Hello guys and welcome to our Trading Guide Episode 3.
Our topic for today is the best advice of Warren Buffet.
On Forex if you want to trade, you use a broker who will execute the trade on the market. The broker you choose is an important investment decision while in cryptocurrency. There's no broker, You will trade on your own. and Yes, don't put your money to a third party.
Always remember on trades, As long as there's money involved "Don't trust everyone". Because both of you have goals is to gain or to make money.
Anyone interested in the stock market, investing, or money involved and this is true.
Example Warren Buffet as a great investor, Yes as early age at 11. He bought his first stock and he used the information to any investors. Now his eighties and he's still doing trades.
Buffet has Marijuana and Cryptocurrency stocks but he didn't say if what coins are that.
W.Buffet said that to become a better investor you have these seven principles.
1. Always learn the basic value of investing (Do your own research DYOR)
2. Invest in what you know (Projects, Team, Purposes/tokenize)
3. Always Identify what are those cheap tokens and has potential.
4. Have to look at businesses that will stand the test of time.
5. Invest in a good project. (Always buy the rumor and sell the news)
6. Be aggressive during tough times. (in short buy at the dip)
7. Analyze the project and analyze yourself if you're short, medium and long term holder.
3 Components strategy needs what they are?
Liquidity – Know how to enter and do exit in trades this is what they called liquid commodity strategies, for example, you will focus on top 5 or 10 cryptocurrencies. But don't be a fool and stick to one token or project if you want to gain more.
Volatility – The cryptocurrency market is one of high volatility. This tells you on how to manage your potential profit range. The high the volatility, the higher profit loss or profit gain and please don't trade on the pump and dump token.
Volume – You can determine or measure if how many times the stock/asset has been traded with a set period of time. Sometimes they called this as "average daily trading volume"
High volume tells you there’s a significant interest in the asset or security. An increase in volume is frequently an indicator a price jump either up or down, is fast approaching.
Buffett had previously called bitcoin “rat poison squared,” mean delusion' and 'attracts charlatans'
That's all! Stay Tuned to our next paragraph episode 4.
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