Talk about one thing you must learn during a bull market: Position management

For short-term trading, you need to set stop-loss and take-profit levels; retreat when there's risk, and learn to run when there's profit.

For long-term investment, you need to set goals and expectations. You should consider what heights the project might reach, especially if you have low-cost positions. The most challenging part of long-term investing is the mindset because you can't just keep pushing the price up; every time the price rises, you need to shake out the weak hands and the late buyers to keep moving forward. Can you stick to your investment strategy?

There’s a psychological hint: for example, if you bought Ordi at $3 and sold it at $8, then it rises to $30, even if you think it can go higher, you wouldn't want to get back in.

Invest in short-term and long-term separately.

For short-term, remember not to play long-term. If you drop and don't know how to stop-loss, you'll end up locked in, which is very uncomfortable. You were originally speculating, not investing for value; if it drops too much, you won’t average down, you’ll just cut your losses.

For long-term, don’t treat it like short-term. You could have held for a much higher price, but if you sell your position at a slight rise, or you run away at a slight pullback, you’ll never be able to buy back that Ordi you sold at $3. So, you must learn to sell in batches.

In the secondary market, a bull market will always push prices up. So keep your investment rhythm, and set up long-term positions. Short-term must focus on hot spots.

Separate positions: 70% long-term and 30% short-term. Short-term positions may yield several times returns when they encounter trending market conditions, but even in a bull market, always maintain the mindset of never being fully invested. Being fully invested is very passive.

For short-term, focus on trending spots, and set good stop-loss and take-profit levels. For long-term coins, adhere to the principle of doubling your capital before taking out your original investment, and be determined to hold profits for over a year. Some say they can take out without doubling, but you need to cultivate a stronger mindset, especially since many coins can experience significant pullbacks after rising. Doubling your capital allows you to continue looking for good opportunities or to withdraw.

With a clear mindset, you can make money during a bull market. In a bull market, pursue vague price points.

For example, if you fear missing out and think the pullback is almost over, or you're at a low point, but you also fear a sharp drop, you can first buy a small position to get a feel for the market. Be brave enough to get caught in a pullback; only after being caught can you continue to add to your position, otherwise, you may never get the chance to get in.