4 Proven Strategies to Develop "Diamond Hands" While Investing in Cryptocurrencies
In cryptocurrency investor lingo, there are few traits that are more desirable than having "diamond hands." Unlike the "paper-handed" investors who ditch their coins at the first sign of a downturn, thereby missing out on later gains, having diamond hands implies being willing to hold on to your investments through thick and thin until you're able to take a profit, typically on the schedule of your choosing.
In many ways, in the cryptocurrency market, investing for the long term is synonymous with having diamond hands, and it can indeed lead to great returns. But the fact of the matter is that having diamond hands requires emotional fortitude that's difficult to develop. Here are four strategies I use to build up and maintain my diamond hands that you may find useful.
It is standard investing wisdom to suggest that one should not invest in the stock market using money that one could need within the next few years. The phrasing of that wisdom somewhat implies that you'll probably eventually at least get your money back, but that it might be inconvenient or impossible to do so at various points between pressing "buy" and when the profits show up in your account.
Source Fool.com
