Sunday 23 January 2022

Feeling the burn | What are you doing in this sea of red? Keep calm and buy the dip?

When the market opened on Friday night, wow, my portfolio was a sea of red. Tesla ended the night at $943 and ended at $936 in after hours, both numbers we haven’t seen in awhile and with my majority of stock holdings in Tesla, my portfolio has taken a beating.

On the other hand, cryptocurrencies has been dipping to levels that are pretty scary, with Ethereum (my biggest holding) breaking below $3000 and Bitcoin in the $30,000 territory. I am ready to do some small buys. nothing too big at the moment as we are not sure if low can go lower. I have also stopped looking at my portfolio ever so often during this period because some times it’s better not to know how low it has gone haha, to allow yourself to still have the courage to DCA in.

More pain ahead

I think we all have to be prepared for the dip to go lower and not to be too affected by it. I will still stick to my DCA plan but will also observe from the sidelines if my cash position is not robust enough and I will build it up further. I mentioned in my end of year portfolio that I am low on cash now and I like to build it up. What a great timing, haha, the dip comes and it seems like a great time to buy but cash is low.....but do always assess your situation first before diving in. So for now, small purchases for me.

Read more: Let's go! 2022 | Financial Goals

Having a peace of mind and the ability to HODL is very important during this period. If you are anxious and don’t want to buy the dip but instead hold more cash, so be it. You do you for the peace of mind but I would slowly buy in small amounts considering the many options where you can buy fractional shares and crypto allows for small amount purchases as well. Do not sell during a market downturn unless you really need to, fear and anxiety might get to you but be calm and know that the markets work in cycles. 2021 was a great upwards and it’s time for the roller-coaster to go down so wait for the next upward ride although no one knows when.

Allocation of cash is important for me, know what you are investing in

I am now building up my cash and stablecoins position which to me is great. My plan is to invest small amounts currently, build up cash and stablecoins and then once that is sizable, I will increase my investment amount. Everyone faces different situation and hence the allocation differs. For me, I really went all out and invested a lot so in 2021 hence I will take it slow in 2022 and invest what I can.

Read more: End of Year Portfolio Review & Reflections | Inching real close to $100,000

Of course, if you have conviction in your investments and have done your research, then it is really a great time to go in. Getting what you want at a good price is not gonna happen every time so if you have been waiting in the sidelines and know what you want to invest in, go for it! You can also make your holding earn you yields while you HODL them eg. using staking or lending to make sure your assets are generating yield even in this red market.

Time to catch up on dramas and buy when my pay comes in

Usually when there is a stock market downturn, I tend to read less news as news outlets would tend to focus on how much has dropped and we tend to remember negative news than good news reported. But I would still read and research more on the current conviction holdings that I have. So move your attention away from the negativity and use the time to learn and understand more. If not, it’s a great time to catch up on dramas or TV shows and when my pay comes in, the allocation begins. Stay safe and get yourself ready!

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