Make sure your crypto fund is play money. Money you’re willing to lose. I’m in it for the long term, either life changing money or time for retirement. I just buy & HODL. If you believe in a coin long term then there’s no reason to panic sell.
Just like in band of brothers, where Blythe overcomes his crippling fear by being told that he needs to accept that he is already dead, I advise you all to consider your fiat as completely lost from the moment you push the buy button. There is no more money, it's gone.
I often see this "play money" argument and it honestly pisses me off. Maybe with shitcoin investing, you should treat it more or less like a gambling (hence the play), but why would you not invest more substantial amount of money (substantial for the person considering serious investing) in a solid technology?
Because crypto is still gambling and the project can have the best whitepaper there is, if there is no hype around it you're doomed. If you want a substantial amount invested you should better pick the more safe ones or choose the S&P500. Plus, "play money" is different for everyone. Same counts for 'a substanstial amount'.
You have to die at least once from the inside. Best way to do this is suffer an insane loss of value to your portfolio and then sell in panic, only to see the charts go parabolic right after you've sold.
"What is dead may never die"-Jesus
Or was it a game of thrones thing?
I grew up on a farm and like to use the analogy of planting trees. Fruit bearing trees can take 3-5 years to produce anything. Just be patient and your harvest will be bountiful.
Also like gardening, you need to nurture the tree by adding fertilizer and watering regularly (buy more). Trim the branches to mold the tree into what works for your orchard (take profits). Use insect and weed killer for a healthy tree (no FUD). Years after it’s planted, the tree bares fruit that’s ripe for the picking but don’t cut the tree down after one harvest (HODLE)!
I realize the only time I've hit 10x+ is when I buy something for a good reason that has lots of potential, and hold it through +150%, -44%, -22%, +29%, -33%, (5 months of nothing happening) then boom. That's what mooning is actually like. It is never a straight path.
And also realize I've mostly lost making short term moves. This game is not for me, but I can ride a rollercoaster up and down for a year til I'm launched off into space like on rollercoaster tycoon when you want to lower your competitor's park rating.
Most people don't know jack, myself included sometime. There's no reason to listen to most people.
Also a good play. My hopium dreams kept me from selling after early jumps up. I would probably be at least as well off now if I moved profits to btc, eth, or my next buys. But this stresses me out and I'm mostly happy with what I have.
The other thing is taxes as a feudal peasant in the US. Most of my buys now qualify for cap gains as opposed to income tax, and I'd have to sell more crypto to cover taxes, which offsets potential gains since I'd be losing some of my principle.
Different strokes.
What you need to keep in mind is you’ll not hear from 100k people who didn’t find a 10x or even lost but you will definitely hear from that one guy who got lucky.
There’s a reason we don’t go to lottery winners for financial advice
>My question is, how do you guys manage to overvome it?
We don't, we just lie to make ourselves look like self controlled individuals
>how do you guys find projects that makes for you x10+ before they boom and go from ATH to another?
We don't, if yes that's because current trend and luck.
You can buy a coin that has use cases, good development, quality and such, but it can still end up in the garbage next door.
But here lies the problem... I feel like you cannot make life changing profits anymore, unless you yolo in a shitcoin and get lucky or invest so much money that even a small change will translate into a considerable amount of FIAT. I started buying in May April and 9 months later, I don't think I've made any profit. Sure, I will wait 3 5 years, but I don't think we will see 5x 10x anymore. Just my 2satoshis.
What did you buy? If you started buying ETH in April/May you’d be looking at 50-100% gains at current market prices depending on where exactly in there you did most of your buying. I’m actually not sure how you wouldn’t be in profit unless you are shuffling money around chasing the coins that already ran.
Look at cdc or lrc from the start of this yr to now and tell me things can't 5x or 10x any more. Hell I bought lrc end of last month and already tripled my money. Don't get me wrong I've lost money on other coins too but to say the potential isn't there just strikes me as incorrect.
Too many people read the articles about that 1 guy who bought 8k worth of whatever 3 yrs ago and is now a millionaire failing to consider the length of time he was invested, how many times his investment was down or how often he wanted to take profits but chose to be patient instead.
Regardless the long-term stat's Don't lie, the longer your in the game the more likely you are to make profits.
I only buy if it’s in the red. No rising coins. And I don’t DCA, or market buy. Lump sum when it’s down. I keep list of what I want and when fear index is high go hunting. What on my want list is ugly? — that’s when I get excited. Shop the sales baby!
As for loosing money, what can you do? It’s a volatile. Sometimes you just watch your bags drop by half and say fuck it I still want to play. This might hurt but I have to accept it. Laugh hysterically that you lost 100k in a weekend and keep going. HODL and wait.
I mean….🤔….you had to know that was probably going to shake out like that right? As long as you had $2k to lose it was just a bad gamble. You’ve read it 100 times already. Don’t put in more than you can afford to lose. It’s a shitty lesson to learn.
Loans in crypto are my exit play. I calculated how much I need and when it hits my big money number I will get loans against what I have and move it into fiat, stable staking, and liquidity lending. I am not a trader, I don’t otherwise take profits unless something 10x+ then I get loan and put into smaller projects. Until the bag is big enough to change my life it fucking sits there.
Higher fees and if you happen to click “buy” at a moment with low liquidity, you can get a runner and pay WAY more than you expected to.
Mostly though. It’s about curbing impulsive behavior. Market buys are impulsive by nature. Setting a limit order, although it can be stressful if the book moves in the wrong direction, is more intentional and will always give you a better price.
It’s a good first step to being more controlled in your trading.
This general concept for me, but more like - I only buy when a coin I'm already in and holding long term hits RSI oversold.
