Whats Your Steak In The Game?
As I sit and watch the Super bowl it brings me back to something a mentor of mine mentioned yesterday. Are football games won by hail marys? Are baseball games won by teams jacking home run after home run? NO! They are tacticians. Chipping away with base hits or 5-10 yard gains down the field. The same goes for crypto.
We get asked all the time, what should I invest in? What should I buy? I am so far down what do I do? How much should I invest? We decided that all of these questions and more probably deserve a blog post.
How much should I put in?
This is a very open ended question but can be answered very easily. Put in what you can afford to lose. If you have $1,000 dollars to put in then put $450. Keep the rest available for buying when the market dips.
I’m so far down what should I do?
Well, if you are asking this then you more than likely are bothered. If you are bothered, then you have emotions in the game and probably have too much money invested. The hardest thing to do is remove emotion when you are putting your own money in. Emotions are the hardest thing to get under control. They can prevent you from making decisions that are not based on the research and charts.
Hopefully by this point if you are investing you are researching the coins, and believe in what you are putting your money into. Do you know who the CEO is of the coins you are investing? What they stand for? What their goal is? It is vital that you do the research or look to those who are doing the research. That way you verify the coins are legit. Time after time we see people putting money into things that they do not even understand. This is not good.
Do you have a strategy? What is your position sizing?
If you have answered no and I don’t know to these questions then you need to really stop and do some research. Ask fellow discord members on what this is, what your strategy should like, and how much you should be putting where.
The amount of knowledge in our group is overwhelming and we strive to help those that are just getting in. We want to help everyone develop a strategy that fits their income level and goals. The last thing we want to see people do is lose it all due to poor decisions.
If you are in this thinking you are going to get rich quick and have a lamborgini in six months then you are sadly mistaken. This is a long term investment strategy that requires some work. Read, read, and read some more. Ask questions. Learn the charts and how coins move. Learn technical analysis so you can make educated decisions. If all this sounds like too much to do then you need to be in the discord channel. Most importantly start slow! We are all early to the game. If you have any questions join the discord group and we would be happy to help!