Thread by @sereja_chan

Big thread on lessons learned from 2017 bullrun, 2 years of a downtrend, a bunch of big liquidations, countless missed opportunities, and finally, some good profits generated applied to the current and future market. 👇

#Alphaleak

0/ TLDR:
1) Emotions
2) Mindset
3) Info-bubbles
4) Squad
5) Networking

1/ I'll start with emotions. Dealing with FOMO and FUD is hard. But you can learn to deal with both there more you face them and reflect on them. Crucial part is reflecting on them. Know when they start to change your behavior. Mindfulness practices helps a lot here.

2/ Mindset. It's really important to understand that there are 2 main mindsets in finance & crypto :
A) Investor mindset
B) Trader mindset

But it's even more important to know how to and when to switch between those two.

3/ Investor mindset works best in strong uptrends. It can become degen/chad mindset, but that's not bad, the market is still rewarding you for that. Funadmental analysis gives you best performance. Selling your winners early is a problem here.

4/ Another important idea is "following the herd" isn't that bad in the uptrend. You just need to be among the first. So it's really important to find these trends early and know where these trends are coming from. Choose your trendsetters wisely.

5/ In the current market must-follow people/companies here are @Rewkang @Arthur_0x @Daryllautk @Darrenlautf @mrjasonchoi @TheSpartanGroup @AndreCronjeTech @Delphi_Digital @MessariCrypto

They are setting trends now. This is not the full list ofc.

6/ But when reversal hits it's even more important to switch your mindset because if you don't do that you can be left behind with big valueless bags (me in 2017).In downtrends, even good projects suffer. You just can't go against the whole market. Which is still very tied to BTC

7/ I'm not calling the current correction a downtrend already but spotting potential HTF reversals is really important. BTC can go to 8-9k region and we will still be in an uptrend. But when the correction happens be sure to already be in Trader Mindset

8/ Trader Mindset is about making sharp trades, understand market structure, price action, volume, orderbooks, see the slightest changes in the market sentiment, keeping in mind ES, and global trends.

Goal here is to cut your losses early, have clear invalidations / take profits

9/ Risk management is crucial so preserving capital should be equally important as earning $$$. The great thing about Trader Mindset vs Investor Mindset is that you can earn money in both directions of the market. Also you don't stick you bias and flip it all the time.

10/ I've learned a lot about that during 2 years of a downtrend with countless liquidations but reflected on them and understood my mistakes. Nothing can make you learn from your mistakes better than losing money

11/ Thanks to @HsakaTrades @Trader_XO @trader1sz @CryptoCred @scottmelker @CryptoMichNL @BTC_JackSparrow and other traders OGs for sharing their thoughts and learning materials. Mustfollow. It's amazing how much you can learn from public resources if you know where to look.

12/ Info-bubbles. So by following all these people you creating your own info-bubble. It's really important to have the right people/channels in it. Of course, you can't fully relly on them all the time but if you build a good enough bubble you can spot things really early

13/ It's important to have diversity in your bubble. People with different biases, different backgrounds, different mindsets. But don't have your bubble too diverse so it isn't a bubble anymore.

14/ Squad. Build your squad, a small team of people whom you frequently interact with, bounce ideas, explore opportunities, analyze markets with. They should have similar values and you should work on the group dynamics to make it work.

15/ We were lucky enough to create our squad in early July and with help of each other, we made significant results. But more importantly - we made friends. And we had a lot of fun.

@0x_vadym @TheLastTriarius @VGataulin @kozlovone

16/ To understand squad dynamics better read this article on #Squadwealth by @hxrts @tobyshorin @lottiland

otherinter.net/squad-wealth/

17/ Networking. Build your network. Crypto is a 100% community-driven. Engage, contribute, and help this community grow and this will help you find the best opportunities. I would say networking was my best investment in 2020. Both with the squad and other groups.

18/ Thanks to this thread I expanded my network significantly and met a lot of amazing people from all over the world. I wrote down my thoughts -> contributed to space -> met people -> got opportunities

https://twitter.com/sereja_chan/status/1297056890309029888

19/ Through this process I met and started helping projects like @DeribitExchange @AndrasCaron @defidollar @shutterbugsid @atvanguard @dHedgeOrg @phenrikand @danieltbar @perpprotocol @tempofeng @1inchExchange @k06a @deacix @nat__top @prysm_xyz @tomscaria @realshelbyt

20/ It's amazing how far can you go if you contribute to the community. It always gives you back so you can give back to it more. Positive feedback loop.