Okay, back to continuing with the#NewbieSeries, there are a few things that I think need to be spread to you guys, especially newbies. Please read for reference. Okay, let's go!!!!
🔍Things that newbies need to know when starting to participate in the Crypto market:
1. Learn to research projects yourself, don't wait for groups to call and buy. When groups call bets, they only consider it information about projects and double check carefully to see if they can invest in that project or not.
=> Newcomers should start from reading and understanding basic knowledge, gradually seeing which niche is suitable for them, then it's okay to switch to it. You don't have to be good from the start.
2. Learn capital management, before putting money into an order, think about what it will be like if you lose money, how it will affect your psychology. What happens if that child doesn't return to entry? Is there still money left to buy a new one? If you think like that, it will help you allocate capital more appropriately.
=> Investing with idle capital can be lost, absolutely do not borrow to invest in Crypto, it is too risky and it is not worth the trade-off.
3. In a downtrend, you should only invest with a long-term view (3-6 months), newbies will not have enough experience to trade with a weekly or monthly view, so hold most of the $ and wait until everyone is scared (BTC Fear). and Greed Index below 10 points) then buy gradually, prioritizing BTC, ETH, BNB
=> If you don't have experience or knowledge, you should only put money into projects that are sure to last, like BTC, ETH and BNB. Recently, I thought there was a Fud but it will pass. I submitted another LINK in the safe category.
4. During the downtrend, winter is always a good time for us to collect goods. Therefore, whales will push BTC down, creating a panic sell mentality to collect good prices, we will collect goods according to whales.
=> Buy green and buy red, just do it like that, don't do the opposite. Seeing a green candlestick flying into the sky and swinging at the top for several years without being able to return to shore is something I'm stuck with, very bitter.
5. Up to 90% of old projects will die within 2-3 years of downtrend, reasons: project does not generate revenue, not enough money to maintain, devs leave old projects to create new projects... So please Choose projects that are practical, not outdated, and have revenue for long-term investment.
=> 90% of Crypto projects will be 1-season projects, meaning they only pump once and then slow rug. Newbies should not just look at last season's peak and buy it thinking it will reach ATH and make a profit. Need to choose carefully, not every project will have an ATH comeback
6. Don't try Margin, Futures even once. Instead of spending time monitoring Long Short orders, that time is spent on research and following new projects that will help you level up.
=> The English teacher said "Future" is the future, but actually in Crypto, Future means "End", this is true for newbies with little experience.
7. Don't trust someone too much in this market, today they can help you earn $10k, but tomorrow they can take away your money in double. Money is yours, whether you lose it or keep it is up to you to decide. Don't blame others.
=> Don't trust anyone 100%, including yourself, consider, consider and plan for yourself.
8. Hidden gem x100 projects usually only appear during the year of BTC halving (Sol, Axs.. 2020) so during the downtrend, invest in projects that you believe will still exist for at least another 2 years before thinking about finding and holding#HiddenGemsin 2024
=> It is still a problem of having enough knowledge to research and evaluate the project. When you are qualified, it will be easier for you to consider and evaluate.
9. Always know when to stop and cut losses, don't be bitter, calmly reflect on why you lost money, learn from experience so you don't continue to make mistakes with other projects. => You can't know when you will take profit when, more or less, but cutting losses to restructure is something you can control and control with a simple command called stoplimit
10. If you do not have time to learn and learn about crypto knowledge (full time with crypto), then only investing in BTC, BNB, ETH is enough. You should not listen to anyone's advice and invest in projects that you do not clearly understand.
=> Currently I submit BTC and ETH, but BNB needs to be observed more because there is a lot of fud with Binance. Of course, I think it's so difficult that it's unbelievable that Binance will collapse (0.01%).
11. During the downtrend, you should focus on new items and items that follow event trends. These items often have ups and downs. Keep an eye on the news and vesting schedule of the project.
=> I mean, downtrends have little money. If you want to make money, you should catch trends and narratives where there is money flow. For example, in the previous wave, there were waves of LSDfi, Fantoken, AI... etc., you will have a chance to make money. more than projects with no cash flow (Defi, NFT..etc.)
🔍Above are some things that newbies should consider before starting to invest money in Crypto. Money is not easy to earn, so you should cherish it and think carefully before spending what to buy and what to sell. I don't know how long the Downtrend will last, but I will be here to continue sharing and accompanying you to the uptrend. Wishing you confidence and success.
I will return in the next issues of this Series to accompany you guys!