I made about $5m (after tax) in the 2021 crypto cycle.
I'm currently at about $25m (+/-) w/ a target of $100m by early next year.
I basically went to cash in late 2021 (the top) and stayed in cash for about a year. This was really hard, because you need to fight the fomo. Cash is a position lol.
Then FTX went down in and I bought about $1m of $GBTC. The benefit was Grayscale was trading at 50% discount to nav, so I basically bought btc at $9k, at peak fud. This was my first position.
My second position was $NVDA. Basically I tried ChatGPT and quickly realized (like most) Nvidia was the play. I put about $1m into shares + calls.
Finally, I needed something that was peak risk (crypto) that fit the narrative (AI). I put the rest of my cash into $TAO. This was my third (and last) major position.
Here are some thoughts.
- I was only able to buy NVDA because my GBTC position had doubled and that gave me a lot of confidence.
- I was only able to buy $TAO because my $NVDA position doubled increasing my confidence further.
- I (still) feel like AI is a VERY powerful market narrative.
- The market wealth that AI generates at the top (NVDA) will cascade down the risk curve (crypto) before this bubble ends.
- Liquidity is overrated.
- Doing nothing is underrated.
- Risk is a ladder.
- Unrealized gains are not real.
- Conviction is your own.
I may or may not make it to $100m, but I have executed pretty well so far. My nw swings like $1m up/down daily at this point lol. If you can't be fine losing $10m (i lost more over the last 2 weeks), you won't ever make it to $100m.
Money isn't real, it's a mindset.
Position Building 101
Here’s the kicker.
Many people will have spent days being well disciplined and exercising good risk practice while establishing positions.
Then a green day comes along and suddenly WHAM they up their sizing because they think “this is it we’re going up.”
That’s not to say we won’t, but by over adding and throwing your principles away on a green day you can quickly find yourself undoing a good couple of weeks work prior if we end up trading lower again.
You have to maintain that discipline throughout, even in the days the confidence levels will soar because your portfolio is benefitting from your approach.
If significant resistances above us are reclaimed you have another trigger.
Adding to strength is fine, in fact when you have a base position established it’s actually better because you’re on the right side of momentum again.
Keep up the discipline and you’ll have a wonderful relaxing summer (pending green markets)
@cumenobinance @cryptomaticss@RookieXBT@icebagz_ Update: rookie just liked my reply 3 weeks ago lmao I'm sorry rookie. It's a shameless reply but I holded and even bought more near bottom and I'm up huge cuz I liked this community and the coin; and you were right. I'm winning but I concede my defeat - big L for me on you bro
you want some new exposure?
original. dope chart. political narrative. Olympics in July.
elections in November. the greatest country in the world. war gonna dump us? bro check ticker
study patriotism
study $USA
your favorite influencer will shill this in due time