Note to self: Read this "Note to self" in the bull run

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Help reblog this, please...

In my last post, I was mulling over confirmation signs for market bottom through DXY and mortgage loan interest tapering.

Deep inside I was really worried that the market rebounded too quickly. Not because I have not accumulated enough, but because I have not finalized an action plan for the bull run.

This is a serious matter because bull run can make people dumb and lose all that is gained very quickly.

I desperately need a "Note to self" to remind myself in the bull run.


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These are the points in my note (certainly not financial advice, but something that I think I need to do for your reference!):

  1. Take profit and lock it. Having a profit taking plan is important.

  2. Keep track of the overall portfolio allocation and rebalance regularly. This rebalancing should extend to ALL investment classes. Risky and speculative bets should be minimized.

  3. Ensure that there is savings for daily living needs, retirement planning and emergency FIRST. This safety net is the best predictor for holding power in case of a dip.

  4. Don't chase the green candle. Never with a lump sum fresh funds. This is FOMO!

  5. Diversify, remember Terra Luna went down quickly. Any project can fail overnight!

  6. The game plan is to take back the capital as soon as possible, and then let the profit run. Play with the house money.

  7. Don't trust token shilling "moon" talks by the YouTubers etc. They could be paid to pump the tokens.

  8. Keep the number of crypto tokens/projects under the rader and in the portfolio small. No more than 10.

  9. Keep greed and fear in check, always. Don't fear when the fear is showing in the fear/greed index. Ditto for greed. Train the mind to react differently.

  10. Set trading entry and selling price after thorough research and then leave it. Rinse and repeat.

  11. Be clear what are the hodling assets and what are the speculation assets. Weigh between the benefits of staking and liquidity. Liquidity may be more important in the bull run in case a sell is necessary.

Alright, these points seem haphazard. But they are worth revisiting and serve to guide my actions in the bull market. I shall chew on them myself and let it concretise.

Now I feel better, I have a plan that I think should keep me safe.

I seriously think everyone should have one of such plan. Why don't you write one and tag me on it so that I can read it.

P/S: This is not financial advice, and please do your own due diligence before investing.

If you read this far... and if you are a like-minded Hiver who is on the path to learning more about Hive and crypto investing, and if you like to be tagged when I write such posts, I welcome you to leave a comment below and let me know. We can form an alliance to support each other's growth.

You might be interested in this post, @graciousvic, @deflacion, @jacoalberts, @young-kedar, @svanbo, @sumotori, @zakludick, @poplar-22 and @hankanon!

What is Hive?

Posted Using LeoFinance Beta



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26 comments
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Great advice to self.

I made my share of mistakes during the last bull run. I hope to have learned something from them and make better decisions this time around.

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Yea, in the heat of the moment the mind will go berserk, so it will be important to lay out some plans in advance. !PIZZA

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(Edited)

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I love reading your article. It helps a lot especially newbies on what to do on the blockchain. It will be a reminder and a guide to all of us.

Thanks for sharing your thoughts.

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Thank you for reblogging it. I appreciate it. I am going to check out your posts soon! :)

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I am still exploring and learning the blockchain. Thank you.

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Good to have present it. You should mention: Don’t act with emotions; anyway you touch it when mentioned FOMO.

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That probably sums it up. Acting rationally is the key to success in this game! !PIZZA

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so is hive risky investment? what about splinterlands? or its safe as btc for you

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Everything is relative. I base it on market cap to determine the risk.

BTC is safer than Hive for the same reason. Slpinterland is riskier than Hive, I think.

To me, Hive is not risky, also because I am not putting a ton of money into it. This is relative to what I put into other things, of course.

!PIZZA

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Seems like a sensible plan to me. Each reader can fiddle with the parameters and details but generally this could be a good guide. I'll reblog it.

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Thank you, I appreciate it.

Knowledge is power. Hopefully rationality will prevail...

!PIZZA

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Number 5 and Number 8 go hand in hand: Do not put all your eggs in one basket but do not have too many baskets!

The concept of having eggs is that the eggs are indeterminate, thus the number of baskets are indeterminate. Rather one should think of legs on a table or increasing from four all the way up to ten, the pillars of a platform and the platform bearing your portfolio.

If one pillar falls, the platform stands. Each platform should be substantial.

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The key to happiness is moderation or balance. Says some ancient sage in the east... 😇

!PIZZA

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That number 9 point you made, now that is hella accurate... Greed and fear can be a big killer especially to those playing around in the markets👌👀

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hella true.

but it's hard to keep it in check still..

Seeing the green now makes me want to buy in.

I am just typing away on Hive to use up my energy so that I can't press the buy button! 🤣

!PIZZA

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Sounds like a solid plan. Now you have to act on it. Writing it down was the first step of better memorizing it, presenting it makes you commit to it more forcefully. So you're on your way. :-)

Are you sure we're already entering the bull run?

Posted using sloth.buzz

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of course...... I am not sure! 😆

But it depends on how we define it.

This is the daily chart for Hive/USD. That continuous green looks like a bull run to me.

Screenshot 2023-01-24 at 5.54.38 PM.png

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And it's still rising. You might be on to something. 😉

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I already have a laid out plan for making the most out of Hive now. I hope it rises well above $1 but even if it doesn't I plan to keep up with my savings plan!

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Surely as you say act rationally is the summary of everything.

I think one of the important things is to recover the investment and then play with the house's money, at which point everything will be calmer and it will probably be easier not to get carried away by emotions.

It's also true that there are people who get carried away by emotions regardless he eh!

Great post, very helpful!

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I think number one is the most important or at least one a lot of people tend to forget when in a bull run... taking profit when you can.
Number 8 I've learned being around in Crypto - in the end a lot of crypto are going in the same line. To diversify too much leads to loosing the overview...

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yea, the reason I wrote it is because I forget about them all the time!

having a list like that serves as a reminder.

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