Is this your condition right now?
Then, here are my few cents which can help you from loosing your hard earned money.
Almost six months ago I flipped 1 of my site, had a good amount of money(30k$).
So I was looking for some potential domain to invest it.
Before I had few Bitcoins(I got them as client payment) and it was performing well. So thought to enter into the crypto world, So I invested almost 70% money I got from flipping my site in buying BTC.
At that time NEO gaga was there because it went from 5$ to 48$. From Reddit to Twitter, everyone was talking about it that NEO is future(like a few days ago everyone was behind ripple), I had a little knowledge in crypto at that time so thought to follow the trend & give it a try.
On 15th Aug 2017, I moved 50% of my portfolio to NEO when it was ~48$.
Boom from very next day the party started.
The graph started declining, in next two week(sept 1st) it went to 30$. Again in next two week (sept 15), it touched the 15$ mark.
I was almost crying at that moment because the money I invested meant a lot to me.
I was about to sell all of my NEO, Luckily at that moment someone suggested me not to told “HODL”.
I asked him what does it mean? Then he described how vital HODL is in crypto world.
Convinced me not to sell my NEO. And almost five months passed I am still HODLing that, and the result is here.
If you are new in Crypto & don’t want to bleed your money, you need understand this graph. Thanks to Sachin Jain for sharing this-
The point is straightforward. But very difficult if you don’t change your mentality. If you don’t change your thinking..you will keep chasing experts every day without learning much.
The black color is the whales (the controllers of the market), and red color are the noobs/small traders. They keep doing the opposite things.
A couple of days back: Most of the noobs were worried that BTC is not moving and only alts are moving. Is this the end of BTC? Shall I sell my BTC and move to alts?
Today: I bought this alts at ATH and now since BTC is running…my alts are bleeding. BTC is the king..shall I sell my alts and move them back to BTC?
Again BTC’s growth will halt…whales will move to alts and when the alts start moving..the noobs will again sell their BTC & go back to alts…
This goes on repeating.
After few days you will lose all your satoshis and cry about it.
Although Cryptos are most returns giving domain. But only a few people will make money rest all will be REKT. Don’t chase green candles, track the red ones. If you are trading like a puppet,
STOP trading right away.
It’s okay.
Trading is not everyone’s cup of tea.
Invest in some good projects and HODL them that’s it.