Success can often feel like a drug. A good investment mooning gives you a feeling that I believe can be compared to being on drugs (in a positive way). I have got to admit, that I have never been using any drugs at all (except from drinking Coke Cola... I guess it can be considered a drug in an addictive way), but I expect the feeling to be somewhat alike. What do I mean? You start (invest some money) and then you see it go upwards. It just feels like a ride that you never want to end. And since you never want it to end, you just watch like a person with no power, moving toward the moon!
Are you having that feeling right now? If you are invested in Steem/Hive, we don't really have so much to be joyful about at this very moment. The value of both is standing mostly between $0,2 and $0,22, so not much movement there... and compared to BTC and Ethereum they are both failing quite big-time. But, if you have some Ethereum, Vechain, Chainlink, Bitcoin, or maybe Travala, then you might feel like the king of the earth currently. Well, enjoy the feeling, but it might be wise to get out from the delirium, and keep both your legs on the ground.
Why I don't like stop-losses
Maybe you are protecting your investments with stop-losses. Well, that is for sure a wise thing to do, but I have got to say – I hate stop-loss. It has saved me a couple of times, but it has tricked me just as often. Can you imagine how many people had their stop-losses activited when Ethereum went from $410 to $300 USD in less than 15 minutes on August the 2nd? And after the major dump, it jumped back up again. Poor everyone who had their stop-losses activated there... and it feels ever worse seeing that Ethereum seems to continue the pump right now.
As a result, stop-loss is important, but you also need to be careful with it.
And let me once again remind you about those crazy-orders!
I wrote an article about crazy orders a few weeks ago, and if you listened to it, you might have been lucky. I was almost lucky, but for some reason, I canceled my Ethereum orders with sort of craziness the day before the big dump. I had some Ethereum orders on 250 Euro and around the level, but canceled them on August 1st. So when Ethereum went from 350 Euro to 220 Euro, I didn't get a single Ethereum... that felt like crap when I waked up in the morning on August 2nd. Especially knowing that the price immediately returned to almost the same levels, which would have given me a nice profit from the first second.
Once again... the market is really volatile, and I believe we will see more drops like these in the future. And now, many people are speculating about why the Steemit account is powering down all of the tokens of the account (28,000,000 Steem tokens). Who knows? Hopefully, it is to build the communities and maybe split the tokens and send them to other accounts, or maybe to send it all to me? I don't know, but I will for sure have some crazy orders ready, just in case they would dump millions of tokens as the power downs take place. And since it only takes 4 weeks to power down on Steem, it means they will get 7,000,000 tokens released each week until the end.
Source: Pixabay
I will not debate what is actually going on and why they are powering down, and if we should worry or not. But, I will be prepared with some crazy orders in case a dump will happen!
Enjoy the ride!
I hope you are enjoying the ride and what seems to be the beginning of a nice bull market. But, be wise, and if the bull market should end tomorrow, don't sit back full of regrets with a lot of „I should have...” sentences on your mind. Be wise today and get out of the delirium that makes you incapable of acting and just giving you a drugged feeling that feels very good for as long as it lasts.
What are you thinking about these days? Are you normally using stop-loss? Do you have your crazy orders ready? Do you feel a bit drugged these days as you see the movements in the cryptomarket?
This is an original article written by me for Project Hope!
