The Art of HODLing

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Do you know the easiest way how betting websites earn? Offering clients live betting and while nothing happens, they earn... How? Just an example... At the moment, the EURO2020 Soccer championship is going on and in the last few days we can see plenty of goals on all matches, and especially in the eliminatory phase as only ONE team can pass it... But, when regular teams are playing league matches it's not like that...

So, you have the option of "live betting" and you can do that almost until the last minute of the match... So, if the match is, for example, 1:1, you can bet that one of the teams will score the goal and win... And most of the people DO that... But, in a nutshell, we all know that the hardest thing is to take ACTION, and not just that, you have to SCORE the goal... And, that's not that easy... So, instead of betting on the same result, people "expect" a miracle and betting on "score change" 2 minutes before the end of the match... Why? Well, probably the odds and offered a juicy reward if that happens...


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The same thing is going on in our crypto markets... And I'm not speaking about professional traders here... I'm speaking about ordinary people, like you and me... At the moment of the first investment you have decided to buy, you have probably made a plan WHEN will you "exit", or take your profit... Or even worse, you said to yourself that you will withdraw your investment after X years... So, why don't you stick to your plan?

There are many reasons for "changing the plan", but the most common cause is emotions... As almost everyone can buy and sell cryptocurrencies, it means that many "ordinary" people don't understand investing or markets, and how they work... So, we can say that the whole crypto space is emotionally driven and that's why some of those popular technical analysis techniques don't work...


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Another interesting "excuse" for changing the plan is very common thought...

"I'm here in crypto for 6 months and I KNOW that the price will go down (or up), so I have to SELL (or buy) because I will lose money... When I bought it first, I didn't know these things, so my plan wasn't right"

WRONG! Even if you didn't know about crypto when you first bought it, you should always be aware that you are in a LOSS with your investment only when you SELL your asset!

In theory, it is so easy to HODL, but in real life, we can make it the toughest thing in the world...


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Liotes

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I understand what you meant and is totally through, I'm trading emotion go a long way to either pull us out of market as a result of fear and other unforseen reasons.

We the lay man is actually after making profit on the short run and run, but not knowing the more we hold on to our currency the more the price multiplies.


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The moment when we involve emotions, it stops to be investing or trading... It begins to be gambling... And gambling is pure luck, in the long-term, the house wins and you lose...

!ENGAGE 10
!LUV


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Definitely you're right about that, is turning to gambling, game of luck. And trading is not all about luck is about taking a decision and hold to follow it up without fear.


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In theory, it is so easy to HODL, but in real life, we can make it the toughest thing in the world...

This rings so true, especially if people put in "all" they've got and/or are living from this. I don't know what I would say to the last one, but I can't stress enough to not put in more than what you're willing to lose.

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You are right... Never invest all your savings into something... Especially in trading which is based only on speculation...

!ENGAGE 10
!LUV


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Well HODL just tends to be based on your own plan. I do think its best to just choose a project you believe in long term as it will make you more resistant to the FUD.

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You are right about that... In theory, it should be like that... lol... But, even if you pick something that you believe, it's very easy to get into the FUD trap...
So... Emotions OUT, research IN :)

!ENGAGE 10
!PIZZA


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