DISCLAIMER -
I am not a financial advisor or a professional trader.
Please educate yourself and invest!!
There are millions of dollars to be made on this market guys.
This market is still a newbie and has yet to go through the experience and time,
but it is going nowhere any time soon. As, the market capital has been going up like crazy,
We are seeing the influx of enthusiastic investors come to play the market.
You have to be careful and make your own educated decisions.
I have come up with five Golden Rule for my investment.
Buy Low and Sell High.
This should be a no brainer and i know everyone knows this,
but what i am trying to say is that you have to study the charts to figure out if it is stable.
You want to buy the crypto when it is stable and when it looks like it has a support level.
No-one can tell you when exactly you should sell the coins because no-one is going to have the right answer
but take a educated guess. Do your own judgement and take a educated guess.Educate Yourself.
You do not want to just jump into some coin just because it looks like a awesome buy today.
You want to go check out their website, read about how they are different from other cryptos,
see how active the community is and read their blogs for what they have been doing.
When you do this, you want to come up with couple of coins that you want to invest in.Diversify.
This is one of the best suggestions i got from the crypto community.
You want to diversify your portfolio. No-one can predict what future holds to any crypto currency.
We all take our best guess and invest on them, hoping they will make us some profit.
Mathematically speaking, If you were to invest evenly on 10 different coins, even if 4 of your coins
turn out to be a complete disaster (This is the worst case scenario, which is highly unlikely also because you have
followed 1 and 2 of my guide) You would still end up making profit. This is more secure way for you to invest.
This way also makes sure that you will at least earn the average from your portfolio rather than earning less
had you invested in some coin which did not give you as much return.Buy and Hold.
This is another major strategy in investing . You want to buy and hold the coins for years before cashing out.
The cryptocurrency market capital has doubled in just last month. This has created a domino effect, which is pulling
more and more investors day after day. Countries around the globe have seen the benefit of this technology and have been
buying coins like never before. Countries like Japan, India, China, Korea and so on have recognized the currency and are working
on merging it. This market is only going to grow bigger. You buy and hold and take profits when you are comfortable.Know when to Sell.
Realistically speaking, no-one knows when exactly to sell, market is going to do what it wants to do.
There are signs although that you can see. For instance indefinite growth is unrealistic. It can only go up so much, then it has to
come back down to find support where it once stayed comfortably (charts). If the company is headed for some collison
that could be another sign to take your profits. Never be impulsive or be emotionally attached, take educated guess on that as well. Do your best to know what is going on with the coin/company and act accordingly.
I hope my Five Golden Rule for the investment helps you in your investment.
I cannot stress this enough, Do not completely believe anyone even me of course,
You have to do your own homework. Listen and read about it some more.
Take your own best judgement and your own risk.!!
Happy Investing!!