Figured I would make a more educational piece here to illustrate on how to prepare/approach a potential Alt Season.
*NOT FINANCIAL ADVICE*
Things Not To Do:
> Fomo into pumps because you think it will go higher
> Don't fall in love with any Alt...these Alts aint loyal
> Buy into something that is clearly dead and don't want to be revived
> Look at where a price was before and think it's going back there
> Understand junk on discount is still...you guessed it junk!
> Buying alts with very low liquidity (increases volatility as more suspect to price manipulation)
> Putting too much $ into 1 alt and worrying over every little move it makes to the point it's unhealthy and time sucking
> Thinking you're smarter than you are...and approaching this market like it's 2017 still...reality check noob!
> Becoming a bag holder and looking for other people to tell you reasons why your coin will go back up...even though you doubt it yourself (get off sinking ships)
Things To Do:
> Look for alts that have moved considerably off their lows (easy to spot uptrend) and retraced 50-80% of their trending move, some examples would be BAT, RLC, ZRX, XTZ, KMD
> Look for alts that appear to be breaking from stagnation periods and starting to form some type of uptrend, some examples would be ZEC, XMR, EOS, DASH
> Look for alts that have good liquidity ie decent volume/multiple exchanges
> Have conviction behind your thinking, an easy way to improve this is quite simple...use less $ than you normally would so the draw downs don't sting as much and you can see your idea through until proven otherwise
> Don't micro manage your positions because of external noise and boredom
> Have an opposite bias to what the majority of people are preaching
> Tune out most news/social media as it's not there to help you if history has taught us anything
> Understand that most Alt Coins over time have been on a descending trajectory and BTC has been ascending so your focus should be to convert your profits into BTC
Coins To Watch:
ETH, BAT, ZRX, RLC, XTZ, LINK, KNC, ENG, ATOM, WAVES, ENJ, KMD
note: Some of these coins are too high atm vs BTC and I'm personally waiting for pullbacks.
Good Luck.
*NOT FINANCIAL ADVICE*
Things Not To Do:
> Fomo into pumps because you think it will go higher
> Don't fall in love with any Alt...these Alts aint loyal
> Buy into something that is clearly dead and don't want to be revived
> Look at where a price was before and think it's going back there
> Understand junk on discount is still...you guessed it junk!
> Buying alts with very low liquidity (increases volatility as more suspect to price manipulation)
> Putting too much $ into 1 alt and worrying over every little move it makes to the point it's unhealthy and time sucking
> Thinking you're smarter than you are...and approaching this market like it's 2017 still...reality check noob!
> Becoming a bag holder and looking for other people to tell you reasons why your coin will go back up...even though you doubt it yourself (get off sinking ships)
Things To Do:
> Look for alts that have moved considerably off their lows (easy to spot uptrend) and retraced 50-80% of their trending move, some examples would be BAT, RLC, ZRX, XTZ, KMD
> Look for alts that appear to be breaking from stagnation periods and starting to form some type of uptrend, some examples would be ZEC, XMR, EOS, DASH
> Look for alts that have good liquidity ie decent volume/multiple exchanges
> Have conviction behind your thinking, an easy way to improve this is quite simple...use less $ than you normally would so the draw downs don't sting as much and you can see your idea through until proven otherwise
> Don't micro manage your positions because of external noise and boredom
> Have an opposite bias to what the majority of people are preaching
> Tune out most news/social media as it's not there to help you if history has taught us anything
> Understand that most Alt Coins over time have been on a descending trajectory and BTC has been ascending so your focus should be to convert your profits into BTC
Coins To Watch:
ETH, BAT, ZRX, RLC, XTZ, LINK, KNC, ENG, ATOM, WAVES, ENJ, KMD
note: Some of these coins are too high atm vs BTC and I'm personally waiting for pullbacks.
Good Luck.
注释
Currently in Alts: ZRX, BAT, XTZ, WAVES, ETH注释
ENG/BTC added注释
I should probably add that even though I'm playing an alt season scenario 30-40% of my portfolio is in BTC the majority of the time and my alt positions are substantially smaller making up roughly 10% each pos on avg~ with some variations.
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