In this video I wanted to go over a few things to help you save money during this bull market. 

These are things I am doing because of the previous mistakes I have seen myself and other people make.

1) Have A Plan Going Into The Bull Market

2) Move Your Assets To Places Where It Can Be Sold Quickly

3) Limit Emotional Decisions

4) Have Some Context On Where The Overall Stability Of The Market Is Based On Recent Growth

Remember: “You will never lose if you take profit!” 😄

Do you like the new 0 Percent wrap on the Urus?

 

What is going on YouTube! I want to show you the new zero percent mobile i just got it wrapped you guys don’t know what zero percent is it’s the type of interest we get clients on debt so we help entrepreneurs start and scale with low interest capital and we just got the urus raft let me know what you think about this puppy in the comments section below do you like the white or do you like the matte black and the zero percent mobile.

I’m kind of pushing towards the mat black but that is what three and a half years looks like of not wasting time right you guys can have this too if you actually focus on things that actually matter educate yourself and then take massive action so let’s go ahead and jump onto this video what I wanted to go over is we’ve got some explosive growth coming in crypto but a lot of people make a lot of mistakes.

I’m going to go over a few things that are going to help you likely save a lot of money during this bull market it gets extremely explosive at least it has historically and that can provoke a lot of emotions and also you can just not be set up correctly and I’m going to go over quite a few things that I believe are going to help you immensely because these are things that I didn’t do in 2017 that you can now do in order to have the highest profitability during this time period all right so let’s go ahead and jump into the first one the first thing is you have got to have a plan.

So you need to go into the bull market having a plan with your current crypto holdings saying hey what like assets and percentage of my portfolio do I want to be in each asset based on your risk tolerance and your goals and then you need to you know figure out hey what how much am I actually going to sell of each asset right so you need to find out the percentage that you actually want to get rid of if you’re selling 100 it makes it very very easy.

I should have my seatbelt on come on why didn’t you tell me oh so once you have the percentage that you want to sell you know exactly how much you want to sell of each asset then you need to figure out what price points do you want to sell these at now I just did an analysis it took quite a while of my entire crypto portfolio and I am selling about 60 of my portfolio once we’ve reached certain price points now I did not base this based on how much money I want to make because the market does not care how much money I want to make so that’s one major mistake is don’t be basing your price points and target prices on what you want to make because again the market does not care what you need to be looking at with each asset is look at okay.

Well first of all where do you think the overall total crypto market cap is going to go and then what percentage of that total crypto market cap do you believe that your asset or each select asset is going to have and then you can find out okay I think that I believe that the market cap could reasonably go between these levels and then you need to sell percentages of that asset on different levels so like I have like a a best case a worst case and then like a medium case in which I’m selling different percentages so my best case is my highest price target for each asset my mid case is like okay.

I believe this is very reasonable and then my my bottom case or worst case is like there’s there’s no chance that it does not hit this price point during this cycle so I’m gonna be selling 30 of my first price target I’m gonna be selling another 50 of the middle target and then another 30 of my highest target and if you want to know my exact targets my exact portfolio I share all those things down to the penny in one of our crypto groups called the IC.

It’s right below you can find out a link in the description below if not go into the bull market regardless if you you know are in our groups or not you need to go in having an exact strategy an idea of what you’re going to do with each asset because if you just go in to the bull market and say you know what I am just going to sell this when I think the price gets high like you’re not going to sell it when the price gets high because you’re going to be in the moment getting emotional saying oh I think the price is going to keep going or we’re in a super cycle or the crypto market’s going to 20 trillion right and it’s already at 10 trillion like there’s got to you got to have a plan going into it.

I’m telling you you’re going to get wrecked my next suggestion is to start moving your assets to places where it can be sold quickly so like I had a decent amount of assets like on voyager there was earning interest I had assets on Nexo Celsius like these different platforms that aren’t really primarily exchanges because what’s gonna happen is when there’s a lot of volatility in crypto a lot of these exchanges literally like shut down because there is so much volatility and they can’t handle it and so if you don’t have limit orders set so like like I just talked about all the price points I have and price targets.

I have limit orders set on all those those positions which will sell even if the exchange is going like the the user interface goes down a lot of sell limit orders will still sell if price does go past those those price points so number one setting the sell limit orders on exchange first and foremost but secondly making sure that your assets are in a place where they can actually be sold you do not want to have them on an ill liquid exchange where all of a sudden the whole exchange shuts down.

You can’t move your assets off of it like for example voyager I love voyager because like I just keep assets there and it just literally pays me and it’s some of the highest interest that’s on a you know reputable interest bearing account and the problem is though it shuts down all the time and it takes over 24 hours to get your funds off of it similar to like block fi and if you go through like if you start to get into late December or whenever we do see a cycle top and you wait to then move your assets to an exchange who knows how long it could take you to get those assets off the exchange and it could really make you very very frustrated.

So like put your assets in a place where they can be sold start to put some like sell limit orders in so that you’re in a good spot when the market is appreciating at record heights which is likely to happen I’m telling you like the last few weeks of the bull market it’s like hundreds of percents gained so you wanna have it somewhere where you can make moves quickly and and make them automated as well by setting those settlement orders my third suggestion is to limit emotional decisions this is probably one of the most difficult times and I’m telling you when you go through this bull market.

