Taken a look at your portfolios today?
I will advise you don't check your portfolios as all markets are bleeding. Regardless of whatever the market is, the dip in value cut across all sectors and industries of all financial markets. Social unrest is to be blamed for this present occurrence. Truth be told, no one is sure of when all this will be a thing of the past.
War looms at the moment and only respect for humanity might stop this from becoming a full-blown war. Some are already tagging this to be a third world war. Most of the people with this utterance are people who have never experienced what a world is and hence, they see it as a child plays. the brave fears war because it only brings about destruction to anything in its path.
What is the best advice for anyone still trading?
Well, I have no answer to this as I am just three years old in this space and I have never come across a situation like this. The experts will have an answer on the way forward for a situation like this. What I can do is to share what I have done as I have been rocked by the current situations.
WHAT HAVE I DONE?
I have converted all my coins and assets into stable coins as all financial institutions are quite unstable at the time of writing. Just this morning, I woke up to the news of PUTIN launching an attack into Ukraine and I instantly checked my crypto wallets to see what is left.
I have always heard that during the war, stock crashes and the market collapses. I am witnessing that fact at the moment. The war has not even started fully yet but we can expect it to be blown in no time.
What's the forward?
The truth remains that each individual has their game plan regarding what to do as war looms even higher. A trader strategy will be different from how a long-term holder. Investors or even a developer will see things from angles also. As for me, going forward, I am going to be converting 40% of my crypto income into stable coins. When things stabilize or when the war had ended I can then start buying from my saved stable coins.
This is not financial advice for anyone to follow. This is just an insight into what I have done in order to position myself. In fact, I feel the steps I have taken might not be the best but I have decided to leave with the consequences.
In a nutshell, at the end of the day, we have to make a decision that we could live with. We live in a very unsettled world at the moment and we could only hope that differences are settled and our decision made favor us in the end.
I end this post with a note of prayer to every writer on this platform who resides in Ukraine or Russia at this time of turbanance. I hope this nightmare ends at quickly as it started. Have a great day everyone and says a word or two for these countries. SHALOM.
Posted Using LeoFinance Beta