YOU WILL LOSE MONEY IN DOGECOIN!

Millions of people are going to lose money in Dogecoin.
In this video I will explain to you how you can buy Dogecoin to take advantage of this hype, and most importantly make sure that you profit!
Especially if you do not have much experience in investing this is a disaster waiting to happen!

First of all, why is Dogecoin going up in value? The east answer to that is because of Wall Street bets, and social media getting attention to Dogecoin, mostly for a meme purpose.
There have been many hype stocks throughout the history of the stock market, and especially in crypto.

Dogecoin has not proven to be a great long term hold, instead much more profitable with short term pumps. More likely pump and dumps. Meaning that people will buy Dogecoin for a short period of time just to raise the price, gain some attention to it, and sell it to someone else who now has to decide if they want to hold it until the next random pump, or if they want to sell it at a loss. Now, it’s important to know that with so many beginners getting into Doge this time, there is very likely a large percentage of investors who can not afford to hold Dogecoin and wait for the next random pump, if they get stuck holding the bag.

Are you wondering why someone would get stuck holding? Well, that’s because of the hype on Dogecoin can bring the price up so fast that an inexperienced trader will say something like, “I will sell at 5 cents.” And then 5 cents comes and jumps to 6, and 7.. then they think okay, it’ll definitely hit 10! And then everyone else sells and takes the profit, as you get stuck selling for 2 cents!!

There are a number of ways to avoid this. First of all, you need to understand your situation, your risk, and your exit plan. Can you afford for Dogecoin to go to 1 cent?
The first way to avoid bag holding is to take profits often, there are many videos about this strategy but it is basically to sell 25% at 5 cents, 25% and 6 cents, and so on. These numbers are just for example.
The second strategy that you could implement is to set the price you would sell at before you watch the chart go crazy. This works with up and down. If it drops to 4 cents, I will cut my losses, or if it hits 7.5 I will sell and celebrate!

Remember that it is truly impossible to time the market, so selling 2 cents below the peak is much better than holding something all the way down for 6 months. Profits are profits. You don’t make money until you sell.

#dogecoin #wallstreetbets

YOU WILL LOSE MONEY IN DOGECOIN!

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Kane Dane