It's a good thing not to panic when the markets crash and this time was no exception. The markets are bouncing back up.
Ethereum, for example, is already up $80 from it's 24h low. (it's $280 now, from low $204). I'm happy because I sold part of my Ethereum @ $365. But I'm assuming there are also people that panicked and sold @ $204 and have some regrets now.
These swings are so big that it's impossible to time for most.
It's not sure yet if this correction will keep going. So if you were thinking of taking some profits, I guess this is a good time to take some of it.
Personally, I can now sit and watch what the direction will be because the money from the Ethereum sell is in fiat. I have all the time in the world.
Most of my other crypto portfolio is in steempower so I have no choice but to ride that wave.
Daytrading and Long-term holding are two different animals. The one I find stressful and time-consuming (but you miss the high of a good trade). The other is very relaxing if you don't need the money. (or willing to lose it).
I talk about more in my vlog.
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Great explanation of the differences between trading and long term investing. I've heard the term "crash" referenced so much these last few days. I just shake my head. It's a correction, not a crash. The correction was much needed to find fair market value and was/is a healthy thing to promote long term growth.
I too have been trying to find a definitive answer as to why the payout prices are going down. I found a post from last year that stated that with only so much Steem being released on a daily basis for rewards, that if the number of upvotes exceeds this amount in potential payouts, it will readjust all previous upvote amounts to balance this out. It's perfectly logical and makes sense, don't know if it's correct or not. As for why our voting power is decreasing daily, I think you're right, it might be pegged to the price of Steem. Only time will tell. Great vlog as always. Have a great day!
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People will always panic sell, its just how things are
when people read things online or hear things from other people it causes confusion in the market
the worst is when people who have JUST gotten into cryptos panic sell EVERYTHING that they have, especially if they are a large level investor, it destroys it for everyone because that causes prices to plummit
but, im a long term holder, theres no doubt in my mind these coins will continue going up, there just needs to be less people jumping on ship looking for quick profits
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It's usually a snowball effect once the panic sets in but like you I'm also a firm believer in crypto (and especially STEEM).
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That is so true. It is difficult to daytrade if you're emotional person. If you start losing money, you'll end up getting angry and you'll want to redeem yourself. You'll react under emotions which is almost always wrong if you want to make a logical decision and you'll end up losing even more. That is the only reason IMHO why daytrading is difficult.
Good video, keep up the good work.
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Thank you for your nice reply!
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You're welcome. Thank you for the tip :)
I only know the struggle because I've tried it. It didn't quite work for me few years ago. I've learned the hard way. I know the theory and I know the basics, but emotions, curiosity and eagerness to prove to yourself that you can do it right now and that you don't need more time, or practice will often, if not always work against you.
But yeah, daytrading is for people who can detach themselves from emotions.
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If you only focus on 1 cryptocurrency (Steem) your mind stays clear but some might have the good old FOMO. I put everything in SteemPower so I can enjoy a good bbq while the waves fluctuate between very high and ultimate lows!
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Putting it in Steempower is a very wise choice!
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Hey that's me! I sold all at 110. Damn :(
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Aaa man! I hope you still made a nice profit!
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Actually no.. But I diversify a LOT. So not so bad, lost 5-10% of portfolio.
A reminder to HODL next time :D
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If things aren't clean, everything suddenly becomes very hard to focus on other task for me personally. I've been holding onto ETH since $10, pretty good trade so far. Happy green day!
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The last time I bought ETH it was $14.
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Nice video. Day trading whit the cryptocurrencies are very hard, because of huge swings and it is not for average investor, specially if you can not control emotions.
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I think I will hold my tokens long, great tip on needing to just pick what you do. On cleaning up, the hardest things for me is luandry and dishes. Dishes I'm getting better by cleaning as soon as my meal or snack is finished. It takes seconds but I still find the laziness creeping in. The laundry is getting better. I now can pile it all in one pile but procrastinating the haul to the washer can warrant smells. Getting better and needing to learn to clean regularly is exactly right, for me anyways.
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It is best to keep hold of what you have now. I this Morning wrote a post About what I did wrong last time bitcoin went to 200 usd.. take it easy And wait, have faith!
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Read it. Nice story!
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Naaaah, it's better to clean all at once. Work actions ;)
I bet you took camera so u don't have to start at once ;)
Nice vlog as always, keep up the good work!!!
Zie je later
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Thank you! (and yes I did try to postpone the inevitable)
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I knew it, that's the spirit ;)
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I was lucky enough to buy more Ethereum at this recent drop and bought at $219, some good gains in just a few day. Thanks the the post.
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That's a good buy! Congrats!
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Now stop replying to people and go clean the house!! =P
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With locked up Steem (in SP) you're always gona take the right side of the trade (for the comming years)!
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Yeah, day trading gets you into panic mode quicker but when you've got no pressure and hold a little longer you'll just smile at the upswing when it finally kicks in. 😀
Finding that sweet balance between the two proves elusive for now, to me at least 😁
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patience is the key for everything.Let the time pass and wonders will happen.
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Cleaning is so annoying, I'd rother read posts on steemit. This is a good one!
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I have the same problem with cleaning. In a week everything looks like I never cleaned :)
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True, It's a good thing not to panic when the markets crash.
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Great advice, however sometimes it's so hard not to panic sell. Even when you have a lot of hope for the future of crypto, the temptation to sell out of panic on a low can be pretty intense because nobody wants to lose money. Great post!
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Everyone is speculating that BTC is in this bubble and that it will have a quick 1 day crash down to ~$600. I don't know how true this is but it seems like everytime markets dip they recover and start going up.
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good vlog
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"Blablabla" :D
That's so true about trading. But even if you're a long time holder, sometimes there is a good obvious opening where you can predict the direction of the graph and get some more profits..
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Up until 2001 when all the high tech stocks crashed, I liked to day trade with the high risk stocks. Now, I prefer a balanced, longer term investment strategy.
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Sometimes it's so hard not to panic sell.
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Daytrading is too time -consuming.
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I agree you can't be both daytrader and a long term holder.
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Honestly, I guess if you know what your downsides are and you simply just take care of them, I'm quite sure you'll be fine. If you can afford to hold forever, then there's no need to panic!
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I can understand since the price of steem is going down the payouts are decreasing. But the question that comes to my mind is the payouts are in SBD and SBD went up how come it did not neutralize the fall ?? What do you think??
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Hi @exyle I like your daily updates.
If you day trade you can just set lowes and traps and don't look at any chart at all, just once or twice a day..
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Do you have anything to say about the fact that in the history of modern investing prior to Cryptocurrency, less than 1% of traders were able to many ANY profit versus long-term holding on a 30 year scale?
Feels to me like all these day traders are just taking advantage of a market that has grown 1000+% in half a year... and will have some tough lessons to learn when things aren't so easy.
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BTC hit a low of $2,291 yesterday now it's up to $2,535. Like I said yesterday, get greedy when everyone is scared! Smart man, never panic with the sheep.
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Good thoughts. I think that you need to believe in development, and not to hurry.
Everything will be fine!
You need to be sure of VICTORY.
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Great post thanks
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I think it is never a wise thing to sell your stocks below your cost price because sooner or later they will overcome and be above the cost price .
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Yes the amount of steem and sbd hasn't changed on our pending payouts and voting just the value of it in usd.
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I read that if you clean 15 minutes every day, then everything stays clean.
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Long term holding
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