Buy and hold is a hit and miss method, sometimes it works...One of my posts you responded to was actually a rhetorical question, "how do tradfi people trade a crypto asset like Pepe that is very volatile"?
The way I do it and others may have their methods is to treat it like an asymmetric risk/reward investment, all or nothing, or more often than not, a big loss or a big return
When I first got to Pepe, it was about 3 weeks ago and I posted here, it crashed the next day, went down about 50%. and I tripled my investment from to about $7k (did not enter the yield farm until a week later, so I'll separate that as a position, that yield farm actually returned all risk capital on Pepe plus a little bit of profits)
$7k went to $42k, then it pulled back to $20-something k, then it went to $50k, I posted here, then it went to $72k within 2 hours, then that night I closed the yield farm but the $7k has gone up to over $130k by the morning and I cashed out, I posted here a little bit
$100k down to $50k right now. But if you look at paragraphs above, I am incapable of timing tops and re-entering when it crashes, so as Jesse Livermore has said... It was always my sitting that made the most money
So I sit on my Pepe position for now...
There is good news, I cashed out about $5k profits on Mong position earlier today... the bad news was that it was about $17k profits after the first day I had it
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B&H is easier to do but brings average returns, if you 'work' something, this takes more effort and skill and brings better rewards.
There is more depleted emotion living through large drawdowns, horrible feeeling of large amounts of money disappearing.
The mistake many traders make (not talking about you) is they have regrets within trading.
Regret they didn't exit, regret they did exit, regret they bought, regret they didn't buy.
It's the regret they have that they exited and price goes against them which is the killer for them, hence buy and hold.
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