Topic: Don't buy what you can't hodl. (Read 1722 times)
but this method does not apply to some new coins that are listed because there are some that after the form is complete never return to the original price again so the choice to cutlose is also important in this situation, unless you buy coins like btc, eth because in the long run the price will be back up even though it has fallen more than 80% since the last bulls and is rising at the end of 2020.
Speaking of HODL is about trust in the background, it's the same as don't buy if you doubt its potential. Aiming at HODL does not mean forgetting risk management without managing the risk of loss that can be borne. Because not all coins have the potential in the long term and some even continue to decline in value slowly. We need to get out of that circle before the value becomes truly zero.
It is why you need to always search for the right coin to invest in. If you buy bitcoin, even if the price is down, it will go back to the high price, so your investment will not just a waste of time. But if you invest in altcoin, you need to think about when you should the coin because many of us still hold it and do not sell when the price increase. What we need to do with the altcoin is when the price can increase more than 2x from the price you buy, you should sell it right away before the price is down.
It is true that choosing the right coins to invest in our assets is the most important thing. Because as he said, a good coin or currency, even if the price decreases, the price will stabilize again and will increase again after the decrease. Unlike the new currency, maybe at first the coin price will be quite high and increase due to the large market demand, but gradually most of the things like that will be abandoned after it feels that the coin is no longer sustainable. If we choose a new currency whose price is increasing, you can hold it, but you also have to pay attention to market supply and demand, if every day it decreases, I think you should sell it immediately. Because some people choose to hold it because they want to get a profit, it is precisely this greediness that is the main trigger for experiencing losses. If you feel that you have benefited from the coin, there are times when you sell it and leave a little to monitor the price first, don't keep holding on to the assets and profits you get.
They problems is they use the money for their daily needs or not the extra money so the reasons why they did not hold the coins.
The people who are using the extra money and have enough knowledge about investing and trading who is usually earn money because they are going to hold the coin they bough what ever happens like dumping who is mostly investors panic so choose longterm holding and that is guaranteed for you that you earn money..
Yes and another reason why people cannot hold is because they are following the prices of bitcoins too closely which enables panic when the market is falling and thoughts of selling when the market is pumping both of which are against holding. I would say people who earn enough daily and are busy enough to avoid checking prices daily have the best chance to hold bitcoin for the longest periods.The people who are using the extra money and have enough knowledge about investing and trading who is usually earn money because they are going to hold the coin they bough what ever happens like dumping who is mostly investors panic so choose longterm holding and that is guaranteed for you that you earn money..
It might be profitable or not that I can't say but for sure people who have something else in life which keeps them busy like jobs, gambling or anything have the best chance to hold bitcoins. Also avoid all kinds of news when market is falling, just don't read them because they all talk negative when its dropping.
Be busy and keep yourself away from all that's happening into bitcoin is the only way to avoid panic selling. These news and articles can wash your brain in no time so just avoid them all.
Warren Buffett is an investor and he thinks he needs to find stocks that are undervalued, buy them, hold them until they are overvalued or even forever, and that's it, he rarely ever sells his positions. This is very very different from trading, if you buy and hold that means you are not trading at all, hence I think it is not really that shocking that people may want to get out in couple hours and that is acceptable.
The same Warren Buffet if I remember correctly made some vague statements about Bitcoins when asked and later Tron creator bid the highest to do dinner with Waffet so it also shows that what Buffet says we shouldn't just blindly follow. He is rich and might hold some assets and even lose them all he won't care but we bitcoiners don't have big capital and hence its natural to panic under tough times when bitcoin is crashing.But I agree with the headline "Don't buy what you can't hold" or trust I would add. If you are buying something trust it and have faith in your decision and this applies not just in crypto but in general as well. If you cannot back your own financial decisions then there is no way you can be successful in long term.
So easy to say but very hard to follow Especially for long term investors. It's never a pleasant thing to invest in a coin and then watch your investment go low. I have come to realize that in any situation of the market, patience is much needed and also your choice of coins for investment and time of investment also matters. A simple way out is to plan your funds, dont fomo, buy at more dip, take profit at intervals.
Coin selection is a major factor for long-term investment or trading. for me if we are not smart to choose, we will only be trapped in the type of coin that eventually becomes trash. This is not very good and it will only make our profits decrease, so don't waste your assets on investing in coins that have no potentialusually fundamentally an altcoin can be bullish, but fundamentals alone are not enough for altcoins,
TA and community strength must also be in line with their fundamental, in this altcoin season I think altcoin projects that have a strong community will start pumping, like Doge, next me think will be on XRP and Tron.
The author said golden words. It really is. You need to buy on the fall. Buy only for a long term. And don't succumb to FOMO. But for this you need to deeply believe in the project. And in order to deeply believe in a project, you need to research it well. You need to study all the technical documents. Spend a lot of time in chats. You need to communicate with the fans of this crypto project. If this is not done, then there will be no faith in the project. And FOMO will wake up with every fall.
