In my opinion, if you want to hold for long term, you need to have a clear goal and a stable mentality. The current market is not stable and the price may collapse anytime soon, and you need to be mentally stable so as not to panic sell during this period.
Indeed its a must to have a plan and set target price on when you're going to sell so you know when to exit. To prevent ourselves selling at the wrong time we should only invest the money that is not meant for other important things. Hence if the market turns bearish you're not going to panic because you can afford to lose the money you invest. Buy coins that has potential particularly btc because its safe to hold even for long period. 
Topic: How to prepare for long term HODL - page 3. (Read 8786 times)
Set a baseline of what price you willing to sell, at what % of your total hodl. That it and never thought about sold it below that price.
One of the formulas which I also apply is that I have my buy and sell target set in and accordingly I take decision and o not become over greedy when the price sets in and accordingly I buy/sell also little market situation need to be aware along with this things. This will help you overall as you would always be buying/selling at your own rates and not be depending on others and will also learn many things through your own research.
In my opinion, if you want to hold for long term, you need to have a clear goal and a stable mentality. The current market is not stable and the price may collapse anytime soon, and you need to be mentally stable so as not to panic sell during this period.
Best way to HODL is buying in cheap and wait until it goes up it's value since if you can buy back once it goes down then it is good deal. But it will really depend on what you are buying if its BTC then it is good for long term but if its an altcoin then you may need to be aware that it could take months before the value it pump up even those top ranked altcoins we cannot make sure if the value will rise up.
That's why we need to make a research and analyzing and making prediction could help you be positive and not affect for those FOMOs and FUDs circulating in social media and forums.
When doing some long term hold you need to strengthen your emotional capability that can ease the time you will spending in waiting for the next bull run. Like this year it is very frustrating and it is very hard to hold when we need to sell it. But do not invest what we are afford to lose. It can vanish also, so better to choose a good coin.That's why we need to make a research and analyzing and making prediction could help you be positive and not affect for those FOMOs and FUDs circulating in social media and forums.
If you are not ready for the roller coaster ride here in crypto and you are worried about what's gonna happen with your portfolio, I think you need to assess your situation. Because if what you invested is like the money of your savings account, then, you should really evaluate your situation if you can cope up with long term hodl without assurance of what's gonna happen. It is really better to invest in crypto the money what you can afford to lose so you are not agitated 24/7, looking every movement, can't eat, can't sleep...it will exhaust you mentally, emotionally, financially and maybe spiritually.
Set a baseline of what price you willing to sell, at what % of your total hodl. That it and never thought about sold it below that price.
Best way to HODL is buying in cheap and wait until it goes up it's value since if you can buy back once it goes down then it is good deal. But it will really depend on what you are buying if its BTC then it is good for long term but if its an altcoin then you may need to be aware that it could take months before the value it pump up even those top ranked altcoins we cannot make sure if the value will rise up.
That's why we need to make a research and analyzing and making prediction could help you be positive and not affect for those FOMOs and FUDs circulating in social media and forums.
When doing some long term hold you need to strengthen your emotional capability that can ease the time you will spending in waiting for the next bull run. Like this year it is very frustrating and it is very hard to hold when we need to sell it. But do not invest what we are afford to lose. It can vanish also, so better to choose a good coin. That's why we need to make a research and analyzing and making prediction could help you be positive and not affect for those FOMOs and FUDs circulating in social media and forums.
Note: This is not about how to identify good coins to HODL
This is about how you can be a good long term holder
1. You must have another source of income
Either in crypto space or outside crypto space you must have other source of income,there was a time when i used to rely on coins i hold for monthly income but most time they failed me because some altcoins takes more than a month to add value. You can learn trading or find a better job to get constant income for your daily needs.
This is about how you can be a good long term holder
1. You must have another source of income
Either in crypto space or outside crypto space you must have other source of income,there was a time when i used to rely on coins i hold for monthly income but most time they failed me because some altcoins takes more than a month to add value. You can learn trading or find a better job to get constant income for your daily needs.
