Topic: How to HODL the right way - page 5. (Read 553 times)
You wrote good advice but anyway every trader has its own rules of trading and I agree with you that the crucial thing is a money management but every trader encounters with typical tasks but few of them use existing experience of other successful traders so you are right that you learned alien experience.
Capital preservation is your top priority when HODLING.
When investing; risk some of your capital in speculations and altcoins, always have some hedge funds in stabilized currencies (BTC, ETH, NEO etc)
Avoid greed; this is easier said than done but always lock a % of your profit, regardless of how high you think it might still rise.
In order to hold properly you need to have an investment plan and seriously do it but what you need to do is to choose the right coin and have real value, which is a good prerequisite for you to succeed in holding a coin. If you determine long-term hold, you also need a reserve fund to continue the DCA if the coin continues to fall. Do not worry and follow the investment plan set out will affect your success.When investing; risk some of your capital in speculations and altcoins, always have some hedge funds in stabilized currencies (BTC, ETH, NEO etc)
Avoid greed; this is easier said than done but always lock a % of your profit, regardless of how high you think it might still rise.
For me the best way to hold is buying a coins and monator the price so that you know the changes of price and then keep it and after 1 to 2 years im sure you can get a profit and dont sell it if you think your money will loss and dont be panic and give trust because im sure if you have patience and trust you can get a huge profit.
Capital preservation is your top priority when HODLING.
When investing; risk some of your capital in speculations and altcoins, always have some hedge funds in stabilized currencies (BTC, ETH, NEO etc)
Avoid greed; this is easier said than done but always lock a % of your profit, regardless of how high you think it might still rise.
In order to hold properly you need to have an investment plan and seriously do it but what you need to do is to choose the right coin and have real value, which is a good prerequisite for you to succeed in holding a coin. If you determine long-term hold, you also need a reserve fund to continue the DCA if the coin continues to fall. Do not worry and follow the investment plan set out will affect your success. When investing; risk some of your capital in speculations and altcoins, always have some hedge funds in stabilized currencies (BTC, ETH, NEO etc)
Avoid greed; this is easier said than done but always lock a % of your profit, regardless of how high you think it might still rise.
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! ;-)
If you are an investor then you can start buying at this time, you can see that the price of bitocin in recent days is constantly decreasing and this has led to the price of altcoin is very cheap. deep. So I believe that this is the right time for you to buy and invest in the long run. The altcoin girl is at the bottom and this is a great time for you to consolidate. 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! ;-)
If you want to keep and invest for a long time, then itin this is a good time to buy altcoin. The market in recent days is constantly fluctuating, bitcoin prices are constantly decreasing and this causes the price of altcoin is continuing to fall deep. So I believe you can start altcoin at this time and keep it in the long term. 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! ;-)
Well, i believe in all your advice and that is the only way out for one to br a successful crypto currency trader but as human as we are, controlling one emotions is one of the most difficult problem to solve particularly when it comes trading crypto currency and Forex if i may add.
it is true that you and your friends who have given good advice. and most of it is experienced by investors or people who trade it is having a very big emotion when experiencing anxiety in response to the decline in coin prices.
Capital preservation is your top priority when HODLING.
When investing; risk some of your capital in speculations and altcoins, always have some hedge funds in stabilized currencies (BTC, ETH, NEO etc)
Avoid greed; this is easier said than done but always lock a % of your profit, regardless of how high you think it might still rise.
When investing; risk some of your capital in speculations and altcoins, always have some hedge funds in stabilized currencies (BTC, ETH, NEO etc)
Avoid greed; this is easier said than done but always lock a % of your profit, regardless of how high you think it might still rise.
Well, i believe in all your advice and that is the only way out for one to br a successful crypto currency trader but as human as we are, controlling one emotions is one of the most difficult problem to solve particularly when it comes trading crypto currency and Forex if i may add.
Actually this is a good advice and a big help also for those who lacks of knowledge , specifically to those who can't control their emotions when there's a bad scenario happen . But unfortunately opposite always happened nowadays which is they 're always panicking and ignore this kind of advice ,and always regrets as well. to be honest mate this advice will become useless because people nowadays are always struggled when it comes to controlling emotions.
You are so right... I fail too at times. We're humans so it's okay to make mistakes. But it's important to at least try and have discipline, this is what wins over making emotional decisions.
Actually this is a good advice and a big help also for those who lacks of knowledge , specifically to those who can't control their emotions when there's a bad scenario happen . But unfortunately opposite always happened nowadays which is they 're always panicking and ignore this kind of advice ,and always regrets as well. to be honest mate this advice will become useless because people nowadays are always struggled when it comes to controlling emotions.
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! ;-)
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! ;-)
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