Thank you, but I can't take credit as I myself learned that through constant reading. What I can say is that there will always be market manipulation driven by greed. Big fish are always 3 steps ahead of the masses and we have to adapt to this. Yes, it's terrible that it's the newbies / weak hands /uninformed / those susceptible to fud who are getting burned and funding these whales. People cry foul when large volumes are dumped but they don't seem to mind when the same whales pump their coin. What I have learned, and what I aim to share with my steemit and twitter (although I'm still figuring how to) is that we need to stay constantly informed and updated to be able to whale-proof our portfolios.
Thanks for the follow 👍🏽
The rule is never to sell at a loss. Now the best strategy (if you really want to invest in the tech as well as have future financial independence) is to take some profits while leaving a core position for long term holding. For example, your coin goes up 3 times, cash out 1/3 or 2/3. A good goal or strategy is to be able to remove your entire Fiat investment while having a good number of digital assets or cryptos left in your portfolio for future gains. That way, when whales dump or market dips, you won't mind seeing your portfolio value drop by half or 30% or 70%, whatever the case may be, as you do not lose anything. The issue is some people invest for a quick buck, and when the market dips instead of rises, they are forced to sell, losing their investments.
Thank you, but I can't take credit as I myself learned that through constant reading. What I can say is that there will always be market manipulation driven by greed. Big fish are always 3 steps ahead of the masses and we have to adapt to this. Yes, it's terrible that it's the newbies / weak hands /uninformed / those susceptible to fud who are getting burned and funding these whales. People cry foul when large volumes are dumped but they don't seem to mind when the same whales pump their coin. What I have learned, and what I aim to share with my steemit and twitter (although I'm still figuring how to) is that we need to stay constantly informed and updated to be able to whale-proof our portfolios.
Thanks for the follow 👍🏽
Do you think thats the best strategy given the whale influence?
The rule is never to sell at a loss. Now the best strategy (if you really want to invest in the tech as well as have future financial independence) is to take some profits while leaving a core position for long term holding. For example, your coin goes up 3 times, cash out 1/3 or 2/3. A good goal or strategy is to be able to remove your entire Fiat investment while having a good number of digital assets or cryptos left in your portfolio for future gains. That way, when whales dump or market dips, you won't mind seeing your portfolio value drop by half or 30% or 70%, whatever the case may be, as you do not lose anything. The issue is some people invest for a quick buck, and when the market dips instead of rises, they are forced to sell, losing their investments.
Cashing out at 2/3 can be dangerous but I get your point. Whale dumps for me mean opportunity. Great comment thanks!