2021 was my first bull run... If I knew these 5 things back then, I'd have made millions more!
So here are five things that will give you a massive shortcut this run 👇
1. Don't Chase 100x Cryptos 🟪
Look, if you catch a 100x, it's awesome... but when you start chasing 100x cryptos you fall into a trap of holding on too long.
You are up 10x but that's not enough! You need that 100x!!!
Before you know it you are back at 1x.
Don't get caught in that trap. A 100x is something that just happens. You buy a crypto and it blows up 🚀
But the moment you start chasing them... you miss out on those easy 10x gains. And realistically you make more money flipping a few 10x gains than a single 100x!
2. Control Your Fear 🟪
There will be days much worse than today in the coming months. Days where BTC dumps more than 10% and you might start thinking "It's all over!!"
Just look at the last cycle 10%-20% dips were fairly common. It was easy to panic when they happened.
Especially when the knob wombats on here start freaking out. Fear is infectious.
So you need to learn to control the fear. Develop a mindset of buying into fear instead of being weak in the face of it.
The bull run rewards those with the biggest balls.
3. Diamond Hands Are Stupid 🟪
As the bull run heats up people here will start yelling "DIAMOND HANDS"...
They will try to make you feel stupid for taking profit. But in reality, they are the knob wombats.
Do you know what happened to the diamond hands in 2022?
They round-tripped millions back to a few hundred and had to go back to work.
I say this a lot because it's important. If you make life-changing money, take profit!
4. Maintain Objectivity 🟪
There's no place for love in crypto. Falling in love with a project impedes your objectivity.
How many people fell in love with LUNA and lost it all? The answer is a lot. Billions were lost.But it's not just about disasters like LUNA...
How many held their ADA at $3 because they love it and sMaRt CoNTraCts? I held some 🤣
Then ADA peaked early and was down only for years.
That was a nice lesson for me. I don't fall in love with projects anymore, when things aren't right, I'm ready to cut and run!
5. Cut Your Losses 🟪
This brings me nicely to cutting losers, which is a vital skill.
I often see people say "I'm down too much to sell, I'll wait." There are two issues with that thought process:
First, if a crypto is down in a bull market, it's not worth holding!
Second, it's better to take a 70% loss and walk away with something than sit around and wait for a 99% loss.
If I sell a crypto down 70% and invest the 30% left over into another crypto that does a 3x I am in profit again...
When an investment isn't working out, SELL!
I hope you've found this thread useful. If you did, Follow for more pls.
🚨🚔