Topic: Do Your Own Research - What Does it really mean (Read 328 times)

Yep. It is both for new and old crypto users. Even though we have done a deep analysis before suggesting someone, there should be an opportunity for a mistake or failure. That's why it is needed to state "DYOR", to realize to people that the accuracy may not be 100% correct and surely no guarantee to success.

Controlling emotion or mentality isn't something easy, even old traders may be out of control once they experience an unexpected thing (bad things). But every trader should have a chance to manage their emotions/mentality well with a lot of experience and good learning during their trading activities. Sometimes experiences make people more mature or wiser.

Following other's advice could be helpful sometimes but the risk associated with it is that a bad project can easily be promoted by a member of the team as a good project if the investors do not have any other source of information.

But it is far better to follow your guideline and do your findings yourself before you buy any coin so doing your research is very important than relying on third-party advice.

Besides looking at the project's team ( this day, many of them like to keep it anonymous), the next important place to look at is the social media handle of the project. That's how I go about my DYOR. Most times, I just go straight to the social media; especially Telegram and Twitter for the project to followup discussions. Interactions there will easily enable me have a feel from tech gurus of what could likely be going on with the project. If the telegram chats show aggressiveness and belligerence, I steer clear. In cases where I acted otherwise, I paid for my blind trust. Again, it's not enough to tell people to DYOR because they may not even know where to look at. There are people who look at charts only for their research and believe it's ok. There are also cases where that worked out well for them. Crypto is an industry full of uncertainty. There's no single rule for all.

It depends on individual and I wouldn't expect anyone to follow my advise what I deem right.

dyor, you alone are responsible for your decisions.

Well, it was a part of the research and this is very important to verify the potentiality of the project before risking some amounts in it for this will give us some assurance. Like what you did is just simply knowing more about the project and this is how to asses if this project can be trusted or not. We are doing DYOR for the sake of not blaming others but just ourselves in case we fail. Because it is our money and therefore, we also know how to decide our own, not relying on other people.

Going back a bit, I once asked my professor what 'do your own research' meant and I got a pretty simple answer that made me think a little hard; it is "never invest in a business, but invest in the person/group that runs the business".
Here I understand that no matter how good and potential the business is, if those who manage it are not competent, the results will be bad. you also mention about community and that I think is true. a competent developer must be able to balance the community they work with and behave as professionally as possible.

I think every trader and investor should at least have this kind of mindset before they invest or trade. The risk of loss in crypto is very real because we involve real money. Analysis should help every trader to make entries at the right time although it is always possible not to be as good as others do. Do an analysis, it is always recommended even though in the end the analysis will not guarantee the benefits obtained.

At least when someone is responsible for their trading and investing activities then they may be able to control their mentality when prices do not match expectations. This is also important for every trader and investor to think about even if they are experienced.

Not actually for newbies only but actually even for old time crypto users because we always don't know the intention of people in internet since they might hide something bad and scam us if we are not keen into details about what we are going thru. As well us if we don't do anything background checking on the platforms we wish to invest so DYOR is really for everyone especially we are in crypto space where risk is so high.

Why do you think "DYOR" is only addressed to newbies? I think it is addressed to anyone who reads the comment. Someone used "DYOR" to remind people that it is just a suggestion/opinion/speculation and he doesn't take any responsibility for the risks. Regarding whether the reader can do their own research or not, I think everyone has the ability to do analysis or research. Even a newbie should know how to analyze something, although his analysis or research isn't as well as experienced people. You can't claim that a newbie is like a kid who doesn't know anything.

There's no limit to taking a research on either a project or speculating on price movement, ones it is appropriately done without misconception and of course there's nothing bad in doing that especially when a fact is needed to be establish by a newbie or even an experienced user
 

this is an aspect that talks only on taking research on currency price by speculation, here you give a closer study on the volatile price movement within a specific time and use it candlestick to draw some highlights to predict upon on a chart flow.


Don't mix it all up, if you're to take a research on a project, its an entire different thing to do from taking research on price movement by speculating the candlestick, so you are bringing two kinds of research together here which are teo different things and should be conducted on different parameters.


Be careful in this regards because many of them have sweet mouth and can say a millions things they won't achieve or work towards achieving, I think all you need here is to conduct their past records and if untraceable then forget it, because they've got alot of means to manipulate reviews and feedbacks and the likes about their project just to seek for many preys.

That is true that the world does not hold too much meaning, but then there are some newbies who will still ask for guideline on how to do their own research, I had an experience with a newbie some time ago where I wanted to introduce a new investment proposal to him and I gave home the name of the company to do more personal findings about the company before investing in the share and he asked me a very simple question that how did he do the research and what are the things he should look out for during his research. That kind of harmless question helps the newbie to get a table of content to research about. So doing your research is a way for new investors to build personal knowledge of the project before considering either investing in them or not.

