Before every purchase I'm asking myself, can I afford to lose this money.
Now obviously no one wants to lose money, but some losses are more "affordable" than others.
Also, I think if I invested more than I could afford to lose and the market turned Bearish, I'd be a lot more stressed and would probably be rushing to sell off to stop loss.
As it stands I just ride the waves.
I'm convinced that over time, as word spreads and this all becomes more main stream, the added influx of investors will push many currencies up.
Better to HODL than sell at a loss to only have to buy back in at a more expensive price later.
Many wonderful points! :) I think a buy and hold will be very rewarding over time! Also I think it is a great rule to never invest more than you can lose, because at the end of the day this is all speculative anyway. I think people that don't know enough about the underlying cryptocurrencies/ don't have a long term time horizon need to be wary buying in now, because we could easily move much lower. For long term holders it is probably best to not even watch the price action haha
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