Do Your Own Research!

[williamz902 696]

I keep seeing people asking which coins they should buy, or which coin is profitable, followed by a whole bunch of comments with recommendations.

Half the time the person who is asking has no idea why they are buying into a coin, other than the fact that it was recommended by someone else on the internet. This is terrible. Either you don't know how to do your own research or you are too lazy. So let me give you some advice. Before you buy into any coin, ask yourself these questions:

1. How much trading volume has this coin had over the last 6 months. (Trading Volume is the amount of money that has changed hands - it's a good indication of demand). If a coin has 0 trading volume or perhaps 20 BTC trading volume, then it's a terrible coin - no one is buying it. So why would you? Look for coins that have over 1,000 BTC daily trading volumes.

2. For the last 6 months or 1 year, what was the lowest price this coin was trading at?

3. For the last 6 months or 1 year, what was the highest price this coin was trading at?

4. How does the current price compare to the answers from step 2 and step 3? Would you say the price is quite high, or quite low or somewhere inbetween? If it's quite high, or somewhere inbetween the risk is higher. If it's quite low, then it has potential.

5. Who developed this coin? What was their vision for it? What features does it have that make it different to all the other coins? When was it launched and how long has it been around?

6. What are the developers doing that might make this coin's price rise in the future? How are they marketing it? Are they trying to get partnerships with other institutions? Is it accepted as a payment method in the real world?

7. In contrast, what have they done in the past, or what do they plan to do which might make the price drop? Are there any upcoming airdrops?

8. Is this coin mined, or are the developers in control of issuing them?

9. How many of these coins are in circulation and what is the maximum number of coins that will ever be issued? What is the market capitalization?

10. How many exchanges is this coin listed on? The more excahnges, the better. If it's only listed on one exchange, you are making a mistake buying into it.

11. Has there been any recent negative or positive news about this coin. Check news stories for as far back as you can go. Has any particular news influenced the price?

12. How does this coin rank on CoinMarketCap, and why is it ranking so high or so low.

Until you can answer all these questions and more, you are wildly unprepared to trade and this will more than likely result in loss. Do your own research - don't be lazy.

[IrinaLavrinova 365]

Choose coins from the top ten. Behind the top ten coins are large and small companies, powerful mining pools, teams and developer communities, and finally, thousands and even millions of users who recognize the value of these coins.

[Zzoro6110 19]

There is a saying says genius knows and knows if I think that has become a world has become ignorant
You must continue to research, learn and question

[bentayebsalah 2280]

I am not in this category and I buy according to my own analysis and rely on myself
I learn from the loss and as you see I'm still fine

[SyntaxEr. 709]

When choosing the project you are going to invest it is best to do your own research about the coin so that you won't blame anyone if you fail. 

[iloveyobit 6599]

very helpfull information in this topic , golden tips for new traders thank you very much mate , i think they need such a topics like that to understand this domain well 

[FlatterCar 696]

Your observations are of course good, but it is better to fork out a little and pay for access to a private group with signals for cryptocurrency, so you can further minimize your risks several times. But of course here every himself decides as him to do.

[palalu 512]

yes sometimes I hate to see repeated questions, but on the other hand I also like to recommend coins, but usually I will not tell my chart why they should buy the coins.

[avatarkiyoshi 270]

Good Points. Own research is important cause there is no instant success. Own research gives us more experience even though it will lose at the first time. As long as we can manage the loss that is not excessive.

[sdsonjoy50 886]

There is a single trader system for research in crypto, this is your own research system, but it will not be your first, it is a long time in the market, and this experience is very important to have a trader account, your own research will benefit you.  Will do more

[Crypto123 0]

Very good tips to follow when buying a coin, in fact I follow some of these steps and not all of them because I say as a bit lazy for all this research.
There is something outside the topic but I want to ask about it, for example, I liked this article how to keep it in the forum.

