Miles Deutscher

This cycle, I'm already seeing people make the same mistakes that cost me millions in 2021.

I don't want you to waste this cycle too.

I'm begging you - it's not too late to change your ways.

🧵: My top 10 tips to help you navigate the hardest crypto bull run ever.👇

1. Know when to be risk on, and risk off

Never force a position.

During "lights off" mode your #1 priority is to survive.

During "lights on" mode, your #1 priority is to capitalise (and make as much profit as possible).

2. Build REAL conviction in a thesis before buying

If you find yourself less bullish on an altcoin because price went down - it's a sign you didn't build true conviction in the first place.

Tbh - there aren't that many high quality assets in crypto anyway.

For the rest, trade.

3. Define your trading vs holding split

Right now I'm sitting around 50/50.

50% allocated to high conviction positions (with partial invalidations), and 50% for trading (this sits in stables + a mix of short-mid term positions).

Your %s will depend on a) how much time you have, and b) your skillset/edge in the market.

4. ALWAYS have a technical validation AND invalidation for a trade

Fundamentals may change over time, but technicals are black and white.

By having pre-determined parameters (i.e. "if $SOL closes below x level for 2 consecutive days I will cut 50% of my position") you will save yourself a lot of pain.

You can always get back in on confirmation of a resumed uptrend.

I use a combination of HTF S/R levels + moving averages to form the basis of my setups - but there is nuance to how you execute, of course.

5. Set alerts

This is such low hanging fruit, but is something barely anyone seems to do.

Set HTF alerts on TradingView for your major holds/trades.

This way you will always know when something is approaching your de-risk (or TP) level.

6. Let your winners ride, cut your losers fast

Most people in crypto tend to do the opposite, because selling your losers feels bad.

But most of the time, you'll make a lot more money giving your winners space to ride (whilst TPing incrementally, of course), and cutting losers swiftly.

7. Don't rush decisions

Make money slowly.
Protect money quickly.

I still return to this quote often. 

8. Manage your position sizing in accordance with the risk of a coin

My blanket rule is I never put 5% of my portfolio into a single position, unless I have extreme conviction.

Your allocated weighting should be in accordance with the risk profile of a coin.

Higher risk coin = smaller weighting
Lower risk coin = larger weighting

9. Hold a maximum of 5-10 core positions (the less the better)

Holding too many coins has a bunch of unwanted side effects:

• Becomes impossible to manage invalidations/TPing
• Can't keep track of news/updates which may affect fundamentals
• Can't re-evaluate your thesis as often

The less coins you hold in your core portfolio, the better. You can still trade new coins based on technicals and new trends which arise, but you're not married to them.

10. Don't be complacent

Complacency is the silent killer in crypto.

If you have an opportunity to secure profits on a pump, do it.
If you have an opportunity to de-risk a position fast, do it.

Speed and attentiveness matter a lot in a space as adaptive as crypto.

I hope you've found this thread helpful.

Follow me @milesdeutscher for more content like this.

Also, Like/Repost the quote below if you can. 💙