Topic: How do you stomach the dips? - page 8. (Read 2029 times)
Though some people do this, according to them, there are few gains in it and it prevents them from loss. But I seriously don't think it worth it and neither is it a right decision to make. When I started out dealing with cryptocurrency, I previously make the mistake of selling and I must confess, I loss quite a lot. I wish I could turn back then hand of clock, I would have steadfastly hold my coins.
I traded shares for almost 40 years so I am used to peaks and troughs of investments. Try not to be consumed with daily movements. If you want to trade then try selling on the upward and buy back on the downward but if you sell it may not go below that level for buying back.
That’s where most people go wrong & it’s why you see accounts around here trolling, posting FUD. Lots of butthurt people who sold & didn’t manage to get back in before a violent upwards swing.
Don’t be that guy.
Very easy, I have very stable character and if something bad happens, I always find a solution.
I traded shares for almost 40 years so I am used to peaks and troughs of investments. Try not to be consumed with daily movements. If you want to trade then try selling on the upward and buy back on the downward but if you sell it may not go below that level for buying back.
Unlike the rest of the guys in the thread I am currently down on my overall investment and I'd be lying if I said it was easy to deal with the dips but it's made all that much easier by being sensible in the first place. While it would hurt if I lost what I have invested, I did not invest more than I was willing to lose. One thing I like to do is go and read about bitcoin and cryptocurrency, use this time to become better educated and understand the benefits of what you're invested in, that can help you to have much more confidence in it
How do you deal with 20% plus drops. Do you try to sell at the top and buy back in? are you a hold on for dear lifer?
Hodl & try not to worry about it, you’re only losing money if you’re selling at a loss. Besides i’m massively up on what I’ve invested.
After my 2 years in the cryptocurrency space, after all the panics at the beginning(first few months) of my investment journey, you simply kinda just get used to it. A huge factor is also that even though I invested a significant amount, if ever my crypto investments go to zero(even if it's kinda almost impossible), I would still have a place to live in and have enough money for food and to start over.
A bull market right now would be really nice, though..
A bull market right now would be really nice, though..
Generally I hold because it's so difficult to see when the dips are going to come and once you've missed them it's risky to sell in the hope they'll continue to dip.
As for how to stomach it - it gets easier every time, I find solace in a few bottles of beer and some good music. Everyone probably has their own way, I watch the price a lot less when things are on a downturn than an upturn so that I can have some mental peace for a while.
Hopefully one day (if not now) you'll be in a position where even after a large 20% or more dip you'll still be in a profit and that's always a nice thing to fall back on.
As for how to stomach it - it gets easier every time, I find solace in a few bottles of beer and some good music. Everyone probably has their own way, I watch the price a lot less when things are on a downturn than an upturn so that I can have some mental peace for a while.
Hopefully one day (if not now) you'll be in a position where even after a large 20% or more dip you'll still be in a profit and that's always a nice thing to fall back on.
How do you deal with 20% plus drops. Do you try to sell at the top and buy back in? are you a hold on for dear lifer?
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