How I Identify A Good Project, tags: ADA BTC ETH LTC NEO XRP EOS
My method and key metrics I check before entering a trade or even getting too technical with the chart.You know: Why would we set ourselves up for failure?
I thought I'd share this with my friends, and why not make it public too.
General coin information: where is it trading, is it at an all time high, is the website quality, do they have twitter/facebook/reddit, what are similar projects it has to compete against. My preference for this is CoinCheckup and CoinGecko, they also tackle some of my other requirements listed above. Why should we do this? I think it is obvious but, can I get it on my exchange, does it look like work went into the project and the team cares, finally long term who could beat them out- would I pit Orlycoin against LTC- no.
Does the project have a whitepaper and exposed team? similar to above but important enough to call it out. This can be found on each projects website. Check if it is there, read it if you want. In my opinion, if the team is there and a whitepaper exists, the price will reflect their strength.
Is the developer still involved? Evaluating GitHUB code repository. Let's use two examples here, ETH to start. Developer tab CoinGecko, GitHUB Commits, GitHUB activity CoinCheckup. And on the opposite end of the spectrum, SALT lending platform. Gecko and Checkup. Now don't take I am knocking SALT, we would want to check their roadmap to see where they are in their plan, but eventually we want to see developer activity. And for those that have code, we would like to see maintenance and continual development. CryptoMiso is a cool tool to compare activity side by side.
Is the team socially active? Communication is key! Find the twitter page using project site or an index like coinmarket cap. Maybe it's reddit, email or facebook. Are their communications valuable, or are they posting pumps and pictures of pizza parties... Study Gecko's community page, everything is here. Socialblade is a decent alternative, extra work though. Bonus tool, CoinMarketCal - a calendar of events peer reviewed for accuracy.
What is the general sentiment? Sentiment gives a good idea of the market direction current and future. It is how people feel about a project, or per our tool, how computers think people feel. This isn't so much necessary. I guess - be prepared. Here's two. Socialmention and SnetimentVIZ for twitter and mentions. Google TalkWalker if you want a more advanced platform. Some say news drives price, others argue price brings news to the surface, I say both and corporate manipulation.
Is it trading technically? Lastly, how are the charts holding up? When do I get in? I'll be brief here, algorithms. Let me expand a bit. Elliott wave, Fibonacci and probabilities. I want to know why the price stopped and pivoted there, and where will it go?..........
I thought I'd share this with my friends, and why not make it public too.
- General coin info.
- Does the project have a whitepaper and exposed team?
- Is the developer still involved?
- Is the team socially active?
- What is the general sentiment?
- Is it trading technically?
General coin information: where is it trading, is it at an all time high, is the website quality, do they have twitter/facebook/reddit, what are similar projects it has to compete against. My preference for this is CoinCheckup and CoinGecko, they also tackle some of my other requirements listed above. Why should we do this? I think it is obvious but, can I get it on my exchange, does it look like work went into the project and the team cares, finally long term who could beat them out- would I pit Orlycoin against LTC- no.
Does the project have a whitepaper and exposed team? similar to above but important enough to call it out. This can be found on each projects website. Check if it is there, read it if you want. In my opinion, if the team is there and a whitepaper exists, the price will reflect their strength.
Is the developer still involved? Evaluating GitHUB code repository. Let's use two examples here, ETH to start. Developer tab CoinGecko, GitHUB Commits, GitHUB activity CoinCheckup. And on the opposite end of the spectrum, SALT lending platform. Gecko and Checkup. Now don't take I am knocking SALT, we would want to check their roadmap to see where they are in their plan, but eventually we want to see developer activity. And for those that have code, we would like to see maintenance and continual development. CryptoMiso is a cool tool to compare activity side by side.
Is the team socially active? Communication is key! Find the twitter page using project site or an index like coinmarket cap. Maybe it's reddit, email or facebook. Are their communications valuable, or are they posting pumps and pictures of pizza parties... Study Gecko's community page, everything is here. Socialblade is a decent alternative, extra work though. Bonus tool, CoinMarketCal - a calendar of events peer reviewed for accuracy.
What is the general sentiment? Sentiment gives a good idea of the market direction current and future. It is how people feel about a project, or per our tool, how computers think people feel. This isn't so much necessary. I guess - be prepared. Here's two. Socialmention and SnetimentVIZ for twitter and mentions. Google TalkWalker if you want a more advanced platform. Some say news drives price, others argue price brings news to the surface, I say both and corporate manipulation.
Is it trading technically? Lastly, how are the charts holding up? When do I get in? I'll be brief here, algorithms. Let me expand a bit. Elliott wave, Fibonacci and probabilities. I want to know why the price stopped and pivoted there, and where will it go?..........
Comment:
Bonus tools.
Money Flow, Alerts, Social Mentions
Money Flow and Origin
Price Correlation Matrix
Closing remarks, I always have more, just ask.
Disclaimer, I don't know how to use commas.
-rnm410
Money Flow, Alerts, Social Mentions
Money Flow and Origin
Price Correlation Matrix
Closing remarks, I always have more, just ask.
Disclaimer, I don't know how to use commas.
-rnm410
Elliott Wave Rules
Elliott Wave Notes
Elliott Wave Probabilities
Elliott Wave Recommended Read