Things I Wish I Knew When I Started Crypto [in-depth]
I love lists. They’re a quick way to spark value. But real growth? That comes from asking why.
1. Survive >
If you take a look at the growth of my portfolio, it happens in spikes. If you want continuous, buying Bitcoin 5 years ago and walking way, that's what it'll look like.
But there's moments where so much happens all at once. You're at the right place right time, or you conviction bets early are finally paying off.
It's your job to not burn money in between, work on other skills as things play out, and keeping your head on a swivel in the meantime.
2. Easy Mode VS Hard Mode
In the same lane, momentum and periods ripe for harvest are key.
Over time, you begin to feel these variables naturally in your gut. If it's the excitement that is happening crypto twitter, or simply looking at onchain volume.
Learn to play when the playing field is in your favor. It's homecourt advantage. This is when you want to play the game.
It's okay to spectate.
3. Avoid Burnout
Even though it is literally clicking a few buttons, you need to be in tip top shape mentally. I've made retirement money and then went on to lose it the following week.
If you're not sharp, don't be afraid to take a step back and recharge. You'll be much better when your mental space is clean.
It's crazy how much this is a mental game. I mean it literally is all mental. Take care of your physical health, it's a direct correlation. Don't listen to people who tell you otherwise.
Would you want to be rich and wrecked anyway?
4. Take Profit
Along this journey, what you thought was a lot of money a year ago is a lot less today. For some it may be the opposite haha. Regardless which direction you go, you'll never be mad that you took profit.
Even it means buying irresponsible things, sometimes that's better than gambling it all away.
Also I love Bitcoin, I like stables, but it's not truly real until you take it fully out into your bank, into your real life. Remember which identity is the most important.
5. You Can't Lose
You either win or you learn.
6. Always Be Learning
You can be a demon, but you never know it all. And why even bother to think that? There are so many great people, traders in this case, out there that are full of value. You may have thought of something one way, other legends will only help you get better.
Be accepting of that generosity. Still be confident with your skills though, they are not mutually exclusive.
7. It's Harder Than You Think
We see insane PNLs on the timeline. All of those are true. Even if the person posting is larping, that did exist for someone. It is all possible.
Cumulation of skills, luck (right place, right time), and confidence in your abilities and sizing.
However, trading is a hard sport. You have to dedicate a lot of time, and energy into the game. To learn what to look for, to know what emotions you're feeling.
A lot of the time it's "do this, but don't do that."
The fine line, is very very thin. Our job is walk it like a tight rope.
Good luck, have fun! If you have any follow up questions, lmk!
things i wish i knew when i started crypto:
- you don’t need 100 coins
- you just need to hit 1 time
- liquidity is more important than iq
- not taking profit is a skill issue
- so is revenge trading
- you can sometimes win a revenge trade, but dont make it a habit
- don't marry the ticker, date the meta
- buying back usually doesn't end well
- sometimes it can work well
- trading is a fine balance between 2 opposing sides, you just have to be accurate consistently
- the money isn't in clicks, it's in searching for opportunities and holding
- exits > entries
- time in the market doesn't matter if you're not sizing
- price go up is the best technology
- ct will mislead you for engagement
- have a friend group that you bounce ideas off together
- avoid burnout
- every airdrop is free money, make it money
- survive >
- be patient
- if you’re bored, you’re probably about to lose money
- there’s always another opportunity
- but not always another bankroll
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