You should make the decision on your own because you really completely understood the product that you want to invest in.
#PROTRADER TRADELIKEAPRO PROFESSIONAL#
You as a professional should always be able to live with the choices that you´ve made in the past and you should never blame anyone else for your financial losses, such as some bank advisor or some Twitter shills. The professional trader knows that in the end, he alone is responsible for his own investment decisions and no one else. Take Responsibility And Do Your Own Research In case you´ve missed it, you can still check it out here.ģ. So when is the best time to sell your altcoins and collect the gains? I already wrote a post trying to answer this strategically important question. You should know when you want to collect your gains. Furthermore, your strategy should contain an exit strategy. Long-term is months and years while short-term means some days or weeks. He has this strategy even before he starts trading and investing.īasically, you can have a long-term strategy or a short-term strategy.
The professional trader on the other hand always has a trading strategy. The Degen just trades without any kind of strategy. You as a professional trader, you do understand your investments well and you also keep yourself up to date on recent developments. Only A degen trader invests his hard-earned money in stuff that he doesn´t understand. It`s a common mistake that people invest their money in stuff that they don`t understand while hoping they can get rich quickly. This may sound quite simple but nevertheless, it`s essential when it comes to investing in cryptocurrencies. So please, before you invest bigger sums in cryptocurrencies like all your life savings, learn as much as possible about them. Hoping to make quick money, while not understanding cryptocurrencies at all is actually a really bad idea! That´s the Degen style. The first thing that you need to make different to the Degen is this: You should only invest in stuff that you really understand.
#PROTRADER TRADELIKEAPRO PRO#
Unlike the Degen, the Pro trader really understands his investments, he has a strategy, he takes responsibility for his investments, he does his own research, he stays cool and doesn´t FOMO, and he never gets greedy. Now the professional trader is basically the complete opposite of the Degen Trader. Instead, what you want to become is a professional trader making money, not losing money. Honestly, no one wants to be a Degen trader because if you trade like a Degen, you will lose a lot of money quickly. This is such an awesome explanation of the term "Degen" that I haven´t much more to add. They will buy because the asset logo looks cute, or because the slogan is memeable, or because some twit-famous anime girl on the internet says she's looking into crypto and the first two shill comments get more likes than others.Įssentially, a degen trader buys into an asset not because they see value, rather they do so with the belief that others will join in after them and speculate on the price swings." A Degen Trader does not know about metrics like FDV or TVL nor do they care. Degen trading or Degen mode is when a trader does trading without due diligence and research, aping into signals and FOMO into pumps. Until then, I didn´t even know that such a term exists. I have to admit that I had a really good laugh when reading the explanation of "Degen". If you are not familiar with one of these terms, make sure to check the CoinGecko glossary for cryptocurrency terms and you will find the right explanation.
There are a lot of funny and unique terms in the cryptocurrency space like FOMO or HODL. Recently, I stumbled upon the term "Degen" in the CoinGecko Glossary for Cryptocurrency. 😎įirst of all, let me tell you about Degen Trading. You need to make sure that you don´t trade like a Degen. This makes it even more important to stay cool when you trade. If you haven´t recognized it yet, let me tell you that the cryptocurrency market is extremely hot right now.
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