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RE: Buy Low, Sell High

in #investing7 years ago

@taskmaster very right what you are saying! "If you cant spend an hour a week studying what is going on with each of your holdings, do not own them. Things can change very rapidly."

ANd something to add with crypto is that a week in crypto is like one year in the real world as most people know now.

Regards, @gold84

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The great thing about crypto....

You spend a week becoming an expert and the rest of your life trying to figure out what is going on.

I was so sure I understood exactly what was going on when I tried to day trade a few weeks ago. Three good trades and one very bad one later, and I was down nearly 30%. Then I sold most of my BTC before the futures came out because I was sure it would crash. I have no idea what I'm doing. Now I'm content just leave my fun money in there and I might look at it in a year or so.

And I recommend doing that with a balanced portfolio and keeping some dry powder for future purchases at bargain prices on the correction that's coming sooner or later.

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