I am far from being a veteran in the crypto space but what I have learned so far is that you will miss out on big gains.
Sometimes it can just be a pump and dump, sometimes you discover a coin late or you wanted to actually not buy in and something or someone made you change your mind.
It can feel a bit like you are sitting on the sitelines, when you read in your discord, telegram or whatever groups how big the gains are of other people but you cant dance on all the weddings.
There are some exciting projects and I am probably to spread out already with my portfolio but I really like to "get to know" my coins as if I think it is a good project with a good team, it is easy to not panic sell or do anything stupid when you are on the red site of the crypto market.
Friends were telling me how they love Ripple now and how it will overtake Bitcoin someday and blablabla....
I have to say I dont like Ripple for obvious reasons but if you want to buy it, go ahead.
But as I am sitting on the bench, I know that my time will come also as I have confidence in my coins.
Also we Steemians had to get a bit used to the waiting game.
Great post! I'm just putting together my first portfolio now, as I'm new to crypto. I've gone for bitcoin, ripple, cardano, lumens, omg, and steem. I'm hoping for gains in long term. Do you think it's better to think in long term, or short term gains?
I guess that's the part of participating in the "cryptocurrency world". It's almost impossible to NOT miss out on everything that's going on. You might find an opportunity too late and you jump in the train and invest, but later realize you already missed out on the gains. I think it's a learning experience. Mostly, when you're still new to cryptocurrencies, you invest into something that got a big increase in price, and late it goes down, but you already invested. It makes ya' stress a bit, especially if it was a big investment. But still, by doing this, you get to understand cryptocurrencies a bit better, so your future investments become smarter as well. Although you will still miss out, because you can't keep up with every coin and their news. There are just too many!
Exactly.
Way too many to keep up with.
Chasing green candles is mostly not a good idea as you said but you learn rather quickly in the crazy coin world I think
You haven't earned any money until you sold the coins. For that reason if you choose to hodl then down the lines the gains might end up being much higher than some smaller coin that went bananas only to fall as fast the next year. More people are entering the crypto space, but that also means the amount of newbies increase. If you ask many people why they hold a certain coin they probably will say because they heard about it ... well I think your strategy to get to know the coins is much better and over time it will be shown in spades
That is totally true. You haven't lost or earned if you sold.
The question is sold into what? Btc? Fiat? Gold?
I bought a couple of coins a random youtuber told me about with knowing next to nothing about it. When it started dropping I got super nervous and sold.
Some were actually good others I am still not sure and happy I cut them loose and accepted my losses.
I think it's good like you mentioned in an earlier post to also diversify into some gold and silver to lock up profits into something tangible that has been considered money for thousands of
Years. There are no guarantees with crypto even though things look good now - just wait till governments really start fighting it.
One thing that is very awesome to invest in is real estate, because having a constant passive income is invaluable . Everyone will always need housing .
That is actually my plan for the end of the year but I dont want to get to excited as I am planning with money I have not in my pocket for now. When 2018 will be as good as 2017 I will be able to buy something again without taking too much out of my crypto porfolio as I dont want to take too much of the table.
I actually bought some gold today and curious to see how long it will take to get delivered ( assuming it is no scam)
Cool man ! Glad to hear you are getting some gold. I think it's a good idea. Yea well I definitely understand that you don't want to take out too much too early.
I guess the bottom line is to put down objectives and goal on pen and paper and then follow through so that emotion doesn't take over too much
Ahh I wanted to buy TRON when it was 0.03$ and now it's 0.23$....
Will probably not be the only coin where you would, shoulda or coulda made a lot of gains.
But also you will catch a couple of boats, too
This is the condition of coins. Waiting for the best moment is a must.
I'm sitting in my comfy Steemit chair and I am going to ride STEEM all year long ! Yes Sir !!
My plan also😀
All we need to do now is sit back and relax while waiting for steemit to fly to the sky. All good things are worth waiting for. Cheers!
Well says ...........
Thanks for share this
Hello @flipstar good afternoon, what coins do you recommend to sell in about 11 months?
I can't answer that as the crypto market is moving so fast 11 months is like an eternity.
Thanks for sharing! A really great one is KCS, I have absolutely fallen in love with this one and you should definitely check it out!!
https://steemit.com/cryptocurrency/@ries9112/what-is-kucoinshares-kcs-and-why-you-should-get-it-asap