I Believe In Crypto, So I Just Sold Some (feat. Holochain) and TRON
On today’s episode of The Cryptoverse…
I would like to share some things that will greatly improve the quality of your crypto investing decisions.
I mean, that’s what this whole thing boils down to doesn’t it? Making high quality decisions and then acting on them.
The first half of this video will setup some concepts, then the second half will contain how I apply them to my crypto investing.
My intention is to also help you become more flexible this year, because that’s a crucial element of successful investing.
If you listen to what I said to people who interviewed me in 2017 you’ll hear me challenge the notion of HODLing blindly.
“HODL until when?” I kept saying.
“How will you know when to sell?”
These are critical questions we each need to answer individually if we are going to be successful crypto investors.
I have noticed that HODLing became synonymous with one's belief in crypto.
i.e. if you believe in crypto you HODL
My approach is not to adopt either end of the extreme.
I don’t HODL everything
I don’t sell everything
I don’t HODL blindly
I don’t sell blindly
So it is my intention to encourage you to become mentally flexible this year to the point where you can do what is right for you personally…
I mean crypto is all about what individuals are incentivised to do right?
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This video contains gobs of excellent advice. One of my principles is to get into 100% profit positions and lock that in so I'm playing with "house money." Another one is to never sell at a loss, but I realize I'm in the minority there. I'm a huge fan of DCA / Double Down, but because my risk capital is all profit that has previously been gained, I don't have issue with this philosophy.
The current market of crypto still affords a very decent terrain dominated by volatility, so these principles will work for me as long as that is true.
I can see how not selling at a loss might work, but I think it would require an extremely broad portfolio, of more than one asset class (i.e. a lot of non-crypto investments), and would likely require a large number of different investments, across a number of asset classes and sectors.
THanks CC for another educational video. I'm really excited that I delayed buying crypto yesterday. Patience has earned me a 13% savings as of today. Im going to review a few other videos to see get some idea where the market is headed. Since being informed by you and others, I stopped throwing in money while everything is green and fomo, and ive bought the dips, usually when a coins are down over 10% and i continue to hodl coins I have. Your advice over the year has helped me to become wiser and I appreciate it. Thanks again very much CC.
Sure , I agree that having principles and a strategy is a must for who does trading for a living. I still have not found my own set ... Thanks for insisting on its importance.
I'd argue that's one of your most valuable videos to date. There are some core 'principles' that will always appease you psychologically when things don't turn out as expected. If you know you followed your strategies and lost that elicits a significant psychological difference from doing something emotional or on instinct and losing. The latter road most certainly leads to a wailing and gnashing of teeth.
Maybe if everyone meditated before commenting or answered comments on platforms..... There would be less nastiness and negativity..... There are some vile people on YouTube..... If you haven't got anything nice to say.... Don't say anything at all👍
I have noticed that the community and comments are better on Steem-based platforms, in general, than the more standard platforms like YouTube.
Principles are good
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A great reminder to take profits when they are there. HODL not the one and only strategy, as I've learnt, the hard way :-) Lesson, re-assert principles and stick to them!!!
Great headline, and well presented instructive content. These are the episodes I love.
Thank you for sharing your thought process. It would be great for you to add a like to the book referenced.
Excellent post @marketingmonk I watchex the entire video on @dtube and gave it a 100% upvote. 😊👍