@tontheneko Nice I am excited to learn more. It would be great if you could give a tweet before starting the stream so I can get a notification to join.
Wanted to expand on a tweet i made earlier this week about how difficult it is for low port trenchers in these conditions. This tweet was geared towards the casual trencher, guys with a 9-5 who can’t afford to sit on the scope & twitter trackers 24/7
This was me this past year, thought i’d share some tips & the rules I followed to turn a lot into a little as a guy who had a full time job & maintained a regular social life.
I started with 1k in January and ran it to 1.2m at port ath’s*
1. Steer clear of new pairs. My most important rule was don’t ape coins that were less than 15-24hrs old. Of course there were some exceptions, but this eliminated a lot of garbage and increased my odds of success quite dramatically imo. If a coin was still alive after a day & the community was active, more often than not, entries were presented sub 100k. Not only that, it gave you time to do some further DD.
2. Forget tweet coins/quick catalyst plays, just ignore them entirely. If you don’t have a twitter tracker, you are competing against guys who are terminally online & are much quicker and skilled than you. Not worth the risk with a small port
3. Rather than sit on the scope, I would try to find memes myself on different social platforms. I’d set up a fresh TT account and scroll without bias, the feed would just feed me the most viral stuff.
-Few things to look for: New vids with a couple of hundred k likes. If multiple people post the same meme/event with that level of engagement, it’s a good sign that it’s going viral.
- Once you identify a good meme, then go to x or whatever app you use and search to see if a coin has been made
- When you find these memes yourself rather than relying on others or just seeing a random new coin on memescope, it’s so much easier to build conviction and hold longer
4. If you find something early and think it will continue to build, hold. Ignore chasing other stuff. 1k can buy you % of a sub 100k coin. 1% of a coin can change your life. Stop thinking you need to make the money TODAY, let it cook. Can’t tell you how many times i’ve cut positions to try to buy back and got burnt.
Social trading has definitely changed the game, and discovery is much easier, but I feel like the tips listed above gave me a good opportunity of success in such a highly competitive space.
That’s all, hope some find it useful. Again this is aimed towards people just entering the space or those who can’t be chronically online. GL