Never Succumb To FOMO Or FUD

I'm firmly in the camp of those who believe in doing your research before a bull market and identifying projects you want to invest in and sticking to your plans.

Do not chase after coins on the move

First of all, by committing to that strategy you avoid having to get on board with a coin you see moving up fast. Chasing coins that everyone else seems to be chasing is a bad strategy because chances are that those coins have already been going up for some time when you discover them. It's best to buy into solid projects and just wait patiently for them to go up.

Patiently wait for your bags to gain in value

Secondly, in bull markets tend to lift all the boats. If you FOMO into one project from another, chances are the coins you sell will start going up after you sell them. A hot coin you have bought may enter a violent correction after you've bought it when the first crop of investors starts taking profits.

Avoid overtrading

Thirdly, swapping coins all the time makes for a complicated trade history with a lot of events and tracking to do. Calculating your taxes come tax season can be a nightmare if you're not using a really good piece cointracker/tax calculator. Many of them fail to account for swaps involving DeFi applications. By going back and forth between coins a lot can result in a painful and expensive accounting mess down the road. It's best to avoid that altogether.

Trade without emotion

Fourthly, do not let FUD or normal market corrections get under your skin. Study the history of past bull markets and listen to what modelers and analysts say and try and determine what the consensus of the best informed experts is. Each and every bull market is always followed by a bear market. Nothing goes up (or down) forever. That is basic market psychology.

Make plans and stick to them

Fifthly, make entry and exit strategies for each coin and stick to them. Try and find the market bottom and dollar cost average in. Figure out when the market is likely to top out and dollar cost average out. Don't beat yourself up for not achieving perfect results. Almost no one does and that is a mathematical certainty.

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