Pardon me, I'm just a newbie when it comes to all this trading stuff. I just got curious on the field of trading and have checked out in CMC recently launched coins, top gainers and losers. My question is, do you usually buy new coins then set your target sell? Or do you just buy from top losers then keep an eye on it?
Thanks for all the responses...
Coins and tokens that have made it onto the CMC list have at least made it through the stage most projects fail to get to, so at least they have that going for them.
I will say this, investors of crypto watch their investments very closely and I've seen them abandon projects that were seemingly on their way in a matter of hours because of some unforeseen turn of events.
But considering projects need funds to continue and this bear market is having the desired effect from the perspective of the money changers, you can expect the carnage to continue until further notice.
With that in mind, investing in new coins today, even with the requisite research done, is one of the riskiest ways to use your money in the crypto space today. I've followed and supported dozens of well-meaning projects with good support admins and devs, and with ideas behind them that should be universally accepted, only to see them dwindle away, stop, or just be a plain old scam.
One of the bigger problems for people who want to be into crypto is where to start. I suggest do your research to narrow the list down, then work a bounty or two to get a further feel for the project and the people behind it. After that, trust what your heart is telling you. Don't discount it. There are too many factors to consider to simple go by stats and figures.
Folks can be succssful that way, but they can also be successful by casting a wide net and accumulating as many crypto assets they can (bounties, drops, MNs, & spent dollars) and holding for the traditional window of 5-10 years for investments.
Something has to give. Crypto is not going away anytime soon, so you may as well cut your teeth on the steep learning curve sooner than later and start building your stacks today.