Topic: How to HODL the right way - page 3. (Read 569 times)

FOMO – when it's going up and you've missed the train... but then you buy and it dumps. Happens many times to all of us  If you've missed the train, don't run after it. Wait for the next one (next dip).

FEAR OF LOSING – you're panic selling and then it pumps back up.    Warren Buffet might be a crypto FUD-meister but he's right about getting greedy when others are fearful and getting fearful when others are greedy.

GREED – this is the trickiest of all emotions. Most humans are greedy. It's our nature. And yet most will tell you they're not greedy if you ask them. I am greedy, and so are you. In trading or investing, we realize we've been greedy only after losing money. There is no easy way to learn this lesson but if you follow the two rules above you won't let greed run the show.

Here are two simple rules my trading mentor who's been in the game for 30 years taught me.

1. Put 5-10% of your net worth in crypto. No more as you might lose more than you can afford, no less as you won't see much difference.

----

2. Have a strategy. Every month, on a particular day you have chosen, take 50% of your profits in fiat. No ifs, no buts, no waiting for the market to get better or for the price to rise because you "know it will rise 100%". And when it comes to the other half, invest 50% of it in assets you believe in for the long-term (Bitcoin, ETH, Neo, etc.) and leave the other 50% for speculation (alts, shorting).


I myself have broken these rules on a few occasions as I got greedy and it didn't end well so I had to HODL, check my portfolio every 5 minutes, deal with a massive amount of stress...

If you leave the decision-making to the strategy you follow, not to your emotions, it will make the whole thing much less painful. These two rules are super simple to follow.

"But I made most my crypto money from crypto." "But I am sure there will be a bull run, I will make more money when I put all my savings." "Why only 10%?"

You can NEVER be sure if a price will go up or down. Even technical analysis can mislead you as the crypto market is not regulated, it's the wild wild west and anything can happen. ANYTHING. Good or bad.

We still live in a fiat-dominated world where you pay your bills in fiat (USD, EUR, YEN, etc.). So when your bills come but you've put all your money in crypto and it's going down and you kinda have to HODL, how are you going to pay them? I did that just recently and it was pretty tough to fight with my fear of losing and regret that I didn't sell at the peak.

If you don't need the money, great. Leave it in crypto. But the moment you lose a big amount (and this will happen at some point if you are in the game long enough) you will start panic selling and thinking about all the things you could have bought with that money: a trip, your yearly rent, a yacht, 5 years of freedom from work, etc.

A better way is to slowly regain your initial investment and let the profits make profits. Or take as much money as you need to live comfortably if crypto is your main source of income.

This is where the second advice comes in handy.

Take profit, even when it's counter-intuitive.

"This advice comes from many times of sh*#$ing my pants over the years," – experienced traders lose money too but they only come out stronger.

And finally, don't trade under the influence of your emotions:

FOMO – when it's going up and you've missed the train... but then you buy and it dumps. Happens many times to all of us  If you've missed the train, don't run after it. Wait for the next one (next dip).

FEAR OF LOSING – you're panic selling and then it pumps back up.    Warren Buffet might be a crypto FUD-meister but he's right about getting greedy when others are fearful and getting fearful when others are greedy.

GREED – this is the trickiest of all emotions. Most humans are greedy. It's our nature. And yet most will tell you they're not greedy if you ask them. I am greedy, and so are you. In trading or investing, we realize we've been greedy only after losing money. There is no easy way to learn this lesson but if you follow the two rules above you won't let greed run the show.

I hope this is helpful.

Stay tough! ;-)

That’s good amount of knowledge, especially for beginner. I think these are the points where we or investors make mistakes and lose their money. We should never invest more than what we cannot afford to lose. This can even risk the fulfillment of our basic needs. The FOMO and FUD are other concepts that add to our losses. Therefore these should be carefully tackled.

Here are two simple rules my trading mentor who's been in the game for 30 years taught me.