Prepare a reserve fund to anticipate these losses, so that later there will be funds to get a return on investment. The reserve fund is very necessary to meet unexpected needs or risks. It takes patience and endurance, because with what we know a currency will rise later, especially the currency that we predict will profit and it is possible to decline according to the conditions.
Or just invest what you can afford to lose and hodl? I mean,,, reserve funds and anticipation are great but we all know we are at best amateur traders and investors. If you believe in the network, then you know long term is the only thing that matters.
Altcoin investments? Who has time for that?
So easy to say but very hard to follow Especially for long term investors. It's never a pleasant thing to invest in a coin and then watch your investment go low. I have come to realize that in any situation of the market, patience is much needed and also your choice of coins for investment and time of investment also matters. A simple way out is to plan your funds, dont fomo, buy at more dip, take profit at intervals.
The rise and fall of a coin or currency can happen at any time, which is true when you are investing and seeing the price of a currency decreasing is not fun. But all of that can be predicted and anticipated. Although, predictions are sometimes not quite right, at least we have anticipated the coming ups and downs of the currency. With frequent reading of market opportunities, and seeing the impacts and risks that will be faced in the future, we can anticipate the coming out of a loss and immediately look for solutions to solve it.
Prepare a reserve fund to anticipate these losses, so that later there will be funds to get a return on investment. The reserve fund is very necessary to meet unexpected needs or risks. It takes patience and endurance, because with what we know a currency will rise later, especially the currency that we predict will profit and it is possible to decline according to the conditions.
OK, tell me (by example:which coin, when, where) is making people millionaires in 10 minutes?
And now tell me that you think how Bitcoin did everything to be where it is in 10 Minutes? What are you talking about?
Take a look at really reputable coins, take a look at their prices 5 years ago and look at them now and tell me how holding is not paying off!? Are you able to do that? And when you are so smart tell me what you expect from reputable coins in the next 5 to 10 years?
Takes a year to grow a coin, dunno why would someone claim something like that.
That's actually one of the best things that I have learned in crypto world so far. I was too scared to hodl before especially when I see the prices dropping. I've learned that the best capital that we could have in investing is patience. If we'll know how to be patient then we'll be able to gain a good profit in time. Sometimes our fear only leads us to regret so we should be willing to take the risks.
Patience and not panic is the key that you also say in wading crypto, because we see the price that goes up and down today is fast happening. so if you can't wait to do and analyze properly and with full calculations you will definitely experience things that can certainly be detrimental when you anticipate them.I agree with what you said that fear of taking a stand will lead to regret in the future, crypto is full of risks and we have to instill it and have to be brave enough to take risks even though losses with the aim can later turn into profits.
If anyone unaware about the correct trading stategy, then holding crypto could possible to be another chance for them to make money from crypto market without having much trouble. don't think anyone would mind to check their currency portfolio list regularly if found those hodl currencies are keep raising! But If those currencies getting drop continueously, then wise to sold those all to avoid extra loss.but that won't be a proper way of holding.rather try to choice some potential currencies so that could hold it till long preoid even some short drop occurred
I don't agree with this. Because it means a limitation of trading. But if you want to vary on your investment then you have to think versatile. If you can't hold then you can buy and sell it immediately that will be low risk and you can get some profit from that. Sometimes you can take a short profit from this type of trading.
That's actually one of the best things that I have learned in crypto world so far. I was too scared to hodl before especially when I see the prices dropping. I've learned that the best capital that we could have in investing is patience. If we'll know how to be patient then we'll be able to gain a good profit in time. Sometimes our fear only leads us to regret so we should be willing to take the risks.
Yeah if you need good profits then patience must need because with cryptocurrency anything can happen in any time.when crypto market going down or invested coin go down, at this time many traders are feel panic and sell their coin low rate.so, if you try to became good traders then came in crypto market with your full patience.
So easy to say but very hard to follow Especially for long term investors. It's never a pleasant thing to invest in a coin and then watch your investment go low. I have come to realize that in any situation of the market, patience is much needed and also your choice of coins for investment and time of investment also matters. A simple way out is to plan your funds, dont fomo, buy at more dip, take profit at intervals.
theoretically what you say is a very wise thing to do but in practice a lot of mistakes are made because of impatience and when it makes a mistake what you do can be wrong. in the long term investment the possibilities in travel can always change quickly, we must be patient with this.for long-term investment it is indeed more difficult, in addition to requiring strong analysis it is also necessary to select the right coin. because the asset stakes are very large in the long term. in addition, investors must be strong in carrying out long-term holding. it is like being patient when there is a storm and having to be strong under any circumstances until the point in time is found.
