Jack's Crypto Bear Plan

What a crazy week in the market. I am going to wait for the dust to settle a bit before I opine about the recent news. In crypto everything seems to move at a faster pace, this is certainly true of the current happenings. Out of respect for those who are down bad, I try not to say much in the moment.

Losing sucks. Being liquidated as a small time anon is a bad feeling. I cannot imagine when you are a renown giga trader, and as a bonus other people's money is on the line as well. I will say this, no matter what happens 3AC is a part of crypto history. They are also crypto bros. Right or wrong, I don't really have an opinion. I don't know enough facts to have an opinion. So I won't be badmouthing anyone. This is such an interesting time to be alive, I prefer to think about that.

The new guys to this cycle, largely rekt. I feel that too. I don't play with nearly the money I used to, most of that is the result of learning/discipline...but it is also because I don't have the stack that I used to. When you degen like I have degened you can make a lot and lose a lot fast. This is why I have adjusted my strategy. So lets talk about that instead

Before we go any further, none of this is financial advice. Seriously read my stuff, at the very heart of everything I put out here is knowing yourself. Your trading strategies have to be based on what you know about yourself. My process is still evolving as I learn, that is a big part of this game.

Concentrated Bets

One of my earlier mistakes with trading was overtrading. (I have covered this in previous post, check it out.) One of the ways I used to overtrade was to spread my stack between too many projects. Where if I would have just had 1 or 2, life changing trades. So my play is Bitcoin and Stacks.

Quality Projects

I have owned some quality projects, picked up 2018-2019. Sold too early on most of them. I have also owned a lot of shitcoins. I like the shitcoins because of the pumps. I am not as interested in trading volatility right now. Perhaps I will resume when I am not working fulltime, but definitely not this cycle. So I am focused on one quality project: Stacks

Stacks Strategy

Stacks is smart contracts on Bitcoin. This is not the time to have the primer on Stacks. Go follow Muneeb.btc , follow the people he follows. Introduce yourself to the community. Its a great community full of cool people. This is more of a trade journal for ole Jack here, helps me keep my trading plan and check my bias.

So my strategy for Stacks has been pretty simple. I buy at levels I like; my highest being $1.56, and my lowest $.33. I have made mostly small buys, on the dip to $.44 I was able to make my biggest buy. I have taken a portion of that and used it to Stack for Bitcoin, and City Coins. The majority of my Stacks has gone to NFTs. I will continue to follow this plan throughout the bear.

NFT Strategy

My Bitcoin NFT strategy is pretty simple. I believe I am very early on Bitcoin NFTs. I buy what I like, and I like cool art and utility. I think by the time the market gets bullish again Bitcoin NFTs will capture a lot of new entrants into crypto while taking market share from ETH. So they are a big part of my strategy. I have only sold 2 NFTs since starting my collection, but made profit on both trades. I am using NFTs to leverage my Stacks.

Bitcoin Strategy

Buy spot, use Stacks to earn Bitcoin, use Sigle to earn Bitcoin, freelance some writing, do a bit of journalism. Pay attention, what do you see there? Use case. Savvy? I am using Stacks and Bitcoin to arrange my life to my liking. That is ultimate use case. Decentralization and the empowering of the people over the machinations of the state.

Sorry for getting off track.

Part of my Bitcoin trading strategy will involve active trading. It isn't time for that yet. Right now I am just content to buy spot and earn bitcoin.

Long term trade

The best traders I know make long term trades. So that is how I am playing this one. I never had a lot of starting capital in crypto, yet by Defi Summer I had a ton of ETH. That was one of my goals when I started, to enter a bull market ready to go. My goal this time is to not only enter the next bull in a great position, but to utilize the lessons I have learned (earned, truthfully) and grow. If you don't have a big stack, don't sweat it. There is going to be time to build your position. Just don't overtrade. Find your high conviction play, challenge your bias, make your plan, learn, and grow.

That's my plan anyway. I hope you guys enjoyed it, until next time, Jack.

*The easiest way to DCA your Stacks here