1. Put 5-10% of your net worth in crypto. No more as you might lose more than you can afford, no less as you won't see much difference.

----

2. Have a strategy. Every month, on a particular day you have chosen, take 50% of your profits in fiat. No ifs, no buts, no waiting for the market to get better or for the price to rise because you "know it will rise 100%". And when it comes to the other half, invest 50% of it in assets you believe in for the long-term (Bitcoin, ETH, Neo, etc.) and leave the other 50% for speculation (alts, shorting).


I myself have broken these rules on a few occasions as I got greedy and it didn't end well so I had to HODL, check my portfolio every 5 minutes, deal with a massive amount of stress...

If you leave the decision-making to the strategy you follow, not to your emotions, it will make the whole thing much less painful. These two rules are super simple to follow.

"But I made most my crypto money from crypto." "But I am sure there will be a bull run, I will make more money when I put all my savings." "Why only 10%?"

You can NEVER be sure if a price will go up or down. Even technical analysis can mislead you as the crypto market is not regulated, it's the wild wild west and anything can happen. ANYTHING. Good or bad.

We still live in a fiat-dominated world where you pay your bills in fiat (USD, EUR, YEN, etc.). So when your bills come but you've put all your money in crypto and it's going down and you kinda have to HODL, how are you going to pay them? I did that just recently and it was pretty tough to fight with my fear of losing and regret that I didn't sell at the peak.

If you don't need the money, great. Leave it in crypto. But the moment you lose a big amount (and this will happen at some point if you are in the game long enough) you will start panic selling and thinking about all the things you could have bought with that money: a trip, your yearly rent, a yacht, 5 years of freedom from work, etc.

A better way is to slowly regain your initial investment and let the profits make profits. Or take as much money as you need to live comfortably if crypto is your main source of income.

This is where the second advice comes in handy.

Take profit, even when it's counter-intuitive.

"This advice comes from many times of sh*#$ing my pants over the years," – experienced traders lose money too but they only come out stronger.

And finally, don't trade under the influence of your emotions:

FOMO – when it's going up and you've missed the train... but then you buy and it dumps. Happens many times to all of us  If you've missed the train, don't run after it. Wait for the next one (next dip).

FEAR OF LOSING – you're panic selling and then it pumps back up.    Warren Buffet might be a crypto FUD-meister but he's right about getting greedy when others are fearful and getting fearful when others are greedy.

GREED – this is the trickiest of all emotions. Most humans are greedy. It's our nature. And yet most will tell you they're not greedy if you ask them. I am greedy, and so are you. In trading or investing, we realize we've been greedy only after losing money. There is no easy way to learn this lesson but if you follow the two rules above you won't let greed run the show.

I hope this is helpful.

Stay tough! ;-)

holding for long term the best to hold is forget it for a while after a month or depends on your target time prediction in your coins investment and again if there have an progress increasing their price value, if not stay calm and forget it again and just relax surely that idea you can earn profits at the right time.

Here are two simple rules my trading mentor who's been in the game for 30 years taught me.

1. Put 5-10% of your net worth in crypto. No more as you might lose more than you can afford, no less as you won't see much difference.

----

2. Have a strategy. Every month, on a particular day you have chosen, take 50% of your profits in fiat. No ifs, no buts, no waiting for the market to get better or for the price to rise because you "know it will rise 100%". And when it comes to the other half, invest 50% of it in assets you believe in for the long-term (Bitcoin, ETH, Neo, etc.) and leave the other 50% for speculation (alts, shorting).


I myself have broken these rules on a few occasions as I got greedy and it didn't end well so I had to HODL, check my portfolio every 5 minutes, deal with a massive amount of stress...

If you leave the decision-making to the strategy you follow, not to your emotions, it will make the whole thing much less painful. These two rules are super simple to follow.

"But I made most my crypto money from crypto." "But I am sure there will be a bull run, I will make more money when I put all my savings." "Why only 10%?"

