This chart is very important in relation to the people who are in the pursuit of the life as a trader. This does not only apply to the crytocurrency however, this applies in stock market as well. I posted this couple years ago on stocktwits.com and this information still applies for the way crytocurrency and stock markets act today. A lot of people have made mistakes such as this so it's important to recognize and learn from them. In regards to steem coin this chart would apply also, so it's very important to hold steem and not sell them because you would miss out on some very good profits. I see the future in steem! There are several reasons for this to be true such as the demand for it by people, as well as a good way for less fortunate or disabled individuals to make good profit. In poor countries people have no opportunity to make money so this gives them a way. In my previous posts i have links and articles discussing which countries use steem the most. That information is very interesting to me because it shows that not only will steem grow it will prosper.
Do not trade HODL!
Successful trading requires one to not be emotionally attached to money, but to be emotionally attached to opportunity. Hell, I should write a blog about it, because too few people are psychologically capable of trading successfully.
@smarthamster, I believe the best route is to consider invested money spent money. That's how I handle it psychologically. If it's spent, then it's already gone. I spent it on an opportunity to accumulate more money, so I'm okay with that.
Keep Steeming you Hooligans!
Fantastic graph with appropriate remarks. I think it is even more important in crypto than in stocks, as people are more familiar with the smaller and less regular fluctuations in price there.
It's a funny chart. I've always heard that an 8% loss is a good time to sell and keep your spirits alive - but if you were doing that with crypto you would be racking up huge exchange fees! Sometimes it's better to HODL but you have to BELIEVE in where you put your money or else it will eat your soul. Personally, I believe in $LTC and $ADA - however I sold my positions and am now waiting for something like the tiniest bit of sanity to come back before I will HODL again - I may miss the big dips, but I'm looking for the big peaks - and right now it's a wavy gravy ocean.
Not selling is very important especially when it comes to cryto like you said the ocean is wavy so you just need to catch the calm before the storm.
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the content of this paper is very interesting, the opportunity to increase income, as you say, for the poor country is very good, also for developing countries like us in Indonesia, but I need time to learn it.
Are you reading my mind??
Haha that's what happened to me! I bought ripple at 22 cents back in November.... then it went up for a while so I was pretty excited but then it tanked back down to the price I bought it for so I sold it for IOTA because I heard it partnered with Microsoft but that turned out to not be completely true.... however by the time I found that out, the ripple was up to 50 cents so I bought back in.... I still made a profit from it, but I should have held on to it when it was falling because I would have made a bit more when it went up to $3!
Good luck bro!
Thanks! I got some Cindicator now... I heard that its going to do pretty well this year
Really? I haven't heard about it. Why have you bought it? Give me just three reasons :-)
I can't name my source :) But basically the Cindicator token is used for an automated trading system of sorts... if you own enough of the token you can get access to their systems which analyze which stocks or cryptocurrencies will go higher in price based on a large group of analysts predictions as well as artificial intelligence... I don't own enough to get access to the system, but I've heard the results are pretty accurate! If you are rich it does the trades automatically for you but you would need a million cindicator tokens for access to that haha just check out cindicator.com!
All right, I'll take a look at it. Maybe I'll write an article about it for my blog.
Nice, I'll take a look at yours if you check out mine, I post analysis updates of the top 10 cryptocurrencies occasionally and I track them using my cryptocurrency tracker app that I posted a video of too!
Ahhh... the classic double bottom trick.. never gets old XD
great post creating awareness for the newcomers .. liked and followed
Cheers :))
Merhabalar;
Steemit.com ile hayatımda yeni bir başlangıç yapmayı planlıyorum.
Bu platformu çok beğendiğimi söylemeden geçemeyeceğim.
Umarım yazılarımı ve paylaşımlarımı beğeni ile takip edersiniz.
Saygılarımla,
gt
Well, your analysis is very encouraging and for those of us who are just starting on this platform, it is extremely motivating. From what little I have seen the market of cryptocurrencies is very volatile and that is why you have to be patient and do what you show, study the trends to be able to make good decisions. My perception as a rookie coincides with your opinion because I think the Steemit platform will continue to be strengthened and of course the Steem will also do so. Thank you for such timely information. Greetings.
