okay i done messed up, just hear me out

okay so my fellow coin bugs and coin enthusiast , i have been messing around with the crypto currency doge. got into the whole trend thing and currently at a negative -256$ how do you propose i recoupe my 256$... asap buy more to bring my buy rate down which i brought at .35 a share its now at .24...or just draw my 600$ out... and run..

 

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my issue is i missed the cash out opportunity

 

Hodl.

 

now the question is how is this related to coin collecting

 

thanks ,

 

this is my coin collecting budget to buy the 6 major coins i wanted to this year

 

https://www.cointalk.com/threads/so...lection-in-order-to-purchase-bitcoins.225459/

 

It was started as a joke. A lot of us think it continues as a joke.

Leave your money in, or double down with more, and you might get another chance to cash out this year. Or you might watch it go back down to a few cents, or lower.

Ask yourself whether you feel lucky, because apparently that's what you'll use to guide your decision. Me, I figure "feeling lucky" is just one of those cognitive illusions we're all prey to, and a terrible way to run finances.

 

Do what I do . . . . .

Lose money on every transaction, BUT MAKE UP FOR IT IN VOLUME . . . . . . .

Z

 

okay should i buy ,more shares to reduce my cps rate to even out my expense and return me to a profit making status

 

YES!

 

Consult a financial adviser. Perhaps you might learn to avoid future mistakes.

 

My pet peeve.. The $ sign should go before the number. Such as $256 & $600

 

I delved into Crypto at the end of 2012 and have kept with it. DOGE was made as a meme coin, a joke it had little to no value because of continuous mining. The reason it went up is because of Musks tweets.

You only have a few options here.

Sell, lose out on what portion went down but stopping your losses at that point.

Hold and hope for another pump and dump. Is it possible that it will go back up? Yes When? Who knows....its been steadily dropping since the bloody may fiasco where almost all cryptos bled out millions of dollars.

EDIT : You dont lose anything until you sell.

 

If it keeps going down, putting more money into it is a waste. If it comes back up, that's great -- but realize that you're trying to predict the future, and so far, you haven't been very successful at it.

I remember buying "a dip" in gold back in 2012 or so. It eventually came back up to where I'm in the black, but it took more than 8 years. If I'd needed to sell back in late 2015, I would've lost something like 40%.

With DOGE, there's no reason to expect it'll ever come back up -- unless, as others have said, there's another pump-and-dump.

 

I'd let it ride. Still has potential

 

The good news: you've only lost money that you needed to buy coins, not that you needed to cover groceries or rent or car payments. Look at this not as a disaster, but as a learning opportunity.

 

Buy CAT Coin. The relationship is well known...Cats go up when Dogs go down and vice versa.

Stupid cats.

 

Don't get involved in the first place.

 

In my own opinion, money put into crypto should be your gambling money. Just like entering a casino, bring in only what you have decided to walk away without.

If it were me and my coin collecting budget at stake, I'd eat my mistake and cash out what I had left. If you can do without the money and treat it as a bet and nothing else, sure, let it ride. If you do, consider giving yourself a sell price and sticking to it. Then don't beat yourself up about any missed gains (I recall a quote, "no-one ever went broke taking a profit").

Grain of salt: I am biased. I won't touch crypto because no matter the spin put on it, it is nothing. Or better put, the representation of so many megawatts of valuable power consumed to produce nothing. When I first became aware of crypto (bitcoin) many years ago, I thought it was the stupidest thing I ever heard of. Had I gambled and bought just a little I'd be a multimillionaire today, but hindsight is 20/20. Some people made out fantastically. I stand by my decision because it's still the stupidest thing I ever heard of.