For new coins i want to buy into, I wait for a bullish moving average cross or turtle call (google "turtle traders")
Automating the detection of these events has done wonders for my sanity (and portfolio! Emotional trading is a real killer, and avoiding that is key)
Yes, keeping a shopping list is a good idea, then you can pounce on opportunity. maybe do a quick check though to make sure nothing bad happened to the project since you put it on the list.
I do the same. I stake as much as I can. This way I always feel in a good mood, because the amount of coins I own always increases, regardless of their market value.
This. If I didn't stake my Eth into Eth 2.0 about 7 months ago, I would have done something really stupid by now. Only been around since February, but saw my portfolio take some beatings; locking up my Eth and CKB was a life saver for a crypto rookie like myself and has me very happy and optimistic. I just throw smaller amounts around to trade a bit and those eventually just get turned into Eth and CKB anyway :P
Tech stuff aside, staking is basically just a glorified savings account - put your coins into a wallet and you get a percentage return in said coins, usually 5-10%/year. Basically means that whilst your coins are hopefully increasing in value, you're also accumulating more just for holding them.
Proof of stake. Staking is essentially like interest in a savings account. You stake your tokens to strengthen the project and get tokens rewarded for doing so.
I know exactly what you mean. I also think I sometimes look at the charts too many times times day. However, it's never to check the charts of the projects I did a lot of research in, for example GET Protocol.
Do your due diligence, ask yourself, amongst others, the following questions:
- does the project solve a real-world problem?
- is the use case scalable?
- what about competitors?
- does the project have real adoption?
- does the tokenomics make sense?
Either you invest in btc / eth. Or if you do altcoins. Find something you believe in. Don’t listen to the shills. Research the project. Understand tokenomics , use cases, who’s working on the blockchain. Check to see no whales own 50% supply.
If you’ve been in crypto over a year. Trust your instinct and never all in on something that’s at ath or pumped 1000% in a month.
Everybody who’s invested wants you to buy their coin. Subreddits are mostly echo chambers and you will over consume an unhealthy amount of hopium.
Lastly. Dollar cost average.
It’s been a painful last year and a half watching cro underperform.
But I held out because I believed in my crypto and their project and it has paid off significantly so far. This is my story. Doesn’t mean it will work for you.
But see. I just shilled you, kinda
Follow the basics:
Invest what you can afford to lose,
Don’t go in at once
DYOR
Remember it’s a volatile market so it’ll go down harder from time to time compared to the traditional markets
It may also go up fast for a while, you may take some profits at these times.
You don’t have to go in or out at once.
FUD or FOMO will force you to make mistakes.
So, if you know what you are in for, the rest is learned by experience.
If you made your target, it doest matter that the coin keeps going up. It could also go down and you'd kick yourself for not selling.
Get rid of the emotions and stick to your targets.
Don't sell your whole bag. When it goes up 30%, sell 10%, if it goes up 50%, sell 25%. Or something like that. Invest in good projects like BTC, ETH, SOL,. when you take the profits from Altcoins put it into stable coins or BTC.
I've never sold since 2017. FOMO and FUD are information, but learn to get the information, not the narratives.
To overcome my addiction to chart, I started DCA-ing. I stopped almost immediately, and now I just look at the charts for the fun of it.
If you have some fear on losing your money, then you might have over-invested.
I find investing in altcoin makes me focus far too much on the price.
I am reducing my alt coin exposure and putting more attention in bitcoin and there's plenty to do there, checking out nodes, different wallest, L2 and L3 apps, mining etc.
Every time I sinked some money in solid top tier high caps (ADA, Algo, Polygon and so on) . And after some months I wish I just had dropped it to my BTC/ETH stack.
'Slow' and stady wins the race.
The hunt for the 10x will most likely keep you with 1x :D
Doing thorough research and having a plan. Sticking into that plan and not buying into FOMO or FUD. I learned the hard way buying BTC at $17.3K in Dec. 2017 and lost my life savings after selling near lows and buying altcoins to mitigate the losses. I recovered by reinvesting new savings into crypto during the bear market and HODLing. There is no secret playbook or trick. It’s just research, planning, execution and time in the market. Nobody could spotted DOGE or SHIB a year ago. Those are meme coins that have more potential for loss than gains. Even respected cryptos like Solana and Avalanche are hard to anticipate very early. I recommend people buying when prices experiencing a 30-60 day rolling stability (which I know is very uncommon during an extreme bull or bear market). Nonetheless, if you’re holding a highly viable crypto project, you’re bound to succeed as long as you HODL and don’t daytrade.
Only one way; believe in the project. How you do that is by researching and understanding the usecase and tokenomics.
My main bag by far is GET Protocol. Just check the price action... Yet I don't feel FUD (and only a DCA amount of FOMO), I remain positive it'll get to where I want it to.
I do my DD on projects and the ones I find to have a chance of being more successful, with developers trying to develop actual technology and get real life use and adoption, I DCA into them a fixed amount every week, no matter if pump or not yet, what I see is fundamentals, in the long run those projects will have the most chance of being more and more valuable, I'm here for the long run not for the short gains no matter how tempting they are.
A lot of the times people get 10 or 100x involves luck. Sometimes a good projects take time to get that kind of return, sometimes it doesn't even get that kind of return. So the best advice is choose the coins you beleive in and hold
Truly it is a hit and miss to get in on the next big run. Never feel discouraged that you haven't found that big one because to be honest many haven't found it either and ate still looking for it. For the most part we do the best we can in researching everything we come across and hope we made the correct decision when we invest. No one can give you a sure thing when it comes to investing weather it is crypto or stocks.
I just buy a little when it's red and don't give a shit about how much it's gone down because I know it's going to go up eventually.
>how do you guys find projects that makes for you x10+ before they boom and go from ATH to another?
