Tips for newbie to long-term investing

[GiftedMAN]

That's the thing I'm struggling with, I actually want to put in more money. But I just can't afford to, I want to maximize on the buying opportunities but I know that's the FOMO creeping in, and I'll just have to stay patient.

Since you are thinking of a long-term investment, I will suggest you diversify your portfolio but Bitcoin should be your major concentration because if you buy now that the price is down, you will be able to make a profit when the price is up again but remember no one can predict when the bear will end so your investment should not be done with all you have got so you don't end up not making gain and lossng your capital. Always invest with the amount you can afford to lose, good luck.

[Hypnosis00]

Experience is the best teacher. Some got trapped last year as they are investing during the ATH and it is certainly a big loss for them if they sell it now.
I hope they all become like you despite the tragic losses due to some emergency that forces you to sell your asset you still see the fortune upon staying in crypto. And you did it right, this season is the best time to start in crypto investment, however, you have to keep in mind the risk of putting all your money in crypto as you can't simply think about profiting fast as it only happens when the market recovers back which it takes time.

[danherbias07]

Right know I'm heavily focused on accumulating as much Eth as I can. I'm almost at the goal I've set for myself in terms of how much I'd like to have before investing in another coin, since I've started investing again a short while ago. Next up I'd like to stack some ADA and BTC of course. But I can't help but wonder is accumulating ETH and ADA the right move right now? Or should I be more invested in BTC in terms of potential long-term returns?

Accumulate what you can or diversify in what you feel is the most important for you.
As for me, I'd save Bitcoin in a higher percentage than Ethereum.
My guts tell me it would be increasing again in a few more years so better stock as much as I can handle. Long-term potential is not a problem for it. It will happen someday.
I just don't want to be back to that feeling of regret where I accumulated a lot of BTC but spent it due to panic and other financial circumstances.

[Mahanton]

Right know I'm heavily focused on accumulating as much Eth as I can. I'm almost at the goal I've set for myself in terms of how much I'd like to have before investing in another coin, since I've started investing again a short while ago. Next up I'd like to stack some ADA and BTC of course. But I can't help but wonder is accumulating ETH and ADA the right move right now? Or should I be more invested in BTC in terms of potential long-term returns?

Accumulate what you can or diversify in what you feel is the most important for you.
As for me, I'd save Bitcoin in a higher percentage than Ethereum.
My guts tell me it would be increasing again in a few more years so better stock as much as I can handle. Long-term potential is not a problem for it. It will happen someday.
I just don't want to be back to that feeling of regret where I accumulated a lot of BTC but spent it due to panic and other financial circumstances.

You would definitely able to learn all possible things along the way when you did really gain that experience and it is indeed taking years before you would able to have a good grasp into this market.
It wont really be for everybody but doesnt mean that it would be impossible for someone to attain on.Everyone starts on being a noob but eventually with the errors and mistakes that we do experience
then this is where learning sets in and until the time comes that you would really be that knowledgeable and experienced enough on handling yourself into this very unpredictable market.
Neither you would be going for long term or short term it wont matter since you do have the skills and awareness already then you could easily make out decisions basing on what you are currently facing.

[palle11]

That's the thing I'm struggling with, I actually want to put in more money. But I just can't afford to, I want to maximize on the buying opportunities but I know that's the FOMO creeping in, and I'll just have to stay patient.

Do not allow pressure set in for you in your investment. Always try to take your time and go gradually to accumulate and while doing that select possible coins that will rise in the next bitcoin bull when halving come. Investment in bitcoin is most secured but you also can pick in the midst of top coin in cmc or coingecko. Invest what you can take the risk.

[Jody.Drummer]

That's the thing I'm struggling with, I actually want to put in more money. But I just can't afford to, I want to maximize on the buying opportunities but I know that's the FOMO creeping in, and I'll just have to stay patient.

Put what you can afford to invest. You done your best so far, because many DCA strategies that most people do stop in the middle of the road because of unstable monthly income. As for cultivating fiat first in order to take more number of altcoins like Ethereum is also a good step as long as you take advantage of the bear market at the right time. Because the DCA concept will not only focus on bear markets, each month must have a budget to allocate. So if that becomes your decision in the long term then do it as best you can. But if I may, budget primarily in Bitcoin to stay on the train.

