You aren't alone if you got rekt in crypto bull market.
Thousands burnt their money while others made millions.
Here are the 6 rules that future millionaires will follow:
(Scroll away if you want to get rekt in upcoming bull run again):
Thousands burnt their money while others made millions.
Here are the 6 rules that future millionaires will follow:
(Scroll away if you want to get rekt in upcoming bull run again):
Before we move ahead, letβs get some facts straight:
There is ONE thing that every crypto holder wants, and that is the arrival of a bull market.
In a bull market, you start to feel like a genius when you see your portfolio flying by double-digit percentages in a day.
There is ONE thing that every crypto holder wants, and that is the arrival of a bull market.
In a bull market, you start to feel like a genius when you see your portfolio flying by double-digit percentages in a day.
But still you never know when you might get rekt. Now letβs dive in:
1. Take profit. Take profit. Take profit.
I always remind my audience, and I'll remind you once more: Make sure to cash in on your gains.
It's not enough to have value on paper; you need tangible gains.
1. Take profit. Take profit. Take profit.
I always remind my audience, and I'll remind you once more: Make sure to cash in on your gains.
It's not enough to have value on paper; you need tangible gains.
In a bull market, people get swept away in promises of 50x gains on top of already massive 100x gains, only to watch their hard-earned money vanish into thin air.
Maxis encourage everyone to hold their favorite coins, but remember that your goals and their goals are not the same
Maxis encourage everyone to hold their favorite coins, but remember that your goals and their goals are not the same
They have multiple sources of income, but you don't. You shouldn't take risks that make it difficult to put food on the table for your family.
Take profit and secure the rewards you've worked so hard to earn.
Take profit and secure the rewards you've worked so hard to earn.
2. Make a plan Your plan will keep you on track.
I know many people who started with $500 in 2020 and saw their portfolio go to $15k, waited for it to become $50k before selling it.
Guess what happened?
They are back to where they started.
I know many people who started with $500 in 2020 and saw their portfolio go to $15k, waited for it to become $50k before selling it.
Guess what happened?
They are back to where they started.
Why?
Because they didn't have a plan.
You need to come up with a plan to MAXIMIZE your profits.
For example, you can plan like this: Sell 15% after every 2x or 20% after every 3x
Whatever your plan is, religiously follow it to see results.
Because they didn't have a plan.
You need to come up with a plan to MAXIMIZE your profits.
For example, you can plan like this: Sell 15% after every 2x or 20% after every 3x
Whatever your plan is, religiously follow it to see results.
Now keep in mind that the plan shouldn't be only about making profits but also about buying tokens.
In every bull market, we see several 30%+ corrections before a blow off top, so incorporate that in your plan as well.
Remember:
If you don't plan, you plan to fail.
In every bull market, we see several 30%+ corrections before a blow off top, so incorporate that in your plan as well.
Remember:
If you don't plan, you plan to fail.
3. Don't over-leverage
Using leverage is valuable if you understand how to use it wisely.
Many people suffer losses because they take on excessive leverage based on positive news. When the price drops even slightly, they end up getting liquidated.
Using leverage is valuable if you understand how to use it wisely.
Many people suffer losses because they take on excessive leverage based on positive news. When the price drops even slightly, they end up getting liquidated.
If you're leveraging, limit it to a maximum of 3x. Additionally, always set a stop loss to make sure you don't lose it all.
In a bullish market, it's possible to multiply your capital by 20x without taking excessive risks, provided you invest in high-quality projects.
In a bullish market, it's possible to multiply your capital by 20x without taking excessive risks, provided you invest in high-quality projects.
4. Keep your non-traded funds in a cold wallet
If you donβt engage in active trading (day to day), it makes no sense to keep your funds on an exchange.
Keep those funds in a cold wallet and only transfer them when your target price hits so that you can sell them.
If you donβt engage in active trading (day to day), it makes no sense to keep your funds on an exchange.
Keep those funds in a cold wallet and only transfer them when your target price hits so that you can sell them.
Always remember this mantra: 'Not your keys, not your coins'. Maintain full control of your funds at all times.
5. Be grateful
People feel jealous when they see someone making $1 million in a trade while they are only making $1,000.
This is the recipe for disaster.
Jealousy will lead you to doing foolish things like over-leverage to make gains like them and you will end up with nothing.
People feel jealous when they see someone making $1 million in a trade while they are only making $1,000.
This is the recipe for disaster.
Jealousy will lead you to doing foolish things like over-leverage to make gains like them and you will end up with nothing.
Compare your growth with who you were yesterday. NOT with someone's today.
Remember where you started, and take inspiration from those making millions.
Remember where you started, and take inspiration from those making millions.
6. Educate, Educate, Educate.
Always learn new things about the market, no matter how the sentiments are.
Do your own research before putting money into something, because when it performs well,you will feel proud of yourself, and when it does not, you will learn something.
Always learn new things about the market, no matter how the sentiments are.
Do your own research before putting money into something, because when it performs well,you will feel proud of yourself, and when it does not, you will learn something.
And that's a wrap!
If you found this thread helpful, then hit like, share with your friends, and bookmark it.
Follow @sumitkaooor16 for more like these.
If you found this thread helpful, then hit like, share with your friends, and bookmark it.
Follow @sumitkaooor16 for more like these.
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