You can NEVER be sure if a price will go up or down. Even technical analysis can mislead you as the crypto market is not regulated, it's the wild wild west and anything can happen. ANYTHING. Good or bad.

We still live in a fiat-dominated world where you pay your bills in fiat (USD, EUR, YEN, etc.). So when your bills come but you've put all your money in crypto and it's going down and you kinda have to HODL, how are you going to pay them? I did that just recently and it was pretty tough to fight with my fear of losing and regret that I didn't sell at the peak.

If you don't need the money, great. Leave it in crypto. But the moment you lose a big amount (and this will happen at some point if you are in the game long enough) you will start panic selling and thinking about all the things you could have bought with that money: a trip, your yearly rent, a yacht, 5 years of freedom from work, etc.

A better way is to slowly regain your initial investment and let the profits make profits. Or take as much money as you need to live comfortably if crypto is your main source of income.

This is where the second advice comes in handy.

Take profit, even when it's counter-intuitive.

"This advice comes from many times of sh*#$ing my pants over the years," – experienced traders lose money too but they only come out stronger.

And finally, don't trade under the influence of your emotions:

FOMO – when it's going up and you've missed the train... but then you buy and it dumps. Happens many times to all of us  If you've missed the train, don't run after it. Wait for the next one (next dip).

FEAR OF LOSING – you're panic selling and then it pumps back up.    Warren Buffet might be a crypto FUD-meister but he's right about getting greedy when others are fearful and getting fearful when others are greedy.

GREED – this is the trickiest of all emotions. Most humans are greedy. It's our nature. And yet most will tell you they're not greedy if you ask them. I am greedy, and so are you. In trading or investing, we realize we've been greedy only after losing money. There is no easy way to learn this lesson but if you follow the two rules above you won't let greed run the show.

I hope this is helpful.

Stay tough! ;-)

Here are two simple rules my trading mentor who's been in the game for 30 years taught me.

1. Put 5-10% of your net worth in crypto. No more as you might lose more than you can afford, no less as you won't see much difference.

----

2. Have a strategy. Every month, on a particular day you have chosen, take 50% of your profits in fiat. No ifs, no buts, no waiting for the market to get better or for the price to rise because you "know it will rise 100%". And when it comes to the other half, invest 50% of it in assets you believe in for the long-term (Bitcoin, ETH, Neo, etc.) and leave the other 50% for speculation (alts, shorting).


I myself have broken these rules on a few occasions as I got greedy and it didn't end well so I had to HODL, check my portfolio every 5 minutes, deal with a massive amount of stress...

If you leave the decision-making to the strategy you follow, not to your emotions, it will make the whole thing much less painful. These two rules are super simple to follow.

"But I made most my crypto money from crypto." "But I am sure there will be a bull run, I will make more money when I put all my savings." "Why only 10%?"

You can NEVER be sure if a price will go up or down. Even technical analysis can mislead you as the crypto market is not regulated, it's the wild wild west and anything can happen. ANYTHING. Good or bad.

We still live in a fiat-dominated world where you pay your bills in fiat (USD, EUR, YEN, etc.). So when your bills come but you've put all your money in crypto and it's going down and you kinda have to HODL, how are you going to pay them? I did that just recently and it was pretty tough to fight with my fear of losing and regret that I didn't sell at the peak.

If you don't need the money, great. Leave it in crypto. But the moment you lose a big amount (and this will happen at some point if you are in the game long enough) you will start panic selling and thinking about all the things you could have bought with that money: a trip, your yearly rent, a yacht, 5 years of freedom from work, etc.

A better way is to slowly regain your initial investment and let the profits make profits. Or take as much money as you need to live comfortably if crypto is your main source of income.

This is where the second advice comes in handy.

Take profit, even when it's counter-intuitive.

"This advice comes from many times of sh*#$ing my pants over the years," – experienced traders lose money too but they only come out stronger.

And finally, don't trade under the influence of your emotions:

FOMO – when it's going up and you've missed the train... but then you buy and it dumps. Happens many times to all of us  If you've missed the train, don't run after it. Wait for the next one (next dip).