[jossiel]

Right know I'm heavily focused on accumulating as much Eth as I can. I'm almost at the goal I've set for myself in terms of how much I'd like to have before investing in another coin, since I've started investing again a short while ago. Next up I'd like to stack some ADA and BTC of course.

Good choice for eth.

But I can't help but wonder is accumulating ETH and ADA the right move right now? Or should I be more invested in BTC in terms of potential long-term returns?

As long as you do stack and accumulate, you're doing good and with the choice. They're good and at the top of the market so you should be fine accumulating ADA and ETH.

But if I were you, I'll priority to get on bitcoin first and since you've said you're near to your accumulation target for ETH, why not do bitcoin second and ada third?

[tranthidung]

Put what you can afford to invest. You done your best so far, because many DCA strategies that most people do stop in the middle of the road because of unstable monthly income.

Don't invest more than what you can afford to lose it all. It is meaningful applicable for all investment strategies, not only for Dollar Cost Averaging.

Because the DCA concept will not only focus on bear markets, each month must have a budget to allocate.

It's not a must. You should maintain your DCA investment regularly but you don't have to do it exactly on weekly, monthly or quarterly basis as you plan initially. You should prioritize more important things in your life. When you have spare money, you can DCA. If you manage to do it regularly, it is good. Else, it does not mean you can not do DCA.

In my opinion, DCA on monthly or quarterly basis is good enough for your capital allocation and emotional control. If you do it on weekly basis, it is like you are trading and your emotion will be affected by the market.

[LastKiss]

~snip~

Right know I'm heavily focused on accumulating as much Eth as I can. I'm almost at the goal I've set for myself in terms of how much I'd like to have before investing in another coin, since I've started investing again a short while ago. Next up I'd like to stack some ADA and BTC of course. But I can't help but wonder is accumulating ETH and ADA the right move right now? Or should I be more invested in BTC in terms of potential long-term returns?

Well, investing in two cryptos at the same time is not a problem as long as the crypto you choose is the best crypto in the market. Just keep to your strategy until you completely achieve your strategy don't ever FOMO to your friends to other people if a cryptocurrency just gets 3x ROI in just a night. It's better to stick to trustworthy cryptocurrencies tho.

[Wawa2013]

~snip~

Right know I'm heavily focused on accumulating as much Eth as I can. I'm almost at the goal I've set for myself in terms of how much I'd like to have before investing in another coin, since I've started investing again a short while ago. Next up I'd like to stack some ADA and BTC of course. But I can't help but wonder is accumulating ETH and ADA the right move right now? Or should I be more invested in BTC in terms of potential long-term returns?

Well, investing in two cryptos at the same time is not a problem as long as the crypto you choose is the best crypto in the market. Just keep to your strategy until you completely achieve your strategy don't ever FOMO to your friends to other people if a cryptocurrency just gets 3x ROI in just a night. It's better to stick to trustworthy cryptocurrencies tho.

It is true that long-term investment in several coins is much better in my opinion when compared to only long-term investment in only one coin.
So if there are coins that we are holding the price suddenly drops, then we can still cover losses from profits generated from investing in other coins.
The most important thing is not to choose too many coins for long-term investments, besides not all coins are good for long-term investments,
we will also find it difficult to share the capital we have. So in my opinion choose 3-5 coins for long-term investments, it will be effective for us
to be able to generate profit. Then I also agree with you, which should not let us choose coins just because we are influenced by other people,
and don't believe anything other people say. Because sometimes other people promote coins only for their own benefit, we should only trust
the coins of our own choice, which we choose based on the results of our own research and analysis.

[carlfebz2]

~snip~

Right know I'm heavily focused on accumulating as much Eth as I can. I'm almost at the goal I've set for myself in terms of how much I'd like to have before investing in another coin, since I've started investing again a short while ago. Next up I'd like to stack some ADA and BTC of course. But I can't help but wonder is accumulating ETH and ADA the right move right now? Or should I be more invested in BTC in terms of potential long-term returns?

