The rule number 2nd that you have to follow if you want to be a good crypto trader is "Do Your Own Research"

Hi Trader

Welcome to the crypto golden rule guide - minnow special. This is the part - 2 ( Rule - 2 ) of the series. You can read my previous post on this series below.

"Invest What You Can Afford To Lose"

Do your Own Research

The very first mistake

Newbies do is, they invest in crypto by listening to other. Many of us get to know about crypto through youtube channels and the mistake they do is, invest listening to youtube channels. If you want to be a good trader or want to learn that how crypto market works then you must "Do Your Own Research" before investing in crypto market.

There is no such problems in youtube channels but the problem is that most of the channels are victim of pump and dump coins. They will tell you that invest in this coin and all the viewers immediately buy this coin and in this case price of the coin will increase or pump unexpectedly and when price of the coin will reach at top youtuber exit from the market and price of the coin dump unexpectedly. This cause huge lose to the investors. And later they regret that if they have invested in this coin earlier before the pump or exited at the right time and again follow the same youtuber, in expectation that next time i will enter at right time and exit at right time. Which is very rare to happen.

The 2nd mistake

Newbies do is to follow crypto investment advise groups. There they will advise you that which coin to buy or sell. This is same as youtube channels and in fact many of are the youtubers, who create these groups. Newbies always lose their fund by joining pump and dump groups.

Study The Coin Before Investment

A good crypto trader always study the coins first and then will invest in the coin or token. If you invest in a coin after your study then you will never regret you choice of investment. No matter if you lose your fund or make huge gains.

So next time never follow any crypto group instead it, learn to study coins. There are many sources in internet who can teach you, how to study a coin or token if it has potential or not. If you always follow groups or youtubers then in even five years you will not be able to invest in market by your choice or confidently.

I hope that you all understand that what i am talking about. You can help me by resteeming this post because i want to cover as many newbies or trader i can.

Best Of Luck :)

Stay Tuned For The Next Part

Please do not take it as a financial advise. THIS IS NOT A BUY REQUEST. It is just my analysis,opinion and result of readings. So before investing in any Crypto currency, do your own research first. I will not be responsible for any losses

Thanks for reading...

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