During the previous bull run, I’ve made some wrong decisions that have cost me a lot of money. With the halving just behind us, we may enter a new bull run.Here are some tips for the next bull run. Deel free to add yours:• never sell your whole stack• never trade with your whole stack. not your keys not your crypto• if you have life changing amounts, you are a gambler if you hodl everything for bigger life changing amounts (lots of people have been thinking "i should have, would have, could have" everyday for the last year+)• scale out when the log chart goes parabolic, and your grandma and uber driver and katy perry are talking about bit coins. the difference between short term gains & long term gains is more than losing 90% of your principle. markets don't care about your timetable• take chunks of your profits out of crypto entirely & diversify, you can lockup a small percentage into defi and earn interest as a hedge to offset fomo• pay your taxes (optional?) and/or save money for a rainy day in fiat• set some low limit orders you don't think will hit on the way up and be patient• set some high limit orders on the way down to catch any fat finger trades• keep a few low orders on exchanges that still allow flash crashes and think of those as your reserves• don't ever talk to people about your gains• specify a strategy prior to the new bull run, including exit points and several levels at which you plan to sell parts of your stack• help newbies who will be attracted by the new bull run and don’t shill your own shitcoins
Submitted May 14, 2020 at 03:10AM
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