What to do after buying the "top" and selling the "bottom"
I've been trading crypto for over 2years and I can say I've gained quite some experience over time, especially for someone who had to learn through the long and hard way. Selling the bottom is something noob traders fall for almost 98% of the time. Even after all my experience with trading, it is a feat I'm still trying to overcome.
Selling the bottom for those who don't know is when you buy high and sell low, as opposed to buying low to sell high, which mostly occurs as a result of fear or "having weak hands" as its been popularly called. Trading is not something that is perfected at once but over time, it often involves a lot of nail biting, for noobs that is.
So like every other noob trader, you've sold the bottom, and interestingly the market just recovered right after you pulled the trigger. What to do is man up, accept your losses and go back in. While you're gawking at the charts thinking about how you need a wish to reverse that trigger sell action, you might be missing on some gains.
What works for me after making such move is simply jumping back in and holding for much longer than I would have. One thing I've learnt in this trading crypto game is that as long as the fundamentals of the project remains strong, then the crypto is more likely to increase in value over time, Bitcoin for example. Its a holding game.
Lately I've pulled the brakes in trading, it is interesting to think that buying low and selling high will always yield some nice profits but I've discovered that holdn long term actually could be more profitable with lesser risks, its more of a tested and trusted fact.
Or.....wait for the next best entry time. Practically wait for another correction like this and buy the bottom. But can you really wait? I find it personally difficult to. I've tried many times that only led me to buying higher than should, waiting to buy at the right time is another skill anyone should have. Not me though.....
The crypto market dipped for a couple of days now, did you buy the bottom and sell the top, many congrats to you.... or you bought the top and sold the bottom, well brace up and get moving. I bought the Leo dip. What did you buy?
Thanks for reading.
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https://twitter.com/Mistakili/status/1364641656847368205
Nothing sir. Nothing.
Watching charts and vibes 🤡
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Lol but you were present on leofinance, dishing out your hot takes and intelligence....I bet you earned some Leo while at it...congrats on buying those tokens with your time. See you on the moon
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🤡
Wa gbayi...
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Wow! It's funny as you see it as a game, well never mind you already dictated that you've been into crypto trading for over two years so I can't compare myself to you. 🙄
🤔🤷♂️, well I have non yet. 🤪
Lol bro...all na game of numbers...you're in it now, no going back he he👹👹👹👹
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Really! Well then no shaking I know you've gotten me covered. 😜
I bet 90% of the traders make less money in crypto than swing traders. I have only once sold the bottom. It was inevitable and my main lesson that kept me still active in crypto after all these years.
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What I like to hear. 👏👏👏...
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Do not invest money you need
In Correction Just wait
I Know People who waited bitcoin rise since 2017
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That's how its done. I plan to holdl my bags for at least 3years
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Sincerely I wasn't bothered about the deep because I wasn't trading future at that time but I only bought a few coins to hold and I knew that the market will definitely correct itself at a later time which it has already started to do. Would have loved to buy leo during the dip but that will be a later investment when I have more funds to invest
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Smart move....cheers to that.
Yep, you can never go wrong with a Leo bag. Fill them up before the moon
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would really love to fill up my leo bag, I just need some fund to make that happen
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Good luck to that
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