The narrator provides advice on how to research cryptocurrency coins and tokens before investing, known as "doing your own research" or DYOR. Key steps include:
- Check the project's website and whitepaper for details on the technology, team, roadmap, and tokenomics
- Search online to learn about the founders' and developers' backgrounds and qualifications
- Join Telegram, Discord or Reddit groups to gauge community engagement and sentiment
- Analyze trading data like market capitalization, volume, liquidity, and price charts to assess project traction and investor demand
- Review independent analysis videos on YouTube and articles evaluating the cryptocurrency's merits and risks
The narrator stresses thoroughly investigating coins yourself rather than relying solely on others' opinions before investing.
The narrator states that he will show the thought process behind finding good crypto trades. He will be given random tokens and will chart them, explaining where he would enter and exit trades. He wants to illustrate his thinking as a trader and how he makes money.
He created a free course called Sniper School to teach crypto trading basics. He believes crypto can change lives if properly educated. The course teaches charting tools to build a "toolbox" to make money in crypto.
He analyzes several token charts, identifying support/resistance levels, trends, and indicators like RSI to determine ideal entry and exit points. His targets are typically previous highs or major resistance levels. He uses techniques like Fibonacci retracements, trend lines, horizontal levels to set up trades.
He reiterates that simplicity is key. He advises new traders to zoom out to higher timeframes, use dollar cost averaging, and not overtrade. He welcomes all ages to join the Sniper School community to get education and support to achieve financial freedom.
The narrator, Kevin O'Leary, discusses his approach to investing in cryptocurrencies. He treats cryptocurrencies as software platforms and evaluates them similarly to how he previously evaluated software companies. His main criteria are:
Team - He wants to meet the engineers and management to assess their talent and vision.
Economic value - He looks for cryptocurrencies that are solving real problems and creating economic value, such as reducing transaction fees.
Some examples he invests in are Polygon, Hedera Hashgraph, Solana, Ethereum, and Bitcoin. He believes cryptocurrencies will eventually become a major asset class like tech stocks.
To offset volatility, he also invests in exchanges like FTX. His view is institutions should treat cryptocurrencies like any other software investment.
The narrator says that technical analysis (TA) in crypto is mostly like astrology and analysts are called astrologers. While TA has some uses, most traders fail because they don't have the resources to accurately utilize TA. The narrator recommends zooming out for more accurate TA rather than expecting new patterns to emerge from previous ones. His community makes investment decisions based on long-term value plays in sectors like AI, gaming, layer ones, and decentralized infrastructure. They research projects within these sectors that have strong foundations, leadership, market integration, partners, and community. The narrator says now is the time for intelligent investments rather than gambling on meme coins. Joining groups and networks helps analyze market narratives. Do your own research or find someone trustworthy. The learning curve is easier thanks to resources like YouTube and Twitter. There are great opportunities for everyone but no easy way around becoming educated.
Here is a condensed summary of the main points from the text:
The narrator discusses the importance of not becoming emotionally attached to cryptocurrency projects. He advises having conviction in coins but also remaining flexible enough to pivot when opportunities arise elsewhere. This requires dedicating substantial time to research - he suggests a minimum of 3-4 hours per day. It also requires having funds available to reallocate rather than having everything tied up in current holdings.
He emphasizes the value of asking knowledgeable people thoughtful questions, studying on-chain metrics, and identifying volume spikes to detect where "whales" are moving money. The narrator shares that he personally finds success counter-trading bull and bear traps. He explains the importance of allocating enough capital to selected coins so that significant profits can be realized when they pump.
To help viewers improve their crypto trading, the narratorplug and his colleague Ben are launching a weekday morning livestream where they will openly discuss their real-time research and analysis. He stresses that this is not a get-rich-quick scheme but rather an opportunity to systematically learn from experienced traders.