Things Not To Do/Be/Say if you Want to be a Successful Crypto Investor
This has been put together light-heartedly (yet I mean every word) and yes I’ve done every one of these things (often many times).
- Check your portfolio daily. That’s what a day trader does? Are you a trader who thinks they are an investor?
- Buy on a daily pump.
- Sell on a daily dump.
- Sell one crypto after a dump and buy another crypto with those funds after it has pumped.
- Join a crypto cult and declare there will be only one.
- Join an ecumenical crypto cult and declare there will be only 5 or 6.
- Look down on folks who don’t yet ‘get’ crypto – teach and expand the space - collectively in our own interest to do so.
- Accept any project timeline/deadline as likely to be kept (it won’t).
- Take any advice on crypto from mainstream media all of whom still have to get past Bitcoin is dead.
- Take any advice on crypto from folks who over-use !!! Only excitable nonsense will be found within their work.
- Take any advice from people who use misleading headlines – they value your click more than their information.
- Take any advice from folks who faded away in the bear and have recently re-emerged for the bull. They simply want to use you and move on.
- Take any advice from people who ‘gush’ about one project after another. Either they are being paid in some way or they aren’t critical about the space.
- Accept the narrative that crypto is different and won’t have bull-bear cycles. Hard to contemplate now but give it a year.
- Buy/Sell on the advice of one article or analyst. At the very least, look into a number of perspectives before you act.
- Spend months-years reading headlines and debating the ‘best’ crypto but not understand any of the underlying tech.
- Talk to a prospective date about crypto (Ok Ok nothing to do with investing – except maybe yourself).
- Feel bad about doing any or all of the above as long as you are aware this is sub optimal investment behavior and that it is up to you to reflect on your mistakes/failings/bias and attempt to move away from them (don’t worry you’ll be back checking Blockfolio before you know it).
What have I missed?
Useful tips, I’ll reblog it)
Thanks @anforo - glad you liked the post.
Very useful information, thanks for it. Have a nice Day ;-) @gordonbuckley
Thanks @cryptompminer - appreciate the positive feedback.
This is completely wrong and entirely inapplicable to my lived experience. I check CMC.
CMC is the go-to place for all things crypto, especially volume. :)
So buying the rise and selling the dip is wrong? ;-) I’ve certainly done my fair share of these.
The bigger the rise the better the buy - can't lose - moonplay. ;)