Well, investing in two cryptos at the same time is not a problem as long as the crypto you choose is the best crypto in the market. Just keep to your strategy until you completely achieve your strategy don't ever FOMO to your friends to other people if a cryptocurrency just gets 3x ROI in just a night. It's better to stick to trustworthy cryptocurrencies tho.

Diversification would always be best when we do talk about investment because we could really be having the chance of patching up loses from one investment into another which does simply means that

we should not put all of our eggs in one basket as much as we could so that we wont really be that too stressful nor get too much scared off whenever the market do make out some significant movement
or when it do dumps or crashes.If you do like to have at least that playing safe kind of style then it wouldnt really be bad for you to consider out on holding for long term.
This might not be preferred for some who do have  shorter patience because this would really be a test out of faith on a particular project for long term perspective.

[Viscore]

Hi guys,

After the immense hype up of the crypto industry, I jumped into crypto investing last year along with al lot of the casuals. I spent a couple of hundred bucks but sold just above break even point after the market crash last year. I was forced to because I needed the money to invest into myself to find a good job. Now that I've found a job, I started investing in crypto currency again, and started doing my due diligence.

My goal right know is to accumulate as much crypto as I can, but I'm not sure what the best strategy is considering the current economic factors. The approach I've had over the past couple of months has just been dropping a portion of my salary each month into crypto. But now I'm considering stacking my fiat to buy in on the bottom of this bear cycle which I think is yet to come. Would this be a wise decision? Or should I just keep going with the approach I have now?

EDIT

I would like to thank everyone for their helpful advise so far, I will definitely take each point made into serious consideration. Also from the points made, it lets me now that my mindset is where it should be.

Right know I'm heavily focused on accumulating as much Eth as I can. I'm almost at the goal I've set for myself in terms of how much I'd like to have before investing in another coin, since I've started investing again a short while ago. Next up I'd like to stack some ADA and BTC of course. But I can't help but wonder is accumulating ETH and ADA the right move right now? Or should I be more invested in BTC in terms of potential long-term returns?

If you want to maximize your future profits and start building wealth with this current bear market, then i suggest you should focus in  bitcoin first. It's not all the time that bitcoin price will be in big discount, so always grab the chance while its still very cheap and affordable. When you think you had enough for bitcoin, then start accumulating ETH and ADA too as you wish. But always invest on the amount you can afford to lose, so you won't be force in selling them again when you think you have no fiat anymore to finance you.

[DoublerHunter]

Diversification would always be best when we do talk about investment because we could really be having the chance of patching up loses from one investment into another which does simply means that

we should not put all of our eggs in one basket as much as we could so that we wont really be that too stressful nor get too much scared off whenever the market do make out some significant movement
or when it do dumps or crashes.If you do like to have at least that playing safe kind of style then it wouldnt really be bad for you to consider out on holding for long term.
This might not be preferred for some who do have  shorter patience because this would really be a test out of faith on a particular project for long term perspective.

Yes, I highly agree with this. Diverse your asset, do not put all eggs in one basket. This is what I did when I start investing and now I am still doing this. It you gave some time left do this strategy instead, but if you want a day trade maybe don't do this because it will require too much time and effort to monitor all the tokens you will invest with, given the fact that  you need to carefully read the data in different time frames. Day trading is good, for long term trading make some diversification.

^ If you really want to play safely in long-term trading why not choose a coin that considering safe in investment.
BTC has that feature and jit is proven and tested that it will create a massive profit when the right time comes if you want to hold it for the long term and avoid possible risks. Token now and altcoins trading in a short term is very risky, I can consider them that you are gambling your money because you even don't know the possible consequences that comes, there is no guarantee that you can make a profit.

[Findingnemo]

Hi guys,

After the immense hype up of the crypto industry, I jumped into crypto investing last year along with al lot of the casuals. I spent a couple of hundred bucks but sold just above break even point after the market crash last year. I was forced to because I needed the money to invest into myself to find a good job. Now that I've found a job, I started investing in crypto currency again, and started doing my due diligence.