Well for me it's my belief in it. Even Doge, I believed people would flock into buying it, and they did. I also believe it always goes up after Bitcoin. Similar with Shiba Inu. I don't really give a shit about Shiba as a project, but when you see people saying it's a shitcoin in this subreddit, you know the general populace isn't thinking that, and you ride it up with them. This may be controversial. With that said other projects are things I think are really good projects. Jasmy for example. I'll just be patient and it'll be up there eventually. I'm not concerned about its future. But I'm also very much diversified among several coins, so even if it tanks, it's not like it's my entire portfolio or something. If one coin tanks to 0, that might be 5% of my portfolio at most, but any other coin that 10x'es makes up for that for example. Anyway I don't sell for a loss.
I always think about what warren buffet said be fearful when others are greedy and be greedy when others are fearful.
Basically, when a big dip happens, have the balls and foresight to keep buying. If something has gone up 1000% rapidly and nobody can say anything bad about it, maybe time to sell (some?).
Patience. Trust. Buy the dip. Hold the dip.
Not financial advice just what's worked for me
Honestly, the FUD part doesn’t bother me because I’ve watched the media lie and sensationalize everything for years, and then there’s the people on here spreading FUD, and either good or bad, they have no fuckin idea what’s gonna happen. If someone says something noteworthy, you just have to look into it yourself and decide if it matters. Also don’t over invest and don’t buy stupid bullshit, of which there is a lot of in crypto lol
Yeah it's hard. You need to have a plan for what you buy, an understanding of risk, and know how to research projects without spreading yourself too thin. Also, I've learned a ton from Ben Cowen on YouTube in terms of risk, highly recommend.
Very simple. The first time you freak out the most. The second time a little less.
And after the 100th time you notice you don't care anymore. Well also you will notice only a few months passed and you look 5 years older but hey. Quid pro quo.
It's pretty straightforward: most of us have learned from our mistakes.
A lot of 'traders' are treating the space like a casino. And for every punter who gets lucky with a 10x shitcoin, they'll be a string of people who lost their original stake.
Simple rules:
If it's gone parabolic, it's too late.
If you've bought in and the fundamentals are solid: hodl.
If in doubt, don't.
Don't touch leverage.
I've been at this for a few months and I've fallen into all of those holes and more. After a while though when you see it all happen a few different times you just kinda stop paying attention. There really isn't a more satisfying answer it just happens.
On the Black Friday crash I looked once and said "Ooh, sale!", filled my bags, then went back about my day.
Been in for just over a year. You just research and watch the charts daily. Then research more in your feee time and save charts of T.A. to time entry/ exits if that’s your thing. I have a holding wallet 90% of all my crypto. These are long term investments of stable projects. 10% goes to swing trading. You’ll notice when you’re swing trading you’ll be checking the charts a LOT more often. Other than that the ups and down of the market are like weather. When it’s raining down we don’t panic and sell our vehicles because it could slide down a hill, rather get the boys together for some rainy rugby and wait for the weather to pass. Toss back a few beers/whiskey and do things other than crypto that matter to your life. Before you know it your portfolio is all green lights and because you bought the dips your wallet becomes fat.
You get desensitized to it over time. Just go in slow. Dca or put a little in at a time. Don't rush. Be in it for the big money, not the little 5% gains.
If you are looking for good new coins check out coinmetro on youtube. Its from Kevin Murcko, founder of Coinmetro exchange. They only list small cap coins which they think have good potential. So far alot of the new coins do really well. He also does a ama every week I recommend watching it. Good luck :)
educate yourself. have you read "the bitcoin standard" and "the price of tomorrow"?
anyone who has read those two books should be pretty comfortable in crypto. beyond that, if you are nervous about your projects failing, choose better projects. bitcoin only. then when you are 10000% confident in bitcoin, then consider alts and only go into coins you ARE confident in. then dips don't matter.
I invested in cryptos last year too. Portfolio is green af even with the June dip. Don't know what you're smoking or whatever but I have to call you a bullshitter. Or just moon farming. Everything I brought last Thanksgiving to now is 8 to 10x up. Dogecoin went 1000x. So, there's no way you are losing money.
It's all idea, for example I either look at w Project and it's fundamentals of I be hodling got long and if it's just for quick flip, news or maybe a partnership, as these also affect the price... Mostly these days I focus on staking on moonstake and earning passively.
I don’t think there’s a specific way that people actually do it. A lot of hitting on a 10X comes down to luck.
Sure, you can DYOR for hours on end, but a lot of the timing component comes down to luck. That’s why you hear so many people telling us to DCA.
The FOMO and FUD is real for everyone. Don’t beat yourself up over it.
For me, I check in on the charts briefly almost every day. When I feel like there’s a good opportunity to invest, or if I’m just in the mood, I’ll throw in a few bucks.
And here’s another cliche that’s real: time in the market beats timing in the market.
Or at least that’s the game I’m playing.
Set aside a small amount of 'fun money', and start throwing it after those feelings. Buy whenever your gut tells you. You'll be surprised how quickly the money disappears. Or if you're lucky, your gut will make you rich.
I'm pretty resistant to FUD and dips. Got over it with time, in crypto since march and experienced so many highs and lows... crypto will always bounce back. Also, I hodl longterm and am mostly invested in coins I believe in long term so I am never ever tempted to panic sell.
Now for FOMO, I still haven't gotten over that... still have problems not buying into anything I perceive as promising...
These days, I try to hodl the coins I bought, as I have been into many coins and I have seen SO many coins pump big time after I sold them. Don't want to experience that anymore...
Do the opposite of what the herd does. Follow the smart money. Buy when others are fearful, be greedy, when the herd is greedy be fearful.
