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.
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.