My goal right know is to accumulate as much crypto as I can, but I'm not sure what the best strategy is considering the current economic factors. The approach I've had over the past couple of months has just been dropping a portion of my salary each month into crypto. But now I'm considering stacking my fiat to buy in on the bottom of this bear cycle which I think is yet to come. Would this be a wise decision? Or should I just keep going with the approach I have now?

EDIT

I would like to thank everyone for their helpful advise so far, I will definitely take each point made into serious consideration. Also from the points made, it lets me now that my mindset is where it should be.

Right know I'm heavily focused on accumulating as much Eth as I can. I'm almost at the goal I've set for myself in terms of how much I'd like to have before investing in another coin, since I've started investing again a short while ago. Next up I'd like to stack some ADA and BTC of course. But I can't help but wonder is accumulating ETH and ADA the right move right now? Or should I be more invested in BTC in terms of potential long-term returns?

You're totally messing up in my opinion, you can't or shouldn't be investing on bitcoin with the expectations of getting the returns in a month or two so please avoid investing your salary or money needed for survival. First of all increase your income source like start thinking how to make more salary like part time jobs or anything then you will have more savings than sufficient now you won't have too much pressure about needing returns too often.

[adaseb]

I think the most common ways how most people end up losing money in crypto is by leverage trading derivative products and buying altcoins.

Many people with like $3000 worth of crypto won’t get rich, so they send it to a futures exchange and usually use 10-25x leverage. Which usually ends up liquidating them eventually.

Second reason is buying some altcoins hoping it will go 100x. Usually they all end up losing 99 % of their value. Bitcoin and Ethereum are the only good long term solutions.

[yhiaali3]

Of course, Bitcoin is the best option for long-term investment, first of all Bitcoin, then ETH and ADA, these currencies are strong and have a good future and always rise with the rise of Bitcoin, so it is good to buy varying amounts of them with each market fall, this strategy is successful in the long term and enables you to Have a good price level, personally I advise you to focus on the ADA for the time being because it is in an excellent area to buy and collect and is likely to see significant increases in the near future.

[South Park]

I think the most common ways how most people end up losing money in crypto is by leverage trading derivative products and buying altcoins.

Many people with like $3000 worth of crypto won’t get rich, so they send it to a futures exchange and usually use 10-25x leverage. Which usually ends up liquidating them eventually.

Second reason is buying some altcoins hoping it will go 100x. Usually they all end up losing 99 % of their value. Bitcoin and Ethereum are the only good long term solutions.

By far those are the two most common scenarios, people want to get rich quickly by investing in this market, but the days you could invest a low amount of money in bitcoin and get those kind of results are gone, however instead of adjusting their expectations about what they can get out of the market way down, newbies decide to keep the same expectations but decide to take larger risks, risks for which they are not prepared to take and that end up depleting their capital really quickly, which is obviously not the outcome they we are expecting to get by taking those risks.

[sklopan]

First of all, when choosing an option for long-term investment, I would advise you to evaluate all the risks and possible development scenarios with the security that is chosen as an investment. It is very important.

[wiss19]

Jumping at hypes is not a wise move but what can we do? It's been done already. You are lucky that you did not lose but you also have earned something. Anyway, you can edit your title because you are not a newbie on here anymore but newbie or not, anyone is always welcome here to seek some tips and starts that might help to improve one's performance.

Your old strategy looks like a dca but you would like to try a new one. It does not look bad IMO so go ahead. You said you are almost done with your eth accumulating journey so you better prioritize that first and when it's done, you can then proceed on ada and especially bitcoin.

[virasisog]

That's the thing I'm struggling with, I actually want to put in more money. But I just can't afford to, I want to maximize on the buying opportunities but I know that's the FOMO creeping in, and I'll just have to stay patient.

Invest only the funds that you can afford to lose and do it slowly but surely. There's always an opportunity to buy good coins so don't stress out yourself if you can't afford them for now. Just save and allocate enough funds from your hard-earned money so you'll be able to invest with potential coins. Don't fear if others are buying but rather grind and hustle hard so you can buy the coins that you want.