Newbies are Chasing Shiny Objects in Crypto Currency Trading.
If You are New to Crypto Currency Trading, this Post is for You
You see newbies are all part of the same Facebook groups and read the same articles on Coindesk, Coin Telegraph and Bitcoin.com. This leads to some pretty comical action in the crypto sphere. If you have an eager group of people awaiting the hottest tip in Crypto Currency they will all jump on it.
This is How They Look When News Breaks.
You know how I know? I was the same way a few years ago. I had all my Google alerts set to the Crypto news outlets and constantly hung out in the Google Plus Communities, Facebook groups and on Twitter. This led to some major disappointment as I could never get those huge gains everyone was talking about.
Watching a bunch of children play soccer is the best analogy I can think of when trying to explain newbie trading strategies in Crypto Currency.
What You Can do To Avoid Getting REKKT.
- Accumulate good projects when no one is talking about them. Article
- Buy on rumors and sell on the news. Article
- Take a percentage of profits when a Crypto Currency is rising. Article
- Follow the Devs and join the Slack channels of the projects you are interested in.
- Do not buy without educating yourself first.
Here is Your Buying and Selling Cheat Sheet.
Now Get Out There and Start Growing Your Bitcoin Stack!
LMAOOOOO this made me laugh out loud, Especially when I saw all those kittens.
HAHAHAHA, kids playing soccer. I was once like the person you are describing but I like to think I grew up. Keeping track daily will make your head spin.
Now I just listen to pros and HODL... lol
Thanks for another humorous and intelligent post.
Haha when you said "if you are new to crypto trading, this is for you" this really got my attention! Some great food for thought @hilarski thanks so much for sharing, i think i need to sit down a do a little more research :)
Time to get your first 10X bagger. Then flip into a few more 10X's. That is how you become a whale. ; )
Thank you 💙 Love following yourself and your wife! Talk about relationship goals! Hope you have a great weekend!
How do you find about upcoming projects to invest in them early?
By the time I've heard and want to get in it already feels too late. AntShares for example went crazy earlier in the week. I was tempted to get on board but they're already risen substantially, still had further too go but I always feel like i've just missed the boat
i was just thinking the same about antshares.
Find projects you like and accumulate the tokens when no one is watching. Siacoin is a perfect example of a token that I have been accumulating for a while. I researched the project and liked what I saw. I bought at around $.01 and now it has doubled. I am hoping for a 10X move in the next year. No need to sell when you buy super cheap. Antshares was a good example of a screw up for me. I bought months ago when it was under $1. I sold about 4 weeks ago before the big move and missed out on the 10X move. Patience is key.
I've been eyeing off Sia and Golem. Got a small amount of Golem but after hearing the news about SIA getting ASIC devices yesterday I decided not to invest, what are you thoughts on this? It'll shut most small time miners out of the network due to it no longer being profitable to mine on a cpu/gpu
Although I really like the idea of SIA and I find it hard to believe that the value will continue to increase when it is far cheaper to pay for AWS or other storage. I want to believe though, I keep looking at cheap coins that're under $1 per coin because I don't have much initial capital to invest
I did not know about the Asic miner news. I will have to look into it more.
It hasn't appeared to affect the price in the way I expected. I may be wrong about thinking Sia is over valued.
Good to hear u pros still miss out sometimes, am exactly the guy u described up there reading up trying to findprojects i like. Thanks for your hilarious description of me lol
I got into Antshares about 3.50, but stayed in when it drove up to 14 before settling back down to what it is today. So my problem is not getting out at the right time.
Patience is definitely key and I think it helps to have a predetermined exit strategy in place before making any trade, especially in #cryptocurrency. If one's time horizon is long-term, there is minimal reason to sell aside from recouping the principal stake upon significant appreciation in the underlying asset.
Ultimately, it's exciting to be a witness to the advancement of #blockchain technology from early on in its adoption. I joined #steemit to engage in thoughtful conversations like this and appreciate your post on the responsibilities inherent to navigating the crypto market.
I'm laughing a lot here kkkkkkkkkk
Excellent article
Glad, I could entertain!
Haha i saw Cute kitties...great information :)
BTC, ETH, ANS and HODL
@hilarski, nice post friend. thank for the news
Not only newbies getting rekkt. lol
cats are so cute! thanks