1/ How do you BTFD, take profit and not get rekt when #crypto is bearish?
In a bull market, you can take a lighter approach to taking profit (TPing) as TPing too aggressively can be counterproductive.
In a bear market, an aggressive approach works best.
How?
In a bull market, you can take a lighter approach to taking profit (TPing) as TPing too aggressively can be counterproductive.
In a bear market, an aggressive approach works best.
How?
2/ -- NEW BAG: CONSERVATIVE --
On new bags where I take profit conservatively my first objective is to secure initial investment (ii).
To do this I would take half my ii at 50% gain and the other half at 100% (from the start point). Strong resistance is an exception.
On new bags where I take profit conservatively my first objective is to secure initial investment (ii).
To do this I would take half my ii at 50% gain and the other half at 100% (from the start point). Strong resistance is an exception.
3/ -- NEW BAG: CHILL --
On new bags where I'm chill about TPing my first objective is still to secure initial investment (ii).
To do this I would take half my ii at 100% gain and the other half at 200% (from the start point). Strong resistance is an exception.
On new bags where I'm chill about TPing my first objective is still to secure initial investment (ii).
To do this I would take half my ii at 100% gain and the other half at 200% (from the start point). Strong resistance is an exception.
4/ -- CHILL VS. CONSERVATIVE --
I decide on a bag by bag basis which to use. Generally, I use the conservative approach but if it's a low market cap crypto, or a strong narrative that's pumping, like metaverse in October 2021, I will use the chill approach.
I decide on a bag by bag basis which to use. Generally, I use the conservative approach but if it's a low market cap crypto, or a strong narrative that's pumping, like metaverse in October 2021, I will use the chill approach.
5/ -- BEAR TP --
In a bear trend buying on the way down can be dangerous if you do not take profit aggressively. I've got flak for buying dips in a bear trend but as long as you take profit aggressively the odds of a favourable outcome are higher than doing nothing.
In a bear trend buying on the way down can be dangerous if you do not take profit aggressively. I've got flak for buying dips in a bear trend but as long as you take profit aggressively the odds of a favourable outcome are higher than doing nothing.
6/ -- BEAR TP cont --
Taking profit in a bear trend is vital because it allows you to average down your position as you buy the dip. Check out my #BFTD thread for a breakdown on dip buying.
Taking profit in a bear trend is vital because it allows you to average down your position as you buy the dip. Check out my #BFTD thread for a breakdown on dip buying.
7/ -- BEAR TP cont --
Buying dips without taking profit is inefficient. The best way to build a bag in a downtrend is to take profit aggressively and buy the next time price dips. Here is how I do it, many of these were shared on CT/Discord prior to my buying and selling.
Buying dips without taking profit is inefficient. The best way to build a bag in a downtrend is to take profit aggressively and buy the next time price dips. Here is how I do it, many of these were shared on CT/Discord prior to my buying and selling.
8/ -- BUYING A BEAR MARKET --
Bearish trends can turn into a full-blown bear market and rek you if you DCA.
So, in a bear trend, you should only buy good cryptos which you believe will survive a bear market. This is why I'm averaging into $PYR and $UOS.
Be picky!
Bearish trends can turn into a full-blown bear market and rek you if you DCA.
So, in a bear trend, you should only buy good cryptos which you believe will survive a bear market. This is why I'm averaging into $PYR and $UOS.
Be picky!
9/ -- JUST WAIT --
A counterargument is to just wait for congestion to buy. My counter is that sometimes price turns too quickly. I believe my approach has potential for more favourable outcomes.
If things dump too fast my approach will not lead to a favourable outcome.
A counterargument is to just wait for congestion to buy. My counter is that sometimes price turns too quickly. I believe my approach has potential for more favourable outcomes.
If things dump too fast my approach will not lead to a favourable outcome.
10/ -- BTC, ETH & MORE BUY LEVELS --
I share my buy levels in my analysis. Like I did with my recent $BTC, $ETH, $UOS, $PYR, $ROSE and $CHMB.
I share my buy levels in my analysis. Like I did with my recent $BTC, $ETH, $UOS, $PYR, $ROSE and $CHMB.
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