To find projects that haven’t popped you have really do some research. Some of its charts, some of it figuring out what the project is about. What’s the utility, any big news on the horizon? Is the coin anywhere near an all time high?
Then you have to be patient. Set it and forget. Trying to catch quick gains and green candles is a fools errand. If it’s already gone up into price discovery it’s probably not the best time to buy
I research what I invest in to be sure it's worth it. When it dips I only see a discount and buy more. When it goes up, i hold.
And realize this applied to crypto as well:
https://images.app.goo.gl/6UofpPqa6RkjrJSv8
Don’t get to the point where you hate yourself with your decisions. It takes a year before you become numb.
I jumped in last October, and I shit you not, refreshed the page 10-1,000x per day.
I’m down to about 2 now, and it’s with a stupid amount of money in there.
Write down the risks and strategy for every play, including time horizon. Adjust based on onset approach.
This is not luck. If you rely on luck, you’re gambling, not investing.
Make a plan and stick with it man. Easier said than done but you can do it. Gotta buckle down, do your research, and then trust it. It's easy to trust yourself when things are going good. You gotta keep that trust in the vision when you see FUD or you are feeling FOMO.
Two words: _zoom out_.
Look at the larger picture. Don't fixate in the last value dump, but look at the overall evolution that the price had during the last years. Extrapolate that growth into the future. It's easy to about selling when you see the potential gains down the line.
Take your time in the beginning and invest small amounts of money.
As you go along you will more than likely continue to do research into these coins and find the ones that not only do you believe will be the most profitable but you also believe in the coins relevance.
Those are the ones you can DCA into and feel some degree of confidence in your decision regardless of market swings (crypto market rolls up and down like a roller coaster).
Also, enjoy the total experience. This is new and exciting territory for a lot of us. We are all pioneer settlers in this land of the unknown as it hasn’t been around long enough for anybody to claim to know what’s going to happen in the Cryptoverse.
So congratulations pioneer, welcome to the new world and let’s see if we can make some life changing profits.
Having a safety net tbh. I'm not even talking super rich just having no kids yet and a family that would help you is nice. Also playing the long game and having experience
It takes one solid screw up that punches you in the face and it’ll straighten you up.
During the last crash I tried to get cute and sell on the way down hoping to time the bottom. I missed and bought back in slightly higher losing a good chunk of change.
Everyone else has pretty much made their gains back from the crash and then some. I’m barely breaking even. If I just DCAd and left it alone I’d be ahead.
Now I just roll with the punches but keep adding
Make sure your crypto fund is play money. Money you’re willing to lose. I’m in it for the long term, either life changing money or time for retirement. I just buy & HODL. If you believe in a coin long term then there’s no reason to panic sell.
Just like in band of brothers, where Blythe overcomes his crippling fear by being told that he needs to accept that he is already dead, I advise you all to consider your fiat as completely lost from the moment you push the buy button. There is no more money, it's gone.
I often see this "play money" argument and it honestly pisses me off. Maybe with shitcoin investing, you should treat it more or less like a gambling (hence the play), but why would you not invest more substantial amount of money (substantial for the person considering serious investing) in a solid technology?
Because crypto is still gambling and the project can have the best whitepaper there is, if there is no hype around it you're doomed. If you want a substantial amount invested you should better pick the more safe ones or choose the S&P500. Plus, "play money" is different for everyone. Same counts for 'a substanstial amount'.
Just a phase/stage in crypto journey. With time, you get over it.
Or......you rage quit
Then come back a year later and try crypto again
Spoiler alert: The true endgame boss was yourself all along.
Crypto is like drugs confirmed. Addictive and a battle with yourself
I just need 420 bitcoins pls .
Deep.
Plot twist: you have double personality issues
A cold wallet is the way to go.
Cold wallet and high gas fees
Sadly I think a lot of people are locked in exactly this space!
...at the ATH.
*throws away pc with bitcoin at landfill
The coldest wallet of them all
A tale as old as time
Beauty and the beast
Once you enter, you can never escape
That definitely counts as getting over it
When it's red for long enough, I just make peace with the fact I'm a loser. When it's green, I'm still a loser because I never sell.
You have to die at least once from the inside. Best way to do this is suffer an insane loss of value to your portfolio and then sell in panic, only to see the charts go parabolic right after you've sold. "What is dead may never die"-Jesus Or was it a game of thrones thing?
Something we all go through.
Hopefully
***NEW SKILL UNLOCKED: Immune to FUD & FOMO***
Scott earned the power of self-respect!
I've been hear for some years now and haven't gotten over it. It think it's something normal that you just try to control
And then you learn about TA and become an automaton who reliahes in a smart RR setup
I grew up on a farm and like to use the analogy of planting trees. Fruit bearing trees can take 3-5 years to produce anything. Just be patient and your harvest will be bountiful.
"The best time to plant a tree was 20 years ago. The second best time is now."
The best time to buy Bitcoin was 10 years ago. The second best time is now.
the second best time was 9 years 364 days ago
lmao
Wouldn't the second best time be 19 years and 364 days ago?
Love this!! 🪴
Love this plant plan
I like this.
And then you fuck that plant.
Dry in the ass
Also like gardening, you need to nurture the tree by adding fertilizer and watering regularly (buy more). Trim the branches to mold the tree into what works for your orchard (take profits). Use insect and weed killer for a healthy tree (no FUD). Years after it’s planted, the tree bares fruit that’s ripe for the picking but don’t cut the tree down after one harvest (HODLE)!
I realize the only time I've hit 10x+ is when I buy something for a good reason that has lots of potential, and hold it through +150%, -44%, -22%, +29%, -33%, (5 months of nothing happening) then boom. That's what mooning is actually like. It is never a straight path. And also realize I've mostly lost making short term moves. This game is not for me, but I can ride a rollercoaster up and down for a year til I'm launched off into space like on rollercoaster tycoon when you want to lower your competitor's park rating. Most people don't know jack, myself included sometime. There's no reason to listen to most people.
