and this is only effective if you have small bankroll and then you can really put that aside. But when you put really large amount on it, I do not think that you even have time to take your family or even gather with them. This is just some distraction that you can think of. Somehow it is like gambling addicted, I do not called it is strategy, this is just some normal mindset that you need to do in emergency
You cant even say such thing because there are people who could able to control theirselves and do withstand such pressure even he do have large amount involve on doing trading or investment. Setting it aside is possible but there would be times that we do always think of it on whats the current situation of the market.Chilling out isnt bad but we should know on how to move into these kind of situations.
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