$SOL The Recent Dip Has Hit Me Hard & Taught Me The Biggest Lessons In Crypto.
And even after spending more than 4 years (5 this spring) in the markets especially crypto and implementing a couple of strategies successfully, I started doubting myself and the crypto market.
But when I witnessed the whales getting liquidated in millions, I realised I'm not doing that bad, all I need to do is strategize on a few things again especially risk management.
So here are some key points you should be implementing right away
🔸Never take anything for granted, the market is unpredictable. You should always be prepared for the worst even in a full fledged bull market (which is miles away as of now). Greed is evil. So wait for your time, it will come.
🔸Focus on Risk Management. In fact this should be your top priority if you want to have a successful career, being a trader or investor. People make huge profits during corrections and crashes. Hedging is a great tool during dips.
🔸 Market demands sacrifice.
If you have developed an appetite to earn a million from the market, then you should also develop an appetite of losing a few thousands, at least $5k-10k. Even this is a huge sum for many, I know that, but the truth is always bitter.
🔸 Manipulation is at it's peak.
Now we all know how the new US Govt is manipulating the markets. Delaying the Bitcoin strategic reserve is nothing but clearing the path for centralized cryptos for their own benefits. Who perishes in the end? RETAIL.
🔸Last but not he least, always monitor the BTC.dom chart. This is the key for understanding the direction of Alts. It will make your life much easier.
Also, I think this dip hurts a lot more than FTX in 2022, because back then there was already no hope. People were so conditioned for a downside, they were already numb.
But this dip came when people still had hope of a big alt season.
Losing hope hurts more than losing money.
But things will change, not instantly but slowly.
I will always ignite 🔥 the hope to my fam.
Keep Hustling 💪🏽