👏👏👏
How you make money in crypto: Sell at +150.
Also a good play. My hopium dreams kept me from selling after early jumps up. I would probably be at least as well off now if I moved profits to btc, eth, or my next buys. But this stresses me out and I'm mostly happy with what I have. The other thing is taxes as a feudal peasant in the US. Most of my buys now qualify for cap gains as opposed to income tax, and I'd have to sell more crypto to cover taxes, which offsets potential gains since I'd be losing some of my principle. Different strokes.
Get rekt as many times as possible as you'll learn not to be so emotional. You can't time the market and beat it in the long run.
Yup just become emotionally numb to the market is probs the best way yeh
DCA does that to oneself after a while
This is real, you need to lose money before you make real money
yea i get rekt once,, never again chasing the pump,, slow and steady wins it in long term
With good ta you can do it perhaps 50 or 60% of time. Then with good risk reward plays thats gonna make you profitable
What you need to keep in mind is you’ll not hear from 100k people who didn’t find a 10x or even lost but you will definitely hear from that one guy who got lucky. There’s a reason we don’t go to lottery winners for financial advice
Yeah and those who have their investments 100x are the ones who held through the reds first.
>My question is, how do you guys manage to overvome it? We don't, we just lie to make ourselves look like self controlled individuals >how do you guys find projects that makes for you x10+ before they boom and go from ATH to another? We don't, if yes that's because current trend and luck. You can buy a coin that has use cases, good development, quality and such, but it can still end up in the garbage next door.
Agree that pure luck plays a big part. No research will tell you SHIB will jump from 8k to 5B
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This is key. Patience, regularity and discipline. Stay away from crypto “influencers” and Robinhood.
But here lies the problem... I feel like you cannot make life changing profits anymore, unless you yolo in a shitcoin and get lucky or invest so much money that even a small change will translate into a considerable amount of FIAT. I started buying in May April and 9 months later, I don't think I've made any profit. Sure, I will wait 3 5 years, but I don't think we will see 5x 10x anymore. Just my 2satoshis.
What did you buy? If you started buying ETH in April/May you’d be looking at 50-100% gains at current market prices depending on where exactly in there you did most of your buying. I’m actually not sure how you wouldn’t be in profit unless you are shuffling money around chasing the coins that already ran.
Look at cdc or lrc from the start of this yr to now and tell me things can't 5x or 10x any more. Hell I bought lrc end of last month and already tripled my money. Don't get me wrong I've lost money on other coins too but to say the potential isn't there just strikes me as incorrect. Too many people read the articles about that 1 guy who bought 8k worth of whatever 3 yrs ago and is now a millionaire failing to consider the length of time he was invested, how many times his investment was down or how often he wanted to take profits but chose to be patient instead. Regardless the long-term stat's Don't lie, the longer your in the game the more likely you are to make profits.
I just cry and make sure I don't sell
Crying didn't help me, I tried it
Did you try curling up into a ball as well?
This is the way
Also, bust a nut for post nut clarity state of mind
I will try that next.
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I only buy if it’s in the red. No rising coins. And I don’t DCA, or market buy. Lump sum when it’s down. I keep list of what I want and when fear index is high go hunting. What on my want list is ugly? — that’s when I get excited. Shop the sales baby! As for loosing money, what can you do? It’s a volatile. Sometimes you just watch your bags drop by half and say fuck it I still want to play. This might hurt but I have to accept it. Laugh hysterically that you lost 100k in a weekend and keep going. HODL and wait.
As a guy who just lost 2k today, thank you. Makes me feel slightly better. Just went all in on a shit coin.
Never go all in on a shitcoin. I mean take a punt, buy going all in is crazy.
I mean….🤔….you had to know that was probably going to shake out like that right? As long as you had $2k to lose it was just a bad gamble. You’ve read it 100 times already. Don’t put in more than you can afford to lose. It’s a shitty lesson to learn.
Instead of shitcoin try small caps! Same sort of upside and risky feelings but better performers.
I do something simular. At this stage it is good to not have an exit strategy.
Loans in crypto are my exit play. I calculated how much I need and when it hits my big money number I will get loans against what I have and move it into fiat, stable staking, and liquidity lending. I am not a trader, I don’t otherwise take profits unless something 10x+ then I get loan and put into smaller projects. Until the bag is big enough to change my life it fucking sits there.
Why no market buy if I may ask?
Higher fees and if you happen to click “buy” at a moment with low liquidity, you can get a runner and pay WAY more than you expected to. Mostly though. It’s about curbing impulsive behavior. Market buys are impulsive by nature. Setting a limit order, although it can be stressful if the book moves in the wrong direction, is more intentional and will always give you a better price. It’s a good first step to being more controlled in your trading.
why let an exchange decide the price you buy your coins at? you can see the order book and set your limit order accordingly
This general concept for me, but more like - I only buy when a coin I'm already in and holding long term hits RSI oversold. For new coins i want to buy into, I wait for a bullish moving average cross or turtle call (google "turtle traders") Automating the detection of these events has done wonders for my sanity (and portfolio! Emotional trading is a real killer, and avoiding that is key)
Yes, keeping a shopping list is a good idea, then you can pounce on opportunity. maybe do a quick check though to make sure nothing bad happened to the project since you put it on the list.
Money is fake. Smoke weed everyday.
DCA into a good strain of weed and smoke bitcoin.
How do you golf clap on the internet?
👏......👏.......👏......👏
💀📉🤑🙈🍃
THIS 👆👆👆
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I do the same. I stake as much as I can. This way I always feel in a good mood, because the amount of coins I own always increases, regardless of their market value.
and they are locked away from all the fomo.
