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RE: ❓Answering Common Questions: What should I Know when I Start Trading Cryptocurrency? 💱

in #steem-help7 years ago

Nice and simple. I appreciate your style. :)
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With experience, I would suggest people keep a journal. There are significant differences between traditional markets and cryptocurrency markets. One difference is that traditional markets tend to obey technical analysis more than cryptos which are still heavily influenced by fundamental analysis, which can be summed up as news & rumors. Likewise, with cryptos still unregulated, there are many pump and dump clubs out there which influence huge price swings that will subside back to normal after the initial profit taking. Therefore it is important to remember something you mentioned, always keep your emotions in check. It is wonderful to go to an improv show or the movies or spend time with friends and family and appreciate the emotional connections. But the markets are cold hearted, and should be treated as such.

I have made some recent posts that are both sincere as well as satirical in regards to reading charts. I am only sharing one as I was able to video the actual moment when Bitcoin hit it's bottom and bounced this morning. I have others that are more satirical, but this one from this morning I believe is timely and shows some technical analysis worth noting.

https://steemit.com/dtube/@jacobts/sed7mw0a

Much love and appreciation for you sharing this article.

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I LOVE the journal idea. I've had to 'guesstimate' certain things where having the hard numbers available would have been better. Haha...make sure to right My Blockchain on the front of the journal! :P

I'll def check out the video. I'm gonna pick your brain a bit when we get to hang out. :)

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