cryptos

Trading AI

Pump and dumpers are people who often say, ‘Hey, let’s all of us together pump this coin,’ which means buy the coin, create the demand in the market, the coin will go up in value. Then, everyone “dumps” the coin and sells. These schemes are often orchestrated through apps like Slack or Telegram. Curious chatroom readers to beware of such gimmicks. An investigation into “pump and dump” schemes found the practice to be an “open secret among many cryptocurrency traders.”

Short form for ‘fear of missing out’. The feeling when you see a huge green percentage growth on a chart and you don’t own that coin, so you sell other shit to buy into it and freaking out. As crypto trading is still very much driven by emotions rather than valuation, FOMO is a huge factor to consider when swing trading in crypto.

‘Do your own research’ (DYOR) is a common pearl of wisdom: If you’re told to DYOR, it means you should think for yourself and draw your own conclusions, rather than following the wisdom of the crowd — or lack thereof. Failure to DYOR can get you rekt.

To the Moon’ is an exclamation used when cryptocurrency prices are rising off the charts. By the same token, when a coin’s price is “mooning,” that means that the price has hit a peak. You might ask the grammatically-incorrect question “when moon?” if you wanted to know the opportune time to sell your cryptocurrency, before prices go back down.