In crypto, trading is by learning, and learning is by doing. There is no hard and fast rule here, but if you trade with a savvy and clear mind, you may not win all, but you will definitely learn all. Here are the top money-making tips I learned in 2023
Met $Sol at $65, and I was afraid of buying. This was a coin I saw at $22 some days back, and I couldnât get over the $40 pump. So, I got curious: itâs pumping, but will it keep pumping? I spent hours tracing the price history, price movement, and trading volume; then I knew I needed to buy this coin. Twitter was on fire too, so it must be worth my money. It was, bought at $69 and sold at $122. How did I do that:
Donât be afraid of the gainers.
I know buying a gaining coin comes with the fear of whether it is set for a dump, but you canât be afraid of a coin that keeps gaining. There is also the itch to check out coins with a similar narrative, but guess what? The chance that theyâll gain as much is just not high. I learned this by comparing IDO coins. While $SFUND, $POOLX, $AVAX, and $GAFI were gaining well, other IDO tokens barely achieved a 10% price surge.
So browse the top gainers in a crypto niche using tools like CoinGecko and Cryptorank. Pick out 5-10 best performers in that niche and be prepared to go deep.
Check its gaining history.
You donât need the coin with the highest gaining percentage, so you wonât necessarily find the best performer interesting. The fear of losing out is real, but fear is also an enemy of a good investor. The gaining history of a coin gives an insight into its price movement. Using tools like CoinGecko, and Cryptorank, you can compare the gain percentage of any coin to see how well it has gained over time.
Do your research
No amount of Twitter rants will stop a coin from dumping, so you might as well be ready to check out a coin very well before buying. There is no hard rule here, but utility is the fundamental purpose of a coin. You must check out the project ecosystem and the coin use cases to know if coin is worth your investment.
What other trading tips helped your portfolio in the bull market? I love to hear it.
Saw a bullish trend in a coin? Share in the comment below.
Letâs keep the gains rolling!!
Stay tuned for the latest #airdrop #ido updates.
This is not a financial advice; rather, it is an attempt to share my trading insights with everyone. Doing your own research and taking risks that align with your risk appetite will always be useful in your crypto trading journey. Stay blessed yâall.
