- HODL, only patience makes millionaires.
- If coin is already up more than 200%, do not buy.
- Dips usually happen in weekends. If the coin was going strong through weekdays (or vice versa).
- Buy when coin is down 20-30%, not when it's going up.
- Smart investors hold for long. They think in years, not months.
- Look for ICO's where you get more tokens per dollar. Spend $1000 buying 10,000 each. If one hits $0.1, you win.
- This is important - see number of tokens of an ICO and corresponding market price of same number of tokens for other cryptos.
- For ICO - check if the amount is locked in escrow for a period of time or not.
- Network tokens are valuable. That's one of the reasons why cosmos sold out fast and Kyber has 50000 people on it's slack
- If market is going up, it will come down also, but to predict when that happens is the key.
- In the future, only few of the ICO's will survive(remember DIEM), make sure you know what to keep and what to sell. You need to keep an eye on the development team and see if their progress is acceptable.
- Use (offline) random string generator for passwords, then store passwords into a password manager program, back up password manager file in zero-knowledge cloud storage. This way you never type in your passwords even once.
- If you worry about price and not the tech, you'd only sell after declines and buy after growth.
- Investigate causatives, reading into price emotionally is like waiting for the newspaper reveal of a crime then calling the cops.
- The majority XRP(~75%) is held by one company, but not one person. It's centralized, don't invest in it.
- Do not insta trade. Trade when you're calm. Better to put sales on order and let it be executed. Check market depths before putting them on order. See how the coin behaved in several months. Don't day trade. Only do positional trading. Anything above 3x leverage is gambling.
- Also, Scared money don't make money.
- Good ICO traders, make money on others research, great one's research on their own. They research the founders, read their whitepaper, look at community support, look at long term vision.
- Eth took 3 years to reach 240$. Be patient!
- Don't ever buy a coin on day one release on exchange. Make it a rule for yourself unless the coin drops 75%.
- If you see a sell wall being broken, sell higher. ex - qrl
- It is a pity that most of the money made in ETH does not know what real utter failure looks like. Even the concept of a block chain might be overkill for most projects. Why does everything need to be on a block chain?
- There are some new youtube wannabes, who jumped on to hype and making videos about what coins to invest in. They have least idea about how this market works. Most of them will vanish with advent of near market.
- It's good idea to sell ICO tokens as soon as they hit the market. QRL was an exception, but every other ICO coin went down after first 2 days. Plan to re-enter later. Always do that.
- When margin trading, do cost averaging. Don't buy all at once. Increase/decrease margin position slowly.
- Avoid coins that have large total supply, they won't reach $1 easily.
- Never regret in taking profits. At the end it's only digital money unless you spend it.
Thursday, August 31, 2017
Some experiences with Blockchain Tech and crypto trading
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