What I learned in my first month of cryptocurrency trading

About a month ago I started trading cryptocurrencies, and I learned a couple of things that might help other newbies.

FOMO (Fear Of Missing Out)

I did not think this would be something to worry too much about, but I was wrong (you know, we all think we have control right?). Prices can easily go up or down 20% in a matter of hours in the crypto world, and even though I knew that FOMO trading never is a good idea, I jumped on a couple of "skyrockets". It worked only one time, but all the other times I just got in when the prices started to fall again.

Even though everyone are talking about "hodling" (holding) in chat groups and forums I think FOMO is something many of us struggle with. I found that the best way to avoid this is to simply not check the charts all the time. Do something else.

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Get out if it feels bad

Everyone are talking about hodling (holding) and FUD (Fear, Uncertainty and Doubt). The problem is, if something does not feel right it's hard to sleep at night. It's important to really believe in a project if you want to hold your money there. I bought Verge and Tron and made a little profit on them, but the more I looked into those projects, the less I felt comfortable with them. I decided to get out, and it feels much better. They might skyrocket in a couple of months, but for me it was not right. I moved my money into ICON, and it feels much safer for me since I believe more in their project.

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"Experts"

There are so many "experts" in this game. Truth is, most people don't have a clue. This is dangerous since many of these so called experts have a lot of followers in social media, and they can actually affect prices on "shit coins". They find less popular currencies and pump the price just to make a quick profit. Don't trust anyone in this game. Do your research, and be critical.

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You will miss most of the overnight successes

I would not spend tons of time to chase those 300%-gains-over-night currencies. There are over 1400 currencies listed on coinmarketcap now, and it's like searching for the needle in the haystack. A lot of those projects are just rubbish as well, even in the top 50 there are a lot of projects that probably will fail.

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One week in the crypto world is one year in the real world

No additional info needed :)