It's another month and it seems bitcoin and other major caps project are gaining momentum to start another crazy similar run of 2017 . Bitcoin tested 12k and was massively rejected and flash crash to 10.5k during the weekend, currently trading around 11k range.
The momentum is not is going down soon as everything seems fundamental about bitcoin adoption and Defi hype. I want to share some personal major mistakes new traders and investors make during Bull run.
**Don't FOMO: Avoid fear of missing out, every trade that goes upside sometimes makes corrections just like 12k-10k flash crash, learn to control your emotions over your trade and position, there is always opportunity to get in. You can learn to trade with fibonacci, it help you when to enter a trade and exit your position.
** Avoid over leveraging: If you are a Derivatives and futures trader, too much leverage may empty your account and get you liquidated. At most, 10x should be okay with your poison sizing.
**Never trade against the market: The trend is your friend, shorting the market isn't good for any trader during Bull except you have enough fund to cover your liquidation otherwise, you end will up with margin calls.
**Diversify your Portfolio and Position: During Bull run, some alts like ETH usually outperform BTC, do your own research and learn to have some position in some good Alt
** Take percentage profits at every broken resistance: Some BTC maximalist predicted 1x10^6/btc last year bull run, as easy as it sounds, btc was rejected around range 13k-14k range depending on the exchange.
No one can predict the actual price. Don't be greedy, learn to take some profits. I know that feeling when starring at your wallet and seeing some crazy profits but If you don't sell, others will do and leave your portfolio stagnant with blood.