This blog is based on Future Trading.
You probably have seen people blogging here about crypto currencies, predicting what will happen in the future, like a few weeks or months from now on. These people get upvotes from whales and we little sharks believe these bloggers and we blindly follow them.... But you know, it is all about probabilities. EVERYBODY can make such blog. It's simple. It's either bullish or bearish right? The thing is, everybody likes to hear good news. So if someone with a fat wallet here writes a blog about market going bullish, wales are going to upvote them. BUT does this person know much about the crypto market? Screaming Bitcoin will go bullish or bearish is easy. My 10 year old son can do that, and there is a 50% probability he is right!
S0 here are a few signs YOU can spot a fake crypto trader.
1. Checking on Twitter about crypto
Ok, you can not check and know if someone blog about crypto based on what he/she read on twitter. But if he/she is doing that, then that is a sign he can not trade without the help of Twitter. I personally don't even have a twitter account. You think I should?
2. Follow the crowd
This one is similar to nr. 1, where he/she is going bullish because everyone is doing so. You should never trade if you don't know what you are doing. When you follow the crowd, you are basically gambling and for sure you will get nervous.
3. Chart only has lines
Does his/her chart looks like the first pictures with only lines? Or worser: only ONE line?
If so, this is a red flag! Your chart needs to look like the second one, with Candles and even better: with indicators!
4. Not telling you when he/she is entering a trade
A trader that knows what he/she is talking about, will tell you where he/she entered a trade. This person also will tell you where his take profit will be. Also will this person give an update about his trade.
5. Not using any trading strategies
If this person does not mention WHY he/she thinks it will go bullish, he/she knows not more than you. Trading crypto or Forex requires knowledge of (existing) strategies. You simply can not trade without having any strategy.
Conclusion
Don't blindly follow someone. Study and analyse the market. Google about trading strategies and trade based on what YOU SEE, NOT what you THINK. Invest in understanding the crypto/forex market. Make mistakes. Lots of mistakes!
Source: https://stories.td.com/us/en/article/fake-people-real-fraud
https://ultcoin365.com/twitters-top-10-most-mentioned-crypto-tokens/
http://thetendermerciesofthelord.blogspot.com/2012/10/following-crowd-or-standing-alone.html