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Cryptocurrency Trading / Re: Just HODL
« Last post by Dr.Bitcoin_Strange on Today at 08:12:02 PM »By that I believe you mean the DCA strategy. Because by taking out and investing a portion of your earning, either weekly, monthly or whatever interval that suits you. It's just like putting some of leftover money in a piggy bank and just forgetting about it for several years, that can actually reduce the tension one ordinarily feels when the market suddenly start to dip.We really have to use free money to invest in crypto, whether trading or holding. because we know, crypto is unpredictable and very volatile. If prices suddenly drop, we don't need to panic about that money because we don't need it in the near future
Unfortunately, currently there are still many new traders who often feel panicked when they see the price of the coin they are buying going down. They often panic because they are using money that will be used in the near future, so their financial condition will be disrupted when all their assets are trapped in the market at high prices. Therefore, the importance of managing finances for trading is one of the most important keys.
Since it's just a fraction of your income, you would feel less emotional outburst when there's a temporary market fluctuation, because you're more focused on the long-term outcome.