FOGO Trading Advice - A Real Talk by a Real Person.
Give me a Chance to Speak to You First.
My initial experience of trading in crypto is in memory. I was very excited, very nervous, and totally in the dark. I purchased high, sold low and lost money I could not afford to lose. Nobody warned me. Nobody gave me real advice.
Yes, today I shall be such a person to you.
This is not some fancy textbook article. It is a practical lesson, one trader to another, on how to become a smart trader and not make the same agonies most beginners make in their first few aficionado appearances as a FOGO trader.
Let's get into it.
Know What You Are really Purchasing.
Sounds obvious, right? People will be surprised that there are a lot of people who are buying FOGO simply because someone in a Telegram group made them buy it.
Ask yourself before you go to waste a single dollar:
What is the problem that FOGO actually addresses?
Who is the builder and does he/she have a good track record?
What direction do you see FOGO going in the next 1-2 years? 
Is the market capital moderate or is it inflated?
Take only 30 minutes to read the whitepaper of FOGO. The 30 minutes would save you thousands of dollars.
And when you cannot tell what you are investing in, then you are not investing, you are gambling.
Please, Start Small
I know you're excited. I know you want to go all in. Please don't.
The crypto market has put to the ground people who are much more experienced than you and I. Begin with a figure which will not ruin your sleep the day after tomorrow should it fall to zero.
The rule is easy: do not invest more than 5-10 percent of all of your savings in one coin - even your FOGO.
Test the waters. Learn the rhythm. When you are sure of what you are doing, then go ahead and scale up.
No Charts: Fear Eats the Soul.
The first time I encountered a candlestick chart I believed that it was some sort of ancient code. It's not. One only needs a bit of practice.
The following are the areas to focus on in the analysis of FOGO:
The candlestick trends provide you with the tale of sellers and buyers.
Support & Resistance will reveal to you where FOGO is liable to bounce or break.
Volume tells the force of each price movement.
RSI gives you information on whether FOGO is being overbought or oversold at the moment.
Begin with TradingView that is a free and immensely powerful. Just look at the chart of FOGO a little bit every day (20 minutes). You will find that you begin to see patterns very fast.
"Buy the Dip" -- But Do It Right
Everyone says this. Nearly no one does it right.
Buying the dip does not imply that one buys due to a fall in price. It means:
Biding till there is a 10-20% discount on the recent highs.
Ensuring that volume is decelerating in the decline.
Seeking an indication of a change of front before leaping.
Waiting long enough to get verification.
The market rewards patience. I regretted every instance that I dived in without checking. Each waiting time made me glad I had waited.
Make Your Mind Up Before You Go In - Not After.
This was the one that changed everything with me.
No trade should be taken without first writing three things:
Where will I enter?
Where will I take profit?
Where will I cut my loss?
Just stay to that plan regardless of how you feel at that time. The market will attempt to understand your emotions. Your blue print is your anchor.
Stop Loss Is Non-Negotiable
I learned this the hard way.
I even forgot to put a stop loss in place as I was convinced that the coin would turn around. It didn't. I lost 60% of that trade.
Never again.
The following can serve as a simple example of FOGO:
Buy at $1.00
Stop loss at $0.85
Target at $1.30
That's a 1:2 risk-to-reward ratio. You win 3 and lose 4 trades; still you are coming out ahead. This is the way professionals think.
FOMO Will Kill You down — Slack.
You scroll twitter at the middle of the night. FOGO is up 60%. Everybody is hysterical, screaming TO THE MOON. Your heart is racing. You want in RIGHT NOW.
Stop. Breathe. Walk away from your screen.
That feeling in your chest? That's not intuition. That is FOMO - and it has cost traders billions of dollars combined.
In the most efficient arrangements, there is not much sense of urgency. In the event that you are panicking, then it is likely that it is already too late to make this move. Wait for the next one. There's always a next one.
Trade in the Direction of the Trend, not in the Direction of the Strategy.
Trying to counter the market trend is the equivalent of swimming against the river. You will wear yourself out and get nowhere.
When POGO is moving upwards, seek to buy. When it is declining, either withdraw to the sidelines or wait till it turns about.
Simple way to check:
Does FOGO have a price higher than the 200-day moving average? Bullish.
Is it below? Be careful.
Don't become the one who will attempt to be prudent and short a bull market. Trust me.
Your Monster Of Attack Is Your Emotions.
Nobody has to tell you this enough, 50/50 is the strategy and psychology of trading.
FOGO will pump shortly after selling. You will lose immediately you make a purchase. That's not bad luck. That's just crypto. It happens to everyone.
It is not intelligence that makes winning traders out to be losing traders. It's emotional control.
My personal rules:
Revenge trade after a loss never - walk away.
Always avoid overtrading when winning - greed is a vice as well.
Record all trades - this was the one thing that changed my performance.
Create actual breaks - your mind is your trading indicator.
Don’t Put All your Eggs in One Basket.
Diversify even though perhaps FOGO is your favorite coin.
The following is the fair method of a number of traders:
40% Bitcoin The stable basis of your foundation.
30% Ethereum Proven king smart contract.
20% FOGO -- High upside potential
10% Other altcoins - Calculated moonshots.
In this manner, you do not live poorly in case FOGO performs badly in one month.
News Moves Markets- Be Informed.
A single announcement is capable of moving FOGO 40 percent an hour. It can be just as easily crashed by one negative headline.@Fogo Official #fogo $FOGO