NANO Long Term

1 มิ.ย. 2018

One of the simplest strategies in trading is to buy and hold. To succeed with this strategy you need to dollar cost average your position. It's not recommended to put a lump sum of money in all at once. Rather buy periodically. We all know that you are supposed to buy low and sell at a higher price. Yet somehow people lose money because they buy high and sell low. It sounds counter intuitive but many people may start off doing that when they start trading. It's very common to lose money when you start trading, I know I did. The best thing you can do is to buy a fixed amount periodically. So if your technical analysis skills aren't where you want them to be this is the easiest thing you can do. Say every month you put $500 into crypto, especially in a bear market. Over time the amount of crypto you own will go up even if the dollar value goes down. The day we recover and return to a bull market is going to be a very good day. It's not about focusing on the value of your money in terms of fiat. It's about how much crypto can you accumulate. While the value of your coins may be dropping you have to realize that in the long term, assuming the coin is fundamentally sound, they will be worth a whole lot more. That's what may make trading difficult at times. You see your portfolio crashing but the amount of coins you actually own doesn't change. For long term traders focus on buying as many coins as you can rather than focusing on the dollar amount of those coins. Nano is currently at an all time low since being listed on Binance. You never know the lowest point of a coin until later on. Is this the lowest nano will be? Say this is the lowest point and the coin takes off, you'll be wishing you had bought when it was low. Huge potential for when nano returns to it's previous highs. Even if goes lower than what it is now simply dollar cost average your position. Don't buy AFTER it goes up significantly, buy BEFORE it goes up.