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##Looking for the next Bitcoin
#Top mistakes New cryptocurrency investors make
- Sets you unrealistic expectations
- FOMO - Fear Of Missing Out
- Greed - Dont but every ICO and cheap coin in hope of getting 100x returns within a week. There are coins which gain ridiculous profits but those are most likely pump and dump coins.
- Panic sell - Do your research before investing and dont fall into the FUD traps (S Korea banning crypto was the biggest FUD case Ive seen)
- All eggs in one basket - DIVERSITY, have atleast 2-3 promising projects with working tech behind it
- Dont buy ATH
##Short term mindset
- Selling profits fast - If you believe in it, keep it. Otherwise you wont move towards your unrealistic goals anyway.
- Yearly target - Have something sit there for a year and see the profit.
- Impatient - Have patience and hold.
- Daily blockfolio - Dont look at your assets every hour, that only makes you emotional and you may do rash decisions.
- Hype not facts - Dont follow the sheep who will tell you that their 1 month coin is the next ethereum or bitcoin ‘killer’.
- Overinvesting - Dont go into debts, change your lifestyle if you want to invest more (less alcohol, nicotine etc). I quit the previous two for my future.
##Solving those mistakes
- Daily job - Dont think youre an experienced trader right away and have a daily job which brings you money consistently.
- Risk management - calculate the risks and rewards, dont risk what youre not willing to lose
- Exercise - Go out, walk, run, go skiing or skating, jump, climb swim etc. This will keep your mind at ease.
- Mindset - rational thinking.
- Education - Research
- Self control/meditation
- Hold
- Sleep
Try to learn and fix your mistakes,
2018 shall be yours.
Cheers,
@freeforall
I also think not many people know the technology enough to make good research of it.
with all the new people who are being added into crypto currency it sure is making some of the movements hard to base on with all the FUD and FOMO