Quote from: EarnOnVictor on December 17, 2024, 06:44:39 PM

In fairness, I don't have any to hold for that long, I dared altcoins since 2022 but holding them too much cost me enough this year to the point that all the altcoins that had given me profits of between 2-6x became a nightmare. Some slipped back to loss and those that did not reach the losing price had decreased their profits to almost nothing. So I started closing them in good profits this month to avoid making mistakes I made. The only ones I have are the bad investment decision on $AI, $BAKE and $BOME, they are all still running in losses with $AI leading the losing. What a bad then!

Buy and hold with altcoins, even some people do get lucky occassionally, is likely more of a drag upon your chosen coin really.

Maybe not so much for things so massive that your scale is really tiny, since you will just get tromped on upwards or downwards making almost no difference at all.

But in general if you bother to dabble in altcoins you are probably much much much better off actively trading or more correctly market-making.

Making sure there is always some for sale and soe buy offers; keeping the top of the buy offers column as close to the bottom of the sell offers column as you can spare to time to do and can afford, things like that.

Keeping the buy offers side strong and deep ready to absorb the "dumps" the "buy and hold" folks, who ultimately trend toward really being just a very slow-reacting pump-and-dump crowd, are probably going to start into once you do "ratchet" the price up into their target dumping range.

Because the reality of it seems to be they are not really buying as in placing buy offers and wiating for someone to sell to those offers and placing sell offers then waiting for someone to buy those offers; oh no, rather, they typically are "takers" not "makers" of the markets, just a slower and maybe sometimes smaller variety of pump-and-dump folk. They drag coins down any typically are absolutely no help in building a strong deep buy-side for their "chosen" coins.

Look for coins with a strong presence of serious builders building the buy sides deep and strong, but preferably still small enough your own contributions can make a real difference and help absorb a good bit of what the dumpers dump; it need not take long at all to not only build yourself a good deep buy-side and a nice high sell-side while taking home everything you originally sent to exchanges and more, once your sell side gets super-high you'll even be taking home profits on the sell side too and start becoming a "whale" even in some things...

-MarkM-