My experience as a crypto novice may serve other crypto rookies, that's why I dare to write these lines
I have been investing in crypto for a short time, but I have more experience in stocks, and recently, I decided to reinvest more than 95% of my portfolio in cryptos, why?
The crypto opportunities that present themselves throughout 2021 are huge, high volatility, high risk, but big profit possibilities, while stocks are at a much more uncertain time.
The first thing I did before starting was to learn, read, a lot! not only the descriptions that etoro has or the first google result, doing your own research is very important in stocks, and here too, even more, because we are talking about high risk.
Never invest what you cannot afford to lose, remember, high risk
There are some terms that newbies may not be familiar with and should be careful to watch out for:
FOMO: Fear of missing out - if something goes up a lot, we all look, we are tempted to invest so as not to miss the trip ... avoid those moments, I myself have been a victim of FOMO in some investment, but I have learned my lesson
FUD: Fear, uncertainty and doubt - also very dangerous, but in the extreme opposite to the FOMO, when something goes down a lot (perfect example in the current moment of the entire crypto market), you also have the temptation to leave, leave, leave and not risk more, sell even at a loss ... but if you've done your research well, you've read, you've been informed; This will give you peace of mind so as not to make the mistake, since you will have made your investments trusting in the project.
We all get carried away by our hearts many times, in fact my portfolio is the perfect example, I have open positions in ALL the cryptos that etoro has, but the percentages are very different, I invest heavily where I have the most confidence; And since the crypto market is a big wave, it seemed like a good idea to close small fronts in all the cryptos that etoro has, since they are few and it is accessible.
Before investing, I thoroughly examined the charts of previous years, and although 2021 is very different due to the large increase in investments, it is also very revealing, for example, it shows how these types of falls are relatively common. If you have researched these things, you will have peace of mind right now.
Obviously there are many other aspects that can influence here, laws, regulations, international politics ... in reality this is not so different from a stock, you just have to know how to filter and trust your sources.
Lastly, and some may not like this, but I say it with all due respect; be careful with the comments here on etoro; people like drama, if something goes up a lot you will only see messages of joy, if something goes down a lot it seems that the apocalypse has arrived and lucifer is waiting with his trident to assault your bank account. I think it is a very attractive part of this platform, but you have to know how to read carefully and treat it in the same way that you would treat a post on Facebook, they are people you do not know, you do not know anything about their knowledge, and you cannot believe that anyone it has the absolute truth.
Be patient, do your research, take your time looking for entry points, learn from your mistakes, and enjoy the experience.
This is not investment advice, it is just my experience, I hope someone can help you stay calm in these red moments.
Any advice in comments is more than welcome, you always have to keep learning and I still have a long way to go.
Thanks for reading me
by : @RuaDeS etoro
XRP Ripple Crypto Currency Trading Investment
April 22 2021