I have been trading crypto like a madman for the last couple of months, but it was beyond reasonable last couple of weeks. I am barely sleeping and going out of my home and when I look in the mirror I can see my exhaustion. I even fell asleep while watching basketball today, which is a sign! I think it is all about the greed now because things are moving crazy just like it did in May and it feels like a crime to miss the opportunity in such a lovely market. However, we still have to have our targets even on the moon. We have to stay reasonable.
I, for once, already accomplished my target for this year with some added bonus, but still, I feel like I want more now. Yes, I admit that I am a greedy mofo but even I have targets. And I try to follow them. Because if I learned anything in the crypto world it is the fact that being sad because of lost opportunities will only make you lose more in the future. So, with the new alt season coming to town, here are some quick reminders how to survive in the market:
Not shilling anything, but I was it would be DGB for at least a couple more days
Understanding the chart is not yet enough. You also have to understand yourself and know if you can pull off some trades. I, for instance, am the worst at shorting and even when I know that the price is about to drop, I fail to execute those trades like a pro. Why? Because I am a positive guy and it feels bad to see something falling.
Take some rest. I am not doing that but I fully understand the importance of being full of energy and thinking straight. Whenever you are tired, you get emotional. Whenever you are emotional, you are doomed to fail. Do you want to fail? Well, then don't.
Follow your own plan which works for you. Copying others won't be helpful at all, believe me. Why? Because you will never know their full tactics and their way of thinking. As long as your plan brings you profit, stick to it. There is no need to change things while they are good, right?
Cut the loses. We all make shitty calls. Me especially. And let's be honest, none of us are happy without our shitty calls. However, you sometimes have a choice to cut the loses and get back on track or stick with your shitty call and continue your journey to bankruptcy. This rule actually applies in any life's situation.
Take a loan and go all in. Such parabolic profits won't last, so make the best out of it.
Don't be greedy. Think about how much money you want to make and make it. Don't try to become a billionaire. I mean, do you even want that? I need to make enough money to be able to go traveling without any concerns again so that I could pursue my dream of writing. And if that means that I'll need to sell my coins before their reach the peak, let it be.
If you thought that number 6 was a genuine advice, don't put your money into crypto. Actually, don't put it anywhere.
Enjoy the show because such revolutionary things don't happen very often. Win or lose, amazing things are happening in the crypto world right now. Observe those things. It will be useful in the future.
Remember that there are many other factors which can make your winning positions lose. For instance, my funds are currently stuck between Poloniex and Bittrex so I couldn't sell my coins even if I wanted to. And this stuff happens, so be ready for it. Crypto is still in the wild west stage and things get messy in the wild west.
Send me tips to this address: NahJustJoking.IAmNotSomeCheapPleb
Share with the world. I don't care if Christmas is coming or not, you gotta share with the world all the time. Don't keep all your profits to yourself. Go to some charities, donate, help people, smile, and be happy. Because otherwise, everything else has no meaning.