15 rules for making money in a bull market
1. Unrealized gains are not gains
Keep this in mind and remember not to equate paper gains with actual gains. You can only get actual gains when you actually sell.
2. Avoid using leverage
High volatility plus leverage will expose you to huge risks, and greed will kill your profits. Don't use leverage lightly, even in a bull market.
3. Gradually reduce holdings
No one can perfectly time market tops, so make a plan to exit some positions in the first third of the bull market cycle, ensuring that some profits are left.
4. Be prepared for a dip
Pay attention to both upside potential and downside risk. Optimize your strategy to ensure you can withstand the worst-case scenario. Rare wealth opportunities require patience and resilience.
5. Look for asymmetric investments
Not all opportunities are equal, choose investments with a better risk-return ratio. The "upside potential" should be much greater than the "downside risk".
6. When in doubt, take the long view
Don't be fooled by short-term speculation, take a step back and look at the long-term trend. This better reflects the true direction of the market.
7. Be selective in your investments
There are so many altcoins, not every project is worth investing in. Most will go to zero after the cycle ends, so be very picky.
8. Keep your strategy simple
Complex plans tend to fall apart in times of market frenzy; keeping strategies simple tends to be more robust.
9. Be a big fish in a small pond
There are so many opportunities in the crypto industry that it is impossible to become an expert in every niche. Focus on the areas you are good at.
10. Without your private key, you have no cryptocurrency
Safety is the first priority. Even top traders may lose all their assets due to negligence in safety. Develop good wallet management habits.
11. Bet on the leaders
Retail investors tend to play the "catch-up game," which almost always loses in the long run. Winners always keep winning.
12. Be a team player
Investing requires cooperation. Lone wolves often make less money. Communicate and learn from other smart investors.
13. Comparing altcoins to BTC
Focus on altcoin performance against Bitcoin, not pure USD valuation. Your portfolio needs to beat Bitcoin.
14. The trend is your friend
Go with the flow in a strong trend, and it is only valuable to trade against the trend when there is a macro turning point.
15. Don’t get too hung up on your highest net worth
The market doesn't care about your profit or loss. Being too persistent will only blur your judgment. Seize the opportunity and accept the loss calmly.
The above are 15 rules of thumb for maximizing returns in the cryptocurrency bull market. I hope they will be helpful to you. If you use these suggestions properly, I believe you will be able to reap rich rewards in the next bull market. Come on!
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