Philosophical Kernel
A great piece of advice I once received: What if your life was a video game? Ironically this question led me to abandon video games, after I asked myself a further question, why are video games exciting? Inside the game, we become a hero who has a sense of purpose, a great mission to fulfil, unbound by the fetters of reality. There exists a great sense of destiny and duty. Why is this not present in our everyday lives? Our lives consist of routine: waking, working, and sleeping. With a few extras thrown in, perhaps a morning coffee, or a birthday once a year, this routine then repeats until we die. If you can grind in a video game, you can grind in real life. What If Life Itself Became A Video Game?
Every person alive has overcome odds that cannot be comprehended to breath the air of this rock hurtling through a galaxy of stardust at thousands of miles an hour. Consider your own life for a second and you will realise it is stranger and more vibrant than any video game you have ever played, all the minute events that have gone into fashioning your existence. Blow on the kindles within your heart, within everyone one of us exists the will to power, the notion of conquer calls everyman, even those who have done everything they can to silence its booming voice. Go forth, grow stronger and attack life with all the gusto you have. Levelling Up Your Crypto Game Find A Mentor A brilliant way to become more familiar with a topic is to listen to someone who is an expert talk on it. YouTube is replete with false financial gurus and selecting a person to listen can be a difficult task; one must wade through the swamp of treacherous con artists. I would whole heartedly recommend Benjamin Cowen’s YouTube channel. He offers TA (Technical Analysis) insights useful to even seasoned traders, in a format understandable to every level of investor. From logarithmic regression, support bands and volume Mr Cowen covers lots of interesting angles to analyse Bitcoin’s price. Watching this channel will make you more familiar with TA and understand in greater depth the important price levels. Another worthy mention goes to Coin Bureau who has a solid track record of picking projects that appreciate well over time.
Engage With The Community
Telegram and Discord are a must. Crypto is still in its infancy and much of what happens on the blockchain is time sensitive, this becomes more pertinent the more involved you become with DeFi (Decentralised Finance) protocols. The modern era has given to man the ability to access a nearly infinite pool of knowledge instantly, and the knowledge that man accumulates acts as his torch in the blind fumbling in the darkness that is the human condition. The greatest advantage you can give yourself is information, and there is no better place to find it than Telegram. Join the telegram groups for any project you are invested/ interested in, and you will receive live updates on the project. It will give you greater understanding into the coin’s price movement which can often seem random when displayed on CoinGecko.
TradingView
Technical Analysis. Some like it, others hate it, two notable naysayers are Warren Buffet and Peter Lynch. These two men are cut from the cloth of fundamental analysis. I consider having a basic understanding of both useful. Fundamental analysis in crypto differs slightly from stocks where one looks at the balance sheet and p/e ratio. In crypto it involves reading the white paper, understanding the use case, and the team behind the project. With this data you decide whether the asset is overvalued or undervalued. Roughly, fundamental analysis wins long term, and Technical Analysis wins short term.
TradingView offers advanced financial visualisation of stocks and cryptos. On the website you can follow the price movement and use various indicators to get better understanding of where the price is headed. I would recommend starting with the basics such as Volume and a Moving Average (50 day, 100 day, 200 day). Volume shows us how frequently an asset was traded. Moving Average smooths out the price action making it easier to spot key levels of support and resistance. But of course, you can dabble with more indicators as you get more comfortable. Using TradingView will improve you TA skills and give you a better understanding of price movement. It is worth noting that price action is driven by fundamentals, market psychology, and geopolitical events.
These three small things have been invaluable to me on my crypto journey; and I hope they serve you well.
Join Coinmonks Telegram Channel and Youtube Channel learn about crypto trading and investing
