First, let's talk about what a 'trader' is. A trader (in my opinion) is someone that sells their coins after a certain point in time when xyz criteria is met.
They don't hold it forever
They don't 'believe in the tech' and think it will be 'the next #Bitcoin'
They don't hold it forever
They don't 'believe in the tech' and think it will be 'the next #Bitcoin'
Traders can have different timelines on investments. You can hold something for 6 months and it could still be a trade.
The difference between a 'trade' and an 'investment' is not necessarily just the time you hold it, but also the mentality u have when u buy the coin initially
The difference between a 'trade' and an 'investment' is not necessarily just the time you hold it, but also the mentality u have when u buy the coin initially
Simple example: A trader buys $FET because he thinks the value will go up and he will sell it after it hits his targets
An investor buys $FET to hold for the long term because he thinks AI is going to change the world (in crypto).
An investor buys $FET to hold for the long term because he thinks AI is going to change the world (in crypto).
Now, is there anything wrong with being an investor in #Crypto?
If your goal is to make as much $ as possible and you are a retail pleb like the rest of us, the answer is yes.
The only two coins that you should hold for the long term are $BTC and $ETH.
Nothing else.
If your goal is to make as much $ as possible and you are a retail pleb like the rest of us, the answer is yes.
The only two coins that you should hold for the long term are $BTC and $ETH.
Nothing else.
Why is being an investor bad?
Because crypto coins don't last. The vast majority of them die and go to $0
We all know how hard it is to sell stuff when it's down. The human brain is not conditioned to take losses, read 'Thinking Fast and Slow' for more about this.
Because crypto coins don't last. The vast majority of them die and go to $0
We all know how hard it is to sell stuff when it's down. The human brain is not conditioned to take losses, read 'Thinking Fast and Slow' for more about this.
If you think your shitcoin that you put 75% of your networth in is going to be the next $ETH, I've got bad news for you- it's probably not.
And holding it to the end of time is not going to make you rich, it'll probably make you broke. Look at $ZEC- continuously down only
And holding it to the end of time is not going to make you rich, it'll probably make you broke. Look at $ZEC- continuously down only
Can you have longer term trades? Sure. I have some bags that I have held for 6months -1 year.
I also know that those bags can go to $0 and I've lived with that fact. I don't have any ideas that my bags are going to be the next $AAVE or $ETH.
I also know that those bags can go to $0 and I've lived with that fact. I don't have any ideas that my bags are going to be the next $AAVE or $ETH.
Look at the 2018 February top 20. Most of these coins are still around but in much different places.
Stuff doesn't last in crypto and your coin is probably going to die.
Most of us are here for the $
Stuff doesn't last in crypto and your coin is probably going to die.
Most of us are here for the $
Am I saying you should neglect the tech? No. You should read and learn as much as you can about it. It will help you form your overall ideas on what to trade and invest in next. Don't get married to the tech alone.
New narratives, ideas, trends happen all the time.
New narratives, ideas, trends happen all the time.
Now, am I tell you to learn TA and order flow and all this other stuff and learn to trade like the rest of us? Not necessarily. Everyone has different techniques to enter and exit, most of it is actually more common sense vs. all the fancy tools.
I'm telling you to change your mentality. The minute you buy a coin, know that you are going to be selling it for good $ eventually.
Just like Chris Brown says, 'these coins aint loyal'
They'll go to $0 and bring you down with it.
youtu.be
Just like Chris Brown says, 'these coins aint loyal'
They'll go to $0 and bring you down with it.
youtu.be
Some exceptions: you're already giga rich and just want to invest in BTCÐ and sit on them
You're a VC and need to hodl your shit (though you dump too, don't lie)
You're in it for the tech and building in the project
You're a VC and need to hodl your shit (though you dump too, don't lie)
You're in it for the tech and building in the project
Summary: Think like a trader. Know that these tokens you're buying are short term vehicles to make you more $ than you started with. They probably aren't going to change the world, they are probably going to go to $0.
How to trade? It's something you'll have to find for yourself
How to trade? It's something you'll have to find for yourself
Good luck. I have many dead bags because I became an investor and believed too much in the technology, which resulted in me losing tons of $. I hold $BTC and $ETH and everything else for me is going to leave my wallet eventually.
Be fluid, adaptable, and open with your ideas
Be fluid, adaptable, and open with your ideas
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