It’s more on experience that will really help you to pinpoint which one is good and has high potentials and which one is not. The reason why most investors only put a small amount of money for initial investment, so that if they lose, it will be an amount they can afford to lose. DYOR alone is not enough, you have to engage and experience how the project moves, even if it means losing in your first attempt.

You can follow other’s ideas and advices, but in the end the final decision is yours. The reason why we have to make our own thorough research in the first place so we will know which best way to take. Not just for crypto investments but definitely for all types of investments as they have their own risks, most particularly with crypto that is highly volatile and unpredictable.

Do your Own Research = I am not responsible if you do something wrong.
Not a Financial Advice = I am not responsible if you do something wrong.

People use those so they don't get accused of bad advice.
Suppose, You love Trading Bitcoin, and you have shared how you get some profit by trading. But, there are always some people who will try to do the same thing, but they may not be able to get a profit. Everyone has their own strategy and should follow themselves, not others. So, I would also say "DYOR" 

Well, knowing the basics isn't bad as you have put it, knowing all-time high and all-time low is part of a DYOR, any user who out of their time check all that is better than someone who just jumps on the ship because others are buying and also, you see the concept of research varies with people, the way I might do deep research about a project might be different the way MR A will do his own, however, having all the necessary input from different people would help in making the right decision. You may also do your own research and still get mislead by wrong information though.


This also depends on the project, some don't have Telegram or Discord groups. One of the major gathering spots for cryptocurrency enthusiasts is Twitter, but it doesn't imply the platform actively responds to inquiries. I occasionally visit project channels where only the admin is permitted to submit helpful information, users aren't even permitted to post there.

Do Your Own Research (DYOR) is a phrase that doesn't imply to what is written. Its meaning is not denotive, so it shouldn't be taken seriously in the real context.
To be more specific on my explanation, it will be more clear if I say that DYOR is a disclaimer, which means whatever outcome you have as a result of the decision you took is liable to you and would be said it is out of your own research, even when you did none. That is the implied meaning of DYOR.

Doing your own research (DYOR) will be much easier if you know what exactly to research about. Because just checking about a project on Google can also be called research, but not deep research. As you are quick to add a disclaimer to your financial advice and tell whoever is listening to do their own research, also try to point out some key areas for the person to research on as a way of further assisting them to make a good financial decision.

Doing your own research doesn't mean you will make profit. The particular coin/project you are doing your research on is absolutely important, you can follow the 'activities', 'team work' and 'roadmap' of a worthless/pump and dump coin/project all you want, and even if it prolly looked good at the beginning of your research, that won't stop the coin from dumping sooner rather than later, because that is what pump and dump coins do. Thus imo, first things first is to do a mini research about coins that are sustainable/long term, before selecting and then doing your full research on it before investing.

Though DYOR has become a crypto slang but it's the most necessary thing to make profit in crypto. But we have to learn the proper way about researching any project. We should follow all their activities, team works and roadmap to judge a project properly.

One very good friend once taught me: If something confuses you at first sight, then you should listen to your intuition. Whether you're new or not, the fact that skepticism outweighs trust speaks directly to the fact that the project may turn out to be a scam. And of course, all the flags that concern the team and the white document also play a role. But keep in mind that just because everything looks very nice and promises big profits, this does not mean that this will continue in the future. 
In a word, look for cons, and if there are a lot of them, just leave.

For me After reading all the advice from older it's better to do your own research because it will helps you to decides and final your decision in what your plans is.  DYOR actually works in terms of investing in new projects as well because when you invest a new project not only the review or the feedback from others you need to know but also you need to know all about that specific projects to decide .

I hear all analysis always ends with DYOR. Since crypto is close to the project then in fact it is very similar. Whether it's analysis on the project or technical analysis, fundamental analysis on trading.  This means that there are predictions made by people, but those predictions are uncertain, meaning that those predictions still have a chance to be wrong. Therefore the predictor leaves the final decision to the reader. But sometimes someone's predictions also provide a little knowledge and sometimes we can compare with other people's and add our own analysis.

DYOR: Do Your Own Research

It means you don't trust others, don't trust their research, their writings and what they told you. You verify all of those by doing your own research and make your own conclusions. It also means that you are doing due diligent research, by yourself and by taking into account research of others as well.

It is like doing your home work, the more practice you do your own research, the more chance you will improve your researching skills. It helps you to reduce risk to be scammed by others.

Don't trust influencers, they can scam you too by doing sponsored videos, articles ...

Any field of activity where it is possible to lose your money should use your own research. And accordingly, no one's words can be perceived as a guide to action, since financial losses will be borne not by the one who advises you, but directly by you. As you correctly noted, DYOR in this case acts as a warning, thereby relieving itself of responsibility for the decision you have made.

DYOR is used to make a newbie think twice. I use this term not because I want someone to start drawing lines on charts or reading the white paper. Many people do it for the same reason which is to say hold your horses boy, when we see someone being too enthusiastic.

