Caution: Don't get carried away by social media vibes while trading

[CryptopreneurBrainboss]

You need to gain knowledge from good information most of the information is now available on social media.

That doesn't mean all information there should be considered valid, social media gives room for any information to be circulated in the matter of minutes, there's no time for it to be filtered and authenticated although not trying to say we have to live in a world where everything is approved before we can get the news but at least some sort of authenticity should be done.

If you based your trading from social media, you might end up losing all your capital as before a coin get shilled on the platforms it has already been bought by the shillers, now out of fomo if you buy in late you'll be the one buying the bags from the shillers which you'll likely get dumped on.

[whyrqa]

It's okay to get influenced if you know that you're still early and there's bunch of people out there still watiing to get in or to buy that specific crypto, otherwise just don't do it also if you're not sure.
I think it's common sense to not let anyone dictates our decision because it's us who knows ourselves and our asset best.

Most of all, it is beginners who can be at risk, those who do not have very good knowledge, and also do not know how to prioritize, paying attention to various information tricks of various scammers. I believe that most traders are more cautious about social media and the safety of their assets.

[Jszabo78]

@OP while you said it, I'd also like to remind you of Elon Musk's non-sense yet highly followed tweets which took BTC "to da moon" and then dropped it back "to the ground" just because at the beginning, he announced of his BTC holdings through SEC, and later on when he "probably" would have sold all his BTC already, started playing tricks with average investors and trying to scare them of the markets by saying that BTC seems to be a bit overvalued. Tell me what the hell is that? Still, these foolish investors follow him just because he got success in least time through Tesla and SpaceX.

Well, perhaps Elon Musk is pure business-minded. He wants to manipulate bitcoin just because of his own interest and possible benefits and he abused his being an influencer just because of his own interest. If we know that there is something wrong with manipulation, I would rather start ignoring him than following his nonsense tweet on social media. If you are a real crypto enthusiast you will not listen to any social media vibes, all they want is to have a pump and dump of the price of crypto and when bitcoin is on hype, they will immediately cut their profit. But at least, it is hard for them to manipulate the entire market, only a small impact has.

I think as BTC market cap increases it will become harder to manipulate it. I would assume that we will arrive one day to a more stable and less volatile BTC. We may need to wait years for that to happen. The very best to you all, J

[conected]

It's okay to get influenced if you know that you're still early and there's bunch of people out there still watiing to get in or to buy that specific crypto, otherwise just don't do it also if you're not sure.
I think it's common sense to not let anyone dictates our decision because it's us who knows ourselves and our asset best.

Most of all, it is beginners who can be at risk, those who do not have very good knowledge, and also do not know how to prioritize, paying attention to various information tricks of various scammers. I believe that most traders are more cautious about social media and the safety of their assets.

- New people are easy to fall into a psychological trap but the old is still no exception, knowledge and experience allow us to analyze more thoroughly a problem but also because of this calculation, our arrogance once again wants to challenge the market and prove ourselves, emotions will be heightened and make the same mistakes as newbies when looking at information on social networks. Almost when social media gives out information about a certain token, I often stay away from these antics, no matter if it is right or wrong, not sure too many opportunities, participating is just wasted time and loss

[Sterbens]

Because in their minds is that they can be more profitable if they bought coins that are at cheap prices. They are thinking that this coin will be in hypes someday and doubled their investment. But I'm not sure if this still works because, at this time, there are no such hypes happening in the crypto market.

It is true, that such a paradigm only applies when we are still in 2015, whereas now is no longer the time to have speculation or primitive belief that buying cheap coins will provide big profits in the future.
because the current growth of coins is like random and has no permanent pattern. in other words, many new coins have cheap prices, but in the end it didn't take long, died in the middle of the road and finished leaving investors with huge losses because they had already ripped off quite a large dollar.
so to save the paradigm there is only one way, namely focus on bitcoin holdings and you will be safe in the future.

[Hamphser]

It's okay to get influenced if you know that you're still early and there's bunch of people out there still watiing to get in or to buy that specific crypto, otherwise just don't do it also if you're not sure.
I think it's common sense to not let anyone dictates our decision because it's us who knows ourselves and our asset best.

Most of all, it is beginners who can be at risk, those who do not have very good knowledge, and also do not know how to prioritize, paying attention to various information tricks of various scammers. I believe that most traders are more cautious about social media and the safety of their assets.

- New people are easy to fall into a psychological trap but the old is still no exception, knowledge and experience allow us to analyze more thoroughly a problem but also because of this calculation, our arrogance once again wants to challenge the market and prove ourselves, emotions will be heightened and make the same mistakes as newbies when looking at information on social networks. Almost when social media gives out information about a certain token, I often stay away from these antics, no matter if it is right or wrong, not sure too many opportunities, participating is just wasted time and loss

Even experienced ones isnt an exception because we arent that perfect that can easily tell which one is pure fud and shill and which one is something legit for you to look or consider on.

We can make out presumptions on making out analysis out of those informations but which one will be somewhat the toughest thing to be done.You would need those details so that

you can at least include it into your consideration or adding up on your analysis.Those things are always present so dont get surprised and dont gea easily yourself attached with it.

[Shasha80]

We should trade not to be affected by the signals from other people, because there are some people who use social media to make the coins
they bought before pumping, so they can make a profit. Therefore, I have often said on several topics in this forum, if we want to become
a successful trader, must be able to analyze market movements on your own. And use other people's signals only for comparison, then avoid
joining the pump and dump trading group. Because the group only uses its members for personal gain.

[CryptopreneurBrainboss]

It's okay to get influenced if you know that you're still early and there's bunch of people out there still watiing to get in or to buy that specific crypto, otherwise just don't do it also if you're not sure.

You can trade the news, buy the rumour and all that but know when it's just shilling ongoing and nothing more. Those kind of coins are what you stay away from. Sure they give the best return of investment if you were lucky to get in at the right moment but be cautious as it can go crashing at anything and if you weren't smart enough you get dumped on.

The problem with these hyped coins is that newbie think they're good investment choices instead if just trading them like how other speculators are doing. Holding onto hyped coins can turn out to be the worst mistakes you can make in the industry.

When you see the profits you secure it and wait for room to re-enter the market if the buzz around the project is still ongoing. Never go in with funds you won't be comfortable losing though.

[Theones]

This is so true. Social media news can never be trusted. Everyone is free to write on social media and you never know who is behind a signal on facebook. Do your own research and read posts of senior members here, that will give you enough confidence to trade effectively.