ADSactly on ADSACTLY - Part #40 - Cryptocurrency Trading General Advice
ADSactly on ADSACTLY - part #40
ADSactly - Cryptocurrency Trading General Advice
Many members of ADSactly society, as well as a general population of cryptopreneurs trade their crypto on the exchanges. Some trade on daily basis, closing as many sales when the red day turns to a green one, and then wait for next dip opportunity. Some prefer to hold their assets and avoid succumbing to a daily shot of adrenaline rush when the price rises or nervous breakdown when it hits the bottom against all 'predictions'.
The trade volumes of crypto markets are not FOREX-sized nor even close to regular stock exchanges, markets are not regulated, loads of insider trading is taking place, exchanges themselves take advantage of price fluctuations, bots are trading small volumes to influence the price and the pump-gangs are always ready to pick the coin(s) of the day. So, in the crypto market environment, nothing can stop anything from happening.
If we are to argue that practice, let's say that we tend to prefer open battlefield to the government regulations which are primarily created to keep things where they are and not shake anything. What's more, sheep will always be sheep, no matter who cuts their fur. Do not be one.
An insane rise in a number of 'cryptoanalysts' is the trend. People who've never traded in real markets and have never read a proper book on technical analysis are creating charts and influencing people, telling them when is a good time to buy or to sell. Why study it, anyway, when the chances of 'sure guess' is always around 50%? Read several quick articles on the subject, spend a few days observing charts and the mojo is there, a new 'cryptoanalyst' is born and ready to tell people when and where to invest. With 50% chances of the price going up or down and a moderate insight of the general trend, one really needs bad luck to be wrong all the time. Most 'chartists' are complete charlatans, or even worse. 'Crystal ball' predictions can lead a person into buying or selling when the 'cryptoanalyst' is doing exactly the opposite. :)
Thus... All predictions coming from the bottom are futile or even deliberately manipulated. Technical charts analysis alone, without vital information and factual in-depth analysis of every project, may not be worth more than a flip of a coin. Their 'after the fact' outcomes are highly questionable and often wrong.
Please note: this is not aimed at professionals who've spent their entire lives analysing markets and have a very high percentage of being right. Those people we admire, respect and are proud to have them as members of our Society.
In order to make the crypto-trading life of our members and followers easier, we've written a set of hardcore advice on trading that should apply to all situations. The actual success is up to you, your persona, your nerve, your assets, your killer instinct and your courage, of course.
Advice number one: Don't panic whatever seems to be going on!
Advice number two: Never let the advice number one slip your mind.
Advice number three: Learn from mistakes and avoid making them in the future.
Advice number four: If you are late for a train, don't chase it.
Advice number five: Buy when low, sell when still high, never the other way around.
Advice number six: Never sell low because the day is red, you'll regret it.
Advice number seven: Set your mind on the future outcomes, not on 'what if I had done this or done that'. It doesn't matter now.
Advice number eight: Hodl! Scarcity makes the value rise.
Advice number nine: For every sell, there is a buy.
Advice number ten: Never invest more than you can afford to lose.
Let us know if you already follow these or if you got some more!
If you are interested in joining the ADSactly Society, please read the blog series on ADSactly from the beginning. Have all of your questions answered in advance.
ADSactly on ADSACTLY - Part # 1 Open-Value Network / Co-opoly
ADSactly on ADSACTLY - Part # 2 Do-ocracy / Value Network
ADSactly on ADSACTLY - Part # 3 Open Stewardship
ADSactly on ADSACTLY - Part # 4 Society's Value Contribution System
ADSactly on ADSACTLY - Part # 5 The Value of Our Time
ADSactly on ADSACTLY - Part # 6 Cooperation and fair benefits
ADSactly on ADSACTLY - Part # 7 Support local production
ADSactly on ADSACTLY - Part # 8 Cooperation vs Competition
ADSactly on ADSACTLY - Part # 9 Sustainable Social Model
ADSactly on ADSACTLY - Part # 10 Blockchain Technology
ADSactly on ADSACTLY - Part # 11 Support for Decentralization
ADSactly on ADSACTLY - Part # 12 The Importance of Bitcoin
ADSactly on ADSACTLY - Part # 13 ADSactly in Discord (1)
ADSactly on ADSACTLY - Part # 14 ADSactly in Discord (2)
ADSactly on ADSACTLY - Part # 15 ADSactly in Discord (3)
ADSactly on ADSACTLY - Part # 16 ADSactly in Discord (4)
ADSactly on ADSACTLY - Part # 17 ADSactly in Discord (5)
ADSactly on ADSACTLY - Part # 18 ADSactly Clubs
ADSactly on ADSACTLY - Part # 19 ADSactly Tokens (1)
ADSactly on ADSACTLY - Part # 20 ADSactly Tokens (2)
ADSactly on ADSACTLY - Part # 21 ADSactly Tokens (3)
ADSactly on ADSACTLY - Part # 22 ADSactly Tokens (4)
ADSactly on ADSACTLY - Part # 23 ADSactly Tokens (5)
ADSactly on ADSACTLY - Part # 24 ADSactly Tokens (6)
ADSactly on ADSACTLY - Part # 25 Full Stack Startup
ADSactly on ADSACTLY - Part # 26 Artificial Intelligence Government Pt. I
ADSactly on ADSACTLY - Part # 27 Artificial Intelligence Government Pt. II
ADSactly on ADSACTLY - Part # 28 ADSactly Steemit Blog
ADSactly on ADSACTLY - Part # 29 The Future Of Crypto
ADSactly on ADSACTLY - Part # 30 ADSactly on Globalization
ADSactly on ADSACTLY - Part # 31 Blogging on Steemit
ADSactly on ADSACTLY - Part # 32 Social P2P network
ADSactly on ADSACTLY - Part # 33 Projects in ADSactly Society
ADSactly on ADSACTLY - Part # 34 ADSactly - Medium Blog
ADSactly on ADSACTLY - Part # 35 ADSactly - Environmental Protection
ADSactly on ADSACTLY - Part # 36 ADSactly - Sharing of Ideas
ADSactly on ADSACTLY - Part # 37 ADSactly - Centralized System vs. You
ADSactly on ADSACTLY - Part # 38 ADSactly - Taxation of Crypto - Part #1
ADSactly on ADSACTLY - Part # 39 ADSactly - Taxation of Crypto - Part #2
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