Difficult Holding onto currency
I just bought a lot of Ripple, but I am finding it difficult to hold onto it. Even though it was my initial plan. I want to sell it every time it drops a bit.
I really want to ride the profit for the long run. Psychologically I am holding myself back.
How can I overcome this?
I suffered the same problem in the dot com bubble. Finally I hand cuffed my hands behind my back so I could not press the sell button. I made 20 times my money, but nearly starved to death.
Take your profits and rebuy lower. XRP's spike up was always short-lived.
spread out your investment if possible. I wouldnt want to be all in especially with rip.
One to consider is civic. around the same price range but better legs.
best of luck
Yes, spread your investments around, definitely. I am invested in over 10 coins and never really worry when one is down because another will be up. By spreading around you will also pay much better attention to prices, and you will be able to spot when one of your currencies is going up. For this reason, also keep a small portion in BTC so when you see an opportunity you can jump on it.