Hey everyone, especially all the newcomers here—I want to welcome you to this wild and rewarding space. I’ve been around since 2015-2017, watched the ups and downs, and even took a break in 2021 when I retired. But something about crypto pulled me back in December 2022 because I genuinely love this game and the community around it. So, as we dive into this together, I want to share some insights and advice that made a difference for me. Hopefully, it’ll help you avoid a few of the bumps I hit early on.
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Important Points
1. Risk Management is Key
This one is everything. I can handle losses because my risk management is rock solid. It’s a skill that takes time, but once you master it, it changes the game. Think of it like that piece of advice from your dad—it might not click right away, but when it does, it’s invaluable.
My advice:
Limit each investment to around 1% of your capital. Sure, you might go heavier on the big names like BTC, ETH, or SOL, but even there, remember that crypto is high-risk. Diversifying outside of crypto is a smart move too.
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2. Focus on Learning and Executing
Wins and losses are all part of the learning process. Don’t sweat it too much in the beginning—what matters is that you’re building knowledge and learning to execute well. The real goal is to win consistently over time. The skills and mindset you build along the way are worth as much as any short-term gain.
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3. Find People You Admire and Can Learn From
One of my best moves back in 2017 was connecting with people I respected in the space. Crypto is unique in that you can reach out to people from anywhere, so don’t be afraid to connect. Stay humble, be respectful, and people will often help out.
But a heads-up—don’t reach out with questions you could find the answers to with a quick search. Try things out, learn the basics, and then approach others with well-thought-out questions. If you’re looking for a community, join us at @Crypto PM
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4. Be Honest, Be Integral
Integrity is everything if you want to be here for the long haul. There’s a lot of fast money in crypto, but people who compromise integrity eventually crash hard (just look at Sam from FTX). Stay true to your values and keep your reputation intact—it’s worth more than any single win.
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5. Learn Basic Technical Analysis (TA)
Learning the basics of TA is a must, especially if you’re interested in optimizing entry and exit points. Even if you’re following others’ plays, knowing a bit of TA helps you make informed decisions. If you’re up 2x—especially on risky plays like meme coins—consider taking your initial investment out and letting the rest ride.
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Common Terms You’ll See Around
Cabal:
Refers to a powerful group of insiders or influential investors working together. For example, “Cabal coin” is a coin launched by influential figures who likely have serious backing.
Alpha:
Inside info or tips about a play. Not always a guarantee, but alpha often points to promising opportunities.
FOMO (Fear of Missing Out):
A common feeling when you think you’re about to miss a big opportunity. We’ve all been there. Sometimes it works out, but patience and timing are crucial—nothing goes up in a straight line.
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Anyway, I hope this helps you kick off on the right foot. I’ll keep sharing free content as long as I’m around, and if you’re serious about learning, I’m here to support you. Welcome aboard, and let’s keep building!
