Topic: WHAT KEEPS YOU SANE IN THESE CRYPTO BLOODBATHS? (Read 910 times)
This is a pretty nice list you know. Might be useful. And what keeps me sane? My faith in the good future. I believe that bad time will pass and it keeps me here.
That your first point in particular is what makes me sane. See, one thing is to be investing in a space and the other is to have all the necessary knowledge you need to make the best of it. Knowledge guides us in most part of it and most especially the knowledge of making trading decisions. Bloodbath to me since I learned how to trade effectively, seems more like an opportunity than a problem if you know what I mean. With learning, persistence and good experience, it is always worth it at the end.
However, for those who may find it hard, I guess just sticking with the idea of investing what you can afford to lose to at least douse any unnecessary emotional stress, and keep holding for as long as you want to is the best bet. At least, those were my moves until I found out a better way to take advantage of the market fluctuations.
However, for those who may find it hard, I guess just sticking with the idea of investing what you can afford to lose to at least douse any unnecessary emotional stress, and keep holding for as long as you want to is the best bet. At least, those were my moves until I found out a better way to take advantage of the market fluctuations.
This is a very informative response. I can't say that I am that knowledgeable in trading yet but I agree with all the points you mentioned.
I have simple way of investing in cryptocurrency. I invest only some part of my savings in Cryptocurrency and whenever price go more lower, I buy more. I have sold any coin at loss before. Rather than doing so, I add more to it.
One of my ugliest experience and seems to be my biggest regret is the fact that some of the coins I have were once upto 2X higher that their ICO price but I refuse to sell and now they are about 5X lower than their ICO price. Although I have not give up on them because of long term holding mentality that I have.
- Risk management
- belief that crypto is something of value and it is just the beginning
- old charts showing how many times BTC was dead
- belief that crypto is something of value and it is just the beginning
- old charts showing how many times BTC was dead
I laughed at the "how many times BTC was dead"
Yeah, looking at the BTC's history, it can be easily seen that it's far better than where it was before and I also think it hasn't reached it's full potential yet due to these bans and regulations.
- Risk management
- belief that crypto is something of value and it is just the beginning
- old charts showing how many times BTC was dead
- belief that crypto is something of value and it is just the beginning
- old charts showing how many times BTC was dead
What keep me sane when a bloodbath, and peoples panics happen is to buy
Yes, those who made the right calls are pretty sane and really excited during crypto bloodbaths since they can buy undervalued coins/tokens.
In crypto trading you either hodl or sell. But like other experts says if your not fund of holding then don't expect to be rich. Rich people has long term mindset and actually they buy cryptos when opportunity knocks off
A friend of mine told me that when they started crypto business or investment, having as little as $1 reward was like winning a Grammy award. so that type of individual is not bothered about the red market because in their very eyes, those coins that was less than a dollar or even up to a dollar has multiply over the years to even thousands and millions of dollars. those who gave up are the ones that loss but for him and few others that stayed, they have experience to share and have all the knowledge to guide us in patience. He advises us all the time to invest during down-tides and he is not afraid of anything you throw at him in crypto. He has paid the price. I follow same. Whatever goes down will always come up. According to an African saying, "there is nothing you will eat that your hand will stay permanent in your mouth" Somewhere somehow, things will fall into pleasant places.
Wow! Strong hands there. You are lucky to have a friend who has thru maybe the worst of times in crypto and giving you some advise.
I think this an important advice but some of them is not too correct in my opinion, like holding until grave or moon, a traders supposed to be having a buy and sell limit, and you can become expert by building experience, the most important thing to keep you insane is always invest the money that you can afford to lose, crypto investment is very risky, people need to understand this before invest
Thanks! Great tips.
On hodl until moon or grave is referring to the tokens you plan to keep for long term, not those you plan to trade soon. Atleast that's how I understand it.