[kazumina91 148]

You must have been a long-time investor, what you say you analyze is meaningful, thank you for sharing useful things, it is to summarize experience long ago.
thanks

[Yanadia 1517]

Good posting, thats why they asking for do some research that what i think . Sometime we also knew what good to buy from other auggeat than we also knew qhat people almost put their money on coin .it name market research

[nasipadang 399]

On 11/6/2019 at 9:11 PM, williamz902 said:

I keep seeing people asking which coins they should buy, or which coin is profitable, followed by a whole bunch of comments with recommendations.

Half the time the person who is asking has no idea why they are buying into a coin, other than the fact that it was recommended by someone else on the internet. This is terrible. Either you don't know how to do your own research or you are too lazy. So let me give you some advice. Before you buy into any coin, ask yourself these question

Actually it's not wrong to ask if they don't know, because this is indeed a cryptocurrency discussion forum. I also agree to do own research to choose a coin, because there might be FUD among the suggestions given by users.

[vivek jain 308]

we should do our own research before investigating in  cryptocurrency. This is especially important for newcomers, who are more prone to making mistakes - or being misled. Luckily, when it comes to cryptocurrency, there are plenty of resources to help you.

[nicolas1234789 2566]

If i use your analyze I will never replace my open position because too many and need time to do all. I'm not educated man and also new comer in crypto so I need simple analyze, such as use one indicator ( MACD ) to read market direction, Use MA for all coin and take one as the target, last step is calculate with my fund to decide my SL and TP, just like that.

[iloveyobit 6599]

On 12/3/2019 at 6:23 AM, Hamk said:

It wil not be good to always be following what people will have to say,make your own research you will learn along your way of researching

You can always follow what people say, but when the time comes to decide, buy or sell, invest must do your own research and analysis because no one will bear the responsibility for your loss of that money.

[iloveyobit 6599]

3 minutes ago, Hamk said:

No one will do that to you, it will be all by yourself you will have to take the loss all on yourself

Yes, of course, in the field of trading or any other field of profit the strong eats the weak, you can take advice from other people and build your base of experience, but when making the decision you must rely on everything that you learned.

[Brushless4500KV 4214]

I agree with you. It is not bad to seek advice from others but you don't have to follow anything you hear. You should use all the inventory in your disposal. You should mix all the information you obtain to be able to make a final decision. There are lots of websites, E-books, videos and other sources of information. If the person who is giving you advice doesn't have enough experience, he/she may give you false data which will slow your progress. It is not possible to give a comprehensive piece of advice to anyone in a few lines of words in a comment. There are lots of things that need to be considered and examined before buying a coin. So, rely on your own skill and only use people's advice as an auxiliary way to complement your existing information.

 

[Dolpharius 675]

5 minutes ago, gordoncrypto said:

These are all valuable points you are making. Specifically, I look for positive and negatives people are posting about a coin, and specifically I will select past hour, week, month when searching if something major changes in charts.

there are coins that I will buy without paying attention to the chart, and if you pay attention to young coins, then you can choose the time interval for entering the market.

[Opinder 1310]

I am totally agree with this, most of the people fail in trading when they buy or sell coins after hearing advices from others. Yesterday I have red a message from a person in the chat on yobit. He said that now yoda coin is started to rise so we should buy it now. And I bought some coins at price of 0.000043 btc but after that coin is continuously falling and now its price is 0.000017. I am blaming myself to follow his words.

[Luciferludz 1442]

For doing the own research it will be more advantage for you because you'll got many experience about how to do the market analysis and making your own trades 

[febriyana 934]

Yes sure i will research my own coin. Before i coming with this strategy i always following other people opinion. Mostly coming from Telegram group where give me signal everyday for what coin i need to buy. But after time to time i realize that is not really effective, because we can missed some opportunity and also taking so much time to waiting the signal.

[Sapdrx 469]

Good advice but I'm not a specialist so for a great part I need to depend on professional crypto analysts like Kevin Svenson and Alessio Rastani.

[Jhadhasan 872]

When someone gives you advice in investing a currency, do not verify yourself with this currency. Do not rely on the recommendations of others, because the one who will lose money is you and not them. Be careful with your money. Do not make it dependent on what others say.