I've repeatedly warned about the dangers of following exaggerated or baseless posts—especially those lacking any solid analysis or detailed reasoning behind the currency being discussed.
Today, for example, I came across a post claiming a massive drop in #BTC—with an image so extreme, even Bitcoin itself might laugh if it saw it. Yet there was no convincing chart, no technical indicators like RSI, Bollinger Bands, or MACD—just pure speculation. I urge everyone: ignore these kinds of posts.
Instead, let's talk about the core fundamentals to rely on when selecting a currency to trade:
1. Understand the project's fundamentals and its history.
2. If you're holding for the long term, make sure the currency is backed by a solid project and supported by respected analysts—not social media influencers or dreamers.
3. A professional trader buys early in a confirmed uptrend and sets a realistic target for selling.
4. Observe the currency’s behavior for a day or more at key levels. Even if you miss the entry, it’s a valuable lesson for the future.
5. Don’t be greedy. Take profits when you can—hit and run, even if it’s a small gain.
6. For new currencies, watch them closely for at least half a day before entering. This is my personal approach. Discussing new coins requires its own caution and deeper analysis.
7. Learn to read indicators like Bollinger Bands, RSI, and MACD.
8. Personally, I only trade spot. I avoid leveraged trades, margin, and anything involving interest.
Good luck to everyone...
And finally: always do your own research. Don’t rush. Don’t believe everything you hear. Be realistic.
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