These 10 guides have kept me sane. I am lucky enough to have read them when I was starting in crypto. I believe new bloods in crypto should read and understand this.
1. Commit yourself to becoming an expert in all aspects of cryptocurrency (mining, fundamental & technical analysis, etc.)
2. Only invest what you can afford to lose, and be okay with the fact that you might lose it all.
3. Learn/Experience altcoin bubbles & herd behavior. Remove your emotions from the process.
4. You can't be correct 100% of the time. Expect to lose sometimes. It's about optimizing your percentages, not perfection.
5. Always keep your mind set on the end goal (no more salary/slavery) and focus on how to achieve that.
6. Become a master of reviewing altcoins, learn how to spot a scam so that its almost instant when you look at a shitcoin.
7. Diversify into as many quality altcoins as you can. That way you can experience market bubbles thousands of times over. If you hold all the coins and accumulated them for cheap, you've lowered your risk and win every time there's pump.
8. You must understand the time dimension. All losses/profits are temporary until you've made the trade. All altcoins are related but on their own market cycle. Most of your coins are winners but u need the patience to wait for the right time to make each trade.
9. HODL until moon or grave. Store your top cryptocurrencies for long term gains. You need strong hands to hodl through shakeouts.
10. Find or create a group of like minded individuals to share your research and investment ideas with.
1. Commit yourself to becoming an expert in all aspects of cryptocurrency (mining, fundamental & technical analysis, etc.)
2. Only invest what you can afford to lose, and be okay with the fact that you might lose it all.
3. Learn/Experience altcoin bubbles & herd behavior. Remove your emotions from the process.
4. You can't be correct 100% of the time. Expect to lose sometimes. It's about optimizing your percentages, not perfection.
5. Always keep your mind set on the end goal (no more salary/slavery) and focus on how to achieve that.
6. Become a master of reviewing altcoins, learn how to spot a scam so that its almost instant when you look at a shitcoin.
7. Diversify into as many quality altcoins as you can. That way you can experience market bubbles thousands of times over. If you hold all the coins and accumulated them for cheap, you've lowered your risk and win every time there's pump.
8. You must understand the time dimension. All losses/profits are temporary until you've made the trade. All altcoins are related but on their own market cycle. Most of your coins are winners but u need the patience to wait for the right time to make each trade.
9. HODL until moon or grave. Store your top cryptocurrencies for long term gains. You need strong hands to hodl through shakeouts.
10. Find or create a group of like minded individuals to share your research and investment ideas with.
Those all things are good, but take my advice,
Invest and leave it, find something else to keep you busy, get a life, learn something new, expand your skill set. Just observing market all day will not make any difference, going outside meeting people will create a connection and you can learn something new.
