RE: I just bought $427 worth of Litecoin...Bad Decision?
The traders constant dilemma. Assuming you didn't invest money that you will need anytime soon, I think you'll be happy. If you did need the money, you shouldn't invest in markets as volatile as crypto. Even Bitcoin can't be fully trusted not to crash out at the next major scandal. That being said, I think Litecoin, Ethereum and Ripple are going to follow Bitcoins overall trajectory of success simply because of the institutions and people supporting them. No one can say for sure if and when a correction will come, but if you only invest in things that are going places and if you're prepared to go long term, then you will most likely come out ahead. A good strategy for those that suffer from FOMO is to never look back. Instead of buying all at once, buy some to get the FOMO out and then wait. If the price dips you can buy more and not feel as bad. But if you keep buying in and selling out chasing the price then you could spiral down. Never go "all in" on a single investment in the crypto world and always keep some reserves to buy the dips. Cheers!
I use excaclty the same strategy when I FOMO. Buy only small amounts when prices are ridiculously high and buy some more when prices drop.
I learned to read the price charts and try to spot the right buying and selling prices. Of course no guarantees, but seems to work out just fine at this moment.
I like this strategy a lot, good call. I do not need the money, though I did sell a few Ether in order to acquire some of my LTC. Kinda wish I'd kept the ETH and invested a few less LTC. Oh, well...