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I was supposed to write an article about my first two months on this platform, but sadly, I can't do it right now. We actually had to take the computer table outside to give it a new color, so anything related to computer works is not possible tonight.
This is why I come up with this idea to share my strategy when it comes to HODL. This is NOT financial advice but just to share with you how I gain even without doing a Spot Trading or Future Trading.
Yes, you can still grow your earnings the simple and easiest way. If you're interested to know my strategy, then be sure not to skip this one.
Whether your earnings are coming from this platform or noise, you must know how much you've earned per platform. This means you have to write down all your income per site. That is the first time to help you monitor how much capital you put up to your main HODL wallet.
You can do it daily, weekly, or monthly, but I prefer doing it daily or sometimes, weekly, so when the pumping comes, I can enjoy every bit of it.
So how exactly did I do this?
First, I make sure to have separate wallets per site. One for reading, another one for noise, and an extra wallet for the main HODL, where both earnings will be combined in one.
Next, I track down my earnings using a spreadsheet because it's less of a hassle and everything is well-calculated.
So every time I earn and decided to transfer a portion or all of my earnings on the main HODL wallet, I input it into my spreadsheet. Example: If I earn $20 today on read and $5 on noise and decided to only transfer half each, then I would input $10 on read tab and $2.50 on noise tab.
Trust me, if you had no idea how much BCH you put into your wallet, it will be hard to determine if you're gaining or not, or how much you have gained or lost when the price changes.
This is why tracking your earnings is the first step for a successful HODL.
So when it's a bull season, I make sure that my attention is on the market and the spreadsheet and the wallets are ready. So when the price goes up, I just update my spreadsheet, and voila, the PnL (Profit and Loss) appears. When I see green amounts then I would instantly 0take the profit by either swapping it to USDT or send it to my Binance account.
Swapping back my USDT to BCH means buying more BCH using the profits I made during the bull market.
Take note: Only swap your USDT to BCH when the price is LOW.
This swapping at a low price is perfect for increasing your capital. Remember, the bigger the capital you have, the bigger profit you get. So it's good to use your profits to accumulate more BCH at a low price.
There you go! I've just revealed my not really a secret recipe in HODLing and growing my BCH. Here's a bonus part:
When you decide to reward yourself for your progress by buying an item using your BCH, DON'T USE YOUR MAIN HODL WALLET BUT MAKE A SEPARATE WALLET FOR YOUR GOAL INSTEAD.
For example, in my case, I set a wallet named as My BCHouse. My goal is to save 30% from the articles I make each day. This means 70% from my earnings on read will be transferred to my main HODL wallet while 30% to My BCHouse. I don't use my main wallet for anything unless if it's really urgent.
This way, I can still secure my HODL and can still be committed to my goal while also saving something for myself.
It's not easy to HODL, especially if saving money isn't your thing, but always remember, to achieve your goal, you need to learn the basic way of saving.
Honestly, I learned to save money at a very young age. I became a treasurer and auditor back in my grade school days to high school and college. I have handled a small group of people at work for our joint savings account several times. I handled up to 300K pesos or $6K yearly, so I know the importance of notes and spreadsheets.
I would not say I'm an expert on this but when it comes to saving money, I am committed.