Did your ankles get broken by cryptos?
Did your ankles get broken by cryptos?
If you Agree or Disagree with what I'm writing about leave me a comment below.
Disclosure: I am long BTC, XRP. Looking to add XEM.
Prices went up and then back down again. Why???
Know what?
IT DOESN'T MATTER.
What matters is to know what your strategy is.
If you're worried about getting burned → don't play with fire.
Jumping in and out of markets— without a plan— is how you get burned.
no plan = 🔥🔥🔥
Have a strategy and stick with it.
It's pretty simple, really.
You gotta' decide what kind of investor you want to be:
BUY-AND-HOLD
Buy cryptos and hold on until you can't anymore.
This strategy is good if you don't wanna' worry about the day-to-day prices.
SHORT-TERM-GAINS
Learn how to read markets and act quickly.
This strategy is good if you want to take control and use the day-to-day prices.
The worst strategy is just reacting.
Losing your cryptos to trading fees or trying to second guess prices without a plan is a loser's game.
Our first rule is "Don't be a loser."
Winners put ZEROS ...after #1 (yourself)
1,000,000←Losers put ZEROS ...before #1 (yourself)
→0.000001
Don't just react...
Have a game plan and STICK TO IT.
Now let's do a quick check to find out what style of investor you are...
Let's look at this simple chart of 5 cryptos
(Top 5 based on Market Cap by Circulating Supply)
Hmmm...
Down, down, down, down and yep! down, again.
I called this result yesterday, but some people got hurt by not doing their homework.
Sooooooo...
Based on this small list of crypto coins, WHAT WOULD YOU DO if you were a day one noob?
BUY or STAY OUT?
#1 | Bitcoin Down 3.37%
#2 | Ethereum Down 10.67%
#3 | Ripple Down 7.70%
#4 | Litecoin Down 6.83%
#5 | Ethereum Classic Down 3.97%
If you picked BUY for any of these, you might be a BUY-AND-HOLD investor.
If you picked STAY OUT, you might be a SHORT-TERM-GAINS investor.
Of course, you can be a mix of both, but the important thing is to know what feels right for you.
Know your style, develop your style and stick with it.
Thanks for reading,
-The Nagus
All data from https://coinmarketcap.com/
I don’t own any of these images.
This isn’t advice. Just what I’m doing or considering.
Go sue someone else.