I sold Mana , bought bcc , got rekd , sold bcc . : (
@haejin Please make a post about how to deal with FOMO and handle emotions in cryptoworld . There are many newbies here like me .
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I sold Mana , bought bcc , got rekd , sold bcc . : (
@haejin Please make a post about how to deal with FOMO and handle emotions in cryptoworld . There are many newbies here like me .
the best way to deal with it is to learn his TA, try to study his tutorials and learn to see patterns and estimate the possibilities. Just see his BTC analysis which is solely based on TA and ignores any news or rumors, to see his technic work has made me a lot calmer and the latest shakings in BTC havent nerved me at all.
another good way to keep cool is to diversify your portfolio. I'm holding at the moment 30%BTC, 30% IOTA and the rest I have spread on many (30+) perspective alts of which many have been recommended by @haejin. This kind of diversification helps not to be to focused on the chart of a few single coins and the average balance grows quit steady. What I'm planning to do as well is when we hit the new wave at BTC is to sell some of my BTC because I see that I should reduce my BTC holdings to max. 20% as there are many alternatives that are way more persepctive.
I wish you best of luck!
Can I ask how you can be tracking 30+ alts? I agree with @barsic in spreading across multiple coins, but 30+?....damnnnnnn!!!
I’m at 16 alts. People just keep giving me money to trade and I just keep buying whatever Haejin or I think will go up. I have 2 blockfolios in my pc now and 1 in my phone. It gets hectic.
blockfolio helps a lot but yes, I'm planning to hold most of them and once a week make a little wrap up. Most of them I'm planning to hold at least 2-3 months anyways.
why you jump in and out so quickly? Goal is to hit your target and then move on. Not jump in and out with no true goal.
I'd say that the number one thing that helps me, other than being aware of the probabilities of up/down movements like haejin prescribes is simply to not have too large a % of your total stack in any one trade.
This is counter-intuitive to everyone (myself included) who likes to see their whole stack increase by 50% on a good trade, but it's nearly impossible to get rid of the FOMO and FUD that accompanies such a large gamble. I find that in the long run I'm more profitable by making an educated decision then sticking with it since I'm no longer worried about losing the shirt off my back the second the trade doesn't go my way.
Of course, methods that increase your ability to hold are more advantageous during bull markets. Unless you're a proficient trader, simply sitting on your stack and not entering the market is a perfectly viable option during bear runs.
edit: A simple reminder from someone who's way better than I am....
https://imgur.com/iz2fctH
It has been very hard so be hugly invested in Steem in the past few months. And seeing BTC climb up all that way.
But this week things are far different. And patience is paying off.
how do you sell immediately and buy another coin?
because what i do is sell, they now put the money in my bank account, I mean, how do you exchange cryptos