A friend of mine told me that when they started crypto business or investment, having as little as $1 reward was like winning a Grammy award. so that type of individual is not bothered about the red market because in their very eyes, those coins that was less than a dollar or even up to a dollar has multiply over the years to even thousands and millions of dollars. those who gave up are the ones that loss but for him and few others that stayed, they have experience to share and have all the knowledge to guide us in patience. He advises us all the time to invest during down-tides and he is not afraid of anything you throw at him in crypto. He has paid the price. I follow same. Whatever goes down will always come up. According to an African saying, "there is nothing you will eat that your hand will stay permanent in your mouth" Somewhere somehow, things will fall into pleasant places.
I think this an important advice but some of them is not too correct in my opinion, like holding until grave or moon, a traders supposed to be having a buy and sell limit, and you can become expert by building experience, the most important thing to keep you insane is always invest the money that you can afford to lose, crypto investment is very risky, people need to understand this before invest
The key is to look at the long term outlook, don't expect to get rich after just a few weeks of trading. It will take a long time to build up a nice portfolio keeping the ones that are worth hodling and dumping the rest. If you're not a pro, don't check prices everyday. You'll get down from the red candles and these are common in every coin
Great List! These guidelines should be the ten commandments in cryptocurrency investing and trading. My favorite on that list would be number eight. It is important to understand that.
These 10 guides have kept me sane. I am lucky enough to have read them when I was starting in crypto. I believe new bloods in crypto should read and understand this.
1. Commit yourself to becoming an expert in all aspects of cryptocurrency (mining, fundamental & technical analysis, etc.)
2. Only invest what you can afford to lose, and be okay with the fact that you might lose it all.
3. Learn/Experience altcoin bubbles & herd behavior. Remove your emotions from the process.
4. You can't be correct 100% of the time. Expect to lose sometimes. It's about optimizing your percentages, not perfection.
5. Always keep your mind set on the end goal (no more salary/slavery) and focus on how to achieve that.
6. Become a master of reviewing altcoins, learn how to spot a scam so that its almost instant when you look at a shitcoin.
7. Diversify into as many quality altcoins as you can. That way you can experience market bubbles thousands of times over. If you hold all the coins and accumulated them for cheap, you've lowered your risk and win every time there's pump.
8. You must understand the time dimension. All losses/profits are temporary until you've made the trade. All altcoins are related but on their own market cycle. Most of your coins are winners but u need the patience to wait for the right time to make each trade.
9. HODL until moon or grave. Store your top cryptocurrencies for long term gains. You need strong hands to hodl through shakeouts.
10. Find or create a group of like minded individuals to share your research and investment ideas with.
1. Commit yourself to becoming an expert in all aspects of cryptocurrency (mining, fundamental & technical analysis, etc.)
2. Only invest what you can afford to lose, and be okay with the fact that you might lose it all.
3. Learn/Experience altcoin bubbles & herd behavior. Remove your emotions from the process.
4. You can't be correct 100% of the time. Expect to lose sometimes. It's about optimizing your percentages, not perfection.
5. Always keep your mind set on the end goal (no more salary/slavery) and focus on how to achieve that.
6. Become a master of reviewing altcoins, learn how to spot a scam so that its almost instant when you look at a shitcoin.
7. Diversify into as many quality altcoins as you can. That way you can experience market bubbles thousands of times over. If you hold all the coins and accumulated them for cheap, you've lowered your risk and win every time there's pump.
8. You must understand the time dimension. All losses/profits are temporary until you've made the trade. All altcoins are related but on their own market cycle. Most of your coins are winners but u need the patience to wait for the right time to make each trade.
9. HODL until moon or grave. Store your top cryptocurrencies for long term gains. You need strong hands to hodl through shakeouts.
10. Find or create a group of like minded individuals to share your research and investment ideas with.
Those all things are good, but take my advice,
Invest and leave it, find something else to keep you busy, get a life, learn something new, expand your skill set. Just observing market all day will not make any difference, going outside meeting people will create a connection and you can learn something new.
Ideally, this is the best. For people who are just starting in crypto, it is difficult to tell them to just leave it. They are more prone to mistakes in choosing where and what to invest into.
