Why do we buy high and sell low?
When walking through the shopping centres we look for one word. SALE. The act of buying things at a discount bring joy to parts of the brain we never even knew existed. Working in retail many years ago I could always see the eyes of many gravitate to the lowest number of price tags. I have always wondered why the numbers '.99' were used. Tip for everyone - $4.99 is $5.00 and really has no relation to $4.00. This is just some of the simple strategies the retail industry use to get us to anchor to the first number displayed.
However my main point today - why is it when we have burning sales in housing, stock markets and just today in the crypto world why do we not react the same? I'm not talking about a business that claims to cure cancer with its state of the art research facility when in reality it is a shed set up in a town too hard to pronounce with 4 employees and one trustee dog.
We have seen today STRATIS, SIA, ANS, ETHEREUM all hit new lows recently. However each of these companies all have solid foundations and practical applications. They are being applied and used. This blog is not investment advice and I am not a financial planner. Although these are what are regarded by the crypto community as quality currencies. However when we see 'blood on the streets' of all these quality companies we run with fear. Really these are opportunities in disguise these are the discounts my friends! These are the sales! The attitude however is completely different. Investing takes patience and a balancing act of risk and reward. Although we would like it to be as technical and rational as we like we are really just emotional beings that panic when under pressure.
WHAT IT TAKES
Investing takes patience. Sometimes you have to look beyond the myopic view of today and look at a timeline beyond! Low and behold the future! Growth takes time! Facebook, Microsoft and Google all took time to build their brands and build an empire. If you believe in the company and they have solid management and developers like Ethereum trust in them! Investing is forgoing spending today to have more to spend in the future. Hold onto your coins! Hold your sweat! Hold off crying! and in the words of my favourite finance lecturer back in my university days "trading is simply buying low and selling high".
Happy trading guys. Hang in there! After 1st of August we all are expecting that uptick of these discounted cryptocurrencies. At the time of writing there is a retrace in markets and we can see a retrace back to normal!
Well said for Patience... It doesn't help that a big majority is jumping into crypto trading to get rich quick. Hopefully more users will learn to be more patient in the near future... until then, they'll be learning the hard way. The ones that discipline themselves to be patient will get rewarded one way or another.
Most cryptos were -30% this has now retraced to -10%. I picked up a few and this was a very good buying opportunity today I feel.
I agree, I managed to pick up some of the pricier ones that were over-bought a few weeks ago.
Great breakdown, you're right that we have to patiently wait. I'm slowly accumulating more coins.
Did you see the green in the markets today? So different to the red when I wrote my blog.
Hi banglasteve,
Your blog is really good!
Thanks :)
Thanks phrase! Makes me happy reading this.
Solid post. I love the humour in both written style and visual images. Well-structured, great points. Looking forward to more posts like this. Good job Steve. Sending love from Vietnam
Hello Miss Okey! You are more than okey. You are okey dokey! Your posts have inspired me. Sending love from Sydney.
https://steemit.com/mysterium/@biddle/mysterium-the-tipping-point-may-be-today
Great article. Upvoted and followed.