RE: >>> 10 GOLDEN RULES OF TRADING <<< | **NEVER LOSE A TRADE AGAIN | MY SOLID FORMULA/METHOD**
Really good write up.. the only one I'd slightly amend would be #6, "only invest long-term" in coins you believe in. I understand the philosophy of not getting stuck in position with coins you don't like because you'll be more apt to FUD and sell at a loss, but there are certain scenarios wherein the short term it's best to capitalize on shit coins that you don't want to hold.. Like I certainly don't want to hold Tron long term for example... but I took some small positions a few weeks ago to dump during the main net runup. I 100% agree with all of the others, especially the part about being angry about missing profits over losing actual funds.. this is the one I can never get my friends to understand, will definitely link this article over and print it out and staple it to their face! :)
Thank you sir. I appreciate it =D I agree it's a bit vague but there's a reason for that. I figured that if you REALLY truly believed in the whitepaper/roadmap for ANY crypto then it doesn't matter where it ranks on the list because you'd expect it to last long-term. Also "long-term" is subjective in the market (for now atleast) because everything is so new/volatile/exciting. We have tokens like Iota or Cardano that are still babies/in their infancy yet shift in and out of the top 5 market cap constantly.
Now it's volume is over $150 million for Cardano and double that for IOTA. They were both released in 2017 and neither are even a year old. So the top 5 could be completely different this time next year. With the exception of the shitcoins/jokes like (and i'm not making this up, this coin exists) Ponzicoin lmao, they all have potential.
As of now no one knows for certain what is long-term; with the exception of Bitcoin (even so...) almost every coin can be overthrown by another coin/token with a better product/service. There's already talk of #EoS possibly overtaking #ETH. They said the same for #BCH before the hard-fork; although that never happened.
Personally I don't believe so but I wouldn't be surprised to see it happen. That's pretty much why I wrote it the way I wrote it. Because of that uncertainty of the future (long-term that is) of cryptocurrencies.
But then again you make a valid point about Tron which is why I wrote for rule #2 you should take ALL trading advise with a grain of salt; including my own. I agree with you on that sentiment. There's money to be made with coins like Tron, Verge, WAM, and many others that you definitely don't want to hold long-term. But you never know; maybe Tron will land on the moon one day. Although it's highly unlikely; same can be said for many things we never saw coming/expected in the market. You clearly know your shit. Thanks for the comment! Followed/Upvoted :)