1️⃣ HOLDING TOO MANY ALTCOINS
🚫 Error: Distributing your portfolio too thinly across more than 20 coins.
✅ Solution: Focus on 5 to 10 high-conviction coins.
🔍 Example: A small $1,000 portfolio spread across 30 coins dilutes potential returns. Focusing on fewer choices amplifies gains.
2️⃣ NOT HAVING PROFITS
🚫 Error: Holding the position for too long, waiting for higher prices.
✅ Solution: Set realistic sell targets and take profits regularly.
🔍 Example: Imagine a $10,000 portfolio dropping to $2,000 in a crisis. Don’t let greed extinguish your gains.
3️⃣ FOMO (fear of missing out)
🚫 Error: Buying coins that have already gone up.
✅ Solution: Accumulate quality coins before the hype, during sideways trends.
🔍 Example: Chasing a 300% increase usually leads to losses when the price retraces.
4️⃣ IGNORE NARRATIVES
🚫 Error: Betting on past trends or ignoring important narratives.
✅ Solution: diversify among leading narratives like Layer 1s, AI, gaming, #RWA, and DePIN.
🔍 Example: The DeFi boom of 2020 generated huge gains. Missing such narratives can cost big opportunities.
5️⃣ ACTING WITH EMOTIONS
🚫 Error: Buying out of panic or selling out of panic during volatility.
✅ Solution: Trust in research and logic, not in fear or greed.
🔍 Example: Selling during a flash crisis can lock in losses instead of allowing the market to recover.
6️⃣ NOT HAVING A PLAN
🚫 Error: Entering blindly, without entry and exit strategies.
✅ Solution: Write down buy levels, sell targets, and profit goals in advance.
🔍 Example: if $1,000 turns into $10,000, sell some and stick to your plan.
7️⃣ STORAGE IN CEXs
🚫 Error: Leaving funds on centralized exchanges.
✅ Solution: Use hardware wallets like Ledger/Tangem for secure storage.
🔍 Example: The collapse of FTX wiped out billions. Don’t risk your funds on exchanges.
8️⃣ BELIEVING IN ‘MOONBOY’ GOALS
🚫 Error: Expecting unrealistic 1000x gains.
✅ Solution: Use market capitalization, technical analysis, and fundamentals to define achievable goals.
🔍 Example: A token with a Market Cap of $1B is not reaching $1T. Be realistic.
9️⃣ IGNORE TAXES
🚫 Error: Forgetting to monitor gains and losses.
✅ Solution: Use tools like CoinTracker or Koinly to manage taxes easily.
🔍 Example: avoid penalties by anticipating tax payment deadlines.
🔟 NOT DOING YOUR OWN RESEARCH (DYOR)
🚫 Error: Investing based on exaggerations or influencers.
✅ Solution: Study whitepapers, use cases, and tokenomics before buying.
🔍 Example: Memecoins like DOGE can explode, but they have no long-term utility.
EXTRA POINTS YOU SHOULD KNOW:
🔑 TIME MANAGEMENT
🚫 Spending hours daily on price charts.
✅ Focus on developing skills like chart analysis, market psychology, or studying new narratives.
🎯 DCA STRATEGY
🚫 Buying everything at once during euphoria.
✅ Use Dollar Cost Averaging (DCA) to minimize risks and capture dips.
🚨 OBSERVING WHALES
✅ Track whale wallets to see where smart money is going.
🔍 Example: Whale purchases usually indicate confidence in a project.
🌟 CELEBRATING WINS
✅ Get small wins along the way — don't wait for "life-changing" gains to enjoy your progress.
🛡️ RISK MANAGEMENT
✅ Never invest more than you can afford to lose. Use stop-loss orders to manage downside.
📊 TRACKING YOUR PORTFOLIO
✅ Tools like Zapper or CoinGecko help monitor gains and rebalance portfolios effectively.