Quote from: cryptotrader2015 on February 17, 2019, 05:10:20 PM

95% of all Day Traders fail because of lack of knowledge and timing. Day Trading is very difficult to apply in cryptocurrency trading. Why? Because cryptocurrency markets are unpredictable. It really needs more reviews and research before buying certain coin or token. I always advice new traders to spend their time to get to know the concept and the purpose of the projects or to DYOR (Do Your Own Research). Sometimes the reason why you buy certain coin or token because of hype or FOMO ( fear of missing out ) wherein you see your friends in social media enjoying what they hold. FOMO always happen anywhere in social media because it uses as a marketing strategy to manipulate the markets. Therefore, before diving into cryptotrading, always make sure to DYOR!

the statement is correct because some of the trading people will not do it properly and don't know the right situation going on this field so the traders should definitely know about this field and get updated every day otherwise you cannot survive here for long time.