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the Dealjoy Matchmaking Algorithm (DMA) which utilizes machine learning and customer preferences to create a customer-specific stream of interesting daily changing deals. These specific deals are obtained directly from the collaborating vendors and will offer our users even higher cashback rates. This will surely attract more consumers to platform and will increase the token price benefiting the early investors
As for me what has kept me sane in this crypto bloodbath is that i participate in bounties and airdrops, so i am using bounties and airdrops to build up my falling cryptos asset, the more my cryptos asset goes down, the more i bring it up with my bounty rewards
I try to make money with ways except trading/holding etc. I think if you trade you would lose sometimes that's not bad. But you trade not stocks but shit tokens so there is very high risk.
The hope that the prices will eventually rise after every bloodbath is what keeps me sane, it helps me keep my emotions in check and avoid panic sales at loses
I'm not in loss.
The amount I've deposited from fiat has not decreased from its initial average. i.e. my coin value are more than for what I bought them for.
You should know when to buy and when to sell if you want to have a profit from crypto. Now it's a buying time.
The amount I've deposited from fiat has not decreased from its initial average. i.e. my coin value are more than for what I bought them for.
You should know when to buy and when to sell if you want to have a profit from crypto. Now it's a buying time.
I will say what have kept me going in this crypto bloodbaths is that i am still new in the crypto space, so I don't have anything to lose, I don't even own any single tokens for now, I am just starting bounty newly to see if i can earn my first tokens
These 10 guides have kept me sane. I am lucky enough to have read them when I was starting in crypto. I believe new bloods in crypto should read and understand this.
1. Commit yourself to becoming an expert in all aspects of cryptocurrency (mining, fundamental & technical analysis, etc.)
2. Only invest what you can afford to lose, and be okay with the fact that you might lose it all.
3. Learn/Experience altcoin bubbles & herd behavior. Remove your emotions from the process.
4. You can't be correct 100% of the time. Expect to lose sometimes. It's about optimizing your percentages, not perfection.
5. Always keep your mind set on the end goal (no more salary/slavery) and focus on how to achieve that.
6. Become a master of reviewing altcoins, learn how to spot a scam so that its almost instant when you look at a shitcoin.
7. Diversify into as many quality altcoins as you can. That way you can experience market bubbles thousands of times over. If you hold all the coins and accumulated them for cheap, you've lowered your risk and win every time there's pump.
8. You must understand the time dimension. All losses/profits are temporary until you've made the trade. All altcoins are related but on their own market cycle. Most of your coins are winners but u need the patience to wait for the right time to make each trade.
9. HODL until moon or grave. Store your top cryptocurrencies for long term gains. You need strong hands to hodl through shakeouts.
10. Find or create a group of like minded individuals to share your research and investment ideas with.
1. Commit yourself to becoming an expert in all aspects of cryptocurrency (mining, fundamental & technical analysis, etc.)
2. Only invest what you can afford to lose, and be okay with the fact that you might lose it all.
3. Learn/Experience altcoin bubbles & herd behavior. Remove your emotions from the process.
4. You can't be correct 100% of the time. Expect to lose sometimes. It's about optimizing your percentages, not perfection.
5. Always keep your mind set on the end goal (no more salary/slavery) and focus on how to achieve that.
6. Become a master of reviewing altcoins, learn how to spot a scam so that its almost instant when you look at a shitcoin.
7. Diversify into as many quality altcoins as you can. That way you can experience market bubbles thousands of times over. If you hold all the coins and accumulated them for cheap, you've lowered your risk and win every time there's pump.
8. You must understand the time dimension. All losses/profits are temporary until you've made the trade. All altcoins are related but on their own market cycle. Most of your coins are winners but u need the patience to wait for the right time to make each trade.
9. HODL until moon or grave. Store your top cryptocurrencies for long term gains. You need strong hands to hodl through shakeouts.
10. Find or create a group of like minded individuals to share your research and investment ideas with.
The points you list out is a good guideline for newbies and users that is already in the crypto world. However the main factor that keep me from moving on is the confidence of crypto future that drive me to continue my crypto journey.
