How to HODL the right way

[nieninja53]

I trading is all about the strategies if you have good strategy then you are a good trader and the strategy must depend on the market conditions if market is down and price of altcoins and bitcoin low than the best thing is to buy more coins from depth and hold the already bought because market situation become down that is why you can get good strategy but according to the strategy,

[Blue Bell]

Here are two simple rules my trading mentor who's been in the game for 30 years taught me.

1. Put 5-10% of your net worth in crypto. No more as you might lose more than you can afford, no less as you won't see much difference.

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2. Have a strategy. Every month, on a particular day you have chosen, take 50% of your profits in fiat. No ifs, no buts, no waiting for the market to get better or for the price to rise because you "know it will rise 100%". And when it comes to the other half, invest 50% of it in assets you believe in for the long-term (Bitcoin, ETH, Neo, etc.) and leave the other 50% for speculation (alts, shorting).


I myself have broken these rules on a few occasions as I got greedy and it didn't end well so I had to HODL, check my portfolio every 5 minutes, deal with a massive amount of stress...

If you leave the decision-making to the strategy you follow, not to your emotions, it will make the whole thing much less painful. These two rules are super simple to follow.

"But I made most my crypto money from crypto." "But I am sure there will be a bull run, I will make more money when I put all my savings." "Why only 10%?"

You can NEVER be sure if a price will go up or down. Even technical analysis can mislead you as the crypto market is not regulated, it's the wild wild west and anything can happen. ANYTHING. Good or bad.

awesome..

To be honest I am agree with you that buying and selling depends on the demand so If we are not sure about the future then it does not mean we should get back from investing our money, holding is the one of best way getting rich, but during holding it is very important to hold your emotions because holding emotion is a bit hard tasking but it ends up making profit for us so hold your bitcoin in your bitcoin wallet for long term.

[Scripture]

Always invest the money you wouldnt afraid to lose. Its like giving away your money to them for free and when the time comes that the market rise up, they will give you the same money for free. If you always think that you doesnt wanted to lose on investment , then that would make you stressed out.

[Papsie]

For me before you hodl, make sure that you have enough resources to sustain you daily and necessary needs. Because if you will start hodling and sooner or later your resources almost consumed then you will have no choice but to use your hodlings. That is why it is very important to have some preparation before you hodl.

[coinfinger]

The method I use most often is to buy a few potential altcoins on the big exchange and then send altcoins on my MEW wallet. And I only watch the price of the crypto market once a month. If my altcoin is increased by more than 70%, then I will decide to sell all and buy other altcoins

You are going well with this strategy and it seems your results are quite satisfactory because your confident talk is evident of it. But brother, don’t you think only investing or trading with altcoin gives you so little money as profit? Don’t you like to get bigger profit ratio at once and in very short time with better results? So get into bitcoin world and make good income for you.

[iram3130]

Though I was a pro holder but the situations wont be in your side all the time so I suggest people to sell some when the token gets to their all time high values equal to BTC. Dont sell everything at once. If it comes down then dont worry, keep on Hodling.

[crea8ivemoiz]

HODL, an intentional typo of "hold," has become the rallying cry for cryptocurrency traders in the face of this recent Bitcoin crash, which has extended to other popular coins like Ethereum and Litecoin.

It's an instruction for traders to, um, "hold" their Bitcoin instead of selling it.

[michellee]

I think we can hold it in our wallet and we never tempting to sell if the price does not increase so high. maybe we can sell if the price has a good progress for more than 30% so we can make a good profit. I prefer to hold for a long time because, in the future, every coins price can increase higher so it means we can make a lot of profit from the coins.

[Telybin]

If you do not have much time, do not have the knowledge of investing, then you wait and check before you invest 1 month market has gone down how many percent. If the market drops sharply then it is time for you to buy. But you should only buy 50% of your money. If the market continues to go down then you keep buying and keep them until the price goes up.

[yayat]

FOMO – when it's going up and you've missed the train... but then you buy and it dumps. Happens many times to all of us   If you've missed the train, don't run after it. Wait for the next one (next dip).

FEAR OF LOSING – you're panic selling and then it pumps back up.    Warren Buffet might be a crypto FUD-meister but he's right about getting greedy when others are fearful and getting fearful when others are greedy.

GREED – this is the trickiest of all emotions. Most humans are greedy. It's our nature. And yet most will tell you they're not greedy if you ask them. I am greedy, and so are you. In trading or investing, we realize we've been greedy only after losing money. There is no easy way to learn this lesson but if you follow the two rules above you won't let greed run the show.


the key to fear while holding your Altcoin is here, FOMO, FUD, and GREED.

but if you try to avoid these three points maybe you will avoid the name of lost money (Bitcoin).

[Rodeo02]

I think we can hold it in our wallet and we never tempting to sell if the price does not increase so high. maybe we can sell if the price has a good progress for more than 30% so we can make a good profit. I prefer to hold for a long time because, in the future, every coins price can increase higher so it means we can make a lot of profit from the coins.

having careful thing while you are attempting to hold it on your wallet could be your choice to be while you are here in this currency , this is such thing that you may ever have to hold it right but most of it is you can also have to invest it in a best currency that you may also have to choose for while you are holding it there is a possibility of gaining some in the future.

[htconem7]

Here are two simple rules my trading mentor who's been in the game for 30 years taught me.

