Everytime influencers shill a project youâd notice they always add âDYORâ
Now you might be wondering
âȘïžWhat is DYOR ?
âȘïžHow can I DYOR ?
âȘïžIs it hard to DYOR?
In this article, I would help you understand how you too can DYOR and make your first x2-x10:
DYOR is an abbreviation for DO YOU OWN RESEARCH..
This article is for you if :
âą youâre looking to getting high paying jobs in the space
âąyouâre looking to make your first x10
Here are somethings I wish I knew in my early days of trading and job huntingâŠ
It s very important to know why youâre buying into a project or when to even get into a project
RESEARCH: is the systematic investigation into and study of materials and sources in order to establish FACTS and reach new CONCLUSION.
Now that we know what a research isâŠ
There are 3 basics of research
âąTechnical analysis
âąSentimental analysis
âąFundamental analysis
â«ïžTechnically analysis is basically the use of past price action to make probabilistic forecasts of price movements
It is a method that helps one understand what the market has done, what it is currently doing and what it would likely do.
â«ïžSentimental analysis is basically the study of what everyone is feeling about an asset, what are people saying and what you think about their opinions
This could be what influencers are saying about a particular asset or project..
â«ïžFundamental analysis is where our main focus would be, fundamental analysis is simply carrying out your due diligence on a token/coin in other to know:
-if you should invest
-when you should invest
-the quantity to buy
-how long to hold for
-why you should invest
NOTE: while making research your aim is to make the project look BAD
This sound off right ? Let me explain
So many project look good with so many different promises, trying to make a project look bad and not being able to find anything wrong with it, might just be a green flag.
Now while making research on project there are many things to take note of,many times people get rugged cause they have no idea on what to check out for, here are some things to note:
đž The tokenomics
The tokenomics of a project is one very important thing to take note of, it helps you know if the project is solid, if the project is undervalued, tokens basically give you in debt understanding about a project.
đžThe Team behind the project
Most project tend to do well because of the team, who are the team behind the project?
Do they have any past records?
Are they doing what they said they would do?
Knowing who the team behind the project are, is very important.
đžThe project socials and community
How is their socials?
Is it active?
Are they consistent with the content dropped?
Do they give informations about the project?
Do they care about their investors?
Do they engage their community members?
Take note of this and more.
đžThe project white-paper
The project white paper contains detailed information about the project, how they plan to achieve their goals and what they plan to do to achieve them, reading through the white paper helps you better understand the project.
đžWhat problem are they solving ?
Are they even solving any problem?
If yes why?
Do they have realistic goals?
Can they beat the current market competition?
Do they have support ?
Who are the supports?
Who are the people backing the projects?
Is it a deflationary or inflationary tokens or coin?
đž was there a presale?
How many tokens was sold?
Whoâs holding the most tokens?
Is the liquidity locked?
Is there enough liquidity to swap back?
All these and more are things to note while making your research, take this steps while looking for jobs, you might equally need to know these, to help you better understand the type of project you are working for or about to start working forâŠ
Even after doing these research it still dies down to what you think?
From your research do you feel itâs a good project?
Remember always invest what you can afford to loss
Even after making all these research, you should very much know the following đđŒ
â«ïž what is the trend ?
â«ïž what is my goal ?
â«ïž how much do I want to make from this project ?
â«ïž what strategy should I use?
â«ïžwhat is the perfect entry?
â«ïžRisk management and portfolio management
End Of Article.
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Purely educational, not financial advice.
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