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RE: The Big Question: Should You Sell or Hold During a Market Correction

in #cryptocurrency7 years ago

I try to sit with the reality that "corrections are inevitable." I'm really not much of a trader... I tend to just hold until "hard news" or solid trends suggests something has permanently run out of go juice.

I'm not much good at predicting trends in the short run-- not my gig. I work with fundamentals... so the question is fundamentally whether I believe in the future of cryptos, in a broad sense... and I can emphatically say yes, independently of pricing.

On a more "local" level, Steem has risen recently, but still is only at about 1/3 of its former high... which to my non-expert eye suggests we're 200% from anything that even resembles the irrational euphoria preceding a major crash.

In general, when I start feeling "anxious" about markets I'll sometimes activate an "exposure limit." I'll decide what amount I'm in for (USD equivalent) and profit take any significant amounts that build above that... Sure, it reduces my gains but it's easier to sleep at night when things get super volatile.

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suggests we're 200% from anything that even resembles the irrational euphoria preceding a major crash.

I like the sound of that!

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