With current volatility in Altcoins incl Bitcoin this article is a great reminder for all traders and investors.
If you want to be a professional trader, the first thing you have to master is to control your emotion.
Whatever that means! ;)
that information is very useful for me..thanks for your information
Nice info. Upvoted
Nice post!
follo back
Wow Great Post...
good work! and thanks for your support...upvoted.
Thanks for your up vote on my post 😊
Exactly!
Emotions are the worst enemy of a trader.
Don't predict! React!
Nightly Regards from Germany,
Sebastian | @naanoo
There is a cake and you want to share it. This is so beautiful. Thank you for being with you. On behalf of the world: D
best regards, steemit has changed much our economic life
the graft look scary...
There are a diversity of topics related to how to increase the economic income, in fact every information about these topics is good and much more to learn from these movements given in other countries, thanks for your post.
thanks for your vote. good publication Would you like to join a support community?
This is very good for a new trader, as a warning and caution.
You got a 8.72% upvote from @postpromoter courtesy of @smarthamster72! Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
Steem is really changing lives of lot of people specially from underdeveloped countries.
Yes i agree! It will help more people and grow at the same time.
lol nice chart. I see this happening every day with traders. I have written a couple of posts on it as well. The problem is people get scared or greedy. Instead you need to think with a logical mind, go into every trade with a plan of what you are doing. You also need a backup plan in case it does not go as planned.
Exactly! A back up plan is needed in everything in life.
Precisely my story 😐
I made a small investment grew it pulled my investment out and have grown the profit. I think that is the only smart way to invest. If you eventually have just profits in, you don't worry so much about the pullbacks and the climbs, unless you are day trading, they you really need to watch the charts and research before you start trying that, and always start small.
Thank you for sharing your experience! The more information a person learns the more possibilities of making a profitable investment an individual can achieve.
this post resteemed by @alaminbinamir i following your post. bitcoin very need for us. thank you @smarthamster72 for infermation
thanks for support
interesting haha
Interesting. What about the fees? I've seen many traders moving funds around without a care, or even not taking the exchange fees in consideration.
I've written a post about the former: https://steemit.com/bitcoin/@sek3/how-to-reduce-your-bitcoin-transaction-fees-in-up-to-80
Very interesting to me. Thanks for sharing.
Have a nice day
Jajaja... i know how it feels
So true, it's not a stable market, and most people don't know when to hold on or sell.
This is exactly the mistake I have made over and over and over again. I have owned shares of AMZN, AAPL, GOOG, NFLX, and lost thousands on all of them as they were going up 1000 % .... I did the same again with Gold Mining ETFs and even the Super Hot Cannabis stocks in Canada getting in at $1 watching them go all the way up to $45 but still some how losing money on all of them.... I do this by buying increasing amounts as it goes up and then panicking when it drops and selling every time at a loss. Luckily with Steem so far I have made the right decision to hODL.
I did same mistake 3 years ago with AMZN, AAPL on NASDAQ and 3.5 years ago with BTC (sold 80 btc )
Ouch we have all made these mistakes.
Yeah none of my mistakes have been that big
I once had thousands of shares of Amazon before several splits .... now I have 1 share left. I could have been a Billionaire by now
Thank you, that was actually very informative. Just starting out, I find myself going through all those steps after I bought some verge. It took a crap. Maybe you could post a graph of how to successfully do it instead of how to fudge it up.
wow thank you very much for this post. this is actually very helpful to me as it gives a sense of direction and time. I've already learned my first lesson the hard way. January was been a rough month to get in.
It's so simple and correct explanation.
This was exactly the same situation when i stept in to crypto.
Now i am just holding them.
When i trade it feels like someone is watching to screw your decisions.
But if seriously, who is drawing those shoulders and necks, why not buckets?
Who is deciding, ok it is enought for all of you guys, but now you all are going to loose your money! Who is doing that? The whales start this chain reaction? They know better how we react?