Never Marry a Coin/Project - Practically Example - page 2.

Johnyz

full member

Activity: 2086

Merit: 193

Quote from: Sanitough on September 22, 2023, 04:16:34 PM

Never invest in your greed because if you do that, no matter how profitable those coins are, you will still never end up successful. And never put high expectations in your investment. Every investment has its own lapses, and whether you like it or not, there will always be inevitable events that are out of your control that will lead to your sudden losses. So never marry your coin. Know that you invest to make profits, so sell if there’s a need to make a decent gains.

In investing and trading, we should always have a realistic target and avoid the greed and being too emotional.
The goal is to make profit and not to get too attached on any project or coin. Many are being too emotion and can't sell their holdings even if they already accumulated a good profit because of a hope that the price might continue to go up, usually it does but in some cases, you might miss the opportunity to sell if you continue to hope for the big pump. Analyze the market well, know exactly the current trend and adjust based on it.

Sanitough

hero member

Activity: 2856

Merit: 674

Never invest in your greed because if you do that, no matter how profitable those coins are, you will still never end up successful. And never put high expectations in your investment. Every investment has its own lapses, and whether you like it or not, there will always be inevitable events that are out of your control that will lead to your sudden losses. So never marry your coin. Know that you invest to make profits, so sell if there’s a need to make a decent gains.

Mahanton

hero member

Activity: 2730

Merit: 632

Quote from: terrific on September 22, 2023, 12:26:29 PM

Quote from: tvplus006 on September 21, 2023, 11:22:03 AM

Quote from: terrific on September 21, 2023, 05:50:40 AM

There is only guarantee when we hold a specific coin and that's Bitcoin. The future is assured but apart from that, you need to be patient holding it for a very long time...

You are mistaken, because there are no guarantees in this world. Especially when it comes to the cryptocurrency market. When you talk about guaranteed profits, you are turning bitcoin into a pyramid scheme where profits are also guaranteed by scammers.

You're right that there's no guarantee but if it's about investing on this market, it's a guarantee that you're investing in a good crypto if it's Bitcoin.
Whether we like it or not, if it's about Bitcoin many are going to agree that it's got the brighter future than any other assets and crypto in the market.
Maybe I've just used the wrong word about telling that it's a guarantee and should be replaced by a 'safer' asset if it's Bitcoin than the others.

Stick with the best and the main coin on which the community is supporting which is Bitcoin, the only issue on which why some people would really be looking towards other coins is that they cant really be able to earn
many multipliers and this is why they would really be looking towards into those coins which they would really be able to get such possibility and this is what makes them really that able to get that kind of opportunity
and this is why they would really be holding no matter what into those coins that they had bought and wont really be making out some priorities towards Bitcoin and some top altcoins which they would really be
tending to hold and dive in with those new projects or not so old coins which it does have the potential.I agree that it would really be just that wise that you should really be setting out that selling point on which
you should really be that getting out or cashing out that capital of yours and leave for some moonbag. You would really be ending up on regretting if you do have missed out that kind of opportunity.

terrific

hero member

Activity: 2324

Merit: 513

Catalog Websites

Quote from: tvplus006 on September 21, 2023, 11:22:03 AM

Quote from: terrific on September 21, 2023, 05:50:40 AM

There is only guarantee when we hold a specific coin and that's Bitcoin. The future is assured but apart from that, you need to be patient holding it for a very long time...

You are mistaken, because there are no guarantees in this world. Especially when it comes to the cryptocurrency market. When you talk about guaranteed profits, you are turning bitcoin into a pyramid scheme where profits are also guaranteed by scammers.

You're right that there's no guarantee but if it's about investing on this market, it's a guarantee that you're investing in a good crypto if it's Bitcoin.
Whether we like it or not, if it's about Bitcoin many are going to agree that it's got the brighter future than any other assets and crypto in the market.
Maybe I've just used the wrong word about telling that it's a guarantee and should be replaced by a 'safer' asset if it's Bitcoin than the others.

Cling18

full member

Activity: 1708

Merit: 126

Quote from: tvplus006 on September 21, 2023, 11:22:03 AM

Quote from: terrific on September 21, 2023, 05:50:40 AM

There is only guarantee when we hold a specific coin and that's Bitcoin. The future is assured but apart from that, you need to be patient holding it for a very long time...

