10 things to AVOID doing this bull as we step into this new week,
progressing through the month and closer than ever to the 2024 bitcoin halving.
Making money in a bull run is easy. Keeping it is hard. In 2021, I could've walked away with millions.
Instead, I round-tripped a lot of my profits. But you can learn from my mistakes, and do things the RIGHT way.
1. DON'T CHASE PUMPS
This is the easiest way to lose money in an up-trending market. Every day there is a new coin/narrative which is the new flavor of CT.
2. DON’T GO IN WITHOUT A PLAN
Before you buy a coin, always clearly outline your buy plan, as well as your sell plan, with clear invalidation levels.
I wrote in one of answers recently outlining my full take-profit strategy/exit plan, which you may find valuable.
3. DON’T BLINDLY APE
A little research goes a long way in a bull run. Look into coins that are showing strength, then apply some Due Diligence into their tokenomics/basic fundamentals.
Although hype trumps fundamentals in a bull, Due Diligence is still necessary to spot red flags.
4. DON'T OVER-ROTATE
This was my biggest mistake in 2021. When you hit a 10x trade, it can be tempting to roll those profits into other altcoins.
But you're essentially playing a game of hot potato. Eventually, the market will turn and all your hard work is erased.
5. DON'T GET GREEDY
Extreme green days are actually great times to take some gains off the table. This way you're consistently replenishing your stablecoin balance, allowing you to take advantage of bull market dips.
6. DON’T FADE STRENGTH
One of the most difficult things to comprehend in a bull run is the insane strength the market can exhibit, and how long it can remain irrational.
7. DON'T OUTSMART YOURSELF
8. DON'T QUIT NOW
9. DON'T WASTE TIME
10. DON’T UPGRADE YOUR LIFESTYLE
