I doubled my 10k, sold half, and now HODLING is easy!

in #cryptocurrency7 years ago

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Hey guys, this is my first post, but I'd like to contribute some thoughts. I'm from Germany, so excuse some of the grammar / spelling mistakes as you will most certainly find some.

I am relatively new to the Crypto Market, although I already started to buy 1 BTC in 2015 but sold way too early when I was at 3x. Then I got in again in decembre cause a friend of mine recommended EOS to me and I had some money lying around. The last weeks were a rollercoaster ride, with the "crash" or better correction around christmas - but I think I learnt two valuable lessons:

  1. Daytrading is not my thing: I tried it, almost lost money everytime and quickly realized it was way too stressful.
  2. The daily ups and downs only get to you if you're risking your initial nvestment.

What I mean by that: Within the first weeks I was pretty stressed by the whole market movements, I started to watch the charts almost every hour and it got worst and worst. I realized: That will end badly. So I set a rule. The moment I'd double my investment I'd get half of the money out and HODL the rest of it. The result is awesome: From that day on I was watching the whole market in a much more relaxed way. I wasn't thinking about selling just because my coins were going down - and I think this will be the right mindset in order to make money in the long term.

So my advice would be: I you're lucky and you doubled your investment, and you tend to be an emotional person who already made some stupid decisions cause of the panic of the market: Get your investment out. You will confront everything that happens in the market place in a more relaxed and rational way.

Maybe I helped someone with my thoughts, anyways it's a great feeling to be part of the STEEMIT community.

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