When investing in crypto, there are many different philosophies:
1: Daily-trader: tries to invest for the quick gains, and increasing daily invests at the same. (risky)
-Potential for huge returns if efficient, compound profits can make you rich in a few days.
-Very risky and psychological distressing
-Do not underestimate your own human emotions
-Do not underestimate crypto gains ! 50% might seem a lot, but it is NOTHING for crypto
2: HOLD: This one is attached, or is looking for long-term gains. Sometimes attached to a coin or two. (safest so far)
-Very successful in the last year, probably the easiest way to win in crypto without psychological distress
3: Hype: That one who is very bullish about the future of crypto. "It will be the future". (risky, but most profitable so far)
- This would be overconfidence players
-Flawed thinking, usually followed by huge bets, and risky financial future. - Impatience to buy - prices often fluctuate and you miss good opportunities
- Would have worked for last year
-Believing in ICO's
4: Doomsday: "It dropped 50% !! It is a bubble, the end of crypto"
-This is the worst philosophy for crypto, because frustration prevents you from huge-gains to come, and you loose good opportunites
Although there are others philosophies, here is some I consider common to investigate,
What do you guys think?
https://tse1.mm.bing.net/th?id=OIP.lSjggMpGTLQH6Y9B_BGJTAHaDD&pid=Api
