As one of my posts before, you should always consider selling an asset when it has got declined for a long time even if you hope that it will rise again. If an investor does not know when it's time to get rid of your assets when its the time for it, he might end up having an worthless asset. You do not want to experience this feeling. The concept of hodling long term even if you do have loses but you are waiting for a high is a great theory but sometimes you should not do that.
So here are some ideas:
Staying with a rising asset:
If you have got a good asset which is rising, you should not immediately sell. Never underestimate your asset, it might pump even higher! So even if you already doubled or tripled, it might go still up. If the trend is there you should stay in. Sell when the trend is gone!
Selling your bad performer:
There is no guarantee that your asset will go back to its good times after protracted decline. You should know and do not underestimate your asset but stay realistic on your investment if its performing really bad. Recognizing your bad performer is hard because you would need to see that you made a mistake there. But be honest to yourself and sell. Go back into a good performer before you lose more money.
In both situations you need to decide if its worth staying with the company behind the asset (exception bitcoin or other real decentralized assets) or at least the community behind it. Do not panic, do not let your fears decide your returns or inflate your losses. I know that this is very general but this is what you learn when you do stock market or crypto currency trading and if you stay honest to yourself you will have better chances there.
Sponsored by https://CoinFolium.com
Your fast, easy and anonymous crypto portfolio
Very interesting
here is my trading strategy:
https://steemit.com/cryptocurrency/@cryptoknight12/new-trading-strategy-micro-cap-coins-microcaps
Congratulations @coinfolium! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPAwesome tip of the day @coinfolium, upvoted! Would you like to look at my article about an undervalued oil exploration stock? I'm trying to start a community about investing and stocks on Steemit (Because it is still very small) where we can share some thoughts. Thank you!
I also had another good idea. How/where can i contact you in private?
I just started the Discord channel SteemitStocks to gather people who are interested in stocks, trading and Steemit. Join it if you like it and let’s grow the stock community on Steemit! The channel is still under development.
thats not working :(
The link was expired. https://discordapp.com/channels/332824509377675264/332824509377675264 This one will always work :)
Sounds good. Count me in.