5 Rules on How to Not Get Your Ass Kicked in Alt Coins🤯
Rule #1 - NEVER get FOMO😱🚫
We tend to think that if we don’t buy X coin at a certain time that it will go straight to the moon and it will be gone forever.💪🏼🌝🚀📈
Fact: In most cases after a coin starts to run it will retrace to about 50% of where it was before the moon shot. Never chase pumps. There will ALWAYS be better or similar opportunities.
Rule #2 - NEVER sell when your coin is down.🤡
When you see your precious USD value or BTC value drop it can take your breath away causing heartache and fear.💔🤢🤕
Fact: You haven’t lost anything until you hit the “sell” button. For the most part Cryptos will always go up over time as newbies enter the market. If you got into a coin at a bad time all you have to do is HODL until the tides rise. You can place a limit order to sell when you are at break even or at a slight profit.
Rule #3 - Don’t buy a coin when it’s Green unless you know that it is on the move verified by a seasoned trader or investor.✅
When we see a coin in the green it triggers something in our brain that makes us think the coin will continue to run.😰🏃🏽♂️
Fact: As a coin runs people will take profits at different levels. People will panic sell as it drops and others will move their money to other coins they are interested in. If you are patient you can buy when the coin dips and goes red.
Rule #4 - Don’t buy shyt💩coins.
Just because a coin is priced very low does not mean it will take a moon shot someday.
Fact: If you can’t find a lot of info about the project and the team it is prob a shyt coin.
If they ARE NOT active on many social channels, it is a shyt coin. If the devs and the team are putting in their hard earned money and time into it then they would be accessing all free channels to bring brand awareness and build community.
Rule #5 - Do your research!👨🏻🔬👨🏻💻🧠
If you have not looked into a coin then why the heck would you invest?!🤔
Fact: You can go to coinmarketcap.com and take a look at the team, website, coin supply, price, historical data. If you see any red flags like a history of the coin being pumped and dumped or no website, no team, and many others, DO NOT invest.
If you have any questions or comments I’ll be happy to discuss below! Eventually I’ll start to share what projects I’m invested in and some trading strategies I use.
Happy investing! See you on the moon!!!🤩📈🌙
Number sounds a little dangerous
Nice guide for crypto newbies like myself. Thanks for the info!
You’re very welcome!! I’ve made a ton in crytpos and lost $1,000s so I want to keep posting more info so others can gain from my losses and not make the same mistakes.
"Rule #2 - NEVER sell when your coin is down." but I think heading down is okay to sell, if you are confident it is heading down more, and if you like the coin that much buy it back when you are confident it has hit its bottom
True. That’s why it’s important to have stop losses in place and to be confident in what you buy. The main focus of the rule is to make people understand that you are not losing money unless you sell.😁📉
I'm more into long term holding of steem now then trying to trade often, long term hold suggestions, ethereum, neo, STEEM, and bnb
I agree again. I believe about 70-80% of your portfolio should be a rock solid foundation like the coins you mentioned. 15-20% medium risk and 10% higher risk coins for day trading. Just my 2 cents.🤷🏻♂️🙂