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Never Hodl. Its a meme
08-09-2018, 03:59 PM
True. The big question is just to realise when it's actually going down and when it's only a small correction.
This is always easy to say in hindsight or in advance, but to pull it off in the moment is actually quite difficult.
In my opinion, crypto traders are far to loyal to their coins as if we almost talk about religion. I'm myself am victim to this.
Just focus on the cash part and don't get emotionally attached to your investment.
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Never Hodl. Its a meme
08-09-2018, 09:47 PM
What you meant to say with that awful elongated diatribe is to always set stoplosses
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Never Hodl. Its a meme
08-09-2018, 10:32 PM
Depends on your investment strategy, sophistication as an investor and how much time/energy you’re willing to put into it.
If you are a long term investor (say 3 years or more) and just want to “set and forget” then all the pumps, dumps/corrections along the way are not as concerning - as long as you’re in front at the end.
Having the opposite of a “hold” mindset can be equally problematic - selling at a significant loss, when being patient and holding until the value improves is the more sensible strategy, but again, clear to see in hindsight and not always in the heat of the moment.
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Never Hodl. Its a meme
08-09-2018, 10:57 PM
Is "hodl" a new bitcoin I haven't heard of yet?
I'm the King of Beijing!
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Never Hodl. Its a meme
08-10-2018, 02:53 AM
Yeah, you've got no business buying shitcoins if youre not planning to be uptodate with them and dump them as soon as the relevant moon mission is over. Theyre not meant for long term.
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Never Hodl. Its a meme
08-10-2018, 04:21 PM
Shit coins might dump now but they’ll go up when We have a bull mrket again. Not to mention, every trade is a taxable event.
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Never Hodl. Its a meme
08-10-2018, 05:11 PM
Holding isn't a good idea, I've grown to learn. I have an average position in Vechain for example at about 44k sats. This is fine for me as I was happy to hold it for a couple of years. I wish I hadn't made that decision.
I'm a trader and should've been flipping when the signs were there but I wanted this as my sort of easy investment where I didn't need to manage it. Vechain looks good for the future, so I'm happy to hold onto it until the next bull cycle, in which event I'll most likely sell out of it at a new ATH, should we get there.
My mistake when getting into crypto during the previous bull cycle was having no profit taking strategy. I've learned a hell of a lot over the past 8 months or so though and am pretty confident I'll milk the next cycle.
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Never Hodl. Its a meme
08-11-2018, 04:24 AM
@ThisIs: I hodl Vechain since I am producing Thor. You are here since 2012 so you should know that holding has been so far the best strategy in the crypto market.
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Never Hodl. Its a meme
08-12-2018, 03:17 AM
Why not a hybrid approach?
Buy low sell high but keep 10-20% of your stack in case it blows up like BTC/NEO/ETH/XRP etc
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Never Hodl. Its a meme
08-12-2018, 04:06 AM
We tend to hodl because of this false perception that its going to go higher so don't wish to miss out further down the line. But this market is just like others, it goes in cycles. Take your profits wherever you see fit (20%, 30% 50% etc) and wait for the next dip. Easily said of course, but hodling can get you in the shits as many are seeing now.
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Never Hodl. Its a meme
08-12-2018, 06:24 AM
Another reason we (US citizens) hodl has to do with how short vs long term capital gains are taxed. After 1 year of holding an asset, it is taxed at a much lower rate if you sell at a profit. Less than one year, capital gains are taxed at ordinary income tax rates.
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Never Hodl. Its a meme
08-12-2018, 08:48 PM
just move to a jurisdiction with no capital gains.
or trade/use bank account located there
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Never Hodl. Its a meme
08-17-2018, 06:13 AM
personally I just buy in dips and resell bounces, I only trade in USDT pairs so I wont lose against fiat, I use tight stop loses and most important always know what is current trend up or down trend ..