FEAR OF LOSING – you're panic selling and then it pumps back up.    Warren Buffet might be a crypto FUD-meister but he's right about getting greedy when others are fearful and getting fearful when others are greedy.

GREED – this is the trickiest of all emotions. Most humans are greedy. It's our nature. And yet most will tell you they're not greedy if you ask them. I am greedy, and so are you. In trading or investing, we realize we've been greedy only after losing money. There is no easy way to learn this lesson but if you follow the two rules above you won't let greed run the show.

I hope this is helpful.

Stay tough! ;-)

I think that at this point you should not invest long term, the market is fluctuating continuously and bitcoin prices are adjusting very hard to guess. According to my analysis, the current price of bitcoin is at $ 7700 and will probably increase slightly before continuing to adjust to the new milestone. The market is bearish in the long run as long-term trading is very difficult at this time and the risk is very high.

Here are two simple rules my trading mentor who's been in the game for 30 years taught me.

1. Put 5-10% of your net worth in crypto. No more as you might lose more than you can afford, no less as you won't see much difference.

----

2. Have a strategy. Every month, on a particular day you have chosen, take 50% of your profits in fiat. No ifs, no buts, no waiting for the market to get better or for the price to rise because you "know it will rise 100%". And when it comes to the other half, invest 50% of it in assets you believe in for the long-term (Bitcoin, ETH, Neo, etc.) and leave the other 50% for speculation (alts, shorting).


I myself have broken these rules on a few occasions as I got greedy and it didn't end well so I had to HODL, check my portfolio every 5 minutes, deal with a massive amount of stress...

If you leave the decision-making to the strategy you follow, not to your emotions, it will make the whole thing much less painful. These two rules are super simple to follow.

"But I made most my crypto money from crypto." "But I am sure there will be a bull run, I will make more money when I put all my savings." "Why only 10%?"

You can NEVER be sure if a price will go up or down. Even technical analysis can mislead you as the crypto market is not regulated, it's the wild wild west and anything can happen. ANYTHING. Good or bad.

We still live in a fiat-dominated world where you pay your bills in fiat (USD, EUR, YEN, etc.). So when your bills come but you've put all your money in crypto and it's going down and you kinda have to HODL, how are you going to pay them? I did that just recently and it was pretty tough to fight with my fear of losing and regret that I didn't sell at the peak.

If you don't need the money, great. Leave it in crypto. But the moment you lose a big amount (and this will happen at some point if you are in the game long enough) you will start panic selling and thinking about all the things you could have bought with that money: a trip, your yearly rent, a yacht, 5 years of freedom from work, etc.

A better way is to slowly regain your initial investment and let the profits make profits. Or take as much money as you need to live comfortably if crypto is your main source of income.

This is where the second advice comes in handy.

Take profit, even when it's counter-intuitive.

"This advice comes from many times of sh*#$ing my pants over the years," – experienced traders lose money too but they only come out stronger.

And finally, don't trade under the influence of your emotions:

FOMO – when it's going up and you've missed the train... but then you buy and it dumps. Happens many times to all of us  If you've missed the train, don't run after it. Wait for the next one (next dip).

FEAR OF LOSING – you're panic selling and then it pumps back up.    Warren Buffet might be a crypto FUD-meister but he's right about getting greedy when others are fearful and getting fearful when others are greedy.

GREED – this is the trickiest of all emotions. Most humans are greedy. It's our nature. And yet most will tell you they're not greedy if you ask them. I am greedy, and so are you. In trading or investing, we realize we've been greedy only after losing money. There is no easy way to learn this lesson but if you follow the two rules above you won't let greed run the show.

I hope this is helpful.

Stay tough! ;-)

I don't think previous experience in trading have big impact on the success in the crypto because it is very different market having different dynamcis which probably have not been seen before, also putting 5-10% in crypto is absolutely nonsense if you know well what you are doing in crypto.