1. Do your own research, even if someone is telling you to buy something, do your own research on the project make sure you believe in it and are not just buying it during a massive hype
2. only invest what you can afford to loose, what i mean by this is only invest what you are willing to loose, dont invest something that will finanacially hurt you
3. never ever ever put you private key anywere..... thats how you will easily loose all your crypto
4. Do lots of research, try not to buy on FOMO (fear of missing out).
5. remember you only loose you investment if you sell for a loss, i have seen so many new comers come into this market and buy then freak out when something dips 10% and sell at a loss only to look at that crypto a week later and its 50% up from what they sold at.
huge dips are almost garenteed so dont freak out.
now one other rule, well not really a rule just something i did when i first started, dont check your portfolio every 5 mins.... alot of people come into crypto expecting 10x in a day, its not it does take time.
also its very smart to take profit if something double or even does 50%, my rule of thumb is i take my initial investment out the second something does 50% or more then balances out.
hope this helps. and good luck
Really good advice, but with +2,000 alt shit-coins, to choose and the next 10k% gainer in a day to be a random event, one needs to BUY into 100's to be covered to get the gainers.
There appears to be no rhyme or reason of the top-gainers day 2 day, shit just happens, thus the only rational is to buy all, and perhaps ramp up on winners
Your advice is familar stock-market logic, but there is no logic to this tulip mania ponzi, some of these caps are so thin a guy could rise his coin astro with $100 USD, U didn't mention CAPS, it would be interesting to see your strategy of separating wheat from chaff.
IMHO that don't work either here, some of the biggest SHIT around is in the top 20 CAP, so that doesn't really help filter, I see a lot of the real good stuff as low as 50 in cap sorting ( capitalization in millions ).
Then there are coins & tokens, and there are minable and non-minable; surely the stuff that isn't minable isn't even a real cryto, its just a synthetic IPO.
So given your old-skool strategy how do we apply it to new skook insanity??
Couldnt agree with what you have said more, there was a few things i left out to not over stimulate hahaha, and i also agree with some of the biggest shit being in the top 20,
I do not day trade, i find tokens/coins i belive in the project, eg like you said there are 2000 altcoins out there and around 90% of them are complete shit. i research teams, what they hope to achieve, upcoming releases from them and also research alot of market news, there is alot to take on board with crypto, and like you said, nothing here is predicatable things go up and down for no reason at all.