For new blood I would recommend to start trading or investing with small amount of money just to understand the money making mechanism. Good luck.
The risk of trading on a falling trend seems to me very large. Of course, if you have steel eggs, and traders are usually steel, then you can trade in this market, I'm an ordinary person and I do not have them. So I'm just waiting.
For me what have kept me sane in these crypto bloodbaths is that i am into crypto currency for a long term hodl, so it doesn't matter what the price is at the moment, I have set my goals for a long term, like in 2 - 5 years.
Cryptocurrency is not for the fainthearted as any day can drive anybody crazy. With its well-known volatility one can experience great gains in just matters of hours or big loss in a brink of one eye (so to speak). That is why learning more and understanding more the crypto market can be the big key to calm our edging nerves so we can easily sleep when it is time to sleep regardless of the current market situation. I agree that we don't have to be perfect when dealing with this market the bottomline is we are doing our best and that we are realizing some profits somehow. We should also learn to spotlight scams in this industry and scams are increasing its presence here day in day out. I think scammers from other industries are now transferring to cryptocurrency and ICOs.
For new blood I would recommend to start trading or investing with small amount of money just to understand the money making mechanism. Good luck.
Who told you we are still sane after this times?
I think i am in a new level of insanity. I don't feel a thing while loosing thousands of dollars in a day. I don't think this is normal.
I think i am in a new level of insanity. I don't feel a thing while loosing thousands of dollars in a day. I don't think this is normal.
Very good advice that must be observed. Cryptocurrency can be simple, interesting and extremely financially profitable. I also think that one should not rush, pursue the latest trend, buying cryptocurrency at an artificially high price.
What keep me sane when a bloodbath, and peoples panics happen is to buy
These 10 guides have kept me sane. I am lucky enough to have read them when I was starting in crypto. I believe new bloods in crypto should read and understand this.
1. Commit yourself to becoming an expert in all aspects of cryptocurrency (mining, fundamental & technical analysis, etc.)
2. Only invest what you can afford to lose, and be okay with the fact that you might lose it all.
3. Learn/Experience altcoin bubbles & herd behavior. Remove your emotions from the process.
4. You can't be correct 100% of the time. Expect to lose sometimes. It's about optimizing your percentages, not perfection.
5. Always keep your mind set on the end goal (no more salary/slavery) and focus on how to achieve that.
6. Become a master of reviewing altcoins, learn how to spot a scam so that its almost instant when you look at a shitcoin.
7. Diversify into as many quality altcoins as you can. That way you can experience market bubbles thousands of times over. If you hold all the coins and accumulated them for cheap, you've lowered your risk and win every time there's pump.
8. You must understand the time dimension. All losses/profits are temporary until you've made the trade. All altcoins are related but on their own market cycle. Most of your coins are winners but u need the patience to wait for the right time to make each trade.
9. HODL until moon or grave. Store your top cryptocurrencies for long term gains. You need strong hands to hodl through shakeouts.
10. Find or create a group of like minded individuals to share your research and investment ideas with.
1. Commit yourself to becoming an expert in all aspects of cryptocurrency (mining, fundamental & technical analysis, etc.)
2. Only invest what you can afford to lose, and be okay with the fact that you might lose it all.
3. Learn/Experience altcoin bubbles & herd behavior. Remove your emotions from the process.
4. You can't be correct 100% of the time. Expect to lose sometimes. It's about optimizing your percentages, not perfection.
5. Always keep your mind set on the end goal (no more salary/slavery) and focus on how to achieve that.
6. Become a master of reviewing altcoins, learn how to spot a scam so that its almost instant when you look at a shitcoin.
7. Diversify into as many quality altcoins as you can. That way you can experience market bubbles thousands of times over. If you hold all the coins and accumulated them for cheap, you've lowered your risk and win every time there's pump.
8. You must understand the time dimension. All losses/profits are temporary until you've made the trade. All altcoins are related but on their own market cycle. Most of your coins are winners but u need the patience to wait for the right time to make each trade.
