The dips are always a great time to buy. I suggest looking at the coins performance over the last few days when looking at investing in the dips. If it is a coin you already have and believe in, it’s a no brainer. If it is a coin that is new to you, be sure to do your research and try to determine where it may bottom out. I trade on Bittrex and they make it easy to place limit buy orders that allow you to set the price that you are willing to pay and if the coin gets to that price, your order typically gets filled.
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Unfortunately, you don’t. If it was easy to predict what is going to happen, we would already be rich, right? It’s part of the risk that comes with any investment. That’s why doing your own research is important. If a coin is up 500% in the last week or two, it could fall a long way. It’s easy to buy into the hype, but it’s a quick way to lose money. When I first started, I tried the “day trading” route. With the small amount of money I could afford to invest, I was shattered when I lost half of it in a matter of hours.
I went back to the drawing board and dug in hard with my research. I found coins that I could see a practical application for. I made sure that I believed in their technology. I split up the little money that I had left, and have let it sit. Even with the big dips that we have seen in the last few days, I have managed to get my holdings back up to my original investment.
I’m not looking to become a millionaire overnight. I’m planning for the future. It’s a tough path to take, when you see one of your coins drop big, but if you don’t panic and sell, you typically see it come back up. Investing is a marathon not a 100yd dash.
Be Smart, Do Your Own Research, Don’t Invest More Than You Are Willing To Lose, Hold Stong, And Be Patient!
Follow @trye17 for more cryptobasics, thoughts, stories, and memes.
I've bought 3 times now. Wish I had bought more around the $1 mark but still seems like a good time to buy.
The dips are always a great time to buy. I suggest looking at the coins performance over the last few days when looking at investing in the dips. If it is a coin you already have and believe in, it’s a no brainer. If it is a coin that is new to you, be sure to do your research and try to determine where it may bottom out. I trade on Bittrex and they make it easy to place limit buy orders that allow you to set the price that you are willing to pay and if the coin gets to that price, your order typically gets filled.
Follow @trye17 for more cryptobasics, thoughts, stories, and memes
Yeah, that makes sense... how do you know it isnt just the beginning of a larger dip though?
Unfortunately, you don’t. If it was easy to predict what is going to happen, we would already be rich, right? It’s part of the risk that comes with any investment. That’s why doing your own research is important. If a coin is up 500% in the last week or two, it could fall a long way. It’s easy to buy into the hype, but it’s a quick way to lose money. When I first started, I tried the “day trading” route. With the small amount of money I could afford to invest, I was shattered when I lost half of it in a matter of hours.
I went back to the drawing board and dug in hard with my research. I found coins that I could see a practical application for. I made sure that I believed in their technology. I split up the little money that I had left, and have let it sit. Even with the big dips that we have seen in the last few days, I have managed to get my holdings back up to my original investment.
I’m not looking to become a millionaire overnight. I’m planning for the future. It’s a tough path to take, when you see one of your coins drop big, but if you don’t panic and sell, you typically see it come back up. Investing is a marathon not a 100yd dash.
Be Smart, Do Your Own Research, Don’t Invest More Than You Are Willing To Lose, Hold Stong, And Be Patient!
Follow @trye17 for more cryptobasics, thoughts, stories, and memes.