sDodo
@dodo_reviews
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I simplify understanding web3 projects. Founder @ZaidanClan. Dare, do & win.
Joined January 2022
98% of #crypto investors will lose money this cycle only because they won't book profits & wait for Valhalla! In 2 weeks, I spent significant hours thinking about my exit strategy, & here are my final thoughts. This might be the biggest altcoin bull run ever, so buckle the fuck up & set your priorities right. Like everyone else, I read multiple threads and saw many videos where people explained various kinds of exit strategies. But honestly, none of them gave me the assurance I needed, as these were highly dependent on many uncertain factors. No one really knows what the top will be. And if anyone claims to do so, UNFOLLOW & BLOCK them, immediately! They are either lying or delusional. This will be my second bull run, so I first laid out the mistakes I made in the last one which I do not want to repeat: - Getting overwhelmed by every single news story - these are generally to shake you out. - Investing in projects that are trending at that moment - Only early investors earn with 'trending' projects as they invest in them weeks/months ago through pre-sales and IDOs at a cheaper rate. - Re-investing profits without taking anything out - It doesn't mean anything even if you get $1M profits unless you take it out and make your life better with it. I re-invested all my profits, thinking I'll make my win bigger. - Taking trades based on crypto influencers - When you are new to any industry, you look for people to guide you. But trust me, 99.99% of influencers are working for their own bags and will do what is best for them. That's why it's important you find your own way, or at least find good people in the space. Yes, they exist! - Getting emotionally attached to projects - You are here to make money. The project you invested in is here to make money. The guy who suggested you the token is here to make money. And guess what, a long-term investor who swears to support the project is also here to make money. They will all sell when they get their desired profits. So don't marry your bags. You need to understand that not only our actions DURING the bull run will be important, but our actions NOW i.e., BEFORE the bull run is equally important. This will lay our foundation and will make us ready when the storm arrives! What steps am I taking to be ready for the bull run? - researching into potential narratives. - creating a brand for myself. - investing early in industry revolutionizing projects. - being part of the team (in my own capacity). - finding good people with similar interests & helping each other to achieve our goals. - creating an exit strategy before the bull run arrives. Now the most important part - EXIT STRATEGY. But first, let me explain what 'exit strategy' exactly means to me. For me, 'exit strategy' is when I successfully withdraw my minimum desired profits from the market. I may/may not hold any positions after this withdrawal, but taking out the minimum desired profit will be my FIRST PRIORITY. But how to decide what should be the Minimum Desire Profit? After debating hard with myself, I have come to the conclusion that 5 years of my current annual income will be my first priority in profit booking this cycle. This is almost 6.5x of my current invested amount. I understand this answer might be boring for some of you but it is what it is. I am happy with that & I won't bullshit you with any ridiculous targets. Now this target is my own & I'd suggest you all to calculate a figure, based on your invested amount, that will lower your financial stress for at least 2-3 years. This should be your initial target and priority. This target needs to be feasible & dependent on your past trade history. Study your previous trades. Understand your behavior in various situations, i.e. during loss/profit. And then take an informed decision. Few would say that I am underestimating the bull run and that my targets should be higher. Maybe they are right. Maybe they are wrong. I. DON'T. KNOW. But what I know is, I'd rather end up with some profits than hold tokens of some dead projects with the hope that they will rise from the ashes some day. When will I sell? All the way towards the euphoria stage and down. As I mentioned above, no one knows what the top will be. So it will be dumb of me to wait and time the exact top. It's a lose-lose game. I will sell every time I am making decent profits and reach my profit goal. This would mean booking profits at 50% for some projects and 2000% for others. I don't know yet and will decide depending on market conditions. I want to build wealth & attain financial freedom, and I am okay with doing it with patience & composure. Remember that you want to change your own & your family's lives. Don't let this opportunity slip away. Here are two accounts that helped me have conviction and composure during this bear market: 1. @CryptoNagato 2. @Sykodelic_ Here's a group I found that include good people and have similar interests as mine: Dark Serenity - You are there already. Just matter of time. 🦤
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@Oculus_Crypto @PropbaseApp Couldn’t agree more. Team never stops building. Fundamentals help us stay in peace during these bearish times.
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RT @dodo_reviews: During the peak bull run, number of people on centralised exchanges will be significantly higher than decentralised excha…
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@Lasse45_ @PropbaseApp Oh is it? I must have missed the memo. That’s amazing though! $PROPS run will be historic. 💪
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@MrBrondorDeFi @TheJadeCity The model is too interesting too ignore. And a cool way to earn airdrop 💪 $JCT
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None can teach how to navigate this market. It all comes from experience and willingness to learn from those experiences. I know I wasn’t good at trading. That’s why my strategy was plain and simple: - Buy and hold quality alt-coins Dips only make my conviction stronger. $ADS $DAG $PROPS $JCT $XCHNG $DMTR $LBM $CADAI $SLC
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@CBiliou1 @TheJadeCity Awesome. Yes, at least the peace of mind is there especially in times like these
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@daniarchibong_ @TheJadeCity Yes the gamified approach does make things interesting for the users 💪 $JCT 🔥
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Exactly. You should do both. AI + Crypto = Future @Cadaico is merging blockchain into AI and providing various services: 🔸 Assistants 🔸 Copilots 🔸 Agents $CADAI is already working with multiple German based engineering and manufacturing companies. Business is set, time to focus on web3 💪
If you’re in AI, pivot to crypto… …just kidding. You should do both. Work in AI, but save in Bitcoin. Because Bitcoin may hold value even when nothing else does.
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@BenJorgensen @Conste11ation @brian_armstrong @jessepollak Someone had to call them out. Hopefully we see a change soon! 💪
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