Why I don't use stops

[CryptoLearner]

So I know I'll probably get a lot of opposition to this, but I do not use stops.  First off, I am not a trader, but a long term HODLER.  I only invest in cryptos with a strong team, an even stronger use case, a decent trading volume, low to moderate token supply (unless the use case and team are so strong , ie XRP, that it makes up for the large token supply), and very strong social media community backing and promoting the token.  (If it is an ICO, I want to see a prototype, and not just a whitepaper of ideas with no actual working prototype).  That being said - as of late, I have seen a few "traders" I am friends with, lose their entire holdings due to whales pumping and subsequently dumping certain coins and it crashing below said stop level for a few hours to a few days, only to rise above the original buy level.  We are in the ground floor of this cryptocurrency market.  If you really believe in a technology, and the other factors are aligned, buy your tokens, grab some popcorn, and HODL for a year or two while the traders increase their biological inflammatory markers obsessing over every little cent increase or decrease, which will ultimately prove to be meaningless in the year 2019.  Do your best research and try to pick solid players.  You may still lose in the long run, but at least you can rest assured that you did your due diligence on the companies and focused on those which met multi-criteria standards.

Oh - and if youre a long term HODLER, please get your tokens off the exchanges and use a Nano S, Trezor, etc.  If you're not trading, there's really no need to keep tokens on exchanges, unless the Nano doesnt support them.  Spend the extra $80-100 and have peace of mind, because there's no price for a good night's sleep.

Edited September 30, 2017 by CryptoLearner