Discussion in 'CryptoCurrency' started by CryptoKujira, Feb 12, 2019 at 1:57 AM.
Just curious what investment strategy is most popular among crypto enthusiasts around here?
I don't like to use the word investment and cryptocurrency because all of the popular cryptocurrencies are controlled by the Gambling community both by the applications that are built on each of the coins blockchains and because some of the first movers were casino owners. Cryptocurrency is a gamble to say the least.
So I should have titled what type of gambling strategy? Hmm... it does ring true, doesn't it. Haha.
But then again, investing in any anything is a gamble. Stocks, bonds, commodities, forex, it doesn't matter. It's all a gamble. And I would say, some of the players at the top of those investments are no less crooks than casinos.
tried and true: HODL
I've bought cryptocurrency one year ago now I'm waiting to see if they go on green...
Most people are part of the HODL- gang.
The hold mentality is a bad strategy as it is recommended to lock in profits when they are presented to you. A lot of times people do not lock in profits when they see big green candles. As a result, when the chart turns bearish these people will be stuck bagholding in the red waiting for it to go up again. There are many, many many examples of this.
Bagholding results into a lot valuable time lost as you are only focussed on the loss instead of new trades where you could potentially profit. It is recommended to lock in profits and move to the next play. You can always come back to your favourite coin and buy it at a cheaper price later.
The same principle applies for a loss, cutting your loss quickly and moving on to the next play will allow you to not baghold for ages and you keep your loss small.
The time-cost average is way too high when holding.
Separate names with a comma.