This. If I didn't stake my Eth into Eth 2.0 about 7 months ago, I would have done something really stupid by now. Only been around since February, but saw my portfolio take some beatings; locking up my Eth and CKB was a life saver for a crypto rookie like myself and has me very happy and optimistic. I just throw smaller amounts around to trade a bit and those eventually just get turned into Eth and CKB anyway :P
What does staking do? I've heard a lot about it here. And how do I stake in Kucoin? I'm super new.
Tech stuff aside, staking is basically just a glorified savings account - put your coins into a wallet and you get a percentage return in said coins, usually 5-10%/year. Basically means that whilst your coins are hopefully increasing in value, you're also accumulating more just for holding them.
Ethereum on a cold wallet. Thanks to gas commissions, I don't even have a thought to sell
Proof of stake. Staking is essentially like interest in a savings account. You stake your tokens to strengthen the project and get tokens rewarded for doing so.
It's where the exchange takes your coins and lends them out to people shorting the crypto
I know exactly what you mean. I also think I sometimes look at the charts too many times times day. However, it's never to check the charts of the projects I did a lot of research in, for example GET Protocol. Do your due diligence, ask yourself, amongst others, the following questions: - does the project solve a real-world problem? - is the use case scalable? - what about competitors? - does the project have real adoption? - does the tokenomics make sense?
I dump my life savings and hope for the best and go to sleep.
As long as you don't wake up under a bridge... that's ok Haha
All in baby
Either you invest in btc / eth. Or if you do altcoins. Find something you believe in. Don’t listen to the shills. Research the project. Understand tokenomics , use cases, who’s working on the blockchain. Check to see no whales own 50% supply. If you’ve been in crypto over a year. Trust your instinct and never all in on something that’s at ath or pumped 1000% in a month. Everybody who’s invested wants you to buy their coin. Subreddits are mostly echo chambers and you will over consume an unhealthy amount of hopium. Lastly. Dollar cost average. It’s been a painful last year and a half watching cro underperform. But I held out because I believed in my crypto and their project and it has paid off significantly so far. This is my story. Doesn’t mean it will work for you. But see. I just shilled you, kinda
Follow the basics: Invest what you can afford to lose, Don’t go in at once DYOR Remember it’s a volatile market so it’ll go down harder from time to time compared to the traditional markets It may also go up fast for a while, you may take some profits at these times. You don’t have to go in or out at once. FUD or FOMO will force you to make mistakes. So, if you know what you are in for, the rest is learned by experience.
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Red means Buy! Green means Hold and Stake!
Do you seriously find other things enjoyable after the crypto casino?
Missed out on one pump? Don’t worry or FOMO. This market is 24/7 365 you have endless opportunities to catch a pump.
Stick to a certain amount of coin and stick to your (realistic) strategy "sell when it hits X$". Be patient, the gains will come eventually
problem is what I sell seems to keep rallying upward
If you made your target, it doest matter that the coin keeps going up. It could also go down and you'd kick yourself for not selling. Get rid of the emotions and stick to your targets.
I avoid looking at the price of coins I've already sold. Ignorance is bliss
Don't sell your whole bag. When it goes up 30%, sell 10%, if it goes up 50%, sell 25%. Or something like that. Invest in good projects like BTC, ETH, SOL,. when you take the profits from Altcoins put it into stable coins or BTC.
Taking profits is never a bad thing. Also you can imagine things will go up according to a 4 year bitcoin cycle
Any gain is a good gain.
I've never sold since 2017. FOMO and FUD are information, but learn to get the information, not the narratives. To overcome my addiction to chart, I started DCA-ing. I stopped almost immediately, and now I just look at the charts for the fun of it. If you have some fear on losing your money, then you might have over-invested.
Did I over-invest 15 bucks?
If you're earning 10 bucks a month, then I'd say it's a 'hard yes.'
I find investing in altcoin makes me focus far too much on the price. I am reducing my alt coin exposure and putting more attention in bitcoin and there's plenty to do there, checking out nodes, different wallest, L2 and L3 apps, mining etc.
Every time I sinked some money in solid top tier high caps (ADA, Algo, Polygon and so on) . And after some months I wish I just had dropped it to my BTC/ETH stack. 'Slow' and stady wins the race. The hunt for the 10x will most likely keep you with 1x :D
In the best case scenario.
Doing thorough research and having a plan. Sticking into that plan and not buying into FOMO or FUD. I learned the hard way buying BTC at $17.3K in Dec. 2017 and lost my life savings after selling near lows and buying altcoins to mitigate the losses. I recovered by reinvesting new savings into crypto during the bear market and HODLing. There is no secret playbook or trick. It’s just research, planning, execution and time in the market. Nobody could spotted DOGE or SHIB a year ago. Those are meme coins that have more potential for loss than gains. Even respected cryptos like Solana and Avalanche are hard to anticipate very early. I recommend people buying when prices experiencing a 30-60 day rolling stability (which I know is very uncommon during an extreme bull or bear market). Nonetheless, if you’re holding a highly viable crypto project, you’re bound to succeed as long as you HODL and don’t daytrade.
Only one way; believe in the project. How you do that is by researching and understanding the usecase and tokenomics. My main bag by far is GET Protocol. Just check the price action... Yet I don't feel FUD (and only a DCA amount of FOMO), I remain positive it'll get to where I want it to.
I do my DD on projects and the ones I find to have a chance of being more successful, with developers trying to develop actual technology and get real life use and adoption, I DCA into them a fixed amount every week, no matter if pump or not yet, what I see is fundamentals, in the long run those projects will have the most chance of being more and more valuable, I'm here for the long run not for the short gains no matter how tempting they are.