You are mistaken, because there are no guarantees in this world. Especially when it comes to the cryptocurrency market. When you talk about guaranteed profits, you are turning bitcoin into a pyramid scheme where profits are also guaranteed by scammers.

When we talk about a good foundation, Bitcoin could provide us an assurance yet I agree that there's no guarantee that any coin could last a lifetime. There isn't 100% assurance in crypto but as smart investors, we should know when to take profit and to sell.
There's no problem with a long-term investment but I don't think it would be wise to hold meme coins for the long term because they're being carried away by the hype. We should take advantage of the hype but we should not expect too much out of it. Some coins are worth holding and some coins are just worth investing for a short-term period.

carlfebz2

hero member

Activity: 2926

Merit: 722

DGbet.fun - Crypto Sportsbook

Quote from: Cookdata on September 21, 2023, 10:06:59 AM

Quote from: DanWalker on September 17, 2023, 08:14:55 AM

Quote from: Lanatsa on September 16, 2023, 01:52:36 PM

~snip~
These kind of acts do really shows that people are really that greedy! We are hoping for more and despite of saying that we do support the project but its impossible to deny that making profit
is what we are really that mainly aiming which its normal.It is really just that people do make out different decisions on a particular time or condition which neither it could be considered
to be a good or bad hit or such action.

You have a point there, many people are holding junk altcoins, and they always say they are supporting the project, but the truth behind it is that they have become too greedy and are paying a pretty heavy price and becoming reluctant holders. Indeed, other than those who are embracing bitcoin as a currency, no one in this market is kind enough to say they are supporting the project. We all have a single goal of making as much profit as possible, we have never intended to support any project. I would be suspicious if someone said they don't care about profits and just want to support the project. Because we all know that this is a financial market and there will be winners and losers.

Euphoria stage is one of the most difficult stage of a holder, the most difficult stage to determine when to sell but they get too much excitement and forget that excitements of the market isn't a forever thing to do, I can hold Bitcoin for long term even if when the market is crashing, it will not bother me but I can't do the same with altcoins, I'm sorry and not offend the altcoin guys but I will never hold any altcoins, the fastest way to make money in crypto with small capital are through altcoins and the fastest way to go broke in crypto is through altcoins too, so it's either you go bitcoin with less risk or go altcoins and get squeeze.

I have never been a fan and I wouldn't discourage, the market is highly saturated with shitcoins and that's why many of them keep coming here but if you check the number of people that make it through altcoins at few, it doesn't worth it but when you try to tell them, they will say haters must hate but no problem about that, we are here to observe another run after halving, they would be suprise that many of these altcoins will not make any run again.

We are really just that humans on which seeing our portfolio suffering from great negative then it would really be just that normal that you would really be creating those doubts or would really be having that kind of issues when it comes to your investment which you would really be mainly thinking on cutting loss to avoid that further negative which would really be causing for that huge effect into your investment and already forgetting that recovery could really be still that possible even if you would really be just tending to hold it off and wait for the market u-turn or recovery which we know that it could really be happening.

On the stage where the community is really on the verge of extreme fear and anxiety towards market movement then it would really be creating that all around fear and hesitance which it is really that something
very normal that would really be that experienced since we know that its never been that ideal on tolerating that kind of emotion because once you dont able to get a hold of such stuff then you would
really be hardly be able to make yourself do make out some decisions which arent supposed to be done. This is why being aware of the situation is always that recommended.

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

Quote from: terrific on September 21, 2023, 05:50:40 AM

There is only guarantee when we hold a specific coin and that's Bitcoin. The future is assured but apart from that, you need to be patient holding it for a very long time...

You are mistaken, because there are no guarantees in this world. Especially when it comes to the cryptocurrency market. When you talk about guaranteed profits, you are turning bitcoin into a pyramid scheme where profits are also guaranteed by scammers.

Cookdata

hero member

Activity: 1106

Merit: 912

Not Your Keys, Not Your Bitcoin

Quote from: DanWalker on September 17, 2023, 08:14:55 AM

Quote from: Lanatsa on September 16, 2023, 01:52:36 PM

~snip~
These kind of acts do really shows that people are really that greedy! We are hoping for more and despite of saying that we do support the project but its impossible to deny that making profit
is what we are really that mainly aiming which its normal.It is really just that people do make out different decisions on a particular time or condition which neither it could be considered
to be a good or bad hit or such action.

