So, what are the right things to do when your favorite tokens decrease in value? I have a couple of a favorites, and recently they have been struggling and going through a tough time. What does that mean? Should I panic sell and hope for lower lows and buy more, or should I just get rid of the tokens, because I am afraid I will lose even more if I keep hodling?
There are lots of thoughts that might go through your mind in such situations, but this is also why it is incredibly important to know what you are doing and why you are doing it. Why did I buy those tokens in the first place? Did I buy them just hoping to get rich, or did I buy them because I really have faith in that given project and I believe it is here to stay and that it will bring me more profit and joy also in the future?
I like trading the tokens that I trust in long-term as well, because it is possible to be smart and sell tops and buy more cheaper (with either the goal of taking some profit, or stacking up more). But, I am not going to panic-sell a token that I dearly believe in simply because it drops or some whale dumping or whatever. No, I am hold onto my stack, and possibly, buy even more and invest in the future.
So, you better have a plan for your tokens, and stay away from those tokens you just buy hoping for something, but without really having a clue about what it is about.
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