My top trading tip learned so far!
Of all the things I have learned in crypto trading this appears to be the most important lesson:
Stay calm and hold!
The crypto markets appear to be crashing right now and it is very tempting to move everything (other than Steem) into BTC and cash out immediately into Indonesian Rupiah.
...I have already moved some BTC & Dash into Waves, which was at the moment I made the decision, the only coin not dropping at such an alarming rate as the others.
Not sure if I made the right choice with this however as two hours later Waves had dropped 30%. Hmmmm.
Apparently I have not yet learned my own TOP TIP!
The New Mantra
Bitcoin will rise again.
Ethereum will rise again.
Dash will rise again.
Litecoin will rise again.
Steem will rise again.
And all I need to do is NOTHING!
Not selling my crypto in situations like this happens to be something I struggle with a little, so perhaps looking at this photo for a minute will help :)
It is a bamboo forest I found in Northern Bali, 2016
Blessings to you all on this fine Saturday!
I suppose indeed best is to do nothing. I actually think crypto will rise again, it'll have nothing to do with real value of the coins itself, it was not in the past and I'll predict it'll not for the (nearer) future. But please keep an eye on bubbles.
You can do the math on eg Steem yourself very easily. Take FB users value (approx 225$/active users) or WhatsApp users value (appr 40$/active user when they were purchased), and compare that with Steemit users value.
On the distributed storage coins these type of calculations are also fairly easy: take the market cap, take their advertised pricing models and calculate how many paying users they need. Also compare their pricing with the existing Dropbox, Amazon, Box and other cloud services. Oh, also calculate the energy costs, especially in the distributed models.
When investing: take those real (non crypto based) values and use that as the baseline for valuation of the coins offering similar services, or at least to have to potential to offer similar service (eg Steemit, is by far not similar to FB, Steemit is just a little baby that still need to find its ways, and still requires a LOT of investments to even come close to what FB has to offer, not only in terms of features, but also in terms of revenue streams).
When trading, well, anything goes I suppose, but you need to have your eyes focused on the (super) short term trends.
I followed you my friend because you appear very interesting based on your words here. Thank you for your in depth response to my post. All has been taken into consideration and I have copied your words here for future reference.
So, thanks again! And have a great Sunday :)
As far as I remember, the same mantra applies to all markets worldwide :)
haha! Yes indeed. Perhaps even a mantra for life.... stay calm!
Good mantra! And that photo of the bamboo forest is amazing!
Thanks! It certainly calms me down to say my mantra and look at this picture.
And remember how it felt to stand there in amongst all that bamboo :)
Nothing mattered. Just the beauty of THIS MOMENT
Right on...
@secter
Having looked at your account I want first to say thank you for the resteem :)
Also, might I suggest that you join my FB group Aspiring Steemit Whales & Dolphins. We have a very active community of helpful people and a bunch of documents to help you on your way.
Thank you.. I sent a request to join the group
Great! Be patient. My moderator is busy with many applications currently as we like to give you an 'official' introduction when we let you in. This helps the group become immediately aware of your steemit account username in order that they might follow & upvote you.
I am still waiting to be added to the FB group
Sorry for the delay. It is seriously busy right now with entries. I promise we will get to you. Did you receive a message with request to give your steemit username?
Thanks for your right on :) I will check your account out now....
I just invested in some more Steem, seeing as the price is so low now. It must go up again at some point!
Good time to invest in Steem for sure :)
mmmmmmmmmm, nature!!!!!!!! :)
Nothing better hey.
Except maybe driving an awesome vehicle :)
you can do it any time. but place where you live is great :)
So hard to sit in hold till the next halving 2020. It's the smart path thou
Many of my friends put their entire life savings into Bitcoin some years ago and consistently freak out when it drops. But the answer is always the same. Stay calm and hold :)
Yeah hold on to it. Relax and see a movie
Thanks bro. I did something even better than that.
The kids (who sleep in the same room as us) are thankfully deep sleepers!
Interesting mantra : )
Thanks!
I do have others :)
Really? Do share.
Nam Myōhō Renge Kyō
It is a Buddhist expression of determination, to embrace and manifest.
I chant the words with the kids on my chest.
They seem to love it :)
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thanks for letting me know :)