Spotting hidden gems is so complicated!

Bitcoin Talk and Cryptocurrencies
1

Hello Guys

I am a begginer in this field (2 months), I started by learning the fundemantals of crypto and understaing the technechal tearms (market cap, ico, ido,… etc) of this domain. The strategy that I decided to work with is “Spotting hidden gems” which means short tearm trading, and fixed my profit rate at x3. The crieterias that I check for picking a coin are the following:

1- Market cap.
2- Project Idea
3- Team behind it
4- Amount of holders

But until now it’s all loss, I didn’t reach my goal and the closest rate of profit I achieved is x1.

I wanna know what I’m I doing wrong ! is there anything else I need to check ? and also, I saw alot of coins that do x100, x200 and they were only meme coins! they have only telegram channels and no purpose at all and people make a fortune on those ! I see them only chatting and the price of the coin go boom ! how does that wok ? should go into those kind of coins as well ?

Ps: sorry if i throwed alot of random infos on you, I’m a bit fraustrated and hope that you can help me gus

2

Hi and welcome,

One very important question. Did you trade cryptos on leverage or did you buy them outright, then trade them? During 2021, the market cap of all cryptos expanded from $400 bn to $3,000 bn. Anyone who did not make 7X did not beat the market. I didn’t make 7X that is for sure, but I didn’t lose money either.

Another question. Strategy. What did you expect to do in the crypto market, and why? This is the first question any trader or investor needs to ask himself. Your “What” was the decision to trade in crypto currencies. Did you ask the Why? question?