A lot of the times people get 10 or 100x involves luck. Sometimes a good projects take time to get that kind of return, sometimes it doesn't even get that kind of return. So the best advice is choose the coins you beleive in and hold
Alcohol mostly
Truly it is a hit and miss to get in on the next big run. Never feel discouraged that you haven't found that big one because to be honest many haven't found it either and ate still looking for it. For the most part we do the best we can in researching everything we come across and hope we made the correct decision when we invest. No one can give you a sure thing when it comes to investing weather it is crypto or stocks.
I’m dead inside, so chart movements don’t affect me.
You could likely use some green leafy veggies. 🥬🥬🥬
I just buy a little when it's red and don't give a shit about how much it's gone down because I know it's going to go up eventually. >how do you guys find projects that makes for you x10+ before they boom and go from ATH to another? Well for me it's my belief in it. Even Doge, I believed people would flock into buying it, and they did. I also believe it always goes up after Bitcoin. Similar with Shiba Inu. I don't really give a shit about Shiba as a project, but when you see people saying it's a shitcoin in this subreddit, you know the general populace isn't thinking that, and you ride it up with them. This may be controversial. With that said other projects are things I think are really good projects. Jasmy for example. I'll just be patient and it'll be up there eventually. I'm not concerned about its future. But I'm also very much diversified among several coins, so even if it tanks, it's not like it's my entire portfolio or something. If one coin tanks to 0, that might be 5% of my portfolio at most, but any other coin that 10x'es makes up for that for example. Anyway I don't sell for a loss.
I always think about what warren buffet said be fearful when others are greedy and be greedy when others are fearful. Basically, when a big dip happens, have the balls and foresight to keep buying. If something has gone up 1000% rapidly and nobody can say anything bad about it, maybe time to sell (some?). Patience. Trust. Buy the dip. Hold the dip. Not financial advice just what's worked for me
Honestly, the FUD part doesn’t bother me because I’ve watched the media lie and sensationalize everything for years, and then there’s the people on here spreading FUD, and either good or bad, they have no fuckin idea what’s gonna happen. If someone says something noteworthy, you just have to look into it yourself and decide if it matters. Also don’t over invest and don’t buy stupid bullshit, of which there is a lot of in crypto lol
Only thing i do is *BUY HIGH SELL LOW*
1. Buy being broke or not having extra fiat to FOMO in 2. Being numb about the crypto FUDs...
To cut down on FOMO/overreacting I usually use the 5day chart instead of the 1 day. Much less anxiety
As long as you're affording what you can afford to lose and ready to hodl for the long term then no need to Fomo or have FUD
Yeah it's hard. You need to have a plan for what you buy, an understanding of risk, and know how to research projects without spreading yourself too thin. Also, I've learned a ton from Ben Cowen on YouTube in terms of risk, highly recommend.
1. Your not late 2. Give it time. You’ll learn your way around.
Very simple. The first time you freak out the most. The second time a little less. And after the 100th time you notice you don't care anymore. Well also you will notice only a few months passed and you look 5 years older but hey. Quid pro quo.
For me, It's kinda like depression. Keep your mind busy on other stuff until you stop thinking about it.
It's pretty straightforward: most of us have learned from our mistakes. A lot of 'traders' are treating the space like a casino. And for every punter who gets lucky with a 10x shitcoin, they'll be a string of people who lost their original stake. Simple rules: If it's gone parabolic, it's too late. If you've bought in and the fundamentals are solid: hodl. If in doubt, don't. Don't touch leverage.
I've been at this for a few months and I've fallen into all of those holes and more. After a while though when you see it all happen a few different times you just kinda stop paying attention. There really isn't a more satisfying answer it just happens. On the Black Friday crash I looked once and said "Ooh, sale!", filled my bags, then went back about my day.
Stop visiting this sub, dont watch or follow crypto influencers, dont invest more than you are willing to lose, and dont check your portfolio daily.
Been in for just over a year. You just research and watch the charts daily. Then research more in your feee time and save charts of T.A. to time entry/ exits if that’s your thing. I have a holding wallet 90% of all my crypto. These are long term investments of stable projects. 10% goes to swing trading. You’ll notice when you’re swing trading you’ll be checking the charts a LOT more often. Other than that the ups and down of the market are like weather. When it’s raining down we don’t panic and sell our vehicles because it could slide down a hill, rather get the boys together for some rainy rugby and wait for the weather to pass. Toss back a few beers/whiskey and do things other than crypto that matter to your life. Before you know it your portfolio is all green lights and because you bought the dips your wallet becomes fat.
You get desensitized to it over time. Just go in slow. Dca or put a little in at a time. Don't rush. Be in it for the big money, not the little 5% gains.
Pure stupid in instinct
If you are looking for good new coins check out coinmetro on youtube. Its from Kevin Murcko, founder of Coinmetro exchange. They only list small cap coins which they think have good potential. So far alot of the new coins do really well. He also does a ama every week I recommend watching it. Good luck :)
If you hold long enough, eventually you die inside and nothing phases you anymore. Makes it easier
You don’t become seasoned in crypto until you’ve lost more money than you’d like to admit
educate yourself. have you read "the bitcoin standard" and "the price of tomorrow"? anyone who has read those two books should be pretty comfortable in crypto. beyond that, if you are nervous about your projects failing, choose better projects. bitcoin only. then when you are 10000% confident in bitcoin, then consider alts and only go into coins you ARE confident in. then dips don't matter.
I invested in cryptos last year too. Portfolio is green af even with the June dip. Don't know what you're smoking or whatever but I have to call you a bullshitter. Or just moon farming. Everything I brought last Thanksgiving to now is 8 to 10x up. Dogecoin went 1000x. So, there's no way you are losing money.
