How to Deal with the Ups and Downs of Trading in Cryptos

Today Ethereum took a major dive, and its happened several times before. I find myself refreshing the price quotes every 10 seconds waiting for the inevitable drop and then hoping it recovers just as fast. Sometimes I feel compelled to sell part or all of my position both when it falls fast or when it rises beyond my price estimates. The reality it is I should be hodling. But how do you hodl when you have that itch to sell constantly?

The secret is to invest an amount that doesn't affect you if you lose it or not. And the super secret is that same amount shoudln't matter to you if it rises a bunch either! THAT is the key. This amount you easily forget about and can hodl for the long term.

What is long term? At least a year. That way you don't look at the day to day, and when it finally comes time to sell, you can have massive gains and best of all, your taxes are long term capital gains (15%) vs ordinary rates!

Now how much to sell after that year? How about all the original money you invested, and just leave in the profits. Then you are playing with just the houses money and really couldn't care less what happens!

BTW hodling is holding in case some of your aren't in with crypto-lingo!