/biz/ - Business & Finance

SERIOUS ADVICE SO LISTEN UP

First off, learn some TA. While it's not crazy effective, knowing your basic "head and shoulder" and "cup and handle" can make a nice difference in how you trade. Investopedia is your friend.

Use supercomputers and forums like this to see how things are predicted to go. Trust the computer over people usually. The services I use are:

Wallet investor
Trading view

In wallet investor, use the forecast option to see how things are predicted to go in the near future for a given coin.

Third, don't ever dump more than 50% in one coin, but keep a big chunk on blue chip coins for safety. Pick 2 or three you want to bet a lot on, that have a following and good product. A diversified portfolio is important. There's no right way to do things, but there are general guidelines. Mine looks like this:

40% blue chip (I like eth)
20% tron
15%link
and I'm aggressively ready to lose the other 25% gambling on small market cap coins not on binance. I'm working with about 120k, so I put 1k (about 1% of your stack) on anything that even looks remotely interesting, and check back in 6 months. The idea is that if 1 does a 20x all the others could fall 90%, I'd still make money. You have to cast a wide net to win, but have a backup in your bluechips. Never run out of bluechips so you can buy altcoins when the market bleeds. Make a cool 10% overnight that way with only a few trades.

Don't buy when things are mooning. I don't care what tards tell you here, don't. Usually, only buy stuff when its red. Do not FOMO. Accept that you missed it and look at other investments.

Last thing, have strong hands. If you buy something and it tanks, DO NOT SELL unless really bad press just hit and it's never going back up (like bitconnect). You wait until your investment is worth more than you paid for it before you let it go. Never sell for less than you bought. Just wait, that's why I have 50 different shit coins. That way I'm not stuck when shit flies.

Questions?