The Number ONE SKILL That Makes A Successful Cryptocurrency Trader/Investor

in #bitcoin5 years ago

Hello Knowledge Seekers,

When I first started investing in cryptocurrency back in 2015, I used to follow most what people are doing. Buy cryptocurrency because someone said so or some TA graph stimulates most investors to buy and that made me lose more than to earn and that got me thinking,"Why am I following the herd and relying on people and some lines on chart."

But I figured the Number ONE THING that makes a successful cryptocurrency trader/investor and that is the ability to analyse the legitimacy of news. Back in 2015, there was a lot of different news coming out that are mostly not real or do not paint the whole picture to the investor hence the marketplace reacts negatively or positively without using logic but only reading a line on a website or seeing a keyword in a article.

As a trader and investor in the cryptocurrency market I have personally saw pump and dump groups organise false news attacks on the marketplace and funny enough thats what happened to ERC-20 tokens in 2017 and recently with Bitcoin cash satoshi's vision where we saw fake news being spread around.

I never buy when the market is reacting volatile during a certain news article because I know from experience that news media agencies whether in cryptocurrency or in other niches/markets do not paint the whole picture because remember news agencies/media sources are their for profit not info because info takes time, energy, and resources to craft a information piece on news available

The right way is to ignore articles that are positive and focus on the negative because negativity sometimes has positivity in it if you have the ability to analyse analytically you will realise that negative news is not all negative and their is always a nugget of gold in it. You just have to research. As Sun Tzu says.
“Victorious warriors win first and then go to war, while defeated warriors go to war first and then seek to win”
― Sun Tzu

740_Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy8wNmY3YTk1MDNiOWZiODg1ZGNlMjQ5ZDU3ZjA4OWIwMy5qcGc=.jpg

Sort:  

Congratulations @cryptochifu! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You published your First Post
You made your First Vote
You got a First Vote
You received more than 10 upvotes. Your next target is to reach 50 upvotes.

You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

Vote for @Steemitboard as a witness to get one more award and increased upvotes!

Coin Marketplace

STEEM 0.18
TRX 0.14
JST 0.029
BTC 57893.29
ETH 3130.56
USDT 1.00
SBD 2.44