Talk about the most important thing to learn in a bull market: Position Management

For short-term trading, you need to set stop losses and take profits. If there is risk, retreat; if there is profit, learn to run.

For long-term investing, you need to set goals and expectations. Think about how high you believe the project can reach, especially if you have low-cost shares. The hardest part of long-term investing is the mindset because it’s impossible to keep pushing prices up. Each time the price rises, you need to shake out the weak hands and those chasing the price to continue moving forward. Can you stick to your investment strategy?

There’s a psychological hint: for example, if you bought SUI at $0.5 and sold it at $1, then it rose to $5, even if you think it can rise further, you don’t want to get back in.

Keep short-term and long-term investing separate.

For short-term trading, never play for the long-term. If you drop and don’t understand how to set stop losses, you’ll end up stuck, which is very painful. You were originally speculating, not investing for value. If it drops too much, you won’t average down; you’ll just cut losses.

Don’t turn long-term investments into short-term ones. You could hold for a higher price, but if you sell at the slightest rise and run at the slightest pullback, you will lose out. If you sell SUI at a $1 cost basis, you may never buy it back. So, you must learn to sell in batches.

In the secondary market, bull markets will always push prices up. So, manage your investment rhythm and prepare for long-term opportunities. Short-term trading must focus on hot trends.

Separate your positions: 70% long and 30% short. Short-term positions hitting meme hot trends can yield several times returns. Even in a bull market, always maintain the mindset of never being fully invested. Being fully invested is very passive.

For short-term trading, focus on hot trends and manage stop losses and take profits. For long-term coins, stick to the principle of doubling to recover your capital, and be determined to hold profits for over a year. Some may say they can recover their capital without doubling, but you need to cultivate a greater mindset, especially since many coins that rise significantly often face sharp corrections afterward. Doubling to recover capital allows you to continue seeking good opportunities or cashing out.

With a clear mindset, you can make money in a bull market. In a bull market, pursue ambiguous price points.

For example, fearing missing out, you think the pullback is almost done or that it’s at a relatively low position, but you’re also afraid of a waterfall drop. Buy a small initial position to feel the market; be brave to face losses. Only after getting stuck can you continue to add positions; otherwise, you may never get on board.

As a seasoned cryptocurrency investor, I freely share my experiences and insights. Interested in the crypto space but don’t know where to start? Follow me and check my profile to achieve freedom in this bull market.