Finding Profits Amidst a Sell-Off and Some Random Crypto Carnage Banter
So the past eight hours have been quite the thrill ride. I'm sure many people are much lighter crypto wallets than they did yesterday, myself included.
However, being the trader I you know I had to make some kind of moves amidst this sell-off
Be Prepared and Ready
I had about $2k USD Tether sitting in my binance account. Waiting to be traded and that is exactly what I did when we got that two hour bounce in ETH, BTC, LTC, NEO etc. Unfortunately that was not nearly enough as I plowed it all into ETH for a trade.
Point is....
I was in a position to act and that is half the battle. Many people think I'm nuts for keeping capital on the sideline, but its for these moments. I plan to put that capital to work again when I see an opportunity
This is something I teach and preach. You must be in a position to act but also have your sights set. In my videos and my charting posts I point out upside and downside targets.
You should always know both for prudent investing. If you are getting info that only gives one side, then find a source giving you the other side.
Anyway, I made a video of the trade and some rambling about charts (and a little frustration)
Learn to Invest Like The Cat
Best Regards,
Do you think we should sell all of our SBD now?
Your post very very empowerment the childhood of Mahatma
It usually is a good idea to keep some cash on the sidelines, unless you're an all-in type of person.
If you are that type - I can't repeat this enough - you'd better HODL and be prepared to wait years. That's exactly how the Bitcoin "insta" millionaires did it.
On the fear that this is a new bear market, I'm girding myself to regard my HODLings of STEEM as "abstract money" that will make no difference to my standard of living for a long time. If it is a new bear market, if Bitcoin and the rest are going through a reprise of '14, I'll fire up a dollar-cost averaging plan - like I should have done in '15 and '16.
Resteemed.
Exactly! Great plan. Have a similar point of view for my long-term crypto holdings.
Totally agree on my to lodge some of that rainy day fund in the morning. Should have got on it yesterday. Were in this for the long haul folks..
I'm deleting my comments.
Being down voted by Content censoring whales sucks
and hurts minnows who only earn 0.01 per post/comment anyhow
This whale BS will kill STEEM imho
Well done post @scaredycatguide . You deserve for getting Upvote from me. I appreciate on it and like it so much . Waiting for your latest post. Keep your good work and steeming on. Let's walk to my blog. I have a latest post. Your upvote is high motivation for me. Almost all Steemians do their best on this site. Keep steeming and earning.
Useful article man. Keep sharing with us your thought about crypto invest. Thanks to you. Well done @scaredycatguide
Good post
I think now it is very profitable to buy coins!And after the correction there will be a rocket!;)
Could be, but I still see another leg down. Then it will be time to buy buy buy :-)
Awesome post ! on my way to check out the video !😀👍👍👍
Karen! Hope all has been well :-)
Covering all your bases can't hurt. If your not in it, no chance to gain.