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1/ # 3.8.1 Selling at a loss
This is a common predicament in crypto and its a situation in which people often lose out on gains because of handling it wrong. They buy something, it drops by 20-40% perhaps. Weeks can go by where it doesn't go back up, sometimes months.
This is a common predicament in crypto and its a situation in which people often lose out on gains because of handling it wrong. They buy something, it drops by 20-40% perhaps. Weeks can go by where it doesn't go back up, sometimes months.
2/ They miss other big opportunities that come and go to which they reply "Yeah, once $XYZ goes back up i'm gonna sell it and maybe buy some of that'.
This happens because of being fixated on it being a loss if you sell.
This happens because of being fixated on it being a loss if you sell.
3/ I know one person who has been in this situation 1 year, waiting to get his money back before investing in something else. This isn't the way. Your objective isn't to be successful on every trade and not sell until its 'worked'.
4/ Its about applying a strategy which, overall, is resulting in gains over time.
Selling at 1x instead of 0.6x isn't smart if from selling at 0.6x you had a high chance of at least one 3x.
The first thing to do is look at why its down.
Selling at 1x instead of 0.6x isn't smart if from selling at 0.6x you had a high chance of at least one 3x.
The first thing to do is look at why its down.
5/ If something did some big parabolic climb a few months ago, was way overvalued and ever since has been bleeding out dropping down, then you should have probably sold already (or not bought it in the first place), unless you have some reason to believe there is a good chance…
6/ …that its going to have a strong narrative for gains in the near term that will allow it to outperform other options.
If however something is down because the market crashed, its a different story. The problem isn't primarily with the project, its the market.
If however something is down because the market crashed, its a different story. The problem isn't primarily with the project, its the market.
7/ When that problem goes away and the market goes green, that token is likely to rebound up.
You need to be looking at your portfolio and determining whether its optimally balanced and in the right things to get the most likely, surest gains over the near term.
You need to be looking at your portfolio and determining whether its optimally balanced and in the right things to get the most likely, surest gains over the near term.
8/ This strategy DOES NOT mean jumping from one thing to the next chasing gains tomorrow or this week (unless something extremely good comes up).
9/ You should be looking at it from the perspective of the current market, and upcoming market This could be a timeframe of 1 month to 3 months. In a bad market that timeframe could be 6-9 months. It depends on how fast things are moving.
10/ Sometimes you buy something and it just does nothing. You buy and it maybe falls a little, then just stays there weeks. In these situations you need to be looking at its narrative to make sure you have it right. Ask others what they think. Is there something youre missing?
11/ Look at its community and exposure. Is it just a case that you're early on the narrative (relative to the crypto 'masses')? (No this does not mean believe some BS from a team about something coming: 'Big announcement coming in Feb').
You need patience.
You need patience.
12/ Some people come out altruns with 2-3x instead of 20x because they jumped around chasing things. If everything is good with the plan, give it time.
13/ ( This is also the biggest reason why you do not go all in one project. You don't want to be sat there with everything pumping and yours (for whatever reason) just doesn't ). When I look at my portfolio I don't care if something is down.
14/ All I am interested in is the current price and its potential gains over the near term. Are those potential x's the best opportunity for those funds over that time period.
