This is the EXACT reason why most people should NOT be investing in crypto...
If you want to invest in a crypto, join the telegram, slack, discord, twitter, facebook and any other source of info about that crypto. Then spend your hours staring at all of those pages and getting facts.
If you are lazy, you may loose everything. I had a strategy back in December, as time moved and prices went up and then crashed down, the strategy needed be adjusted... Any strategy can be amazing the day it is created but you need to be staring 24/7 at as many screens as possible and making your own decisions about what you should do with your investments
Remember
What may be great advice on Monday can easily become wrong on Tuesday. If you really want to be a crypto investor, you either need to purchase crypto and then completely forget about it and wait a long time or quit your job and become a crypto researcher.MAs for me, I am with the second option. I'm sure there is a 3rd option but I just always find it funny how many people only spend an hour a day in the crypto world and then wonder where their money went.
You Are In A Business
Treat crypto investing like what it is- a Wild West World where you can strike gold or get shot and robbed at any second of any day....
Thread lightly...
Think clearly...
When u make a plan stick to it or completely abandon it, then make your own decisions.
Finally, expect to lose everything, but be happy when you get it right and actually make profit. And when you are up 20%,30%,40%, sometimes it is wise to sell instead of waiting to go up 1000%.
Notice the keyword above- Sometimes
Quick example: I watched my $150 PAC investment go to $3,600 and now it is worth $120. Sometimes you need to know when to take your winnings and run. Sometimes you need to know when to cut your losses and run. We have watched many cryptos rise and fall . Some of us have profited,some of us have lost. I have profited and lost and profited and lost...
But there will be another crypto to invest in, and hopefully we can take everything we have learned from our mistakes and from what we did right, and do a little better on each new investment.
So, happy researching, happy investing, and as always, don't gamble your kids school fees on anything, poker, dicing, crypto etc. Play with what you don't mind losing.... play smart... and when you hit it big, get on a plane and get to the beach of your choice, soak up some sun and good energy, then get back into the crypto matrix....
And on that note, I leave this matrix and head to my cocoons to repair all the brain damage done by the bloodbath insanity of the last few days, I will be right back.
Is your Plan B in place yet ? If not, it's time for one...
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STOPExcitement time for me, Thanks SteemitBoard
That's very good advice. I would add only this; spend what you can afford or will not miss too much, just in case that money gets lost somewhere in crypto-space, this way the separation won't be too painful. Great post.
Thanks @mariekoh, valuable input
Welcome, look forward to your new posts!