Why you should always DYOR:
You’ll see it under every call, including mine. The classic ‘DYOR’. This is kinda just a term that most people are used to now, and it’s really mostly used now as another way of saying ‘I’m not liable if you lose money. Doing your own research isn’t just important, it is absolutely crucial.
Pumping and dumping in alpha calling is becoming more and more frequent, especially as people do less and less research. People recently seem to be seeing a call, and buying straight in as it comes from a caller they ‘trust’ or a caller that ‘always hits’. Regardless of what you think of this caller (including me), please, always do your own research.
Calls are not supposed to be directions that you follow blindly, they are and should be a source of information and a collection of research + an opinion. This is why, you should always DYOR to check if you actually agree with what is being said.
Steps to Doing Your Own Research. This is not a universal rule, but these are the ways I like to do it.
1) First head to the Magic Eden link and check the FP BEFORE doing research. Check that you actually do have the ability to buy in. It is important you do it before, otherwise in the future you may make excuses if you like what you see and buy in with money you’re not really happy to lose.
2) Check the roadmap/whitepaper + recent announcements. You don’t have to read every single word of their whitepaper, but a decent enough read that you get the vibe of the roadmap and understand what their vision is. It is also important to check their recent announcements as they may have made changes to the roadmap/moved forward in the roadmap.
3) Try and find information on the team. Some projects make this easier to find than others, but it should be on their discord or in their whitepaper (if not, that’s usually taken as a red flag). The team doesn’t necessarily have to be doxxed, but that should increase confidence. Look to see their qualifications and what they have done in the past that shows that they will do well in control of this project.
Once you have followed these steps at least, you’ve done a decent amont of research and you can make a much more educated decision! Now please, promise me these two things:
1) You will always DYOR regardless of your opinion of the caller
2) You will not ignore red flags