All success comes from learning!

10 Things to AVOID at All Costs If You’re Serious About ‘Making It’ This Cycle

Reminder

1. Don't FOMO

Most people get rekt in the bull because they FOMO into hot tokens on green days.

This leaves you more exposed during corrections due to an inflated cost-basis.

2. Don't rush decisions

Make money slowly.
Protect money quickly.

3. Don't over-rotate

Hopping from coin-to-coin is likely going to get you burnt.

Make sure you have conviction in all of your trades, so you're not constantly chasing gains on new, shiny objects.

4. Don't over-diversify

Concentration build wealth.

Diversification protects it.

I'm not saying to go all-in on 1-2 projects, but make sure you're not spread too thin either.

5. Don't get greedy

Crypto gains are paper gains until they're realised.

Make sure if you make money, you use it to actually get rich.

Go more risk-off as the cycle progresses, not the other way around.

6. Don't get complacent

If you hit a big winner, lock in some gains.

You could roundtrip sooner than you think.

I like to use an incremental (% based) profit taking system as price climbs, to ensure I'm consistently laddering out as opposed to trying to time the market.

7. Don't use leverage

Leverage is a tool to reduce risk (via increasing capital efficiency), not to increase it.

Unless you're using it with a clear purpose - avoid it all together.

8. Don't panic during flushes

Shakeouts are common during bull markets.

In fact, you should be using these as an opportunity to scale in.

The best Risk/Reward opportunities in the market are during bull run leverage flushes.

9. Don't lock tokens

I think many of us learnt this lesson the hard way last cycle.

Liquidity is key

10. Don't ignore OPSEC

- Don't keep all your funds in CEX utilize @Binance Wallet
- Store your seed phrase wisely

These are just a few tips, but just be aware of your actions and always maintain a sense of paranoia to keep you grounded.

I hope you've found this post helpful.

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