There's a phrase in this community "when moon? when lambo?" which shows the attitude some people have when they hear about an upcoming event like a fork or a halving. DYOR can also be understood a sleep on it, think about it for a few days, observe the market, read more opinions and then decide.

I tend to agree with this, you can't conclude that it's a potential project a first glance.  It should be always best if you will engage closely with them and watch closely their activity before you will decide for yourself and rate them by your own perception based on your DYOR.

DYOR isn't not just reading the all documents of the project like reading the Whitepaper, Roadmap or etc.  It's all about engaging them, joining the community, find the real utility which is you can determine them as a good and potential ones.

In as much as we encourage people to do their own research, there are millions on the crypto space who have little or no idea on how to go about this research in question. its best not to introduce a concept with less knowledge to the next user instead of exposing them to risk. It will more polite to at least show them the how and where to do this research instead of leaving them stranded in the open space of the crypto sphere

To be sincere, I do not see any valid reason about the OP, except advising people that are going for new projects. I may not know much about crypto, but knowing that it is very risky. If a friend of my want to invest, I do not see anything bad if I tell him to do is own research and not trust anyone, even if I just know little.

It's the same as saying "this is not a financial advice", "don't take my word for it"..
It means I gave you an advice but I will not be held responsible if things go wrong. And it's so popular here simply because the crypto market is the most volatile market where things can go really bad.
After all "everyone have to make their own research".

Never mind me, I have deleted it. Check my replies below.

Is this valid when it comes to bitcoin? Also how about Terra Luna and UST that failed? A well established coins like bitcoin is different from just a project that is new. Your point is valid if a project is new, but I do not see it valid when it comes to coins like bitcoin.

The price is studied not because of how the project would last, but to know when the bear and bull market periods.

Not valid if it is not a new project. I do not have to know much about the high marketcap coins like bitcoin, ether and litecoin before I would know that they are worth going for and only research more about what the price could be at some point in time. But I have much believe in bitcoin than any other coins.

Not all projects are new. Yet some projects have all these qualifications in the past and yet failed.

I would advice newbies to just go for coins like bitcoin, instead of new projects. You posts is more about new projects.

Newbie don't research for a coin before venturing into it, for newbies not to venture into lost for any project they want to invest, is to make a proper investigation before purchasing the particular coins, when we are emphasising on research fir investment, it point directly to a project research, and project research shall enable you peruse into the project and find out the volatility of such projects. While if it's a project of cryptocurrency, its to know the proportion of crypto's.

the title "project" itself was adopted because often the development itself took a long time. before it came to the moment with market, price or even candlestick.

I guess, for experienced marketers candlestick ar (and) horizontal line can be enough for daily trading.

doing your own research is definitely a good habit, but even that does not necessarily guarantee safety and good decisions. Still need to know how to "read" all things, communities, engagements... For example, what is the value and what can the community tell us, where more than 70% of members came through the condition for participation in the airdrop or bounty program?

Project is not the same as price or market. A project can be liken to a coin, token, NFT, or any other digital asset. It is like an umbrella housing different digital asset class. To avoid making too much complexity in differentiating them, project is more collective enough to group all together. If we chose to use crypto to address them all most digital asset are not crypto related so i think its better addressing them as project

Please I don't understand why project is used instead of "market or price". Candlestick is just a preamble of the market survey. If one really want to understand the market candlestick does not follow for the analysis. Although candlestick helps to understand the market at the initial time and also the horizontal line also helps to know whether the market can break through or not.

People say Do you own research to wave any responsibility for their words, and to add some sophistication to their advice. On practice it's a meaningless phrase, because newbies don't know how to do their own research, and if someone were to teach them, it would no longer be a newbies own research. Trading is the only sphere were people are told to do their own research, and it's not a coincidence - this phrase is just a waver of responsibility. No one tells people to do their own research in language studying or farming or mathematics.

DYOR has become a regular slang in the crypto space that its even used often than its needed. I beg to say this that many crypto enthusiast who use this word don't even know how to start a research about a project. Some feel it starts and ends in chart patterns, ATHs and ATLs. Making research about a project goes beyond mere candle stick interpretations and its even deeper than price actions and volatility, Market Capitalisation and total supply can be considered as a measure for predicting a good project but its way deeper than that. Not all white papers are even sincere enough to stick to the plan of  the project.

A project that will be profitable on a long run must have an active community and a good Moderation most especially for a decentralised project. Such project must have good engagements and rules governing the community. The mod will be active to attend to complaints, disputes, questions and the next plans or phase of the project. This way you can tell if there is possible liquidation in the near future.

I am not saying studying price action and candle sticks don't have a part to play in determining how far a project will last. But i feel the best way to know the intent of something is through engagement. A research can't be done outside it's main domain which is it's community. To get the best of any project at all it takes active participation, question and contributions that way you can tell if a project has the tendency to last on a long term goal