9. HODL until moon or grave. Store your top cryptocurrencies for long term gains. You need strong hands to hodl through shakeouts.
10. Find or create a group of like minded individuals to share your research and investment ideas with.
This really inspired me. Thank you for sharing it. What has kept me in sane is that this crypto market conditions is only just happening for the first time, It has gone through this conditions many time and survive. And i know the HODLERs are the winner at the end of the day.
I agree with you. I also think if anyone makes up his mind for investment he should also keep in mind that the crypto market is volatile so he should invest what he can get back if he lose it
Very beneficial post. You have said it right before coming to cryptocurrency and investment. A crypto user must analysis about mining, transaction , market price properly. Otherwise it is not wise to get involved here.
Thanks for the article. Having a proper goal and staying stuck to that is very essential as investors to make profits in crypto currency. But before everything doing research on it is must and having patience too.
The major thong that keeps my sanity is the fact that I have always been aware that there will be a moment like this and that it will also pass away.
Thanks for this wonderful guide, I am implementing just a few of them and after reading your post i find more to implement, I wish all the members of the forum will get to see this post and learn a few things from it. it will really help some people.
This does seem like a useful guide for the people to really keep their sanity intact during these times. It is highly believed that the entire process to strategize the plan is the main adrenaline rush and what keeps the users hooked, despite the risks associated in the market.
You have given very effective advice. I think every crypto people should follow these suggestions. Before investing in the crypto market, we have to study more about this. Knowledge and skill will take you to a good place.
Would agree with most of the above, just to add the old trading adage about not putting in more than you're willing to lose. New investors may take this with a pinch of salt but, speaking from experience, it's probably the biggest advice to give a newbie.
These 10 guides have kept me sane. I am lucky enough to have read them when I was starting in crypto. I believe new bloods in crypto should read and understand this.
1. Commit yourself to becoming an expert in all aspects of cryptocurrency (mining, fundamental & technical analysis, etc.)
2. Only invest what you can afford to lose, and be okay with the fact that you might lose it all.
3. Learn/Experience altcoin bubbles & herd behavior. Remove your emotions from the process.
4. You can't be correct 100% of the time. Expect to lose sometimes. It's about optimizing your percentages, not perfection.
5. Always keep your mind set on the end goal (no more salary/slavery) and focus on how to achieve that.
6. Become a master of reviewing altcoins, learn how to spot a scam so that its almost instant when you look at a shitcoin.
7. Diversify into as many quality altcoins as you can. That way you can experience market bubbles thousands of times over. If you hold all the coins and accumulated them for cheap, you've lowered your risk and win every time there's pump.
8. You must understand the time dimension. All losses/profits are temporary until you've made the trade. All altcoins are related but on their own market cycle. Most of your coins are winners but u need the patience to wait for the right time to make each trade.
9. HODL until moon or grave. Store your top cryptocurrencies for long term gains. You need strong hands to hodl through shakeouts.
10. Find or create a group of like minded individuals to share your research and investment ideas with.
1. Commit yourself to becoming an expert in all aspects of cryptocurrency (mining, fundamental & technical analysis, etc.)
2. Only invest what you can afford to lose, and be okay with the fact that you might lose it all.
3. Learn/Experience altcoin bubbles & herd behavior. Remove your emotions from the process.
4. You can't be correct 100% of the time. Expect to lose sometimes. It's about optimizing your percentages, not perfection.
5. Always keep your mind set on the end goal (no more salary/slavery) and focus on how to achieve that.
6. Become a master of reviewing altcoins, learn how to spot a scam so that its almost instant when you look at a shitcoin.
7. Diversify into as many quality altcoins as you can. That way you can experience market bubbles thousands of times over. If you hold all the coins and accumulated them for cheap, you've lowered your risk and win every time there's pump.
8. You must understand the time dimension. All losses/profits are temporary until you've made the trade. All altcoins are related but on their own market cycle. Most of your coins are winners but u need the patience to wait for the right time to make each trade.
