Buying The Dip 002: Avoiding The FUD
Hello Steemit.
On days like this it is easy for some to decide to sell. The constant FUD from everyone including the mainstream media with their complete lack of understanding of this movement, to whale and troll accounts on the absolute heaven-sent and hellhole that is twitter, to the youtubers and the average person on the street can for some be too much. This is when panic selling occurs, this is when the market drops, which for some leads to more selling. The clue to my approach on days like this should be clear from the name of the series.
Buy the dip.
Today as signs of FUD crept in and phrases like "Sea of Red" are thrown around scaremongering I increased the size and diversity of my portfolio and I feel like a winner. Has my value gone down? Yes. Has the amount of money I can withdraw today gone down? Yes. Have my hopes that they will only be bigger tomorrow or next day gone down? Absolutely not. Today is a good day. For Bitcoin? No. For Ethereum? Yes. For everyone who will use this opportunity to buy into this market more? Definitely. Today is a good day.
For most, today is a day of constantly checking the markets and worrying how much they are due to lose. For me, I completed my trading earlier, buying back things I sold at highs for a lower price and buying things I wanted to get into, but was waiting for the right price. FUD doesn't affect me, it drives me. The market still has a high percentage of people who don't do their research and frankly don't understand the graphs they're looking at which is one reason the price of things fluctuates so highly, it's why a coin like Ember could rise like it did,but a coin like Litecoin stays relatively flat. People are following trends. One trend you should never follow is the trend of FUD.
Again, today is a good day.
HJB. CryptoKnight.
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Good advice, but remember this quote - “The stock market has a very efficient way of transferring wealth from the impatient to the patient.” – Warren Buffett
So FUD exists for a reason, for the relatively smarter ones to profit eventually!
Thanks a lot Aram. Great reply. We will be the real winners. #hodl
Well written. A lot of people would benefit from reading this and understanding a bad day is not the end of the world.
Keep up the good work and get the message out there!
Thanks a lot. Feel free to give me a follow as this will be part of an ongoing series that I hope can continue to grow and benefit other people and myself!
Followed and upvoted, thanks man