You can’t just HODL

Well I started my crypto journey few years ago already. Got burned at first, than I got patient, started to develop fears and sleepless nights as everyone who go to BIG at the beginning. Even as an employee of a small company I always told myself what everyone tries to say to themselves — HODL! Buy some crypto after salary goes through — every month 10%, 20% … and the more you get to it — the more CRYPTO GREEDY you are. But as we all know — it never works out. Something goes wrong, suddenly you got to spend money elsewhere, your lady want’s to travel… and list of unexpected expenses never ends. You meet your first massive bull run. Excitement confirms your choices as correct! Portfolio is growing, confidence is rising, satisfaction reaches new all time highs :) So you tell yourself — IM GOING TO HODL — regardless of situation.

Your portfolio goes up 200, 300, 500 %… so you hodl — you’re consequent in your decisions, you know that even if it’s gonna fall you’re not going to loose much, you’re probably still going to be in profit, you are safe. All amateurs always commit same mistakes — we overtrade, there’s no doubt about it. So you watch your portfolio, friends who got in because of you — are constantly asking about your opinion in regards of further price action — and you’re a bull man ! :) Moon incoming ! As you can expect price suddenly stops surging towards new highs and since you know about TA (Technical Analysis) a little bit already you assume that it’s just a correction, healthy movement THEY say. So your portfolio dropped by 38.2% — it’s a good moment to buy — wright ? BUY THE DIP I’ve heard somewhere, so you’re thinking of selling your car cause you know what’s coming :) Moon baby ! Over the years I’ve heard this story so often it kinda became boring yet fascinating. There are individuals out there that hodl, but for someone who looks at portfolio on a daily bases hodling is simply not an option. You get excited, you allow feelings and sentiment to take control, you have no idea about taking profits, overexposure, risk/reward ratios, Fibonacci retracements, support or resistance levels and you play with your money — you gamble without any idea of what is going to happen… you guess, thinking that every mistake is a lesson — trust me, it’s not until you really learn something.

After bull run comes bear market — these don’t take days nor weeks — it’s extended periods of time when people try to catch falling knives and they fail… they get burned once, twice, three times … and than they face three choices : never go back to CRYPTO AGAIN (since probably their initial portfolio dropped by 90%), HODL — as per initial idea or learn TA with understanding and implement strategy appropriate for you trading style.

I probably represent those who are simply unable to HODL all of their crypto assets, because of undertaken education in regards of trading. It’s amazing how much can you learn (also) from simple courses available online, a bit of free time and commitment.

Disclaimer : Not a millionaire yet — but definitely on a good route…