My mistakes cost me life-changing wealth last bull run
I don't want the same to happen to you.
I genuinely believe that if you follow these lessons, it's almost impossible to mess up next cycle.
đ§ľ: These 10 lessons will give you a massive advantage in the bull run.đÂ
We put a lot of research and work into this thread before reading it. đ¨ Very Important : đ¨ Please follow @Coinaute and â¤ď¸ Like + Comment and âĄď¸Â Share this post đ
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1ď¸âŁ. Invest in projects that retail can understand, not just the tech heads.
Retail doesn't care about the latest ve ZK interoperability L3 aggregator.
They buy narratives that they can get their head around.
Think simple. Memes. Gaming. AI. etc.Â
Of course, there is a place to invest in great infrastructure and technology if the tokenomics are conducive to value creation.
But when building a core portfolio, it's important not to outsmart yourself - keep it simple and anticipate trends that retail will get behind.
2ď¸âŁ. If there's blood in the streets, don't flinch - just buy.
Time and time again, when sentiment is at its absolute worst - these moments prove to be the best opportunities to accumulate.
3ď¸âŁ. Don't become a rotatoooor.
I get it. When your bag isn't moving and the shiny coins are pumping, the temptation to rotate your current bag into a new position is strong.
But this is a big mistake.
Recklessly rotating is a surefire way to get rekt.Â
There's a super easy fix to this.
Journalling.
I outlined a strategy to do so in a recent thread.
4ď¸âŁ. Niche down.
I'm a big advocate of diversification. But too much attention diversification can prevent you from gaining an edge.
It'll be way easier for you to establish an edge if you become an expert in a specific niche.
Pick a niche that a) matches your temperament, and b) you're genuinely interested in.
Focusing on something you're good at and are interested in is way easier than trying to force it.
This may take some trial and error.
I like this post by @CryptoCred about finding an edge.
5ď¸âŁ. Never marry your bags.
Let your winners ride, and cut your losers.
This is a lesson many of us have learnt the hard way. I'm sure many of you "held the bag" too long during last bull run.
The market will always humble you and find a way to take your gains.Â
This is why it's important to establish a pre-defined plan, and exit when your strategy tells you to do so. Do not gamble for the sake of an extra few %.
Remember, altcoins are a great proxy to make money, but they aren't a great store of value, as history has shown.Â
This thread contains some valuable lessons for those interested in learning more about identifying narrative hype cycles, in order to get better entries and exits.
6ď¸âŁ. New coins tend to outperform their older counterparts.
Why?
⢠They don't have underwater bag-holders from last cycle who are looking for an exit
⢠Their circulating supply is much lower, leading to more explosive pumps
⢠New projects often improve upon their predecessorsÂ
Now this isn't to say older projects can't perform well. There is something to be said for teams that have been building throughout the bear market, and have an existing loyal community.
But, make sure to set some dry powder aside for new protocols.
7ď¸âŁ. Focus on strength, not laggards.
This lesson applies more to the traders than the investors.
Instead of trying to buy a laggard âbecause it has not pumped yetâ, focus on tokens that exhibit strength and resilience in the market.Â
Buying weak tokens can present a huge opportunity cost to your portfolio.
Often time tokens are strong for a reason, and the market rewards strength - especially in the bull.Â
8ď¸âŁ. Optimise your social media.
There is legitimately great alpha across Twitter, Telegram, Discord and YouTube for free.
There is also a lot of crap.
In fact, most of it is crap.Â
If you want to be a successful investor, you need to control the information that comes in.
If you can filter this information, you can cut through the noise and extract pure value from these platforms.
9ď¸âŁ If you make life-changing gains, don't forget to actually change your life.
During peak bull, I was sitting on multiple house deposits in sh*tcoins.
I was convinced all of them were going higher.
And although some did, I gave up most of my gains. Welp real estate portfolio.Â
Although I don't think anyone should expect to time the top exactly, remember to take profits on the way up.
Even if it does end up being premature, you will rarely regret taking profits - especially if the sum is materially "life-changing".Â
đ. Prioritise health over all else.
The bull market is super draining. In 2021 I was anxious and unfocused. This started to affect my decision making.
Make sure you're staying on top of your health (exercise, diet, sleep) at all times, but especially during this period.Â
I even find in my life now, on the days I smash a good workout, sleep well and practice mindfulness, I'm way more productive when it comes to working.
So even though you feel like it may be a "waste of time", it's worth it - and your net productivity will likely increase.Â
I hope you've found this thread helpful.
I genuinely believe that if you follow these lessons, you will multiply your chances of success next bull.
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