If you have not been through one where you see your portfolio like triple and then you you know subsequently see it go down by 80 if you’re not selling anything or locking in profit it gets provokes a lot of emotion I’m telling you you’re gonna like your heart is going to be racing and what you need to do is go into the market with like a thesis that is based on data and have some obviously like I just mentioned some type of a plan going into it and you need to do this and have data that backs it and stick to your plan because if you go into it without a plan you’re going to have a lot of emotion in the market and you’re going to make emotional decisions and the more you make emotional decisions with your investments the more that you’re going to lose.

So you limit those emotional decisions by watching the video that I have in the link of this description so I went over five different indicators in which you can actually use and it’ll be at the end of this video as well that you can actually use to time the top of the market and I think actually I think I went through six of them and four of them are completely free so literally use those indicators that you can see in real time for 100 for free use those indicators to make the decision on when you want to sell the last portion of your portfolio or whatever do not do it based on how you feel in the moment because I’m telling you you’re going to have a lot of emotion and the more you use emotion in investing.

The more you’re going to lose and the fourth and last thing I would advise you to just have some context to be honest because I mean crypto has explosive gains like if you guys were buying at the beginning of 2020 even at the beginning of 2021 you likely have hundreds of percent gains if not thousands of percentage gains and a big mistake that people make is just being way too greedy they’re just way way too greedy with their holdings they want to have oh I want a ten thousand percent gain instead of a thousand percent gain if you compare crypto to any other asset class it is not even close as far as the percentage gains like it’s insane so have some context of where you’re at where your portfolio is and I’m telling you if you remember anything remember this you will never lose if you take profit okay.

You will never lose if you can just get yourself to take some profit so if you’re up I’m telling you just take some freaking profit all right especially if you’re in the thousand percent gains like it is so greedy to try to keep pumping that higher and higher because at the you’re going to lose at some point if you get too greedy so lock in profit again remember that if you take profit you’re never going to lose all right so even if you don’t want to sell all your portfolio that’s completely fine you can sell a percentage of it and do very very well what I recommend is at least pulling out your principal right.

So if you’re like one of those long-term holders that just wants to like hold that’s completely fine you don’t want to look at charts all that stuff just literally all you need to do is take your principal out so let’s say you put in a thousand dollars into crypto and it goes to 2,000 or whatever or maybe 3,000, 4,000, 5,000 all you need to do is sell a thousand dollars of it so you take your profit out which is gonna it’s gonna give you that peace of mind to be like oh man okay.

I got my money back and now you can be less emotional because you realize I you got nothing to lose really you’re playing with house money okay so at least take your principle out and have some context of like how ridiculous the market is growing and I’m going to leave you with one last thing here I’m about to go on a run before the sun goes down I go up 11 floors before I park my car that’s the condo life in Miami but the last thing I want to leave you with I unfortunately I do believe that we are we’ve got some dark times ahead of us and I’m not saying that to to scare you just on like an invest investment basis.

I do think like we have large correction like recessions if not depression’s coming if you study like long-term debt cycles they happen every 90 years and we have not had one in 90 years so go study some stuff from Ray Dalio you can also look at all the money that we’ve been printing we’ve just artificially pumped up the markets and like they’re starting to slow down the money printer they’ve said that they’re likely to raise rates into next year which is likely to have a nice sell-off in the stock market and you can just tell I mean everything is just super shaky and I was talking to a a fund manager the other week that has over a billion dollars of assets and they literally took their entire billion dollar stock portfolio to cash and are have you know two year options on the market.

So I’m just saying I do I do think that things are highly overvalued you gotta realize when things sell off like when stocks which by the way we haven’t had it happen before crypto literally came out after 2008 so like we have not seen an actual massive sell-off besides the pandemic when we had a liquidity crisis and the thing you got to realize is crypto is highly speculative okay so what happens when there’s a bunch of fear and a bunch of people selling all their other investments what happens is they will sell the crap out of their speculative investments because they’re speculative because they have more risk so like the speculative investments will just get absolutely destroyed and crypto is still a speculative investment.

It just it still is because the technology has not had enough time to catch on to all these other industries and blockchain still very very new and many other things it’s likely to be different maybe into the next cycle but realize it’s still very speculative so if we do have a correction which I do think is going to happen next year once again not trying to scare you or spread spread fud but I can tell you that it’s you would be happy if you took some profit not financial advice obviously I can’t tell you what to do but I’m just letting you know what I’m doing and what I’m seeing and if you look at like debt to GDP.

We are well above 100 death of GDP which means that we’re spending more money on debt than the country is actually producing which is you know scary metric all right if you got value from this video let me know in the comments section below and if you get consistent value I greatly appreciate you hitting the like button and subscribe to the channel it’s completely free and I spend a decent amount of time on these videos to give you some of the best information possible all right hope you have a great morning evening afternoon wherever you’re watching from and I’ll see you here on this next video.

Published On: October 21, 2021 / Categories: How Tos / Tags: , , , , /