Ask Leo: why is it important to always DYOR?

Research is very important is a very crucial part of any endeavour that is aimed at getting a satisfying result and much more so can be said about trading.

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Many traders enter markets blindly without adequate research either based on rumours and trends, based on insubstantial information that is spawn off suggestions and supposed outcomes, Fear Of Missing Out(FOMO) or taking financial advices from another trader that may also not be well infomed. All these aforementioned errors in action can be easily solved by engaging in intensive research and information hunt before entering any market to trade, Crypto market especially have the tendencies of putting a trader at a deleterious state of massive losses when dealing without being well informed about it.
The LUNC is a good example a recent happening in which a lot of traders hop into the market because of FOMO but ended loosing more than they could take, a lot of investors were also in on the losses as the LUNC value crashed and nearly enough rugpulled completely and fade into history.

Whatever info you hear from another trader is Not a Financial Advice(NFA), it's always safer to Do Your Own Research(DYOR).

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