Some Simple Investing Tips - Strategy/Self/Security

The Strategy:

Buy before June, be happy to sell and walk away when things go up

Buy before December, be happy to sell and walk away happy when things go up

The Self:

Make sure you have enough in your own bank account; be aware of making emotional decisions.

Beware your fear of missing out (FOMO)

Not a bad idea to get/improve general trading skills; learn to read charts (long-term so you can ignore all the noise, 4h/day/week charts)

The Security:

Diversifying is not a bad strategy, assuming you aren't simply buying a ton of ERC-20 (Ethereum) tokens. Point is: minimize unsystemic risk (i.e., project failure) and mix uncorrelated crypto assets.

Use a damn hardware wallet if you haven't already; part of making sure your wealth is safe and you can be mentally comfortable

Keep nothing on centralized exchanges

If you're into trading, ether as base currency is good because it clears faster than bitcoin, assuming ether will go up in the future.

Learn to take profits so you can free your anxiety and sleep well at night. <-- also gives you money to buy back in during the market dips.

Keeping up with some news is important. For example, what the fuck might happen after Bitfinex subpeona/Tether concerns - Plan accordingly

Bonus:

If you want to trade/time your buys, be mindful of each project's news. Prices go up on development/launch/rebranding/listing/etc news.

It dips after that as the big money traders exit their trade

I also want to quickly say you should learn to secure yourself digitally in all ways possible

Things like not using Linux instead of Windows, using a VPN, two factor authenticating your accounts, using 30+ long passwords (use the same first half across all passwords + second half stored on your password manager), and changing the way you do things (being critical of everything you click and type online) are part of the deal with protecting your crypto wealth.

Don't screenshot your anything. Don't save things on a text file or other programs/softwares. Don't save things on cloud storages unencrypted. Make sure your wifi connect/network is bullet proof.

If you lose it, there is no compensation.

You can find daily comments of people swearing and crying on blockchain explorers about their tokens being stolen. The risk is real.

add HDD encryption to the list. Built-in OSX.

pasdoy said:

add HDD encryption to the list. Built-in OSX.

Click to expand...

Definitely. Well worth researching for the few open-source softwares to help with that for other operating systems.

Probably way off course from original purpose of thread, but it's part of the investing/trading game.