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1/ # 2.9 Overview of how you need to approaching crypto
Your objective is to make money. Balancing risk/reward to maximise your chance of safely making the most money, in the shortest amount of time based on the current market conditions.
Your objective is to make money. Balancing risk/reward to maximise your chance of safely making the most money, in the shortest amount of time based on the current market conditions.
2/ A 5x is no good if it takes 12months+ and you could& #39;ve made 100x in that time if you& #39;d invested in 3–4 projects back to back elsewhere.
All your decisions/actions need to be based on the above goal.
All your decisions/actions need to be based on the above goal.
3/ This may sound obvious but many seem to lose sight of this and instead end up holding a project they "like", instead of sticking to the above objective.
4/ Don& #39;t get sucked into "liking" a single project and being in its community, If you find yourself in this situation, ask yourself, “why did you get into crypto?”. To join a fan club, make internet friends, or was it to make money? These companies don& #39;t care about you.
5/ They care about making their own money. Your goal is a price increase of the token. Their goal is a successful business. You& #39;re not a stock holder in the company. The companies success isn& #39;t your success. There& #39;s some link, but it isn& #39;t direct.
6/ You& #39;re the holder of a token they produced which has some tokenomics.
Gains is what matters. The most possible in safest surest manner over a timeframe.
You may have been conditioned to think doing anything but HODL& #39;in is dangerous.
Gains is what matters. The most possible in safest surest manner over a timeframe.
You may have been conditioned to think doing anything but HODL& #39;in is dangerous.
7/ What I& #39;m talking about here does not mean jumping from one token to another 5 times a day.
8/ Its about picking investments for your funds that over the upcoming timeframe (which could be months in a slow market, weeks in a fast moving one) perform the best for that money, and constantly watching to see if something else could be the best use of those funds.
9/ You do not need to take risks on risky crap to get big gains, $1000 to $1M is just 5 4x solid plays. In a market run it& #39;s easy to do. Theres multiple 4-5x plays per month. Even in slower markets you can find at least one of these every couple of months.
10/ The problem is rarely do people follow the simple path because of greed and being a moron. They get 4x,5x,10x but don& #39;t sell, they maybe take some profit but mostly cling on telling each other "this could be the next $XYZ and do 100x".
11/ They get a fast high number of x& #39;s, get sucked in and then sit waiting for further x& #39;s missing out on other opportunities
A classic example of this is $XRP .
A classic example of this is $XRP .
12/ Theres people who made 100x+ on it in a few months.. but they got sucked in and clung on for another promised 5x and have lost years. $LINK is another of these. Don& #39;t make 10x fast and then waste time waiting for a further 2x that you can get faster elsewhere.
13/ Forget what a token has done, whats it up, always be asking yourself "Are my funds currently in the optimum opportunities to make the highest , surest gains over a timeframe?" This is why I never answer dumb questions such as "Whats your target sell price on $XYZ ?" .
14/ I don& #39;t have one. My portfolio exists on a survival of the best gains policy. I don& #39;t care what a token has done for me, if today something comes up which I believe will more likely out perform it over the next quarter I will dump it and switch.
15/ I care 0% about any of these projects. If I was holding some solid play like $AVAX $LUNA and today you show me that a cat meme coin will more safely, more likely, outperform it over the next 3 months I will be switching to that cat coin. So what is my target sell price?
16/ My sell price is when something better comes along.
That doesn& #39;t mean you want to switch easily. You have to have some patience and give things a chance.
That doesn& #39;t mean you want to switch easily. You have to have some patience and give things a chance.