This is very true, having funds, savings, or extra income while you're holding is needed, why? well because that would prevent you from selling the tokens you're holding in case you run out of funds, what I mentioned above will save your profits in the long run, therefore holding is a serious matter that needs a great decision making, if not, you'll just waste your funds and effort of waiting to nothing.
Agree, by having money used for living expenses, I think we will be calmer when we decide to invest in the long term. Never use bank loan money because cryptocurrency price movements are very volatile and this will make us uneasy and in a hurry in deciding to sell
Note: This is not about how to identify good coins to HODL
This is about how you can be a good long term holder
1. You must have another source of income
Either in crypto space or outside crypto space you must have other source of income,there was a time when i used to rely on coins i hold for monthly income but most time they failed me because some altcoins takes more than a month to add value. You can learn trading or find a better job to get constant income for your daily needs.
This is about how you can be a good long term holder
1. You must have another source of income
Either in crypto space or outside crypto space you must have other source of income,there was a time when i used to rely on coins i hold for monthly income but most time they failed me because some altcoins takes more than a month to add value. You can learn trading or find a better job to get constant income for your daily needs.
This is very true, having funds, savings, or extra income while you're holding is needed, why? well because that would prevent you from selling the tokens you're holding in case you run out of funds, what I mentioned above will save your profits in the long run, therefore holding is a serious matter that needs a great decision making, if not, you'll just waste your funds and effort of waiting to nothing.
On preparing a long term hodling you need to be able to always updated on the crypto news and the news and updates from the token or coins that you are holding
so that you will be able to have knowledge on what is happening on the token or coin that you are holding right now.
This are the tips that I can give you as of now and lastly you need to be not panic on times that the token or coin that you are holding will dump because it is normal
due to the volatile of the crypto.
so that you will be able to have knowledge on what is happening on the token or coin that you are holding right now.
This are the tips that I can give you as of now and lastly you need to be not panic on times that the token or coin that you are holding will dump because it is normal
due to the volatile of the crypto.
Holding for the long term is good but it is really important that before choosing which tokens or coin to hold for the long-term you have to do a good due diligence research on the particular crypto you want to hold.
I'm my opinion I think the success of a project majorly depends on the caliber of the team and it's visioneers.
So when you find out about the activities of the leaders you can understand where the project will be headed to which will give you good insight on whether or not to Hodl for the long term
I'm my opinion I think the success of a project majorly depends on the caliber of the team and it's visioneers.
So when you find out about the activities of the leaders you can understand where the project will be headed to which will give you good insight on whether or not to Hodl for the long term
I think I mostly cherish the stay updated regularly. That's the life line. Whether you invest in a good or bad project, you need updated quality information about them so you can always review your interest and make new decisions.
Hmmm, it's really not good to hold coins for long I must say, with the way crypto is today and the way market is globally no amount of strategy could make one trust a coin won't dump on the long run even exchange coins can't be trusted I must say. I am not an advocate if long term holding though
Hodling a developing project will eventually always pay...
For the long term investment, you explained it very well but in the theory. The theory on paper is totally different than reality which slaps everyone hard. It is easy to advise, but applying this to job takes serious amount of hard work and time.
I agree with you. HODL is easily said than done. It is a really ahrd journey and if you don't really know that system, it will hit you very hard when an opportunity was missed. Every decision counts. TS done a good job on the theory side as well as #3 which really focus on good coins. I hope there is still a balance on the market, not all should choose to hold. I totally agree with you that not altcoins are for long term Hodl and bitcoin and some other top coins are only to be used for long time hodl, you also have to stay updated and keep checking on your investment because nothing is actually promised and you have to keep track of your investment
When holding an altcoin for long term, staying updated with the project's progress and updates is very vital. A friend lost a whooping sum because he was holding a coin for very long term but didn't follow up regularly, when they did a swap, he missed the deadline and only got to know when he tried sending the coin to exchange. There is no remedy till date about that, so closely follow up on every coin you hold, it's very essential.