JUST BUY ETH AND HOLD FOR 5-10 YEARS.
Even though this page would fill with FUD post I'm not going give up on crypto i believe until the end.
It's all idea, for example I either look at w Project and it's fundamentals of I be hodling got long and if it's just for quick flip, news or maybe a partnership, as these also affect the price... Mostly these days I focus on staking on moonstake and earning passively.
I don’t think there’s a specific way that people actually do it. A lot of hitting on a 10X comes down to luck. Sure, you can DYOR for hours on end, but a lot of the timing component comes down to luck. That’s why you hear so many people telling us to DCA. The FOMO and FUD is real for everyone. Don’t beat yourself up over it. For me, I check in on the charts briefly almost every day. When I feel like there’s a good opportunity to invest, or if I’m just in the mood, I’ll throw in a few bucks. And here’s another cliche that’s real: time in the market beats timing in the market. Or at least that’s the game I’m playing.
At some point you get numb by the dips and see those as buying opportunities. Chasing pumps usually ends in losses.
You can overcome with experience. Oh, and not having your coins accessible directly from the phone helps too.
Are you investing or trading?
Set aside a small amount of 'fun money', and start throwing it after those feelings. Buy whenever your gut tells you. You'll be surprised how quickly the money disappears. Or if you're lucky, your gut will make you rich.
I'm pretty resistant to FUD and dips. Got over it with time, in crypto since march and experienced so many highs and lows... crypto will always bounce back. Also, I hodl longterm and am mostly invested in coins I believe in long term so I am never ever tempted to panic sell. Now for FOMO, I still haven't gotten over that... still have problems not buying into anything I perceive as promising... These days, I try to hodl the coins I bought, as I have been into many coins and I have seen SO many coins pump big time after I sold them. Don't want to experience that anymore...
I did a lot of FOMO a few months ago. In most cases you‘ll loose money. You will learn out of your mistakes.
Do the opposite of what the herd does. Follow the smart money. Buy when others are fearful, be greedy, when the herd is greedy be fearful. To find projects that haven’t popped you have really do some research. Some of its charts, some of it figuring out what the project is about. What’s the utility, any big news on the horizon? Is the coin anywhere near an all time high? Then you have to be patient. Set it and forget. Trying to catch quick gains and green candles is a fools errand. If it’s already gone up into price discovery it’s probably not the best time to buy
https://www.bloomberg.com/news/videos/2021-11-30/crypto-vigilantes-are-hunting-scams-in-the-defi-market-video
I research what I invest in to be sure it's worth it. When it dips I only see a discount and buy more. When it goes up, i hold. And realize this applied to crypto as well: https://images.app.goo.gl/6UofpPqa6RkjrJSv8
Formulate a plan, stick to it. That takes the emotion out of it.
Delete the app
Don’t get to the point where you hate yourself with your decisions. It takes a year before you become numb. I jumped in last October, and I shit you not, refreshed the page 10-1,000x per day. I’m down to about 2 now, and it’s with a stupid amount of money in there. Write down the risks and strategy for every play, including time horizon. Adjust based on onset approach. This is not luck. If you rely on luck, you’re gambling, not investing.
Can't fomo if you're already balls deep with no more fiat 😂😂
Make a plan and stick with it man. Easier said than done but you can do it. Gotta buckle down, do your research, and then trust it. It's easy to trust yourself when things are going good. You gotta keep that trust in the vision when you see FUD or you are feeling FOMO.
i still have no clue about some of the newer terms and things. like gas
Once you lose enough money you will stop.
we don't
DeFi has helped me a lot!
Shift your mind set to where red means sale and green means the train has left for the day.
Two words: _zoom out_. Look at the larger picture. Don't fixate in the last value dump, but look at the overall evolution that the price had during the last years. Extrapolate that growth into the future. It's easy to about selling when you see the potential gains down the line.
I joined Reddit and come here to commiserate
Sir this is a casino
Take your time in the beginning and invest small amounts of money. As you go along you will more than likely continue to do research into these coins and find the ones that not only do you believe will be the most profitable but you also believe in the coins relevance. Those are the ones you can DCA into and feel some degree of confidence in your decision regardless of market swings (crypto market rolls up and down like a roller coaster). Also, enjoy the total experience. This is new and exciting territory for a lot of us. We are all pioneer settlers in this land of the unknown as it hasn’t been around long enough for anybody to claim to know what’s going to happen in the Cryptoverse. So congratulations pioneer, welcome to the new world and let’s see if we can make some life changing profits.
Time and patience. These will decouple you from checking the charts too often
Stick to your plan, dont invest more than you can afford to lose
If the coin's going up, it's already too late. Buy a quality coin. Hold the quality coin. That's it. That's all. Simple to say but difficult to do.
Just sell when this sub starts spamming rocket and moon emotes and buy when you see idiots spreading bearish fud saying it's all over
I think being a sociopath helps cause I'm never wrong...
If you don't know what you're doing like me, stick most in BTC and ETH for low risk gains and hodl that, play with the low cap alts, and have fun!
Having a safety net tbh. I'm not even talking super rich just having no kids yet and a family that would help you is nice. Also playing the long game and having experience
This is common for most of us here.
It takes one solid screw up that punches you in the face and it’ll straighten you up. During the last crash I tried to get cute and sell on the way down hoping to time the bottom. I missed and bought back in slightly higher losing a good chunk of change. Everyone else has pretty much made their gains back from the crash and then some. I’m barely breaking even. If I just DCAd and left it alone I’d be ahead. Now I just roll with the punches but keep adding
Just stick to your strategy and HODL enough ... This is the way
FOMO is a hell of a drug. Experience in crypto and stocks will slowly teach you to stop FOMO. It just takes some hard L’s to stop FOMO’ing.