Crypto Investing - Know Your Price Points
This will be good to revisit. Most have heard me preach knowing your upside and downside price points. It's simple practical and in your best interest to do so when investing in crypto.
Thus, I decided to share this video I did some time ago. I think the fact it was done when prices were much higher further solidifies why we need to know both our upside and downside targets.
By doing this we can act accordingly and take off or add positions as needed instead of just bag holding.
Know Your Price Points
Learn and Do Better
In the end the best thing we can do after the fact is learn and do it better the next time around. I hope you were able to grab some useful knowledge about the simple action of recognizing price points for both directions so you can make informed decisions.
Remember, this is not rocket science - even a scaredycat can do it!
Published by ScaredyCatGuide
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I unfortantly didn't enjoy the big move up as much as I should have. Each swing we face we learn better. Weird that eventually the volatility will slow down as adoption is more established.
Yeah, it is odd but the more this becomes adopted the less volatile and mature the market becomes.
Before you enter any trade, you must know what your "happy dance" target is and your "sad face" level is.
That is the perfect way to put it!
This is solid advice and a good overview. It's hard to fight your emotions when investing but if you have plan your price point it makes a lot easier to fight emotions with structure.
Yep, trying to think of these things after your in the position gets clouded with emotion.
I remember this video and was one that led me to follow you! Amazing how time flies and markets change but approaches do not necessarily... Great stuff!
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@kenmelendez,
I think it's good that the cryptocurrency market crashed before you published your 2nd book.
Now you can factor in all the lessons you learned from this recent downturn and I think @scaredycatguide's practical tips and insight can give you a headstart.
I haven't read your Coinwise book about Bitcoin but if you have learned a lot since then you can also update that book.
I found @scaredycatguide through @steeveapp and I am pretty sure she (or he) would agree with avoiding the mistakes I mentioned here.
Keep going @kenmelendez people like me appreciate your presence on the blockchain and I have always enjoyed your talent for writing 👍😊