Thanks Haejin, newbies like me need to read stuff like this!
I was excited yesterday when I watched quite a few of my Alts jump, almost sold some early then told myself to be patient! then when I got up few hours back felt my stomach dropped a bit, however I keep telling myself when it goes up it will almost always correct and to be calm as you say.
I am holding atm..Your information is priceless and helping us through these times, until its time to reap some MASSIVE profits.. ;)
I wish you MASSIVE profits!!
Thank you Sir! I'll be sending you a tip when that beautiful day arrives!
I feel You man. It's empowering to see all of You saying "it's ok", "christmas sale" and don't get me wrong, I believe all of it. But still, days like today make me hate alts. Strong word, I know, but my attitude towards alts is deteriorating with time and now I officially hate them :-))
It doesn't change a fact that I'm still hodling and will hodl.
What made me super angry today is watching.... again.... like always.... army of kids, hiding behind big mommy's skirt, running TERRIFIED when mommy does something other than walking up the street slowly. When mommy stops for a second to sneeze, their eyes become HUGE and filled with terror. Same second or maybe even before mommy rapidly inhales, they RUN back down.
When mommy takes two steps back to talk to a friend... children become pale and RUN back down.
When mommy takes a brief pause in her walk just to tie her shoelace.... children, almost all of them, soil their pants and RUN down, leaving only stinky footprints.
After each situation like this they try to catch up with mommy, but not before they're SURE she's going back up slowly.
Sometimes mommy decides to run up. Ordinary child would love it and run next to her. Not those. The only thing that doesn't terrify them is SLOW walk up. Running up is soooo scary that they just have to RUN down, damned brats.
I'm hodling ONLY because I believe one day they'll get a bit more mature and understand their existence is so much more than holding hem of mommy's dress.
"Invest in youth" I thought 4 months back. Thought I'm betting on adolescent and talented youngsters. Up until now they're more like bunch of not so bright 3 year olds. Bah.
You have already won the battle by staying in the game. And don't mistake....the Devs at these things aren't just some kids....they're making millions for themselves and for others savvy enough to anticipate mommy's moves.
Thanks. You're right, people savvy enough to anticipate where BTC will move, can make millions on alts which are BTC's shadows, smaller, more fearful shadows.
Problem is I just hodl. I will surely sell when it looks like there's huge and longer term correction coming. Other than that, I hodl.
And what I meant by my previous reply is that this tactic (pure hodling) seems to hardly work for diversified portfolio of alts (I got ETHOS, XVG, STEEM, BTS, CVC and IOP).
My long term understanding of this market is: BTC+BCH and ETH are more or less the only players for now. The rest is just extremely long tail of prospective or nonsense products.
I invest in prospective ones (in my oppinion) with strong community behind them. I believe sooner than later their products will get huge appreciation and 90% of the long tail will be chopped.
The thing that's extremely frustrating is that for some many months now, it would be so much better if I were just 100% BTC. Almost each week my portfolio loses significant value in BTC.
Each week community is pumped up by new alt success story. Now it's Cardano, before it was Vertcoin etc. Even situations like this don't change a fact that alts as a group, even if You consider only top 100, are being outperformed by BTC, at least for last 6 months.
It may change and I strongly believe it will at some point. That's why I'm still hodling, but emotionally it costs A LOT.
I feel ya. It took some time to learn that the best earner overall is always going to be BTC....well maybe not always, but for now. I think if you keep holding the right coins, you will reap the rewards, but it will require a great deal of patience. A good practice is to remove your money from the market if you are truly planning on holding it for a long period of time. Keep it in a safe wallet instead, and then it forces you to take a lot more action if you get the urge to jump ship.