4 Practical Bits of Advice if you actually want to make money in crypto bull markets if you are new to trading (instead of jumping from latest trend to latest trend)
1. Follow your plan
Going into this market cycle — I was dead set on the four-year market cycle. As the market went on — a lot of vocal influencers pushed the supercycle.
I should have stuck 100% to my original plan but got caught up in the hype.
2. Tune out the noise
Crypto YouTube influencers like Benjamin Cowen and Willy Woo were most vocal.
They spoke of how technical analysis was outdated and redundant, and that on-chain analysis was the only relevant data. They spoke with such conviction that it made me doubt my plan and method of trading.
Hindsight is 20/20 — or as Warren Buffett says, when the tide goes out, we can see who was wearing their swimming trunks.
3. Trust your gut
The days after the crypto peak in May 2021, I could not sleep. I tossed and turned at night. I felt possessed.
I justified it as being down to sleeping in a new climate and bed, being in 30-degree weather, and sleeping on one of Malta’s busiest roads.
My subconscious was telling me something.
4. It’s about what you have when the dust is settled/ Don’t Get Greedy
It’s easy to compare yourself to the overnight millionaire teenager flipping NFTs. The trouble with that is it pushes you to make moves into an area you don’t have a competitive advantage in.
It’s not about who had whatever amount at the market peaks, it’s about who has the money in the depths of the next bear market.
Read this post and more on my Typeshare Social Blog