In some sense, this is not the worst advice and a something of an exception to the rule in the space "buy and never worry". In the Alice-in-Wonderland world of crypto, it is significantly better than the "Technical" analysts, many of whom have come from the nutty world of retail FX trading, since they are similar... I coin it here "Structured Guessing". Using these sorts of "techniques" you can even watch butterflies and occasionally be right about their flight paths. Perhaps this could even be a new coin: BFLYSG
There are more folks from the professional investing world migrating into this space. Money attracts. Most of them probably know better, but, to repeat: money attracts, and attracts absolutely.
But what we have here is, again, one of the hoards of people who have no experience in the world of investing/trading/pricing/risk, let alone the interplay with economies and econometrics. And, however relatively sensible the remarks are compared to the masses of self-made crypto analysts, this commentary is pure guesswork.
The existence of any basis for these assertions (except an effective only-yesterday existence in terms of crypto's life) is entirely absent apart from "everybody is doing it".
I hereby christen this category of analysis: EIDI. No need to spell it out. Just say things like: "given this upward EIDI trend over the last month, we expect a downturn soon and then followed by a probable geometric increase in EIDI". There could even be new curve behaviors named EIDI-increase, EIDI wobbles, head-and-shoulders EIDI, sideways EIDI persisting...
Any other former advisors to Nancy Pelosi (of whom I'm a fan) and writers in the space: adoption to use EIDI nomenclature is royalty-free.
What you wrote makes sense. I am against people investing the money they need. Because investment does not always bring profit. Investing money that you need affects your psychology badly. And with a bad psychology, it is very difficult to earn on the crypto market. Requires great luck.
I myself very rarely make a profit. I'm evaluating a token-coin I bought if it makes 500-600%. I'm selling a quantity if it doesn't have the potential. Otherwise, I'm waiting. I'm in no hurry. It is very important to think healthy.
It's also very important that you have a strategy. You must have a good or bad roadmap. Otherwise, you will be blown away in the wind.
It's hard to stay still and not FOMO sell when prices soar. Truth is you never know for sure where the price will go next.
Thank you for sharing your wonderful experiences with us. Awesome article.
In some sense, this is not the worst advice and a something of an exception to the rule in the space "buy and never worry". In the Alice-in-Wonderland world of crypto, it is significantly better than the "Technical" analysts, many of whom have come from the nutty world of retail FX trading, since they are similar... I coin it here "Structured Guessing". Using these sorts of "techniques" you can even watch butterflies and occasionally be right about their flight paths. Perhaps this could even be a new coin: BFLYSG
There are more folks from the professional investing world migrating into this space. Money attracts. Most of them probably know better, but, to repeat: money attracts, and attracts absolutely.
But what we have here is, again, one of the hoards of people who have no experience in the world of investing/trading/pricing/risk, let alone the interplay with economies and econometrics. And, however relatively sensible the remarks are compared to the masses of self-made crypto analysts, this commentary is pure guesswork.
The existence of any basis for these assertions (except an effective only-yesterday existence in terms of crypto's life) is entirely absent apart from "everybody is doing it".
I hereby christen this category of analysis: EIDI. No need to spell it out. Just say things like: "given this upward EIDI trend over the last month, we expect a downturn soon and then followed by a probable geometric increase in EIDI". There could even be new curve behaviors named EIDI-increase, EIDI wobbles, head-and-shoulders EIDI, sideways EIDI persisting...
Any other former advisors to Nancy Pelosi (of whom I'm a fan) and writers in the space: adoption to use EIDI nomenclature is royalty-free.
What you wrote makes sense. I am against people investing the money they need. Because investment does not always bring profit. Investing money that you need affects your psychology badly. And with a bad psychology, it is very difficult to earn on the crypto market. Requires great luck.
I myself very rarely make a profit. I'm evaluating a token-coin I bought if it makes 500-600%. I'm selling a quantity if it doesn't have the potential. Otherwise, I'm waiting. I'm in no hurry. It is very important to think healthy.
It's also very important that you have a strategy. You must have a good or bad roadmap. Otherwise, you will be blown away in the wind.
Thanks for the nice article.
What you have written is very important. I agree with you about taking profit, we should not sell it in projects we trust unless we have to.