>start researching the crypto market >do this for a few months >decide on a diversified portfolio of 15-20 promising cryptos >spread $5k on them >simply hold, don't try to swing trade because I know I'm an amateur and I'll fuck it up, don't bother trying to sell/buy the dips because I can't time the market >never panic and sell off a coin unless I'm confident that it's dead >never go all in on any one coin, always diversify and rebalance my portfolio >4 weeks later I've doubled my money >cash out my original $5k and leave the $5k profit in the market to mitigate risk because cryptos are extremely young and volatile >3 weeks later my $5k in the market is up 70%
It's seriously that fucking easy to make huge money in this market. How the fuck are there people on this board who actually lose money in cryptos?
David Brown
Buy ENJ pump coming this month ill cut my nuts off if im wrong
Aiden King
nice larp
Jordan Stewart
It boils down to two things >they buy garbage >they unironically buy high sell low >it's because they can't hold good coins for longer than 3 seconds and they hold their losers way too long
Nathan Perry
>go through the effort of larping on biz to pretend to have 5 thousand dollars Retard. This is one of the only posts I've seen on biz that actually has a sensible investment strategy
Carter Wood
>>go through the effort of larping on biz to pretend to have 5 thousand dollars You underestimate the autism of Veeky Forums
Isaiah Price
well put OP respect to your sense of disciple when handling money.
Liam Anderson
Or you could just buy BTC. Everything else is a sinking ship.
Jayden Sanchez
That's kind of the approach I've started, only a few weeks into the research phase though.
Why not narrow down further, isn't "15-20 promising cryptos" spreading your bets a little too thin? Sounds like you are shopping for shitcoins, most projects will fail. 5 sounds like a more reasonable number.
Aiden Ross
>>cash out my original $5k PUSSY U S S Y
Aiden Hernandez
why do people say this when a ton of other coins have outperformed btc this year alone?
Carter Watson
Not if you cash out to pay back CC debt. And get even more BTC.
Jose Robinson
Number one rule when mitigating risk in investments is to diversify. Did you even read the post.
Fair point, but I feel as though the way I spread 5k was pretty, the majority of the money is in about 3 or 4 top performers the others are spread more thinly as they are higher risk
John Sanchez
>don't research the cryptocoins market at all >FOMO buy $5k bit coins because retarded >FOMO buy $5k ethereums because retarded >FOMO hodl >3 years later my $10k in the market is up 50000%
Hunter Collins
pretty reasonable*
Nolan Hall
Haha I'll start with a fifth of that capital, wish me luck. At least the pittances of profit will taste sweeter than slave wage.
Luis Nguyen
Good luck user. What coins will you be buying?
Gavin Richardson
...
James Gomez
how much total money did you invest and how much total money do you have now?
Dominic Mitchell
In a similar situation. Put a total of about 2.5k divided evenly into a few coins about 2 weeks ago. I'm already up almost 1k.
Buy and hold is investing. I've been investing for over 10+ years with traditional mutual funds, etc., so I know quite a bit.
Day trading is gambling. It's a meme, nothing else.
BUY AND HOLD!
Jackson Cruz
If you had bought and held DGB you'd be down 90% by now.
Justin Williams
I wouldnt be surprised. People larp about being complete failures too
Luke Cruz
Was thinking about holding a few but it's not much capital so I'm considering iust spreading it out on ETH, LNK, XMR AND OMG, was also considering salt (although I doubt of its potential uses for loans) for price point trading, it's tempting to get in on the new btc floor though, assuming it doesn't crash.
Nicholas Sanders
fuck all fuck all
Angel Gonzalez
I don't buy trash. I only bought top coins like BTC, ETH, etc... Stick with the blue chip coins, not shit coins.
Luke Fisher
BTW, that 2.5k is just fuck money to me, but this crypto shit is really fun. I'm digging it.
I actually have about 70k liquid available for investing, but I'm not an idiot. I keep that shit in more conservative investments.
Grayson Stewart
>up in usd >down in sat
Top tier investment there mate.
Andrew Wood
I bought BTC @ 4500 or someshit and doubled my money too in 4 weeks, what's your point lol