sdbs
@sdbs
There's a lot of confusion in the market. If you're feeling confused right now, that's normal. Here are the top 5 mistakes you'd like to avoid👇🧵
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sdbs
@sdbs
1️⃣Long-term vs. short-term Don't let short-term emotions ruin your long-term portfolio. If you're bullish on cryptocurrency for the next 10+ years, like me, then these short-term moves don't matter. Zoom out and stick to your plan.
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sdbs
@sdbs
2️⃣Ignoring the impact of BTC It doesn't matter how good your project's fundamentals are or how pretty the price action looks. As long as BTC is in a steady downtrend, it will pull the rest of the market down with it.
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sdbs
@sdbs
3️⃣Catching the knife In an uptrend, prices always go higher than what many people think is possible, and in a downtrend, they go lower than what people think is possible. Just because an asset is down a lot doesn't make it a good buy.
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sdbs
@sdbs
Ask the 2017 and 2021 portfolio holders about this. 4️⃣No exit plan Dips are scary when you don't have a clear plan. There should only be 2 plans: 🔸max risk level when you exit and take a loss 🔸a fixing goal to take a profit
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sdbs
@sdbs
If you don't have a clear plan, you will always overthink things. 5️⃣Revenge trading This is probably the most dangerous thing you can do after losing money. The reality is painful to face, so people look for a short term solution,
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sdbs
@sdbs
usually with high leverage, to try and get all the money back. It never ends well.
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