hi guys i'm gonna share with you some Thoughts and Things cryptocurrency enthusiasts probably won't tell you also its my first time on steemit, So please be gentle
#1 DON'T BE A BLIND BULL
don't just expect markets to go up forever all markets are cyclical let me say that again ALL MARKETS i don't care if its crypto currencies, the stock market, housing, gold ...markets go through cycles and over the past seven or right years BTC has gone through about half dozen big boom and bust cycles so you need to learn how you can also make money when prices down
#2 DECIDE&IGNORE
number 2 is decide what types of trades or investments you'll take and ignore everything else about 90% of market activity is actully nothing but noise so if you can remove the noise create a plan know what types of tradesyou look for and push everything else to the side its gonna free up a lot of time and help focus on what actually matters
#3_THE_BES_ STRATEGY_FOR_DAY_TRADING_CRYPTO_IS_TO_DON'T_DO_IT
#4 THE BEST WAY TO PROFIT
the best way to profit in any market is to find something that you think has big profit potential early before the mass amount of market participants or investors know about it and invest assumming youre going to lose 100% of your capital ( angel investor approach)
#5 YOU CAN'T CONTROL THE MARKET
the only thing that you control is your entries, your trade size (how much capital you put into a trade) and your exits everyting outside of that is out of your control
#6 DON'T BLINDLY FOLLOW TRADE ALERTS FROM ANYONE
number 6 is become a self sufficient trader or investor don't try to just blindly follow trade recommendations from anybody especially random people on social media or chat rooms its one thing to look at other successful traders and try to model what they do but actually learn what you re doing and understand risk management and trade setups and know why you re getting into a trade because if you re a sheep and you re just trying to follow like pump-and-dumps groups YOU'RE GONNA LOSE money
#7 PONZI SCHEMES?!
all financial networking marketing projects or multi-level marketing or anything that requires you to recruit somebody to get paid any project like that is a ponzi schemes period i'm looking at you bitconnect.
so thanks fo reading i hope it was helpful for you i put a lot of thought into it tell me what you think in the comment below.
take care.