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<p>[QUOTE=&quot;GDJMSP, post: 2973502, member: 112&quot;]As has been said already, coins are lousy investments for quite a few reasons. As I have posted many times, to make money on coins you have to 5 things.</p><p>1 - buy the right coin</p><p>2 - buy at the right price</p><p>3 - buy at the right time</p><p>4 - sell at the right price</p><p>5 - sell at the right time</p><p><br /></p><p>Get all 5 right and you will make money. But get just 1 wrong and you will lose money.</p><p><br /></p><p>To a large degree the same things are true of any investment. There is always risk involved with investments, any investment. But there are things you can do to mitigate the risk and it applies to coins as well. One of them is this. First set a goal for profits, a percentage in other words. Put your money on the table when you think the time is right, when your goal is achieved, take your money off the table and realize your profits. You can do this two ways. 1 - if you think things still look good, you can leave your original investment amount on the table and merely take off your profits. Or if you are not so confident you can take it all off the table, and then wait until you are confident again before reinvesting the same original amount - thus protecting your profits and only risking the same original amount. And you don&#039;t have to always use the same investment vehicle, you can switch from one to another depending on the circumstances. </p><p><br /></p><p>Here&#039;s the thing, all markets fluctuate - up and down - and every investment has a market. And they often do so for reasons beyond our comprehension, and at the most inopportune and completely unexpected times. Today this is good, tomorrow something else is good, and you will never know, can never know which is which because investments can only be judged in hindsight. And to a very large degree it is all dependent on luck - pure chance. </p><p><br /></p><p>Do people say things like - that man&#039;s a genius because he made great investments ? Sure, of course they do. But they only say that after the fact. And there are just as many times when people say - that poor sucker, everything he did was wrong, lost all his money - also after the fact. And in both cases it was just plain luck, good or bad, that he did what he did when he did it because nobody can ever foretell the future. Did he make the right decisions or wrong decisions ? Yes, in both cases yes ! BUT you have to make those right or wrong decisions at just the right, or wrong times, to determine the outcome. And being right, or wrong is just plain lucky or unlucky.</p><p><br /></p><p>This why taking profits of the table when your goal is achieved helps you to avoid the effects of luck - things happening that you have no control over and cannot expect. In other words don&#039;t be greedy, it is better to achieve a little than it is to lose a lot. You can always roll the dice again and reinvest the original amount - while your profits are safely tucked away where you cannot lose them. Do that a couple of times and your original investment is fully realized - as profit. From then on you&#039;re playing with house money.</p><p><br /></p><p>Now would I ever do this with coins ? NO ![/QUOTE]</p><p><br /></p>

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