Be Honest, Do you actually follow this rule?
It´s hard to admit and sometimes we don´t even want to make ourselves aware of a bad deal but rather forget about it pretty quickly. But that only happens whenever you buy or sell at the wrong time. It sounds too easy to be true but it´s really that simple.
Just like Warren Buffet stated some years ago, “Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”. That´s still the one and only rule to follow whenever you want to be a successful trader. It might be the toughest thing as you have to stay invested through all the other ups and downs but you´ll most probably smile in the end.
Let´s just take the the recent drop of Bitcoin from almost 5.000$ to less than 3.000$ in a few days. Even in case you bought at 3.500$, whenever everyone else was selling and stayed invested through the further dip then you are better of right now as it´s back up to over 4.000$ again already.
I know that it´s not easy to see your investment drop another 10% or more in the crypto world but it´s still people who are trading all the coins and why should they suddenly act differently than on the stock market? This doesn´t mean that you should buy everything whenever others are selling it as this would just be stupid. You still have to pick your investments wisely but as soon as you did it´s time to wait and buy whenever everyone else is selling.
Join @ADSactly, A Worldwide Crypto Community!
