This thread is for iron hands only. If you panic sell, margin trade, or succumb to FUD, you are not allowed to post here.
What is Iron Hands? Iron Hands is a trading philosophy that believes that trying to time the market on a micro scale is the fastest way to lose money. We try to remove luck from the question by buying into projects we believe have a serious future and holding our positions for months or years.
Why hold instead of daytrading? Because the vast majority of people who daytrade lose money. With luck on your side, swing trading CAN be much more profitable — but the odds are just as good that you’ve called your position incorrectly and will lose out. Beyond the financial benefits of holding, the best thing offered by holding is peace of mind. Iron hands are numb to the feelings of despair and panic that cause other traders to sell at a loss. Because we look ahead to the horizon, short term bearish trends can be ignored.
Why is margin trading bad? Cryptocurrency is an unregulated market. This is both a great thing and a terrible curse. There are several instances in recent memory of enormous, manipulated short squeezes liquidating millions and planting that money firmly into the pockets of the exchanges. Remember: margin trading is gambling at a casino where the house openly cheats.
What do Iron Hands hold? Anything and everything. If your hands are made of metal and your eyes are on the future, it doesn’t matter what’s in your bags.