9. HODL until moon or grave. Store your top cryptocurrencies for long term gains. You need strong hands to hodl through shakeouts.
10. Find or create a group of like minded individuals to share your research and investment ideas with.
Those all things are good, but take my advice,
Invest and leave it, find something else to keep you busy, get a life, learn something new, expand your skill set. Just observing market all day will not make any difference, going outside meeting people will create a connection and you can learn something new.
These 10 guides have kept me sane. I am lucky enough to have read them when I was starting in crypto. I believe new bloods in crypto should read and understand this.
1. Commit yourself to becoming an expert in all aspects of cryptocurrency (mining, fundamental & technical analysis, etc.)
2. Only invest what you can afford to lose, and be okay with the fact that you might lose it all.
3. Learn/Experience altcoin bubbles & herd behavior. Remove your emotions from the process.
4. You can't be correct 100% of the time. Expect to lose sometimes. It's about optimizing your percentages, not perfection.
5. Always keep your mind set on the end goal (no more salary/slavery) and focus on how to achieve that.
6. Become a master of reviewing altcoins, learn how to spot a scam so that its almost instant when you look at a shitcoin.
7. Diversify into as many quality altcoins as you can. That way you can experience market bubbles thousands of times over. If you hold all the coins and accumulated them for cheap, you've lowered your risk and win every time there's pump.
8. You must understand the time dimension. All losses/profits are temporary until you've made the trade. All altcoins are related but on their own market cycle. Most of your coins are winners but u need the patience to wait for the right time to make each trade.
9. HODL until moon or grave. Store your top cryptocurrencies for long term gains. You need strong hands to hodl through shakeouts.
10. Find or create a group of like minded individuals to share your research and investment ideas with.
1. Commit yourself to becoming an expert in all aspects of cryptocurrency (mining, fundamental & technical analysis, etc.)
2. Only invest what you can afford to lose, and be okay with the fact that you might lose it all.
3. Learn/Experience altcoin bubbles & herd behavior. Remove your emotions from the process.
4. You can't be correct 100% of the time. Expect to lose sometimes. It's about optimizing your percentages, not perfection.
5. Always keep your mind set on the end goal (no more salary/slavery) and focus on how to achieve that.
6. Become a master of reviewing altcoins, learn how to spot a scam so that its almost instant when you look at a shitcoin.
7. Diversify into as many quality altcoins as you can. That way you can experience market bubbles thousands of times over. If you hold all the coins and accumulated them for cheap, you've lowered your risk and win every time there's pump.
8. You must understand the time dimension. All losses/profits are temporary until you've made the trade. All altcoins are related but on their own market cycle. Most of your coins are winners but u need the patience to wait for the right time to make each trade.
9. HODL until moon or grave. Store your top cryptocurrencies for long term gains. You need strong hands to hodl through shakeouts.
10. Find or create a group of like minded individuals to share your research and investment ideas with.
These tips are quite inspirational and is relevant to everyone both new or old cryptocurrency enthusiast. I'm particularly in love with the 9th tip. Which tells us to hodl until moon or grave. Though, this is a very difficult tip considering the market psychology and individuals reaction, but I 100% agree with it.
I think you forgot to add something... Which is eradicating greed... People should learn to always keep some funds in fiat for the dark days...Cryptocurrency is still in its infancy so everyone should be ready for some ups and down.
These 10 guides have kept me sane. I am lucky enough to have read them when I was starting in crypto. I believe new bloods in crypto should read and understand this.
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Or something much easier: Lear to use the stop-loss and contiditional buy orders instead of hdling things that sometime should not be hodled at all. It is an agressive market.
My approach to cryptocurrency has always been to continually take a portion of my savings and allocate it to investments in cryptocurrency. This means that these periods were the price has fallen are simply an opportunity to add to my position at lower prices and reduce my average cost. I can see how if you had invested at the end of 2017 or early 2018 with a substantial sum the current environment might be stressful but you can also start correcting that by investing manageable sums at regular intervals to reduce your average cost and get above water sooner.
