Crypto Trader Who Made $3M From $8,000 Reveals How to Profit in Bitcoin (BTC) and Altcoin Markets
Following the 2024 Bitcoin halving, crypto trader @nobrainflip, who turned $8,000 into nearly $3 million by trading Bitcoin and altcoins, has shared 15 rules that guide his daily trading strategy. With the halving historically leading to new all-time highs for Bitcoin and an “alt season” within a year, the trader believes now is the last chance to enter the market before the next bull run.
Before diving into the rules, @nobrainflip emphasizes the importance of learning the basics and understanding how the crypto market works. “You won’t be able to just jump into crypto and blindly make a 100x profit without knowing anything,” he cautions.
The 15 rules cover various aspects of successful trading, from risk management and profit-taking to following narratives and using the right tools. Here’s a breakdown of the key points:
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Show more +- Fix Profits: Always secure at least part of your profits in stablecoins or fiat currency instead of reinvesting everything into risky assets.
- Be Focused: Concentrate on a few trends or projects instead of trying to study everything.
- Follow Narratives: Keep an eye on popular narratives and try to get in early, rather than chasing niche trends.
- Be Skeptical: Question everyone’s motives and agenda, and verify information independently.
- Use Essential Tools: Stick to a few essential tools like Etherscan, DeFiLlama, and CryptoRank for information gathering and trading.
- Expand Information Sources: Diversify your information sources beyond just Twitter, exploring Discord, YouTube, and other platforms.
- Learn the Basics: Educate yourself on how the crypto market works before attempting to make profits.
- Manage Risk Wisely: Build a risk management strategy based on your portfolio size, understanding that crypto involves inherent risks.
- Cut Losses: Set stop-loss orders and know when to exit losing trades to prevent small losses from becoming significant ones.
- Document Everything: Keep a record of lessons, mistakes, projects, profits, and losses to improve continuously.
- Don’t Overanalyze Bull Runs: Understand that projects often grow on hype, emotions, and speculation during bull markets.
- Understand Stablecoin Risks: While useful, stablecoins are not entirely risk-free, as demonstrated by the collapse of UST.
- Concentrate or Diversify: Focus on a few areas to grow a small portfolio, but diversify to preserve a larger one.
- View Gains/Losses as Percentages: Evaluate profits and losses as a percentage of your portfolio to maintain emotional stability.
- Persevere: With countless opportunities in the market, anyone can potentially make their first million by working harder than ever.
@nobrainflip emphasizes that following these rules has been instrumental in his success, turning a modest $8,000 investment into a remarkable $3 million profit through Bitcoin and altcoin trading.
Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?
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