The formula is simple... and helps maintain your mental health
Accumulate, Reinvest, Grow
So you have only a small amount to invest... you think you will never accumulate much, as so many others can invest more... and you feel always behind.
Well the obvious thing here is if you don't at least start, you definitely will never get there.
So here is a simple stress free formula to have fun with:
Say you take $100.00 ($ used as that is my currency), you invest in a smaller penny token that has real world use and growth potential.
Do not buy the ICO's as they many times go down in value... leaving one with a sense of loss and further confirmation of bad emotive state.
Once the idea is set you research the coin/token further on media like YouTube, listen to as much on the coin and it's future as possible.
Pick the coin and wait.
Once it reaches double, sell half and delegate the other into cold storage.
Take that new $100.00 gain and purchase another penny coin... repeat as often as possible.
So a quick example; I just picked up $100.00 worth of DENT... after all the transfer fees and conversions, I have 2500 of them in storage. I picked them up under .04 of a $. They had been up before to around .11 and they will again after this market consolidation (my un-expert feeling). Now once it reaches around .08, I will sell of half (gaining back that initial investment), and repeat with another penny coin.
I will still have 1250 DENT, so if it grows more... so too does my portfolio, if it sinks I loose nothing on it... but if I chose well it will grow over time... but it will be something I no longer worry about with this coin. Now I have done this with most of my holdings, (BTC, LTC, PLR, VERI, PPT, ETC.).. and am now a lot calmer.
Just keep it as simple as possible, eliminates stress and produces growth over time... the biggest mistake some folks make is they go crazy picking and choosing, watching the markets daily (scratch that... hourly). Relax there is no rush and if there is no stress and rush you will enjoy the space more.
or forget about the price and start to build tools/services...
Yes yet another way...thanks for the feedback.
I've done this quite a bit in the past year aswell, it's great advice! I just don't have the energy to check out new tokens lately, but maybe I should find some this week...
I just played with a couple, throwing minimal extra money at them... but my main focus is accumulating SALT. Just adding to that has been incredibly valuable and they make it so.
https://steemit.com/steemit/@kyusho/i-tripled-my-money-in-one-hour
Ooh that sounds interesting, I'll check it out :D
How about the person doesn't have the token,
Decide which project you believe is a good fit for you and go get some.
Buy, hold, when you have made profit, recoup your input amount. After that any future profit is yours to use later.
Buying and selling I agree, it is not my 'game', IMHO do good research then invest.
This is not selling per say, this is a accumulation strategy that does not tie up your funds, over time you will have accumulated a lot without the risk so many are tied to.
I totally agree, it is a matter of growth in a passive manner without putting too much risk into what you are doing in cryptocurrency.
Good strategie my friend, you get your investment back and still have some coins.
The only problem is that you need to find these coins that double.. not really easy :D
Yet.
Once the market rebounds, there will be a ton of them... picking a good one depends on the research on a legitimate company you do
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Good post.
Just something to do to gain some additional exposure to the market.
this is so hard ..
i like your work.
Taking profits is vital to remember. It's also crucial to remember that even during a painful dip like this one, that losses are only realised once you sell. So if you can stick it out and hold, you've not lost anything. Right now, it's just a potential loss.
No doubt the perfect market for accumulation in smaller incremental stages.