How to prepare for long term HODL

[nutriagrigia]

Actually reading the news about that coin is gonna help you to decide whether you gonna hold it or sell it. Reading or watching news will for surely gonna help you out. Also, analyzing the market trend is gonna be a big factor. Try to study the market trend also for you to be able to understand the movement of the coin that you are holding.

In my opinion, it is unnecessary to look for the news if you are going to do long term holding because the news now will not dictate the future value of a cryptocurrency because it is just a temporary noise. Looking at the technical data from the chart is more helpful because like you said, you will be seeing the current trend and you will have an idea if it is still good to enter the market.

The technical analysis of coins only works if you want to trade. making a profit on day trading using technical analysis is very good, but if you want to use technical analysis to see the future of a coin in 2-3 years, it is better to forget about this idea. for such a long time, technical analysis does not work in the cryptocurrency market

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[spike420211]

We need to go a long way from accumulating and tracking the market, to full readiness for profit taking.
In this case, it is best to pre-calculate the mark at which it will be comfortable for you to close most of the transaction,
and you can risk the rest, preferably not so much that would be offensive later.

[key4co.in]

I Agreed, As holding crypto Alt for long term is risk all the time,need more patient, and aslo think positive, target one year or two year or more, before buy and hold you need more advice, and care full.

Holding for one year or two years or more rarely works for most altcoins to be candid. This is why it's important to be extremely convinced on reasons why you hold a coin for long term before doing so, to avoid regrets. Normally I trade altcoins, hold a few {three max} and hold more of BTC for long term.

[ololajulo]

Its a good piece but might need to update information as the space improves. How did we get the weak hands in hodl?and why do they shake off after a while or forced to sell the hodl in the market, maybe they didnt prepare enough for the long hodl. Demand came for the use of the fund. Most profit in the bull are kept as fiat and spread to take care of immediate bill while they hodl in the market for the long period. Most plans are between 4-5 years.

[Ridwan.P]

good advice. Option 1 is the most difficult to avoid. Many of us sell assets because of sudden needs. I have done it. Selling assets when important. In fact, a few weeks later, the price went up.

[Crypto5060]

The points highlighted are very important. First, having a separate income, it was the first mistake I made. I put all my income in crypto and wanted to hold but it backfired. Staying updated I every important because a news about the coin you're doing can affect it positively or negatively.

[LouVandetta]

Apart form all those advices, always prepared for the worst, maybe? I mean, you need to mentally prepared for any outcome in the next few years, some hodlers just leave their coins to hodl for a few years without checking the news or the price from time to time, to keep them updated. Which is why, even with all of your research, there might be something that doesn't go as planned. When that happens, well, we never know what the future holds.

[verita1]

I agree with the idea that if you decide to hold a coin always monitor the project. Because it is true that at some point the team decides to change the token to burn it and if you do not follow the swap to the other coin you can lose your investment. Once that event happened to me. Lost sight of a token, the token was burned and I had no chance to change it in time.
Now I am more attentive to the progress of the projects and I hope to see the highest price of the token to see the ROI of my investment: Buy, sell and save.

[onyek16M]

To identify good coins do long-term hold is very suitable to use the way you say and if I think the point number two is very important thing to use, because not all altcoins can we hold Long term because it could be the coin only lasts for a moment so we must choose an altcoin that already has a high potential so that the possibility will develop for the future.

all number on above its very important not only number two. when we are investing then we have not source income we can not life, and update about the event that we hold is important thing because it can make maximum to get profit
my additional is count about your profit in future its important because the purpose of investing for get profit

[PrissMCclen]

I have couple of token I bought for long term investment, how I do my own is that I buy them gradually I don't like buying all at once, then I stop buying the moment I see moon.

[b1boy]

I totally agree with you that not altcoins are for long term Hodl and bitcoin and some other top coins are only to be used for long time hodl, you also have to stay updated and keep checking on your investment because nothing is actually promised and you have to keep track of your investment

[kodtycoon]

indeed, holding for the long term cannot be arbitrary and must have good consideration and calculation, because when we decide to hold long-term at least there will be money spent and we must be prepared for it all. the way given in the op is indeed a good consideration because we have to consider many factors about the income and expenditure that we will do

[rekinthis]

When the strategy is for long-term holding, it's always safe to go with low-price assets that have a good volume of trading and a large number of exchanges. Long-term retention always requires continuous observation of changes that occur over time. Better benefit can only be gained through that. We should always bear in mind when we go for long-term holding to cash out benefit at the right time. The remainder of the long-term holding will be set on the basis of price and time. If the price reaches big, we need to be ready to take the profit and spend again before the expected time period.