The main risk of long-term investment is capital that is separate from daily needs because it can affect investment not running on time because there are other needs that result in us having to release / sell not yet on time. because it is important, the capital must be large.I believe it could be "made" simpler for long term investors, it all depends on what are your goals are but if you are smart enough you could find a way to make it simpler to hold. For example if you invested into bitcoin, and you keep investing into bitcoin once per month when you get your salary, that means you have a good plan laid out already, that will make things easier for you in the entry side and you should do that for 10-20 years without any stop, just put some money into bitcoin every month for 20 years.
Second part is the hardest part, its not to sell when you see it go super high or crash very low, for that to happen I suggest not checking the price at all, obviously when you are buying once a month you will see the price, but ignore that and for the rest of the month, and your life, do not check the prices or care, just ignore it completely, focus on the fact that you will sell 20 years later and not a single second early. That will really help you.
what you mentioned is very good if our funds are insufficient and we can set aside the work a little at a time, but I am not sure it should be up to 10-20 years because the halving occurs every 4 years and the price is definitely ATH.Second part is the hardest part, its not to sell when you see it go super high or crash very low, for that to happen I suggest not checking the price at all, obviously when you are buying once a month you will see the price, but ignore that and for the rest of the month, and your life, do not check the prices or care, just ignore it completely, focus on the fact that you will sell 20 years later and not a single second early. That will really help you.
Patience and not panic quickly are the main capital for long-term investment, especially last year bitcoin made a short-term investment for almost 4 months and it will clearly change the impatient and panicked mindset. to act out of order anymore.
So easy to say but very hard to follow Especially for long term investors. It's never a pleasant thing to invest in a coin and then watch your investment go low. I have come to realize that in any situation of the market, patience is much needed and also your choice of coins for investment and time of investment also matters. A simple way out is to plan your funds, dont fomo, buy at more dip, take profit at intervals.
for long-term investment it is indeed more difficult, in addition to requiring strong analysis it is also necessary to select the right coin. because the asset stakes are very large in the long term. in addition, investors must be strong in carrying out long-term holding. it is like being patient when there is a storm and having to be strong under any circumstances until the point in time is found.Second part is the hardest part, its not to sell when you see it go super high or crash very low, for that to happen I suggest not checking the price at all, obviously when you are buying once a month you will see the price, but ignore that and for the rest of the month, and your life, do not check the prices or care, just ignore it completely, focus on the fact that you will sell 20 years later and not a single second early. That will really help you.
Two friends of mine who jointly invested in a coin that recently had its market value suddenly rise where very excited by their sudden profit. One brought up the notion that they should sale and quickly get their gain, the other, although not so sure said it was better to hold it that it had a good market projection rate. The other not too sure about his opinion followed the other person to sale at the profit they had made. Some fews days later the coin gained more and the two of them that sold their coins already making a little profit where not happy because they could have made more. The entire point of this example is to say that patience is key when trading and investing, don't buy what you cannot hold for long.
"Don't buy what you can't hodl" is the headline! Warren Buffett said "If you don't feel comfortable owning a stock for 10 years, you shouldn't own it for 10 minutes."
And I agree with that, it's why when you trade with bitcoin or some coin you believe in the long run, you don't cut losses, you just wait for the price to rise again and set up new ATH!
And like I always say, you can't trade if you don't have some holdings! When you choose your pair you need to have a nice bankroll of each of them if you wish to be successful in the long run, with all the changes around!
That is a marvelous statement, however you have to realize that trading and what warren buffet does is not the same thing. Trading is buying and selling as quickly as possible to make as much profit as you can in a quick period. If I can buy now and make 1-5% profit in one hour and get out, I will definitely do that as a trader, not that I am a trader, I am an investor and that is what I do, but I just think that traders think this way.And I agree with that, it's why when you trade with bitcoin or some coin you believe in the long run, you don't cut losses, you just wait for the price to rise again and set up new ATH!
And like I always say, you can't trade if you don't have some holdings! When you choose your pair you need to have a nice bankroll of each of them if you wish to be successful in the long run, with all the changes around!
Warren Buffett is an investor and he thinks he needs to find stocks that are undervalued, buy them, hold them until they are overvalued or even forever, and that's it, he rarely ever sells his positions. This is very very different from trading, if you buy and hold that means you are not trading at all, hence I think it is not really that shocking that people may want to get out in couple hours and that is acceptable.
They problems is they use the money for their daily needs or not the extra money so the reasons why they did not hold the coins.
The people who are using the extra money and have enough knowledge about investing and trading who is usually earn money because they are going to hold the coin they bough what ever happens like dumping who is mostly investors panic so choose longterm holding and that is guaranteed for you that you earn money..
The people who are using the extra money and have enough knowledge about investing and trading who is usually earn money because they are going to hold the coin they bough what ever happens like dumping who is mostly investors panic so choose longterm holding and that is guaranteed for you that you earn money..
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