Know When To Hold or Fold?
See Josh's post here:
So we have seem some volatility in digital currencies. We have also seen major price moves in bond, forex, and equity markets. I was reading just a few minutes ago about a drop in Steem from @joshsidurdson and this got me to thinking about staying power.
https://steemit.com/steem/@joshsigurdson/the-steem-value-has-nearly-been-cut-in-half
Most traders can't stomach a 50% draw down in their equity. This is a key inflection point, as many traders run for the exits when this happens or long before this. The infamous Warren Buffet has stated "You shouldn't own common stocks if a 50% decrease in their value in a short period of time would cause you acute distress."
Okay, so the guru has spoken this with regard to common stocks. What about holding digital currencies? Do you panic when you see a 50% or more drop?
Keep on Steeming and hold on to your digital holdings for dear life.
Best,
Andrew
Thanks for the Information, I just sold some of my Ethereum holdings and went all in on Steemit. I think it has more potential right now. Sell high buy low :-)
https://steemit.com/steemit/@masterthematrix/i-m-going-all-in-on-steemit-because-i-sold-cheap-ethereum-at-350usd-should-we-be-worried-about-ethereum-part-2
Thanks for commenting. That's the trick to any investment is getting in on the extremes and riding a wave higher or lower. Good luck!
Have a great dayThank you very much dear friend @andrewdaines for this information.