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TaylorWebb.eth
@taylorwebb.eth
gm ☕ I’ve been investing in the Web3 space for over 9 years now, and want to share what I’ve learned and how I invest. You guys already know I’m very bullish on Moxie - this thread isn’t about Moxie, its about investing in Web3 projects in general. None of this is financial advice, I’m simply sharing what I’ve learned and what has worked for me. 🧵👇
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TaylorWebb.eth
@taylorwebb.eth
1/ Don’t trade I define trading as buying and selling on a short time horizon - hours, day, weeks - trying to time the market price changes. IMO price movements in the short term are just noise, and can’t be predicted any more accurately than a coin toss. Now add trading fees to the equation and it becomes obvious that the average trader loses money - its a negative-sum game. This why I have zero FOMO about all the memecoin mania happening on Solana. Sure, there are some people making lots of money, but most are probably losing. It’s a casino. On average the casino wins, not the gambler.
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TaylorWebb.eth
@taylorwebb.eth
2/ Past prices can’t predict future prices Ok this take might be a bit more controversial, but I am calling out technical analysis here as being almost entirely BS. For those that don’t know, technical analysis is using math or patterns of historical prices on the chart to try to predict future prices. Trendlines, fibonacci levels (lol), pattern drawing, indicators like MACD, RSI - IMO none of this works, and when I see stuff like this posted I always ignore it. Imagine trying to drive your car by only looking in the rear view mirror. That’s technical analysis.
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TaylorWebb.eth
@taylorwebb.eth
3/ Have conviction in something because of fundamentals By fundamentals, I’m talking about things like: - Does it provide a new utility to users? - Does the project have revenue, how much? - What is the long term vision? - How big could that vision realistically become? - How strong is the protocol design / tokenomics - How strong is the founding team? Are they long term aligned? - How strong is the ecosystem around it? - How strong is the branding & marketing? - Does the project have space to grow into? - How big is the target market? These are just some examples of fundamental metrics I think about, but there are countless others that can be useful. All that matters is how strong these fundamentals are right now, and that is what will drive future prices. I started buying BTC in summer of 2015 because I did a lot of research and found myself very bullish on the fundamentals of BTC. Not many people focused on historical prices would have made this entry.
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Abs 🎩
@abss
I totally agree on this one, lol 😆
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LΞovido
@leovido.eth
Totally agree with you and your car analogy is perfect. Ngl, when I see the in depth analysis it's cool and all that, but too much. I never sat down and actually analyse it. There's far more interesting things to do
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Emily 🎩🃏🍖
@mahla
Really great advice 👏 I lost my money because of this🥹
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Harry 💎🎩🍖Ⓜ️↑
@proharry
I was planning to learn about patterns but my gut feeling was right, It's no use because we can't predict future
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