29.8 C
New York

The Old Man’s Views Perhaps It’s Time to Delve Deeper into How These Markets Move

Date:

The Old Man’s Views Perhaps It’s Time to Delve Deeper into How These Markets Move Blockchain PlatoBlockchain Data Intelligence | Vertical Search AI

This business is massively focused on HODL as if it is the only game in town.

I can appreciate that this has been working for some time, and it is an easy sell as a strategy.

However, the young guys who bought at higher levels have lost half their money, and with it, all their gung-ho attitude. Their emotions are getting to them.

So, this week, I thought I would touch on some basic trading strategies and a bit of education because there is so much more to investing and speculating in these markets than buying and HODL. And those bright young people who have entered the market over recent months with massive expectations might need to spend a bit of time studying the market’s and finding a strategy that better suits their risk profile.

There are two main reasons people make a lot of money in this business: They either get in early or get in and out at the right time.

Early entry is a great way to make money. But most newbies don’t do that because they often lack the tools or the connections. Many newbies buy products when they have already risen, too often after reading “paid for” reports and comments they find on social media.

Let me state the obvious.

For prices or values to rise, you need buyers. To see a profit, you need buying to appear after you have purchased what you wanted.

You don’t only need this fresh buying after you have bought, but you will also need a lot of renewed buying when you want to sell.

For the uninitiated, that is why you saw so many buying recommendations before Christmas. Those wishing to sell a sizeable chunk of their portfolio could never have unloaded their positions at excellent levels unless there were a lot of buyers to take the other side.

In our world, we are obsessed with celebrity, and too many have the “follow the Whale” mentality. Because of this, it doesn’t take that much to generate a buying frenzy.

Just get a few of the right people to write a report or make a short video.

I know this business is all about community and cooperation, but this doesn’t mean it’s a charity.

You have no one to blame except yourself if you got suckered into buying heavily during the frenzy period. It was FOMO; you were frightened of missing out. You didn’t think it through, and you didn’t have a strategy.

When values have dropped 50%, everyone is still crying out HODL.

Is that because HODL is a good strategy. Or is it because they do not want people to add to the selling pressure?

You be the judge.

At times like this, we should offer advice and make some suggestions.

Related articles

spot_img

Recent articles

spot_img