5/3/2023 0 Comments Reddit wallstreetbets lingoIn this situation, you might need to weather tough times before your investments pay off. Still, when you invest in risky assets, the diamond hands approach can be a good idea. There can be drawbacks to it, including choosing poor investments that likely won't pay off or stubbornly holding on to a loser. It's a funny term people use, most often when they have an investment that isn't doing so well. Is there more to diamond hands?Īs you've no doubt noticed, diamond hands isn't something to take 100% seriously. We don't know for certain, but we have a line on eight possibilities. What Is the Next Cryptocurrency to Explode in 2023? It's also a similar sentiment to the term "HODL," a popular expression when investing in cryptocurrency that means "hold on for dear life." Since the cryptocurrency market is so volatile, diamond hands was a natural fit. That year also saw diamond hands become popular with crypto enthusiasts. It really began to catch on during the Gamestop buying frenzy of 2021. WallStreetBets started using the expression "diamond hands" in 2018 or earlier. Or, the term's creator may have just thought it up on a whim. Another is that diamonds are known for being hard, so diamond hands will keep holding an investment no matter what. Why diamond hands, though? One explanation is that pressure creates diamonds, so if you stay strong in the face of pressure, your investments will grow in value. It has popularized quite a few expressions in the investing world, including "tendies" (gains on investments) and "stonks" (stocks). That community is known for two things - touting high-risk, high-reward investments and its love of memes. It's believed that the term "diamond hands" was first used on Reddit, specifically the WallStreetBets subreddit. But no one wants to hear about your diamond hands when your Coca-Cola ( NYSE:KO) shares drop by 0.5%. You can tweet the gem and raised hands emojis while you're sharing a picture of your Gamestop ( NYSE:GME) losses. You can talk about your diamond hands when you hang on to Bitcoin ( CRYPTO:BTC) and it plunges in value. The most important rule is that diamond hands is only used when talking about risky investments. Under the latter definition, if your investment is up big and you want to sell, your diamond hands status is safe. ![]() Some say you need to keep holding your investment for the long haul, even if the price has increased and you can sell at a profit, but most just see it as staying strong during downturns. There are different interpretations out there about what exactly it means to have diamond hands. The opposite of diamond hands is "paper hands," which is a term used to describe an investor who sells at the first sign of trouble. If you have diamond hands, it means you're the type of investor who won't panic and sell off your holdings during big price fluctuations. It's often used by investors on Reddit, Twitter, and other social media sites. "Diamond hands" is an expression that signifies a high risk tolerance.
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