You have a point there, many people are holding junk altcoins, and they always say they are supporting the project, but the truth behind it is that they have become too greedy and are paying a pretty heavy price and becoming reluctant holders. Indeed, other than those who are embracing bitcoin as a currency, no one in this market is kind enough to say they are supporting the project. We all have a single goal of making as much profit as possible, we have never intended to support any project. I would be suspicious if someone said they don't care about profits and just want to support the project. Because we all know that this is a financial market and there will be winners and losers.

Euphoria stage is one of the most difficult stage of a holder, the most difficult stage to determine when to sell but they get too much excitement and forget that excitements of the market isn't a forever thing to do, I can hold Bitcoin for long term even if when the market is crashing, it will not bother me but I can't do the same with altcoins, I'm sorry and not offend the altcoin guys but I will never hold any altcoins, the fastest way to make money in crypto with small capital are through altcoins and the fastest way to go broke in crypto is through altcoins too, so it's either you go bitcoin with less risk or go altcoins and get squeeze.

I have never been a fan and I wouldn't discourage, the market is highly saturated with shitcoins and that's why many of them keep coming here but if you check the number of people that make it through altcoins at few, it doesn't worth it but when you try to tell them, they will say haters must hate but no problem about that, we are here to observe another run after halving, they would be suprise that many of these altcoins will not make any run again.

terrific

hero member

Activity: 2324

Merit: 513

Catalog Websites

Quote from: Vaculin on September 19, 2023, 04:59:56 PM

Marrying a coin is like compromising your investment in the future. No one holds guarantees what will happen in the future so if these coins you are hodling suddenly drop and lose their value, you will lose the chances to make future profits. This is the reason why we have to sell if we see the market is giving us opportunities to make profits. And hold when the market is giving us a signal that there is more profits coming ahead.

There is only guarantee when we hold a specific coin and that's Bitcoin. The future is assured but apart from that, you need to be patient holding it for a very long time.
While for the other cryptos that you're holding, it is true that you need to have plans on how long you're going to hold it and at what price you're going to sell them.
If you miss selling them, that's the mistake that you will commit because have done that in the past and can no longer afford to do it again.

BitDane

sr. member

Activity: 1372

Merit: 348

Quote from: Vaculin on September 19, 2023, 04:59:56 PM

Marrying a coin is like compromising your investment in the future. No one holds guarantees what will happen in the future so if these coins you are hodling suddenly drop and lose their value, you will lose the chances to make future profits. This is the reason why we have to sell if we see the market is giving us opportunities to make profits. And hold when the market is giving us a signal that there is more profits coming ahead.

True! A trader or investor must set a realistic selling price target. He should always be ready to part his investment when the profit is realized or the selling price is met. It is not good to set selling price that is not realistic since it can lead to marrying this coins and live with it in eternity. I have seen many situation like this where the investors setting up unrealistic selling prices only to end up bagholding worthless tokens and coins.

Quote from: tvplus006 on September 20, 2023, 03:39:02 PM

Quote from: Fivestar4everMVP on September 14, 2023, 05:48:53 AM

... always take profit.

This is the problem for any investor, to choose the right level where it is necessary to sell the coin. In this case, if the price of the coin is constantly increasing, and you want to sell it at the maximum price, you need to fix your profit by setting a stop loss.

This ain't a problem if the investor is not greedy. If the investor is content having an average profit an not aim for massive profit such as 10kx. Indeed one must use the stop loss option in order to protect our investment from too much losses and also protect our profit by selling our holdings in case the price surge and we are waiting for it to surge more, it won't hurt if we set the stop loss option at some point but still in the line of profit just in case the market gets dumped.

Stable090

sr. member

Activity: 770

Merit: 445

Quote from: Fuso.hp on September 19, 2023, 12:43:44 PM

These screenshots are proof that excessive greed is never good. It might be foolish to expect more from this ALT coin.

When investing, you don’t have to be greedy, or you might even end up losing the profits that you were supposed to have taken if you sold it. When investing in bitcoin and you are planning to hold it for a very long time, you don’t have to care about the market movement until your target is hit, but I don’t trust altcoins, and sometimes we might be expecting an altcoin to perform well, but at the end they will end up disappointing. That’s why sometimes when you are in good profit, always learn to take profits and don’t expect too much from altcoins.

