Topic: Dangers of a HODL’er: - page 9. (Read 1842 times)

Can I add one more thing, it is the danger of choosing a wrong storage of funds or coins. Most holders are putting their investment in a closed source wallet or exchange. They buy great volume of coin not knowing that they don't have full control of their funds. Holding should be in an open source wallet (like Holder wallet) so you could see any potential vulnerabilities and get it easily fixed. I always discouraged people to store on exchanges because the fund can be stole anytime tge third party wanted.

Yes become holder is dangerous if we don't use risk management,  although we want to hold that coin for a few years is better use risk management,  like use stop loss.  Because all crypto was dumped 75% to 95% from the top price. By use stop loss we can reduce the risk of holding. By use stop loss we can make better profit by buy in the bottomed and just wait for next bull market.

Well, I agree with your points, nevertheless there are several details that need to be addressed...
If someone needs to copy another person strategy for holding, it won't be capable of developing their own strategy for trading...
holding and trading are 2 different things by definition, nevertheless there is a grey area where both cross... for example, holding ETH would be a good strategy at the end of 2016, where you would have bought at 10$ or something like that, but in 2017, as part of a good holding strategy, you should have sold a good part of it above 1000USD and conserve the remainings (that would be very profitable even today)... crypto market is always on the rise for long term views
Of course that people that have arrived at the end of last year, and bought at the high point are all feeling bad about it and are now against holding... but we need to see things on relativistic aspects...
Same as trading, day trading and not holding can make you loose a lot of opportunities... as well as holding without trading, that can make you miss your chance to sell at a good profit

Of all the replies above, this is the one that so many traders ignore. Luck!

So many people tell you about strategies that work, how they made 90% or 99% successful trades last year, how every price change was something they called all the time ago. But they weirdly just don't stop for a moment to think that maybe they just got lucky.

Not saying it's all pure luck, but people should recognize that sometimes, things go your way but not for the reasons you think. And it's 50/50 some days whether price goes up or down.

I dont know what happen on cryptocurrency
Seeing the current price is astounding for me in 2018 is a year full of surprises for cryptocurrency holders

That is the reason to have short and long term strategy where in dips you continue buying and sell on high . When people buy on high or in rising market they should have short term goals and sell it. Also it is this time where market has not risen else it hasn’t always recovered well and people holding have made money .

Traders and holders have their own role for the bitcoin market, there are tens of millions of users in the bitcoin, whether it's a holder or trader but both are equally helpful. you don't need to worry if there are too many holders, when prices are without movement, the holder makes bitcoin stay alive, there will always be investors or trader, and price movements will definitely happen always, dont worry.

Sometimes it is holders who are saving bitcoin from destruction and sometimes investors are the pillars who work day and night to engage so big audience by manipulating the prices to keep market alive. Just think how it would be when market is down, and no movement is being observed by anyone. It seizes to death. So awakening market is compulsory.

This could be the reason why some of the newbies are here. The dream of becoming rich quickly which they thought might happen in this world of crypto. There are people who are quite lucky enough to have hit the jackpot and become millionaire here quick but the percentage is very slim. We have to work hard to achieve those dreams and engaging in crypto holding is risky though but with the proper DYOR, maybe it will happen.

This is a problem I think a lot of bitcoin/altcoin investors (at least the ones around here) run into, because for whatever reason they think crypto is a get-rich-quick scheme, and it's not--especially if HODLing is your strategy.  Thus they end up buying crypto with money that should have been put away for rent/utilities/daily living expenses/whatever.  That's when what OP describes as "lethargy" sets in, which I interpret to mean impatience that the price of the crypto you bought isn't increasing in value fast enough.

Anybody who's new to trading would do well to follow OP's points, because they're valid--and it doesn't matter if you plan on holding for the long term or are just short term trading.  Be careful about acting on what you read on websites (including this one) and those idiotic trollboxes they have on some exchanges. 

I don't quite understand the "chasing someone else's dream" thing.  I think everyone's dream here is to make a profit.  The problem is that there are too many very slick-looking scams out there that really look like they have great ideas and an organized business structure....and then the forum scam-busters expose them as frauds.  I wouldn't hold any ICO token for the long-term.  Hell, I wouldn't hold any of those shit tokens for a nanosecond.

This is a good tips and help to anyone here also. Most of the traders hold their coins without any reason actually. But they never know if it is potential or whatever, and some are just relying on their feelings in luck which is not right in my opinion. So, when declining price value happen many became panic on it due to lack of knowledge about it.

If there is no hodler of coin, probably prices moves down until it becomes 0 value. I believe that there are dangers in holding coin per individual person but it helps a lot for the community to be strong even there are storm. If we always hold coin and does not sell it at low price then we will make dollars of money.

It’s not everyone that knows how to analysis, but it’s important that anyone that is buying and selling Bitcoin learn it. Why not? It’s your business. And secondly, I can’t invest money that is not my own and try to HODL with it, neither will invest a money I can’t afford to lose. Next is that I can’t buy Bitcoin or any coin and be less concerned about it if I had no intention of holding it for long cause you may never know what follows next.

Hold has its risks, for example:

Ethereum reached more than $1200, and today is $200

People who bought have a lot of losses

NEO reached more than $150, and today is $15

many people are at a loss

Stratis reached more than $18, and today is $1, yes this is a Big loss, I can not even imagine how the people who bought it when the price was $18 are feeling

sometimes point 3 trusts someone else's dream can make danger for the holder, because we do not know someone's financial condition so it is better we can overcome that point to make the holder become a profit and not endanger

I held the coin two years ago and after a few days yesterday I opened the price is very disappointing and I encountered a dead end will I sell or hold even though I thought it was an investment in that coin hummpzzz

It depends on you as an individual or a holder, losing money is just dependent on what you are looking at but it does not necessarily mean there is danger in doing so.

We have had a lot of investors holding for a very long time now since the beginning when this space came into being, and do we want to call the fact that they are still holding dangerous. Holding for the long term is also a strategy as long as you know you have a target in terms of the development of the space overall, which is what matters anyway and unless you want to be taking advantage of the market trend as a knowledgeable trader, I do not see how holding is a big issue.

Getting emotional with the market is the summary of it all, it makes to look beyond real market controls and analysis and concentrate on hope and believe. This was the greatest undoing of majority of crypto holders this year, not knowing when to take the exit either in profit or loss was the reason why so many are still bagholding to a huge loss

Thank you for your advice. I also hold several coins, for long-term investments. to summarize all of that, I only made one reason. that is, keep believing in yourself. and get out of the market when you hold it. then come back when you feel it's time.

There are some different way to make money in crypto like day trading, swing trading and holding and all of these way need skill to make profit. We should be know when should be start to do it, for how long and what percentace of take profit and stop loss. Because all of that way has risk, so we should be have risk management. Never thinking crypto will bullish forever because the bullish and bearish anytimes will be changed.