I totally agree with you that not altcoins are for long term Hodl and bitcoin and some other top coins are only to be used for long time hodl, you also have to stay updated and keep checking on your investment because nothing is actually promised and you have to keep track of your investment
When holding an altcoin for long term, staying updated with the project's progress and updates is very vital. A friend lost a whooping sum because he was holding a coin for very long term but didn't follow up regularly, when they did a swap, he missed the deadline and only got to know when he tried sending the coin to exchange. There is no remedy till date about that, so closely follow up on every coin you hold, it's very essential.
For long term hodl we just can't put all of our investment into one or more cryptos and after that we sit back and relax.
NO !
This is not how long term hodl works and this is not the right strategy all the time. Long term hodl is we have to make a portfolio of currencies mostly based on bluechip currencies and invest the major portion of savings in them like ( e.g 60% to 70%) and then use the other portion of investment to invest for short term profits like daily trades of small profits buy and selling, buying low selling high and repeat. This is how I prepare myself for long term hodl.
For the long term investment, you explained it very well but in the theory. The theory on paper is totally different than reality which slaps everyone hard. It is easy to advise, but applying this to job takes serious amount of hard work and time. NO !
This is not how long term hodl works and this is not the right strategy all the time. Long term hodl is we have to make a portfolio of currencies mostly based on bluechip currencies and invest the major portion of savings in them like ( e.g 60% to 70%) and then use the other portion of investment to invest for short term profits like daily trades of small profits buy and selling, buying low selling high and repeat. This is how I prepare myself for long term hodl.
And the simplest way to invest in long-term is to not be afraid of losing, choosing the top altcoins in this market and buying it.
For long term hodl we just can't put all of our investment into one or more cryptos and after that we sit back and relax.
NO !
This is not how long term hodl works and this is not the right strategy all the time. Long term hodl is we have to make a portfolio of currencies mostly based on bluechip currencies and invest the major portion of savings in them like ( e.g 60% to 70%) and then use the other portion of investment to invest for short term profits like daily trades of small profits buy and selling, buying low selling high and repeat. This is how I prepare myself for long term hodl.
NO !
This is not how long term hodl works and this is not the right strategy all the time. Long term hodl is we have to make a portfolio of currencies mostly based on bluechip currencies and invest the major portion of savings in them like ( e.g 60% to 70%) and then use the other portion of investment to invest for short term profits like daily trades of small profits buy and selling, buying low selling high and repeat. This is how I prepare myself for long term hodl.
Best way to HODL is buying in cheap and wait until it goes up it's value since if you can buy back once it goes down then it is good deal. But it will really depend on what you are buying if its BTC then it is good for long term but if its an altcoin then you may need to be aware that it could take months before the value it pump up even those top ranked altcoins we cannot make sure if the value will rise up.
That's why we need to make a research and analyzing and making prediction could help you be positive and not affect for those FOMOs and FUDs circulating in social media and forums.
Very few people are going to be effective holders precisely because of this, they let themselves be dominated by FOMO or FUD, and instead of holding their coins as they should they begin to sell them in the case of FUD or they buy them in the case of FOMO and then they wonder why they do not seem to make any money in the markets, if you are going to be a long term holder then you need to keep your coins no matter what happens and until you can do that then you will never obtain any profits as a long term holder. That's why we need to make a research and analyzing and making prediction could help you be positive and not affect for those FOMOs and FUDs circulating in social media and forums.
Best way to HODL is buying in cheap and wait until it goes up it's value since if you can buy back once it goes down then it is good deal. But it will really depend on what you are buying if its BTC then it is good for long term but if its an altcoin then you may need to be aware that it could take months before the value it pump up even those top ranked altcoins we cannot make sure if the value will rise up.
That's why we need to make a research and analyzing and making prediction could help you be positive and not affect for those FOMOs and FUDs circulating in social media and forums.
That's why we need to make a research and analyzing and making prediction could help you be positive and not affect for those FOMOs and FUDs circulating in social media and forums.
Especially in Bitcoin, we know how it is worth to invest on it and hold for long term, so we should just simply hold it when we do have spare money to buy and then wait for years or even do a short term trading, if you know how to make strategy on it, you will always benefited thru the pump and dump of it.
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