"WEAK HANDS"

in #cryptocurrency6 years ago

And now for something different:

800px-Honest_is_the_Best_Poetry._--_Gregory_Alan_Elliott.jpg

Weak Hands - a poem by Bit Brain

I've never seen hands quite as weak;
as those of traders who sell cheap.
They seem determined not to make;
a profit, they just want to take;
the chance to sell, no matter what.
If they just held, they'd make a lot;
of dollars. But their weak hands cause,
them to keep selling, no remorse.

The markets tumble, they cry "crash!"
And yet they cause it, 'cos they're rash.
No hodl, they don't have the gumption;
they operate, on pure assumption.
They sell on FUD, they buy the hype,
no matter if it's fact or tripe.
To trade like this, must surely be,
the best way to lose satoshi.

~ Yours in poetry ~
🌷 Bit Brain 🌷

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I just looked up "weak hands" on wikipedia and it said "people with good money management skills and risk awareness, often very rich and successful"

lol :-)

😂 They sound like boring losers to me. They probably measure success by the number of Ferraris they own. I bet that their wives are all sleeping with the pool boys. Their kids probably listen to Hip Hop. 😝

Sorry, the whole 'weak hands' thing just annoys me all to hell. Whenever someone calls someone else a 'weak hand' I just think, you're trying to make yourself feel better because you made a bad choice and now you're losing money.

It always reminds me of a bunch of Christians just about to be fed to the lions, all patting each other on the back and saying 'Don't worry friends, it'll all be ok, we'll get through this".

That's why I laugh when people say 'it will be good to get rid of all the weak hands' because it really means getting rid of all the people who like making money, while they can all go on losing it. While simultaneously circlejerking amongst themselves that they're the clever ones making the right decsion and the people who are making money are somehow stupid...

"Ha ha, I can't believe all those people sold at the peak and made a lot of money, losers ! I'm holding mine even though it's lost 90% of it's value, because I'm the clever one !" lol :-)

😂 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.

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