For those who have been into cryptocurrency for a while, what coins that you seemed promising are not popular as before?
Scams: If It Looks Like a Duck and Quacks Like a Duck, It Is a Duck
This is an interesting read on what was popular in 2017, and what happens. I love the term sh__coins, and seeking some of these for a light hearted side to our portfolio (currently 1% of our crypto investment) is a light relief from the far more serious nature of Forex trading and crypto investing more broadly. Enjoy
That I traded personally:
- EOS (still around but nowhere near $15, still popular)
- IOTA (recent activity starting early in the year)
EOS, BCH and IOTA are all on my “watch list” of about 30 cryptos that I review about every 3 months. You may reflect in future that “you chose wisely”
There’s always the possibility that these projects regain some momentum, but why not focus on projects doing more.
I’m most disappointed in EOS, and still have much hope for IOTA.
I completely agree. Crypto taught me that it is possible to make a really smart trade, then regret it later. I sold BTT mid December to concentrate 90% on BTC. I am not disappointed. But I was developing a longer term strategy during that time and felt a need to “get there quick” in terms of BTC holding before 1Jan21. BTC performed exceptionally, but BTT did a 26X after I sold. Now I am more than ever convinced that my “developing longer term strategy” is on balance a better solution than the "get into 90% BTC that I did late last year. If I had my time over again (and I am sure that will happen soon with XRP) I will never sell all of any holding. As a general rule it’s “if it doubles, sell half of it”. And I have said elsewhere, the problem is “and buy what with the gains?”. Anyway, it is a nice position to be in. My previous Forex-only trading experience had only resulted in losses, and may still do in future, who knows. For me, crypto may be different which is why I spend so much of my time investing and trading in it.
This is a rule should have been tattooed on my hand or arm during the 2017/2018 crash. i would have had the reminder every day to get out while I was massively ahead. You live and you learn.
This is akin to moving your stop loss to entry price in Forex plans. It is a good example of why I consider Forex study to be most fundamental and very valuable to other aspects of life far removed from Forex.