How to Become a Successful Investor: Cryptoworld

CryptoStreet
Aug 23, 2017 · 3 min read

With all the ongoing and upcoming ICOs one must get his game in check if he wants to invest in a business that will provide a stable cash-flow. Although these days you won’t find “crypto” and “stable” in the same sentence here are 5 tips that can help you become a successful investor.

1. Be confident

To become a confident investor you simply have to trust your abilities. If you don’t have them yet, cultivate them. The confidence in yourself is always reflected in all the areas in your life, so knowing that you are enough as a person is a good start. Nowadays we are bombarded with information from a continuous stream of news. Do your research beforehand. It is almost impossible to ignore that little voice in your head that says “sell” after you’ve read that little underground article about the future collapses in the crypto-market. Have confidence in your decisions and pay attention to your intuition with an objective view.

Warren Buffet said: “You must divorce yourself from the fears and greed of the people around you, although it is almost impossible.”

2.Make a long-term commitment

“Just sit back, and let the businesses do what they can for you.” Warren Buffet

When it comes to holding long-term commitments a fair amount of the population fails. That’s the difference between a successful and an average investor. A committed investor is always patient with his assets waiting for that big opportunity. Buy that coin and wait for it to develop. Go watch a movie or in this case a short movie. Long term commitments are habits that are developed through repetition, like brushing your teeth every day. By mastering this skill you will not only invest smarter but you will develop into a different person. A successful one, who’s ready for anything, anytime.

3.Understand the business

You always have to be up-to-date with the latest news in the cryptoworld. And a little research hasn’t killed anyone. If you want to become an important player or just for the sake of making money you have to understand the basic mechanics behind the industry. If on the Wall Street the price of an asset is influenced by global events in the cryptoworld things are a little bit different. The price of the digital currencies are influenced mostly by their users, updates and new platform launches. A lot of successful investors are aiming to invest in simple concepts that are relatable and reachable. So in that sense do your homework.

4.Buy the value behind the product

There are many debates behind this subject. What is valuable and what is not. Concentrate on the value that the product gives to you and what it could provide in the future. Its value doesn’t come in money it comes as a contribution for the entire world.

5.Buy red sell green

We’ve all heard this one before. The main reason behind it is that it’s true as a flying bird. Successful investors always keep their eyes on the chart. They buy when the index is down and sell when it’s up. This is investing strategy 101. They also buy low value assets and wait for the right moment to sell. So don’t be afraid to spice things up a bit by acquiring more than one type of asset. Warren Buffet said that diversification is beneficial for everyone, even for a successful investor.

Despite the fact that the digital market is unstable and the ups and down are most of the time unpredictable, the habits of a successful investor are also his commandments. Which will guide him towards his purpose and also help him discover the “sweet-spots” that are dragging him down.

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CryptoStreet

CryptoStreet is all about providing the most up-to-date information as well as expertise on online economy that will help create the future world economy.

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