Last bull run, 10 friends made over $100k, but 9 of them ended up with almost nothing, including me. This time, I'm sharing 15 mistakes to avoid in bull markets. Most people will lose their profits due to preventable mistakes. Here's what to avoid:‼️‼️‼️‼️‼️‼️‼️
1. Lack of framework: Have a clear plan and understand what you're doing.
2. Not having multiple portfolios: Divide your investments into long-term, mid-term, and short-term categories.
3. Thinking patterns repeat: Each cycle is unique, so stay flexible.
4. Overemphasizing fundamentals: Consider hype and narratives in bull markets.
5. Not setting take profits and stop-losses: Define your investment goals and set targets.
6. Riding narratives: Find trends early and ride them, but don't overdo it.
7. Poor diversification: Focus on 5-10 projects to avoid losing everything.
8. Rotating too much: Wait for the right moment to invest and take profits.
9. Cognitive biases: Be aware of your biases to make informed decisions.
10. Fading momentum: Don't hesitate to invest in a token that's already increased in value.
Remember, this is not financial advice, and I'm just sharing my own experiences and insights. Follow me for more educational post !
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