[mike_the_notorious]

I was paid in ETH for several years while freelancing for some projects, and still hold my funds in my Freewallet account.

[meliodas]

When the strategy is for long-term holding, it's always safe to go with low-price assets that have a good volume of trading and a large number of exchanges. Long-term retention always requires continuous observation of changes that occur over time. Better benefit can only be gained through that. We should always bear in mind when we go for long-term holding to cash out benefit at the right time. The remainder of the long-term holding will be set on the basis of price and time. If the price reaches big, we need to be ready to take the profit and spend again before the expected time period.

When you are in the game for long term holding, you can just ignore the market for a certain amount of time and just go back after that period. You do not need to monitor all of the changes in the market just to see if your investment is doing good because before you invest any of your money, you should have done a ton of research to justify your bias.

[d3nz]

Best way to HODL is buying in cheap and wait until it goes up it's value since if you can buy back once it goes down then it is good deal. But it will really depend on what you are buying if its BTC then it is good for long term but if its an altcoin then you may need to be aware that it could take months before the value it pump up even those top ranked altcoins we cannot make sure if the value will rise up.

That's why we need to make a research and analyzing and making prediction could help you be positive and not affect for those FOMOs and FUDs circulating in social media and forums.

[JC btc]

Best way to HODL is buying in cheap and wait until it goes up it's value since if you can buy back once it goes down then it is good deal. But it will really depend on what you are buying if its BTC then it is good for long term but if its an altcoin then you may need to be aware that it could take months before the value it pump up even those top ranked altcoins we cannot make sure if the value will rise up.

That's why we need to make a research and analyzing and making prediction could help you be positive and not affect for those FOMOs and FUDs circulating in social media and forums.

Especially in Bitcoin, we know how it is worth to invest on it and hold for long term, so we should just simply hold it when we do have spare money to buy and then wait for years or even do a short term trading, if you know how to make strategy on it, you will always benefited thru the pump and dump of it.

[drachman]

Best way to HODL is buying in cheap and wait until it goes up it's value since if you can buy back once it goes down then it is good deal. But it will really depend on what you are buying if its BTC then it is good for long term but if its an altcoin then you may need to be aware that it could take months before the value it pump up even those top ranked altcoins we cannot make sure if the value will rise up.

That's why we need to make a research and analyzing and making prediction could help you be positive and not affect for those FOMOs and FUDs circulating in social media and forums.

Very few people are going to be effective holders precisely because of this, they let themselves be dominated by FOMO or FUD, and instead of holding their coins as they should they begin to sell them in the case of FUD or they buy them in the case of FOMO and then they wonder why they do not seem to make any money in the markets, if you are going to be a long term holder then you need to keep your coins no matter what happens and until you can do that then you will never obtain any profits as a long term holder.

[kambaralikhan]

For long term hodl we just can't put all of our investment into one or more cryptos and after that we sit back and relax.
NO !
This is not how long term hodl works and this is not the right strategy all the time. Long term hodl is we have to make a portfolio of currencies mostly based on bluechip currencies and invest the major portion of savings in them like ( e.g 60% to 70%) and then use the other portion of investment to invest for short term profits like daily trades of small profits buy and selling, buying low selling high and repeat. This is how I prepare myself for long term hodl.

[FairUser]

For long term hodl we just can't put all of our investment into one or more cryptos and after that we sit back and relax.
NO !
This is not how long term hodl works and this is not the right strategy all the time. Long term hodl is we have to make a portfolio of currencies mostly based on bluechip currencies and invest the major portion of savings in them like ( e.g 60% to 70%) and then use the other portion of investment to invest for short term profits like daily trades of small profits buy and selling, buying low selling high and repeat. This is how I prepare myself for long term hodl.

For the long term investment, you explained it very well but in the theory. The theory on paper is totally different than reality which slaps everyone hard. It is easy to advise, but applying this to job takes serious amount of hard work and time.

I totally agree with you. The theory is easy, but when we practice it becomes very difficult. He makes a very smart and reasonable investment advice, but given the current market situation, it's hard to apply it.
And the simplest way to invest in long-term is to not be afraid of losing, choosing the top altcoins in this market and buying it.