2021 was one of the most impactful yrs i’ve had in crypto
I’ve matured greatly both as a trader & a person
Bc it’s the start of a new year, I figured i’d make a list of what I learned, both for future reference for myself & for those that are curious
🧁’s lessons from 2021…
I’ve matured greatly both as a trader & a person
Bc it’s the start of a new year, I figured i’d make a list of what I learned, both for future reference for myself & for those that are curious
🧁’s lessons from 2021…
Conviction > Rotating
You only have to be right once.
I know, it sucks seeing coins other than yours pumping 100% every single day.
But the odds you’ll catch every one, let alone do it consistently are very low.
You only have to be right once.
I know, it sucks seeing coins other than yours pumping 100% every single day.
But the odds you’ll catch every one, let alone do it consistently are very low.
Maximalism
Being closed minded cost me numerous opportunities to make wife changing gains in 2021.
Out of my own stubbornness & ego, I refused to invest in any alternative L1’s, convincing myself nothing could even come close to $ETH & missing out on 100x gains in the process.
Being closed minded cost me numerous opportunities to make wife changing gains in 2021.
Out of my own stubbornness & ego, I refused to invest in any alternative L1’s, convincing myself nothing could even come close to $ETH & missing out on 100x gains in the process.
Revenge trading
It plagues many of us.
I’d constantly compare their portfolio to what I had at its ATH & believe anything less than that is failure.
Every trade became an attempt to get X% closer to that magical number, leading to a downward spiral of the undesirable.
It plagues many of us.
I’d constantly compare their portfolio to what I had at its ATH & believe anything less than that is failure.
Every trade became an attempt to get X% closer to that magical number, leading to a downward spiral of the undesirable.
Networking
This place is a lot smaller than you think. Even though we’re all competing with one another, we’re all after the same thing in the end.
Surround yourself with intelligent individuals, & help out where you can.
What goes around comes around two-fold in this space
This place is a lot smaller than you think. Even though we’re all competing with one another, we’re all after the same thing in the end.
Surround yourself with intelligent individuals, & help out where you can.
What goes around comes around two-fold in this space
Step away from the charts
I get it.
When the markets are going absolutely ballistic, constant adrenaline & dopamine is pulsing through your veins & radiates from every green candle. You feel invincible.
Crypto is addicting, and if you aren’t careful it will get the best of you
I get it.
When the markets are going absolutely ballistic, constant adrenaline & dopamine is pulsing through your veins & radiates from every green candle. You feel invincible.
Crypto is addicting, and if you aren’t careful it will get the best of you
Remaining hesitant and missing an opportunity is better than pulling the trigger & being wrong
Often times I found myself aping into something I wasn’t too sure of out of impulsivity & FOMO.
99/100, missing out on a play has felt better than being on the losing side of a trade
Often times I found myself aping into something I wasn’t too sure of out of impulsivity & FOMO.
99/100, missing out on a play has felt better than being on the losing side of a trade
Leverage
Don’t do it.
It is the unfortunate truth that many newcomers in the market are forced to learn the hard way about trading with leverage.
Only the most sophisticated traders in the game are able to remain net profitable over a long time horizon using leverage.
Don’t do it.
It is the unfortunate truth that many newcomers in the market are forced to learn the hard way about trading with leverage.
Only the most sophisticated traders in the game are able to remain net profitable over a long time horizon using leverage.
Health
In the end, it’s all just numbers on a screen.
My greatest fear in life is to spend my youth working day & night trying to make as much money as possible, only to lie on my death bed 60 yrs later & realize its not what was important in the end.
Take care of yourself.
In the end, it’s all just numbers on a screen.
My greatest fear in life is to spend my youth working day & night trying to make as much money as possible, only to lie on my death bed 60 yrs later & realize its not what was important in the end.
Take care of yourself.
Composure
Don’t let the market get the best of you.
This market rewards only the durable of minds, and spares no pity for the weak minded.
If you ever start to think you should quit, then you absolutely should because this place isn’t for you.
Man up or get left behind.
Don’t let the market get the best of you.
This market rewards only the durable of minds, and spares no pity for the weak minded.
If you ever start to think you should quit, then you absolutely should because this place isn’t for you.
Man up or get left behind.
Get some sleep, seriously.
I know I’m not the only crypto induced insomniac here
Crypto runs 24/7, & sometimes it feels like you have no time to spare, else you risk being dumped on or missing yet another opportunity.
Sleep deprivation & $ on the line is a recipe for disaster
I know I’m not the only crypto induced insomniac here
Crypto runs 24/7, & sometimes it feels like you have no time to spare, else you risk being dumped on or missing yet another opportunity.
Sleep deprivation & $ on the line is a recipe for disaster
Dump or be dumped on
This one in particular became more relevant towards the end of 2021.
As the market as a whole grew more risk averse, the structure shifted dramatically.
Rather than aping anything & everything, traders had to be more methodical & take money when it’s given
This one in particular became more relevant towards the end of 2021.
As the market as a whole grew more risk averse, the structure shifted dramatically.
Rather than aping anything & everything, traders had to be more methodical & take money when it’s given
Just 𝘴𝘶𝘳𝘷𝘪𝘷𝘦
These markets range from periods of intense euphoria, to dreadful downtrends with little to no in between.
In both cases, over confident traders eventually end up giving it all back to the market.
Preserve your capital at all costs, & be patient.
These markets range from periods of intense euphoria, to dreadful downtrends with little to no in between.
In both cases, over confident traders eventually end up giving it all back to the market.
Preserve your capital at all costs, & be patient.
Don’t underestimate the power of the exponential in bull markets
While it’s simple math, the human brain has a hard time grasping the impact & power of exponential gains.
A 2x is great, but could you imagine a 25x? An even better question; Would you hold until a 25x?
While it’s simple math, the human brain has a hard time grasping the impact & power of exponential gains.
A 2x is great, but could you imagine a 25x? An even better question; Would you hold until a 25x?
Treat yourself
I used to be under the impression that I HAD to keep over 90% of my net worth in crypto, otherwise I risk missing out on the maximum potential gains.
This kind of thinking is a fallacy. After all, what good is any of this money if we have nothing to spend it on?
I used to be under the impression that I HAD to keep over 90% of my net worth in crypto, otherwise I risk missing out on the maximum potential gains.
This kind of thinking is a fallacy. After all, what good is any of this money if we have nothing to spend it on?
Contribute
We are all here bc we are passionate about crypto and want to see it succeed.
We are blessed to be living during the time period of what could be the greatest technological revolution in history.
You’ll be kicking yourself in a few years for not being more involved.
We are all here bc we are passionate about crypto and want to see it succeed.
We are blessed to be living during the time period of what could be the greatest technological revolution in history.
You’ll be kicking yourself in a few years for not being more involved.
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