You must have been seeing the prices of the whole crypto markets and its has been going down really bad. A lot of people are selling their coins and following the herds and this is also known as Emotional Trading. Emotions take over the thinking power and tend to make us fear about buying at this point and forces us to sell our holdings to bear less loss. If you are a long term trader then you are are probably doing it all wrong. The quick selling and buying only done by the day traders and swing traders because they don't have that long term amount of time to bear that kind of loss.
If you are a trader and not buying coins right now then you are going to regret this time and will hope that if you would have purchased it. There is a very cool saying that you need to fear when others are greedy and you need to be greedy when others are in fear. If you look at all the charts then you will know nearly all of the coins are falling because of the bitcoin price fall. Bitcoin is like the King of the crypto and you need to understand that all of the cryptos will be rising only if the bitcoin is stable.
Chris Dunn, one of a famous independent trader, can teach a lot about when to buy and when not. Just have a look at the video...
If you are looking to make some big money then you should definitely learn about trading cryptos. It is going to make you hell lot of rich. It doesn't matter what your background is, only thing is do you have enough courage to take it up and learn. If you want to be a successful trader then you you need to follow the smart money instead of the dumb money. The last thing is, only invest what you can afford to lose.
It's time for some MUSIC
Interested.. This philosophy i heard in my childhod once that we should buy when rates are down n sell when high.. This is famous in our family regarding gold shoping.. But it was not in my mind that same is here with cryptoes
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You're so nice for commenting on this post. For that, I gave you a vote!
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Thanx for this
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Only invest what you can lose, because you stand to gain more if it yields profit. Risks are something we can't avoid taking in life. Bitcoin is really the king of crypto, even though others have joined the market. It just needs to stable more often.
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You got it.
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Haha Its bloody red, I dont wanna check coinmarketcap, but I can't help but check every minute hahaha but I will still HODL!
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LoLx... But you need to master the psychology of trading to be a master of it.
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It's going down badly.
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It is better to buy at low price instead of buying it at lowest price.
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It takes patience, that's for sure. You're in a good spot if your standard of living does not depend upon your crypto holdings: you can pull back and ask yourself, "what did I really lose?" Keeping perspective reduces your fear.
Even if crypto is going into a real bear market, so what? It did so in '14 and '15, and presented a huge buying opportunity in those years. You could have loaded up on Bitcoin, month after month, and wound up with an average price of below $500. If you were lucky enough to start a monthly buying program on Jan 1st 2015 and continued until Jan. 1, 2017, you bought most of your Bitcoin below $500.
If the above lights your fire, check out dollar-cost averaging. (DCA) But I do suggest not firing up a DCA plan unless the slump lasts for months.
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I get your point. That's why we should invest with care and not put all eggs at one place. Thank you for your suggestions and guidance. Appreciate it.
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Stay away from your coin portfolio app/dashboard for now. HODL and try to increase holdings but buying more on dip (only those coins whom you have been eyeing on).
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You got it.
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