Let’s see if he will be able to hold Doge coin till when it’s going to pump again. Maybe he will be able to sell at higher price, but nobody knows when Doge coin will get to the price again or if it’s really going to get to the price again. Doge coin always pumps if it’s being hyped by Elon Musk, so he should wait for hype from him, or maybe Elon Musk will be able to pump the coin with his money.

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

Quote from: Fivestar4everMVP on September 14, 2023, 05:48:53 AM

... always take profit.

This is the problem for any investor, to choose the right level where it is necessary to sell the coin. In this case, if the price of the coin is constantly increasing, and you want to sell it at the maximum price, you need to fix your profit by setting a stop loss.

Vaculin

hero member

Activity: 2940

Merit: 613

Winding down.

Marrying a coin is like compromising your investment in the future. No one holds guarantees what will happen in the future so if these coins you are hodling suddenly drop and lose their value, you will lose the chances to make future profits. This is the reason why we have to sell if we see the market is giving us opportunities to make profits. And hold when the market is giving us a signal that there is more profits coming ahead.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: blockman on September 14, 2023, 05:57:20 AM

What a big mistake from that guy. Even with that $250k, if it's me I guess I'll take profit when it doubles and becomes $500k. But he did really give himself the space for greed and thought himself that he's cool by just holding it for too long. Remember that this market is totally brutal for most of the altcoins. It's totally fine if it's with bitcoin because it's for sure going to recover but uncertain with Dogecoin. We knew it that it had become a trend because Elon gave it space to his own platform and kept on tweeting about it. But we're seeing that without him shilling it, Dogecoin remains to be the funniest meme coin that it has ever been but investing wise, it's not.

An even better idea is that if you really think a coin has a chance to skyrocket and it has produced 100% in profits already is to sell half of your stash, that way if you happen to be wrong then you do not lose a single cent, but if you are right then you can still enjoy the huge profits such a coin can produce for you at no risk for yourself, as at that moment you are basically investing with free money and as such you will have no pressure at all and you will be more easily compelled to take the right decision as you have no load over your shoulders to perform any more.

stomachgrowls

hero member

Activity: 3010

Merit: 794

Quote from: jaberwock on September 19, 2023, 11:54:11 AM

Quote from: cafter on September 14, 2023, 12:58:09 PM

it's a expensive mistake which taught him about crypto, patience, experiencing bear market, Hodling, etc. because he invested his life saving and borrowed money he remembers every thing he learned in between.
Glauber Contessoto said he is buying the dip which is good practice in bear market, some people instead may had sold everything and never looked at cryptocurrency.

I don't think he learned because if he do, he won't take for a long time to sell his coin, but he is showing that he have a patience there. The next time he switch on other better crypto, it won't be hard for him to start again. I see that he also buys at the dip. That maybe the reason on why he have the courage to hold longer. He knows that he can only lose less.

Those who sell and never looked back were maybe the real ones who betted all and fail. They are very disappointed about their selves. The moral in the story here is to have a target. Even if that wasn't huge I prefer it better because it ensures us to earn something than nothing at all.

We cant say that he didnt learn because realizing things on the errors and mistakes that you have done on which holding doesnt mean that he didnt learn it is really just that he doesnt have the choice on doing so because
its never been having no sense on selling out on loses and this is what makes things harder because you cant really be able to push yourself on doing something but rather to wait for the recovery. Lots of chances or opportunities that had been missed out is really that common because the market is really that unpredictable in the first place and there's no way that we could really be able to tell on where it would be heading and this is why it is really that important that you should really be needing to select or having those kind of selling targets or threshold on which on the time that it would hit up then you do need to make some sell.

This is what my primary rule on investing here on crypto space on which i do really tend to secure out my capital as much as possible. I do only next make out that kind of approach on holding
if ever the coin is really that worth holding no matter what the price it would be as long it would be fitting out on the criteria.

Fuso.hp

sr. member

Activity: 490

Merit: 294

These screenshots are proof that excessive greed is never good. It might be foolish to expect more from this ALT coin. Market gave him huge amount of profit but maybe that profit is not in his destiny. If such a large profit was in his fortune, he might have sold his investment at the peak of the market. If we consider the time from the peak of the market to now, his investment has lost a lot of money, I don't know how much time it will take him to recover this loss or if he will recover this loss at all. If he had invested in Bitcoin then he would have expected that the market would definitely go well but his investment was in ALT coin. Because Dogecoin's market has suddenly dropped so low, many investors may not invest in the coin, which means that the coin's value will never increase if investors don't invest.

