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RE: "WEAK HANDS"
😂 I love some of those statements! Yeah, it certainly doesn't apply to serious traders. But I mix with many not-at-all-serious traders in my Facebook groups. believe me that "weak hands" is real. I mean it in the context of (normally new) traders who dive into a market, proclaim coin xyz to be king, put everything into it, only to dump it when it hits bottom and call it a "shitcoin". You would be amazed at how many people trade like this. It applies to more than what it does not (of the amateurs).
You'll have to forgive me, being as I am from the world of normal trading. Stuff like hodling just doesn't happen, it's account suicide. I've been there, even made a post about it, everyone does it in their career, but usually only once....lol.
I agree the 'weak hands' thing seems to the easiest way to lose all your money, buy at the top, sell at the bottom. However.. if it goes to zero then the weak hands at least walk away with something, and everyone else loses everything. It's a gamble sure enough.
It just doesn't apply to people like me or those trading on margined accounts. A 25% loss would wipe out my entire account, can't just 'hold' and wait for a recovery.
The thing with crypto is that most investors, myself included, aren't pro. Sadly we have day jobs. This drastically limits the amount of time that can be spent on trading, or even just watching the markets.
I'm sure that I could make a lot more if I traded properly, but it's just not an option.
A properly executed "hodl" is not really trading at all. It's more like picking an investment. This is where long-term market prediction and coin research becomes all important.
I imagine that this would be a complete mind-shift for you; kind of like asking an opera singer to appreciate death metal.
As I've said in the past, I have long term investments in stocks, which is the equivalent of being invested in crypto, but how I manage my portfolio is completely different to how a crypto investor would do it. I have profit targets, and if the profit targets aren't met then the portfolio gets reshuffled. This way I'm always in the money, always increasing...
Crypto on the other hand seems to be more about finding that one coin that's going to give you 100x profits, that just doesn't happen in real markets unforunately, it's a long slow grind with compound interest doing all the work.