Having been a fairly successful playing online poker during the early noughties, I picked up a few principles and strategies that I've found converted well into the realm of Cryptocurrencies.

In today's video I discuss 3 basic poker principles that I've used when investing.

1. Play only good hands

With thousands of crypto tokens/ projects it is 'play every hand that comes your way.' Particularly if you're made aware of a project by a friend that has done well out of it.

However I've found it most profitable to play 'good hands.' Not just in the quality of the crypto project but also in terms of timing an entry.

It is never possible to find the perfect time to invest, however being aware of whether the hand your playing is 'good' or 'so-so', will inform not just whether I invest but how much I'm willing the risk 'pre-flop.'

2. Don't get bluffed out

There have been many times, after I've bought at 'great coin' a 'good entry point' that the market hasn't behaved the way I expected in the short or medium term. It is very easy to get bluffed out of your position particularly if there is "FUD" surrounding a coin.

Just like in poker, I've found it is important to assess the odds and remain firm in my conviction if the fundamentals are good. Sometimes I up the ante by doubling down on my investment when the market crashes. For me this is the poker equivalent of "re-raising".

It can be high risk however in a market when there is so much manipulation, it is important that you prepare for your decision to be challenged and not expect a smooth ride to profits.

3. Know when to fold

Knowing when and how bail on a coin is important too. I've found becoming emotionally attached to a project can lead me to overlook fatal flaws in a project. I've found that knowing when to cut my loses or settle for a smaller profit is important.

Know how to fold is important too. Dumping all your coins in a 'rage quit' isn't always advisable. Sometimes on even a doomed coin the market gives an opportunity to get out with minimal or no damage. I sometimes look to wait for those moments even if I have mentally checked out of a coin. For me this is the equivalent of not folding your hand 'out-of-turn' in poker. Or "checking" even though you know you're going to fold to the next decent raise.

So that is for now. Can you think of any poker principles you've found have transferred well to crypto investing/ trading?

My video is at DLive