
Getting started in trading can be a difficult process for those who are just starting out. Learning financial terms, charts, price patterns, and the flow of markets can seem overwhelming.
Every beginning trader finds obstacles in their path to navigate that can generate frustration and even discouragement, but as time progresses, practice and constant study can overcome these initial difficulties.
This is why it is advisable to start with one or two cryptocurrencies that are most familiar to you. There are those who prefer to start with a known sector, for example if you like games, start exploring the gaming sector.
Since a good way to better understand cryptocurrencies is to categorize them by sectors, which will contribute to your study and understanding.
This point of view can be an essential starting point to achieve exponential profitability.
By focusing on a small group of assets, those in which you have deep knowledge and experience, you can focus your attention on analyzing the fundamental causes of prices and anticipating possible market movements.
You can focus on one crypto or group of cryptocurrencies, for example NEM, IOTA, Hedera Hashgraph, Basic Attention Token, Hive (Internet of Things Cryptocurrencies) or Bitcoin, Litecoin, Bitcoin Cash, Bitcoin SV, Dash (Payment Cryptocurrencies) or choose a couple of them
Regardless of your choice, the idea is to analyze the reactions of the cryptocurrency or groups of them to news cascades, black swans or other important market events. What that particular crypto or group is doing in these crucial moments.
According to Pareto theory, 80% of the results come from 20% of the efforts, which is why it is important to concentrate investments on the assets that interest you for whatever reasons, in this way you will be more closely related to the crypto under study and its potential performance to make better decisions.
It is not the same as a person operating different stocks, indices, sectors, markets, to whether you focus all your attention and analysis on a group of cryptocurrencies or a single one of them, who will have the advantage?
Luck does not invest in the long term.
It is not possible to know everything about everything all the time.
On Binance cryptos are grouped by sector, however, as it can be overwhelming to follow all the tickets, I have made my own easy-to-follow scheme, I will be leaving an easy-to-understand list if I see interest in the comments.
These are reading times.