At the top of the last bull market, I turned $1,000 into $130,000.
Then I dropped to 8k.
By the end of the cycle, many will have achieved over 100x returns on their portfolios.
But most people will lose more than 90% and make many mistakes.
Knowing how to avoid these 12 mistakes means being 1000x ahead of the game
🧵👇
$BTC is reaching ATH every week, $ETH is growing, alternatives are proliferating, and the bull market is in full swing.
I've been through 2 cycles and know exactly what to do to achieve this, I actually made $2.5 million this year from $8000.
I think you all are making money now, but most people are not going to lock in that profit and end the cycle with $0.
What led you to do this?
Greed, of course, leads to these errors:
✧FOMO
✧No lock-in of profits
✧Do not use stop loss
✧Does not reduce losses
There are many other mistakes that will lead you to REKT if you don't know how to avoid them.
1/ ➮Dive into your favorite stories and harness them:
✧To make money, you need to identify trends early. You can find 3-4 narratives you like and focus on them
✧Make it simple, find the trend -> Invest % of your portfolio -> Get profit and start new investments
2/ ➮Narrative rotation
✧Remember that now we are in a bull market and the narrative lasts longer due to increased liquidity and traffic from new users
✧So, take your time, determine your goals, and then move on to the next narrative
3/ ➮Some good narrative (more like tips than suggestions)
Here are some great narratives from the 2024 cycle:
- AI
- L2/L1
- memes
- Game Philippines
- ERC 404
- RWA
-BRC-20
This is the foundation that should be grasped first.
4/ ➮Momentum weakens
✧You are waiting for the pump. The 100x move happened and you missed it, then you wouldn't buy it because it's expensive right now, and it's the 100x move because we're in a bull market
✧Don't think about the moves you missed in the bull market, focus on the rise.
5/ ➮Fixed profit
✧You must have a goal before buying something. Keep your body on target and keep increasing your profits.
✧Then it will be psychologically easier to hold because you can't lose anymore.
6/ ➮Stop loss
✧You always need to set a stop loss, especially when trading alternatives
✧You may believe in the project 100%, but if the market turns, it will hit bottom
✧I will not risk more than 1% of my entire portfolio on one trade
7/ ➮Simple Portfolio
✧Write all your investments and profits and losses on the form.
Make it like this:
- Long-term investment - Investment amount (IA)
- Small Cap - IA
- Your bet in the first narrative - IA
- Your bet in the second narrative - IA
8/ ➮Encrypted space
✧The crypto space does not end at X, there are many different social media such as YouTube, Tg, TikTok and Reddit
✧There is a ton of interesting information about cryptocurrencies that you won’t find here, so be open to new communities, spend time there and improve yourself
9/ ➮Life changing (10x is also a good profit)
✧My biggest loss is here. You make 10x, then feel like you underperformed, try to catch up to 100x, and lose all your profits
✧Remember the fixed profit (which means putting it in the stable) and then try to catch more
10/ ➮Make notes and rules so you don’t repeat mistakes:
✧No one is perfect. Failure is okay, but repeating mistakes is not okay.
✧So if you lose something, great, learn your lesson and move on
