RE: The Why of Investing | How I Decide What to Trade and When
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I use trading basics to get into my crypto investing positions, normally what I do is spotting big long-term supports and buying there, I bought VeChain near the bottom, BTC at 4k before it exploded, and ETH at $180, long-term bags (5-20 years). This only works if we are at the end of a bear market tbh, because in a bull market the price just shoots up non-stop and I have no idea when to get in... in a bull market I just DCA into crypto every 20-25 of the month, for some reason cryptos get cheaper by the end of the month (from my experience). Still need more experience with stocks to get a good understanding of when to invest tbh...
That TSLA stock is at crazy levels right now, I have no idea what to even think about it! Every time I think it's overvalued AF, it does another leg up... I understand the Elon hype, and Tesla has a lot of IP, but still, the biggest car company in the world when it comes to marketcap? Higher than Toyota?! Makes no sense imo...
That's a good strategy. Thanks to the LEO Roundtable podcasts, I've been getting more and more entrenched in some technical indicators/support and resistance levels.
The quadrant method that @rollandthomas showed me is also a nice and simple way to determine if something is relatively cheap or expensive, so I've been keeping an eye on that as well. You have a good track record of getting in at good prices, so keep doing what you've been doing.
The thing about long-term holds that I love is that you can't really go wrong... even if you buy TSLA at $1k right now, if you buy into the vision of Tesla over the next decade, you're still likely to make a return even though you're buying at the current top. Technology is funny that way
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