29.01.2023

Cryptanalysts - how to choose those to listen to

To date, there are a huge number of analysts of all stripes on the crypto market, whose forecasts very often turn out to be not just far from each other, but truly contradictory. Therefore, it is also so easy for beginners and more experienced traders to get confused in this information flow. And now we will try to highlight the main points that need to be taken into account in order to choose an analyst whose forecasts can really benefit you.

1. Choose analysts who specialize in the coins you are trading. It is worth remembering that one person cannot be an expert in absolutely everything, no matter how high-class a professional he may be. Therefore, take into account the opinion of only those whose forecasts for the instruments you have chosen turn out to be correct or close to reality for a long time;


2. Look for information about the analyst, try to find out reviews about him, make sure how long he gives forecasts. Of course, there are nuggets who begin to understand the realities of the market incredibly quickly, but in the vast majority of cases this requires considerable experience;


3. Do not try to take into account all opinions at once and follow a lot of channels and articles - this way you will only confuse yourself with contradictory arguments and increase the chance of making a mistake;


4. Don't trust analysts who "know exactly where the market will go." Any professional is aware that absolutely all bidders work with a probability that is never equal to 100%;


5. Do not try to trade using someone else's opinion exclusively and in no way delving into the market yourself. Analysis of analysts is just an additional tool for trading, but not its foundation.


6. Do not shift responsibility for your results to analysts, remember that this is your money and only your decisions;


7. Look for proven resources and channels, do not transfer money to trust management and do not buy paid subscriptions if you are not sure of the reliability and integrity of the analyst. Exercise discretion and caution.


And the most important advice is to develop your own trading style and methodology that will allow you to navigate in any situation in time and get the desired result. And we at GRIN4 do everything to ensure that following your own trading principles is as simple, convenient and effective as possible.

 

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