Originally Posted by
Racingswh
I am learning there are two keys.
1. Do not overthink it.
I know it doesn't make sense. I know it's not tangible. I know it's the Wild West. Fact is when I scrape the "cream" off regularly it spends just the same as my other money. There was a run in August when it did even seem real.
2. DO NOT GO ALL IN ALL AT ONCE.
I have learned some extremely hard lessons that others can avoid. If you're going to invest 10k buy 5 coins with 2500 and set up auto buys for the pull backs for the leftover 7500. When it pulls back and it absolutely will, even crashes and then recovers, and boy does it and quick, you will capture all of that upside profit buying after the prices pulled way back lowering your average prices for all your holdings. I have had 25% dips in coin prices this week in just 2 days. All I did was strategically increase my positions so during the recovery, which really happened last night and this morning, I just watched my portfolio value grow.
To MAKE THE MOST MONEY in crypto you have to have xtra cash set aside to buy during the pullbacks. If you're "all in" all you can do is sit and ride the wave up and down, up and down.
I use an automatic trader. I set my own parameters and use paid strategies to do my research and identify coins.
Sorry for so far off topic but my two main hobbies are crypto and cars. Do well with the first one and it makes it easier to afford tires for the second one.
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