1. Put 5-10% of your net worth in crypto. No more as you might lose more than you can afford, no less as you won't see much difference.

----

2. Have a strategy. Every month, on a particular day you have chosen, take 50% of your profits in fiat. No ifs, no buts, no waiting for the market to get better or for the price to rise because you "know it will rise 100%". And when it comes to the other half, invest 50% of it in assets you believe in for the long-term (Bitcoin, ETH, Neo, etc.) and leave the other 50% for speculation (alts, shorting).


I myself have broken these rules on a few occasions as I got greedy and it didn't end well so I had to HODL, check my portfolio every 5 minutes, deal with a massive amount of stress...

If you leave the decision-making to the strategy you follow, not to your emotions, it will make the whole thing much less painful. These two rules are super simple to follow.

"But I made most my crypto money from crypto." "But I am sure there will be a bull run, I will make more money when I put all my savings." "Why only 10%?"

You can NEVER be sure if a price will go up or down. Even technical analysis can mislead you as the crypto market is not regulated, it's the wild wild west and anything can happen. ANYTHING. Good or bad.

We still live in a fiat-dominated world where you pay your bills in fiat (USD, EUR, YEN, etc.). So when your bills come but you've put all your money in crypto and it's going down and you kinda have to HODL, how are you going to pay them? I did that just recently and it was pretty tough to fight with my fear of losing and regret that I didn't sell at the peak.

If you don't need the money, great. Leave it in crypto. But the moment you lose a big amount (and this will happen at some point if you are in the game long enough) you will start panic selling and thinking about all the things you could have bought with that money: a trip, your yearly rent, a yacht, 5 years of freedom from work, etc.

A better way is to slowly regain your initial investment and let the profits make profits. Or take as much money as you need to live comfortably if crypto is your main source of income.

This is where the second advice comes in handy.

Take profit, even when it's counter-intuitive.

"This advice comes from many times of sh*#$ing my pants over the years," – experienced traders lose money too but they only come out stronger.

And finally, don't trade under the influence of your emotions:

FOMO – when it's going up and you've missed the train... but then you buy and it dumps. Happens many times to all of us  If you've missed the train, don't run after it. Wait for the next one (next dip).

FEAR OF LOSING – you're panic selling and then it pumps back up.    Warren Buffet might be a crypto FUD-meister but he's right about getting greedy when others are fearful and getting fearful when others are greedy.

GREED – this is the trickiest of all emotions. Most humans are greedy. It's our nature. And yet most will tell you they're not greedy if you ask them. I am greedy, and so are you. In trading or investing, we realize we've been greedy only after losing money. There is no easy way to learn this lesson but if you follow the two rules above you won't let greed run the show.

I hope this is helpful.

Stay tough! ;-)

I think you should not hold any coin at this point, it can be seen that the market is constantly fluctuating and difficult to predict, bitcoin prices are constantly adjusting and can decrease at any time. You can believe that bitcoin prices will be able to recover but it will be very long. According to my analysis, bitcoin prices will probably continue to fall until 2018 so you should not hold.

[Muhammedayo]

Greed is bane in this game .
Once we allow greed to overwhelm us , we most times end up HODLing for long.

Like my mentor use to say , Green candles are meant to test your greed while red candles are meant to test Patience.

[MichaelWorsnop]

For me, I hold it when the price is low and sell it when the price raise 

[yanimkurniawan]

For us a good way we can get more profit, I think you can buy the price now, because now the price is still low, so you can profit in some future time with a higher price.

[hentel]

Thank you for tips. I've got some tip for a long time, but sometime I can't control own emotion, and,...

[el kaka22]

Absolutely yes your thoughts are correct. Buy a coin that has a possibility to increase someday and trusted too. Because of so many coin you need to be wise in choosing a coin to invest and hold.

The wisdom comes with the knowledge you have about the space since there is no way you will be making good decisions without it anyway. Holding will work in favor of us only when the entire crypto market is into positive trends. For example, people who are holding from last November month, definitely will not have positive results.

With the HODL strategy, you will not have to worry about what anyone is saying about the current situations in the market and you just know that in the long term, with a very huge demand for it, it is definite to see it go huge and that is certainly what you are looking forward to. With this, it makes it easy to find very strong potential coins or tokens that would be an easy hold.

[asyakashi]

For me, I hold it when the price is low and sell it when the price raise 

haha ... you say the most difficult thing to do by a trader.
but you say this easily. read back your post and I laugh reading it. thanks.

[damberg]

Well, you pointed out very important psychological problems of traders - fear and greed. No matter what market it is, traders always fear a loss (or fear of not taking the profit), and greed in chasing distant take profits. Your mentor gave you great pieces of advice - have you been successful in the cryptocurrency market? 

[darkangel11]

Thank you for tips. I've got some tip for a long time, but sometime I can't control own emotion, and,...

And you lose.
Think of it like having a good card at a poker table and waving it around smiling so that everyone knows. If you let your emotions control you, you'll get fucked. It works in every aspect of life. Let a newly met girl know you're totally in love and she'll take advantage of you, make you pay for everything for a while and get bored quickly. Let a seller know you love the merchandise and he'll bring the price up.
Whenever you lose faith, do the math. Read about the asset, think of points for and against selling, watch some smart people on youtube like Andreas Antonopoulos, Barry Silbert, Tom Lee, and others.