Your guides are spot on. I think people who are mentally weak in crypto need to stay strong and emulate your recommendations. It will keep their minds sane during this period of bloody dips
That your first point in particular is what makes me sane. See, one thing is to be investing in a space and the other is to have all the necessary knowledge you need to make the best of it. Knowledge guides us in most part of it and most especially the knowledge of making trading decisions. Bloodbath to me since I learned how to trade effectively, seems more like an opportunity than a problem if you know what I mean. With learning, persistence and good experience, it is always worth it at the end.
However, for those who may find it hard, I guess just sticking with the idea of investing what you can afford to lose to at least douse any unnecessary emotional stress, and keep holding for as long as you want to is the best bet. At least, those were my moves until I found out a better way to take advantage of the market fluctuations.
However, for those who may find it hard, I guess just sticking with the idea of investing what you can afford to lose to at least douse any unnecessary emotional stress, and keep holding for as long as you want to is the best bet. At least, those were my moves until I found out a better way to take advantage of the market fluctuations.
That's a very useful guide for people who easily loses their cool by facing slight loss. To be honest, to keep yourself sane, the best idea is to invest on short period with small amount of money which won't harm your financial situation. In that way, you are minimizing the risk of making a huge loss but can earn few coins if you are profitable.
Being coolheaded in Cryptocurrency can make you an experienced man in this world making a handsome amount of money. Patience, wisdom and learning from your misdeeds help you to gain in this mysterious market. A nice discussion indeed.
These 10 guides have kept me sane. I am lucky enough to have read them when I was starting in crypto. I believe new bloods in crypto should read and understand this.
1. Commit yourself to becoming an expert in all aspects of cryptocurrency (mining, fundamental & technical analysis, etc.)
2. Only invest what you can afford to lose, and be okay with the fact that you might lose it all.
3. Learn/Experience altcoin bubbles & herd behavior. Remove your emotions from the process.
4. You can't be correct 100% of the time. Expect to lose sometimes. It's about optimizing your percentages, not perfection.
5. Always keep your mind set on the end goal (no more salary/slavery) and focus on how to achieve that.
6. Become a master of reviewing altcoins, learn how to spot a scam so that its almost instant when you look at a shitcoin.
7. Diversify into as many quality altcoins as you can. That way you can experience market bubbles thousands of times over. If you hold all the coins and accumulated them for cheap, you've lowered your risk and win every time there's pump.
8. You must understand the time dimension. All losses/profits are temporary until you've made the trade. All altcoins are related but on their own market cycle. Most of your coins are winners but u need the patience to wait for the right time to make each trade.
9. HODL until moon or grave. Store your top cryptocurrencies for long term gains. You need strong hands to hodl through shakeouts.
10. Find or create a group of like minded individuals to share your research and investment ideas with.
1. Commit yourself to becoming an expert in all aspects of cryptocurrency (mining, fundamental & technical analysis, etc.)
2. Only invest what you can afford to lose, and be okay with the fact that you might lose it all.
3. Learn/Experience altcoin bubbles & herd behavior. Remove your emotions from the process.
4. You can't be correct 100% of the time. Expect to lose sometimes. It's about optimizing your percentages, not perfection.
5. Always keep your mind set on the end goal (no more salary/slavery) and focus on how to achieve that.
6. Become a master of reviewing altcoins, learn how to spot a scam so that its almost instant when you look at a shitcoin.
7. Diversify into as many quality altcoins as you can. That way you can experience market bubbles thousands of times over. If you hold all the coins and accumulated them for cheap, you've lowered your risk and win every time there's pump.
8. You must understand the time dimension. All losses/profits are temporary until you've made the trade. All altcoins are related but on their own market cycle. Most of your coins are winners but u need the patience to wait for the right time to make each trade.
9. HODL until moon or grave. Store your top cryptocurrencies for long term gains. You need strong hands to hodl through shakeouts.
10. Find or create a group of like minded individuals to share your research and investment ideas with.
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