Why HODL is not a good strategy always?steemCreated with Sketch.

in #cryptocurrency7 years ago (edited)

Well, while trading in crypto world we hear a lot of HODL especially when we invested in a coin, and it went down.

While one consult around, on what to do and how to recover from the loss, most people advise, and the voice from within comes and tell you to just:

maxresdefault.jpg

HODL is usually good when the coin is a long term investment, and one should not Panic Sell, however, it is always good a strategy to move your investment to a Coin which is clearly growing, and expected to grow.

I would share an example of myself here.

I had invested in Antshares now NEO and Ripple. While I was making some money on NEO, I lost good amount on Ripple after the market went down. Although the market recovered, but Ripple hasn't recovered much.

While I waited for the Ripple to recover, the News for NEO came around for the launch of Smart Contracts NEO 2.0 for 8th August, which clearly gave an indication that the price for NEO will go up.

So rather than waiting for Ripple to recover, I immediately, moved my remaining investment out of Ripple, and moved to NEO.

And guess what!

Not only did I recover my losses, I even made on top of my initial investment from NEO.

Had I kept waiting for the losses to recover, by working on the strategy of HODL, I would have been waiting forever!

Cheers!

Thanks,
Atif

Follow me at https://steemit.com/@atifiqbal1985

Sort:  

Congratulations @atifiqbal1985! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

You got your First payout

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

Congratulations @atifiqbal1985! You have received a personal award!

1 Year on Steemit
Click on the badge to view your Board of Honor.

Do not miss the last post from @steemitboard:
SteemitBoard World Cup Contest - The semi-finals are coming. Be ready!


Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes


Do you like SteemitBoard's project? Then Vote for its witness and get one more award!

Congratulations @atifiqbal1985! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!