Bear Market Thoughts

Cycles

Bear markets are brutal, especially when you have bought tops and slurped dips on the way down. They never tell you that it is going down. Honestly most people don't know for sure, the best a trader can do is try to analyze his risk:reward. That is neither here nor there, we are in a bear and what can we do about it?

I cut my teeth in the last bear market. I knew very little, and while I still have much to learn, I was very green then. There were projects like ICX, EOS, and others that I bought at the top, kept buying as they went down, and just watched my funds shrink. I did not know how to read a chart well at that time, and I relied a lot on CT. This didn't work well for me.

No Education is Free

My father in law told me that once, he is a wise man. I lived this for the entire bear. I made some good moves too. One night a buddy and I were discussing how much potential a coin like BNB would have in the next bull market. So I bought over 100 of them at $6 (go look at BNB ath). I bought so many coins that would go on to print multiples, if I had done things right, I would literally be a millionaire today. LINK, TEZOS, RARI, ETH classic, and many more at near bottom prices. What happened?

OVERTRADING

Yeah, this is why I am running that series on it. I would get FOMO for the newest thing, sell this, exchange fees, Trade Ogre vapor (real ones know), just overtraded a fortune away. I did sharpen my chart reading skills, and by the time defi summer arrived I was sitting on a fat stack of ETH (this is for another time). My point is this:

After we find bottom, we will likely go sideways for a while, these are rough conditions to try to trade. I think there are factors that could decrease the length of the bear. These are just guesses though, and I could be wrong. What I intend to do now is just focus on strong conviction plays.

Buy Low Sell High

My strongest conviction play right now is Stacks, this is no secret. My approach is simple: I am going to buy at levels that I like until I reach a certain amount of STX. I am also leveraging a certain amount of STX via NFTs, and other projects within the ecosystem. I have my plan, a plan and the discipline to stick to it is imperative.

Avoiding High Risk Plays

I have been rugged many times in this game. At the time of this writing we are witnessing something that will be a part of crypto history with LUNA, and likely the biggest scandal since the Bitconnect scam. I am not going to mess with any of that. This is one of the reasons I like Stacks, everyone I have dealt with so far have been good, talented, people. I have beta tested some amazing products, and I see what is headed our way. The risk:reward in this play is super comfy for me.

Patience

The market will trend up again. This lull also allows the giga brained chads to do what they do best: build the contracts that will propel this space into the mainstream. I am fine with this, prefer it even. I am not going to try to play a sideways market again, chop kills portfolios. I am going to stack, learn, help this community grow, and write.

Chin up lads. We will get through this. One thing you have to remember, the market will always provide opportunities. You just have to find them. I found mine, I developed my plan, and I will keep my emotions in check. No matter what you do, keep this in mind: don't invest more than you can afford to lose, its ok to step away, and remember that no education is free.