02-19-2021, 06:55 PM
What I learned during the last Bull run in 2018
<!-- SC_OFF --><div class="md"><p>I've been contemplating posting here for some time, since I've been primarily a lurker for years, but I see that there are a lot of new people here who are in the same boat I was a few years ago. </p> <p>During the last run there was a ton of shilling for a lot of crap coins. I didn't know what to do so I bet on a lot of horses. In total, I bought about 25 different coins. About 2/3rds of those bets were terrible bets and those coins are practically worthless now. Make sure you do research, and don't impulse buy because someone or some other subreddit is hyping a coin. </p> <p>During the last run, in just a few months time, my portfolio was worth 3x my initial investment. The problem is, I thought it was just going to keep going up. It did not. Until the last few weeks, I've been in the red. So this time, I've taken out some profits, and I plan to conservatively take out more profits over the next few weeks. But for the projects I think will work long term I am making sure to hodl at least a portion of my coins. If I take out profits, I plan on reinvesting back in them if there is a major dip. The coins I hold that are in the green now are all ones that I think have long term potential. </p> <p>So my basic advice for any noobs are<br/> 1) Obviously don't invest money you can't afford to lose.<br/> 2) Don't impulse buy.<br/> 3) Have an exit plan, and take out some profits when you can. When you take out profits don't be upset if that coin continues to pump after you sell. Just be happy you made a profit.<br/> 4) Have a long term investment plan, and be realistic about potential profits.<br/> 5) Keep track of your transactions. The tax man will come after you.<br/> 6) Don't keep your coins in the exchange. I got burned by the BitGrail scam. Put your coins in a wallet. </p> <p>I hope this is helpful, and I hope the crypto pros here agree that this advice is useful for those new to the space.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/subcow"> /u/subcow </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lmzw0k/what_i_learned_during_the_last_bull_run_in_2018/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lmzw0k/what_i_learned_during_the_last_bull_run_in_2018/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I've been contemplating posting here for some time, since I've been primarily a lurker for years, but I see that there are a lot of new people here who are in the same boat I was a few years ago. </p> <p>During the last run there was a ton of shilling for a lot of crap coins. I didn't know what to do so I bet on a lot of horses. In total, I bought about 25 different coins. About 2/3rds of those bets were terrible bets and those coins are practically worthless now. Make sure you do research, and don't impulse buy because someone or some other subreddit is hyping a coin. </p> <p>During the last run, in just a few months time, my portfolio was worth 3x my initial investment. The problem is, I thought it was just going to keep going up. It did not. Until the last few weeks, I've been in the red. So this time, I've taken out some profits, and I plan to conservatively take out more profits over the next few weeks. But for the projects I think will work long term I am making sure to hodl at least a portion of my coins. If I take out profits, I plan on reinvesting back in them if there is a major dip. The coins I hold that are in the green now are all ones that I think have long term potential. </p> <p>So my basic advice for any noobs are<br/> 1) Obviously don't invest money you can't afford to lose.<br/> 2) Don't impulse buy.<br/> 3) Have an exit plan, and take out some profits when you can. When you take out profits don't be upset if that coin continues to pump after you sell. Just be happy you made a profit.<br/> 4) Have a long term investment plan, and be realistic about potential profits.<br/> 5) Keep track of your transactions. The tax man will come after you.<br/> 6) Don't keep your coins in the exchange. I got burned by the BitGrail scam. Put your coins in a wallet. </p> <p>I hope this is helpful, and I hope the crypto pros here agree that this advice is useful for those new to the space.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/subcow"> /u/subcow </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lmzw0k/what_i_learned_during_the_last_bull_run_in_2018/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lmzw0k/what_i_learned_during_the_last_bull_run_in_2018/">[comments]</a></span>Kind Regards R