Crypto Commandment #5: Do Your Own Research | Ten Commandments of Crypto Trading with Caleb Wright

Hello my friend, Caleb Wright here from Bitcoin
Lifestyles Club, and in this video I’m going to teach you about the fifth commandment of
crypto trading… Thou Shalt Do You Own Research!…. Because there is a lot of chatter and new
information being generated daily about the crypto markets on social media… But one thing is for sure, not all sources
of information are equal in their quality and reliability. So when you find out about a new coin, whether
the source was a post on social media like Facebook or Twitter or someone you know of
that actually has a track record of success with crypto… you should always take the
time to do your own research. It’s a bad move to make trades based on suggestions
on social media from people you don’t know, because they more often than not have an agenda
that is not going to be in your favor… For example they could have bought a coin
when it was relatively high in price, and now they are trying to get people to pump
it back into profit by ‘shilling’ it on social media to less savvy would-be crypto investors
or traders. So you will have many people of dubious intentions
that are suggesting for you to buy into coins at times where it would be to their advantage
and your disadvantage. And then there will be times where you may
absorb some market information from a credible source, whether a person or group that has
a track record of success with the markets. In these cases, the information may very well
be good, but you still need to protect yourself by doing your own research. Market research is an invaluable component
to your crypto success. A couple of places that you can start doing
your own research on coins include and Google. On CoinmarketCap you can get all sorts of
information about pretty much any coin that is available on the exchanges, from markets
data, links to the various exchanges it’s available for trading on, and links to any
official and relevant websites where you can really dig in, and learn the details of the
project by reading the white paper and learning about the developers via their available bios. And secondarily, you can find additional websites
and articles by searching the coin project’s name in Google. Another thing you could do to give yourself
an advantage when it comes to market research, is to get involved with a group of experienced
traders who are sharing their market research and analysis on a daily basis. Teamwork makes the dreams work, and to that
effect an experienced crypto markets mastermind group can be invaluable to your overall trading
success, because there is too much happening in the crypto markets daily for one person
to be able to keep track of it all. A team effort goes a long way! Now while this may seem self explanatory and
simple, abiding by the commandment of ‘Doing Your own Research’ will make a huge difference
in your overall performance by keeping you from jumping into potentially money losing
trade’s with the wrong coin at the wrong time. Sometimes all you need is a bit more info
to help you make the best trading decision. And remember to not enter a trade, is to live
to trade another day, and be able to take advantage of a more valuable trading opportunity
when it arises, rather than have your money tied up in a trade that you maybe should not
have entered. Caleb Wright here from Bitcoin Lifestyles
Club, and I hope you got massive value out of today’s training. Watch out for the rest of the 10 Commandments
of Crypto Trading, that I have put together just for YOU. Because I want to help you avoid the costly
mistakes made by so many new unsuspecting crypto newbies. In the next training video; Commandment #6,
I’m going to give you the number one secret to really get after it and maximise your potential
with the crypto markets, so don’t let yourself miss it! And by the way, if you are serious about developing
your skills as a trader and carving your path to crypto wealth with confidence, you should
check out the powerful crypto trading education and supportive community of WINNING crypto
traders available on the Bitcoin Lifestyles Club platform, we have created to help you
maximise your potential with crypto! Just click the link below this video for more
information, and start accelerating on your path to crypto wealth and start living a financially
free lifestyle starting today…

Leave a Reply

Your email address will not be published. Required fields are marked *