📈 Study DCA and stop rushing
The lesson I learned from the previous bull market is the importance of gradually taking profits from favorable market conditions by gradually extracting profits, rather than hastily closing positions during a sharp downturn.
Attempting to perfectly time the market by selling everything at once is a challenging task even for experienced traders. Therefore, applying the Dollar Cost Averaging (DCA) strategy both on entry and exit from the market can be very helpful if you want to ride the wave of growth without unnecessary nerves.
Even during bullish market movements, the market's trajectory is not always consistently upward; often, there are drops of -25% to -40% along the way, so you should have a plan for dumps. During sharp increases, you can repeatedly partially take profits but keep some money in the position.
During periods of sharp altcoin declines, like yesterday, it's important to be patient and selectively place limit orders to buy below. You'll be buying coins from traders who got liquidated due to entering at highs (where you gradually took profits).
This approach can ensure profitability regardless of market fluctuations. You calmly accumulate at lows with a large number of orders over a certain period and gradually sell at highs as the market grows. All within the context of the overall bullish trend.
🤷♂️ From my experience, this is the best strategy for new inexperienced traders who want to calmly and without FOMO profit from a rising market.
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