I consider myself a long/mid term trader, and I did quite alright in the previous bull market, however I did make quite a few mistakes as well, taking away from my bottom line.
In order to increase my odds of nailing the next bull, I've been making a plan of sorts, and wondering what you are doing to prepare to capitalize on a potential new bull market in the future.
Some items I've been working on optimizing:
-Set up watch lists of promising or fundamentally/technically strong projects to DYOR. Invest time in understanding projects before considering investing. Watch trends in price and wait for an ideal opportunity/dip.
-Set up risk management systems; Alerts for significant price movements, setting up limit orders/stop losses on positions. Etc.
-Perform security overhaul; clean install of OS on computer, set up wallets on various chains, and improve overall storage/tracking/custody of keys etc. Move funds into fresh wallets where possible. Set up 2FA/MFA wherever possible.
-Accumulate in long term portfolio, build positions in mid term portfolio, and set long/mid term take profit strategies. Identify projects with the potential for aggressive short term price swings in the event of a bullish rally for short term portfolio.
-Accumulate fiat in fiat mines to take advantage of strong price dips leading into rallies.
-Set up charts/monitoring system – metrics like fear/greed, sentiment, indicators on charts, social engagement/ SEO tracking, project rankings, tracking of fed meetings, etc. Etc.
-Set up social media watch lists. Procure quality lists of influential or alpha rich accounts on various platforms.
-Login to YouTube and unsubscribe from all crypto related YouTube channels – especially BitBoy.
-Create a second burner YouTube account, go to bitboys channel, subscribe, and then immediately unsubscribe again to reinforce the previous point.
Well, that's basically what I've been working on. Alot of my strategy involves trading swings in price movement, so my plan is focused around tracking/reacting to the market quickly.
What, if anything, are you all doing to prepare for a new bull run? It will most likely be an opportunity that I wouldn't want to squander.
submitted by /u/DeeperBags
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