BitcoinTurk

hero member

Activity: 1666

Merit: 629

Absolutely, it is very important not to become emotionally attached to a project or cryptocurrency in any way. Glauber's experience is the biggest proof of this and unfortunately many of us are experiencing or will experience this situation. To give an example from myself, I entered the NFT market approximately 2 years ago. This is why I connected to the NFT project that I first minted and I didn't sell while its price was rising quite rapidly. After a loss of approximately 500 USD, I had to make the sale due to the NFT market lost it's hype. Although this incident didn't cause me a serious financial loss. It taught me that I should never establish a emotionally attached with a project or cryptocurrency. Of course, this situation repeated itself two more times afterwards but due to these I eventually learned that I shouldn't establish any emotionally attached with a project or cryptocurrency.

I would also like to add this; There is a big difference between being a long-term investor of any project or cryptocurrency and emotionally attacheded. Of course, when the sales period of long-term investments comes it is very important not to make a emotionally connection at this point and to get the targeted profit margin correctly.

jaberwock

legendary

Activity: 2660

Merit: 1074

Quote from: cafter on September 14, 2023, 12:58:09 PM

it's a expensive mistake which taught him about crypto, patience, experiencing bear market, Hodling, etc. because he invested his life saving and borrowed money he remembers every thing he learned in between.
Glauber Contessoto said he is buying the dip which is good practice in bear market, some people instead may had sold everything and never looked at cryptocurrency.

I don't think he learned because if he do, he won't take for a long time to sell his coin, but he is showing that he have a patience there. The next time he switch on other better crypto, it won't be hard for him to start again. I see that he also buys at the dip. That maybe the reason on why he have the courage to hold longer. He knows that he can only lose less.

Those who sell and never looked back were maybe the real ones who betted all and fail. They are very disappointed about their selves. The moral in the story here is to have a target. Even if that wasn't huge I prefer it better because it ensures us to earn something than nothing at all.

2double0

legendary

Activity: 2618

Merit: 1105

The most important thing to learn is, not everything is and can be Bitcoin. Bitcoin rose and is still rising because it was the parent coin that first gained the geeks, then came in some casual traders, then some serious traders, retail investors, and finally the institutional investors. This gave rise to the adoption as well as the price of btc as, being one of the biggest networks of the world that is run by a wide community, it had and still has the potential for remaining number 1 till next decade or 2 (and even more).
Btc got the rise because nobody (especially Satoshi) got framed or caught and is still anonymous, but all the newer projects have one thing that they keep for the project (or themselves if they rugpull), and that is marketing funds which they can use to dump the market and keep the value of their token down, so expecting a lot from even the oldest tokens (the example itself by OP) shows that it is big stupidity that a trader commits. Nowadays, we all know that swing traders are making too much profit through their trading, so doing it will make you more than holding for years and waiting to get a fortune and then seeing your investment go in vain.

Mauser

hero member

Activity: 1974

Merit: 534

Quote from: Fivestar4everMVP on September 14, 2023, 05:48:53 AM

The big lesson here is to never marry a coin, no matter how good you think the project is, be it
Bitcoin
Ethereum
BNB or any other, always take profit.

I fully agree with you, if we are looking at crypto currencies as a form of investments then we shouldn't be too emotional attached to the projects. It's one thing to invest in a project because we like the idea, want to support it and hope for the longterm success of it. And something completely different if we are looking at crypto currencies as a form of investment to make a profit. For anybody still new to the crypto community and that doesn't have any big returns yet with his coins it could lead to a big problem sticking with a project even if there are many indicators recommending to sell. For the early investors that hold bitcoins for several years this is not really an issue. In case you bought bitcoins below 10,000 USD, then you don't worry so much if the price is at 20k or 25k USD. Taking profits in your trades is a good way to protect us from down swings. Because we can use the profits and invest it into a different project. Spreading out our money is a good way to protect us from future down swings.

Topic: Never Marry a Coin/Project - Practically Example - page 2. (Read 653 times)