I am going to share some useful tips that can help you maximize your profits.
1. Don't chase 100x growth. Most cryptocurrencies will not grow 100x, even during a bull run.
If you hold every alt expecting a huge increase, you will miss out on opportunities.
2. The marketing teams of different projects are designed to manipulate you into becoming a forever holder. It's a cult. Don't fall for it.
You don't have to be loyal to the project. It's just an investment. If you are in the black and want to take profits, just do it.
3. Take profits on the way up. This means if you hit your targets, take a portion of the profits.
The reality is that fiat is better than crypto, for now.
4. Crypto is heavily manipulated. VCs will spend millions on marketing to convince you that the bull run will last forever.
you think you won't fall for this bait, but when you find yourself at the top, euphoria will take over and logic will fly out the window.
the solution is to surround yourself with sensible people who will remind you to take profits.
5. buy\download a portfolio management app.
just install it. during the race, everything gets crazy, and it's easy to lose focus
portfolio apps show all your assets on one screen, which makes life easier and further analysis.
6. soon projects will start trying to cheat you with long locks with crazy percentages.
long locks are a scam. you will be cheated if you close the deposit more than 12 months from today.
long-term positions with locking are only beneficial to the project, but not to you.
7. there are cryptocurrency teams that are creating several common blockchain products.
when they see something like NOT Coin take off, they can create a clone in a week because 75% of the overall work is already done.
beware of any clones that appear a few weeks after a unique project explodes.
the only way to make money on them is to buy and sell within a day or two, but even that is a risky game.
8. when something doesn't feel right, it's best to quit. I ignored my gut instincts a lot last year, and most of the time it cost me a lot of money.
when you feel like things are going badly, quit.
hope this helps you.
