Why HODL is not a good strategy always?
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:
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
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