School me breh I'm completely lost on how U guys are just picking coins. I had 1k that I spread around in the top ten Alts came up about 100 but feel like I'm not doing this right
1. Find coins on cmc you think you might like. Do research on the coin and technology involved.
2. Look around at the communities to see how active the team and investors are. Reddit is a good indicator for this. Also use social media ranking sites to see how most people on twitter and facebook view the coin.
3. After you have done both of thoee if you want to invest in it sit down and figure out WHY you think this is a good investment. Is it for long term or short term? When do you expect to get paid? Do you actually
believe in this technology?
4. Read any news and public posts about your potential investment that you can. Once I really start to like a coin I get even more skeptical and if there have been no recent press releases, glitchy websites, wallets not syncing, etc. I might pull back until things seem on the up and up business wise for that particular group.
5. If at the end if this I am still interested in investing I weigh it against the rest of my portfolio, evaluate my risk, figure out the long term potential by analyzing price history and reading what some technical analysts say about it.
Dont just stick around in the top 10 coins or even thr top 100. I have made some good money investing in a few companies who weren't a blip on the radar months prior. One thing I have noticed is that the more active the community seems to be usually means it is a pretty sound investment. There are plenty of exceptions to that though.