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This is now my 5th year of being full-time in crypto 
I wrote a small thread on the mistakes I did in the previous cycle so that hopefully you can implement some of the stuff to your strategy and actually leave this market with some profits and not just heavy bags
Let's go
I wrote a small thread on the mistakes I did in the previous cycle so that hopefully you can implement some of the stuff to your strategy and actually leave this market with some profits and not just heavy bags
Let's go
1. Projection of potential profits
Counting how much I wouldâve made if I didnât sell early and held. Does absolutely nothing outside of fucking with your own head. I think Iâve missed like 5 100x this season alone and I couldnât care less. There is always another opportunity.
Counting how much I wouldâve made if I didnât sell early and held. Does absolutely nothing outside of fucking with your own head. I think Iâve missed like 5 100x this season alone and I couldnât care less. There is always another opportunity.
2. Not paying myself regularly
Even if I donât need it (or donât want to) I have never regretted withdrawing some money every 2 or 3 weeks. Itâs the work that I do for my future self that wonât be as euphoric and well-positioned as the current me in the middle of a bull market.
Even if I donât need it (or donât want to) I have never regretted withdrawing some money every 2 or 3 weeks. Itâs the work that I do for my future self that wonât be as euphoric and well-positioned as the current me in the middle of a bull market.
3. Having a squad
Most of the stuff that I made $ on was either tipped to me or came from knowing right people. A strong network is a key to success anywhere but in crypto itâs especially true as there is too much data to handle it by yourself. Try connecting as much as possible
Most of the stuff that I made $ on was either tipped to me or came from knowing right people. A strong network is a key to success anywhere but in crypto itâs especially true as there is too much data to handle it by yourself. Try connecting as much as possible
4. Speculation is king
Crypto goes up because people speculate on its value, rarely because it provides any. Once the hype dies down so does the potential profits, thatâs why new coins tend to perform much better.
Donât ask âis it good?â â ask âwill it pump?â instead
Crypto goes up because people speculate on its value, rarely because it provides any. Once the hype dies down so does the potential profits, thatâs why new coins tend to perform much better.
Donât ask âis it good?â â ask âwill it pump?â instead
5. Having full exposure to crypto
This comes down basically to tracking and keeping my portfolio in USD instead of BTC.
Less profits? Yea but it removes the need to be constantly aware of the market conditions. I trade when I want and I always have some profits secured.
This comes down basically to tracking and keeping my portfolio in USD instead of BTC.
Less profits? Yea but it removes the need to be constantly aware of the market conditions. I trade when I want and I always have some profits secured.
6. Spreading myself too thin
I used to hold 25+ bags and while that worked well for my FOMO, it was ineffective. The market moves in waves so there is no point in holding 10 coins instead of picking 2 that show slightly more strength.
+ itâs harder to manage and risk is similar
I used to hold 25+ bags and while that worked well for my FOMO, it was ineffective. The market moves in waves so there is no point in holding 10 coins instead of picking 2 that show slightly more strength.
+ itâs harder to manage and risk is similar
7. Not cutting the losers early
Watching coins go down in hopes of a bounce works in a bull market but not being able to change the bias quickly enough costed me a lot of my '17 profits
Alts are a seasonal buy - good for a few months, dying rest of the year. Treat them this way
Watching coins go down in hopes of a bounce works in a bull market but not being able to change the bias quickly enough costed me a lot of my '17 profits
Alts are a seasonal buy - good for a few months, dying rest of the year. Treat them this way
8. Taking care of mental health
24/7 market can be a bitch when it comes to mental fatigue, bad sleeping pattern or low physical activity
Trading with a clouded mind is no trading and affects not only your profitabilty but even future confidence in your own analysis
Take care
24/7 market can be a bitch when it comes to mental fatigue, bad sleeping pattern or low physical activity
Trading with a clouded mind is no trading and affects not only your profitabilty but even future confidence in your own analysis
Take care
9. Trading with high leverage
The higher the leverage the more emotions are involved, especially that I trade with wide stops and higher TFs
My profits went up considerably when I allowed myself to be more patient instead of babysitting trades that hurt on a 2% drop
5x is
The higher the leverage the more emotions are involved, especially that I trade with wide stops and higher TFs
My profits went up considerably when I allowed myself to be more patient instead of babysitting trades that hurt on a 2% drop
5x is
10. Less trading more HODLing (as long as the trend is intact)
1/2 As much as I donât believe in long-term HODLing (i.e. years when average cycle takes sometimes months if not weeks), vast majority would be much more profitable if they held a coin instead of trying to flip it
1/2 As much as I donât believe in long-term HODLing (i.e. years when average cycle takes sometimes months if not weeks), vast majority would be much more profitable if they held a coin instead of trying to flip it
2/2 Coins can do 100x during their cycle â why try to risk losing that early entry for additional 20% profit by selling and entering lower? Take some profit instead â if you want you can always reenter with it. Trading can be easy, itâs you that is making it hard.
11. Everything is a scam
To me everything in crypto is a scam. Even if itâs not â itâs still a scam. In the end Iâm here to make money and I gain absolutely nothing from having emotional attachment to my bags. You wonât see me active in teamâs channels. I donât care what I trade
To me everything in crypto is a scam. Even if itâs not â itâs still a scam. In the end Iâm here to make money and I gain absolutely nothing from having emotional attachment to my bags. You wonât see me active in teamâs channels. I donât care what I trade
12. Getting rekt
Unfortunately I believe that to be a successful trader anyone needs to get absolutely rekt at least once. Only after that I actually started to listen to my own advice and have a system in place. The comfort of a bull market will be your doom when the bear comes
Unfortunately I believe that to be a successful trader anyone needs to get absolutely rekt at least once. Only after that I actually started to listen to my own advice and have a system in place. The comfort of a bull market will be your doom when the bear comes
These are the rules that work for me, but everyone obviously is different and has a different risk tolerance
One thing that I know is that market will humble you one way or another so itâs important what you do now to minimize the pain when it comes
Cheers fellow bullas
One thing that I know is that market will humble you one way or another so itâs important what you do now to minimize the pain when it comes
Cheers fellow bullas
