In a bull run, even a monkey can make money. But the monkey would know not to give the shit back. Why do you do it then?
Don't go haywire and lose your mind when you finally see "number go up duhrr" in your wallet. Have a plan on how to preserve that new wealth so you don't end up like 2018 bagholders.
1. Tether on the way up. Stablecoins are a great way to lock in gains. As you see them come in, you can tether them by trading your altcoins for stablecoins using a dollar cost average technique. Once you do this, you may want to secure them in your wallet. Hackers have been targeting stablecoins in protocols like Pickle recently. Also, USDC is completely centralized. Government could shut the switch off of that project at a moment's notice. Use a more decentralized stablecoin for maximum protection.
2. Gas up the tractor. Bull markets sometimes leave yield farms in the dust, but this is the best time to put more resources into farms — while the farm is in its "winter." You're playing with house money anyway, so a little dip on a shitcoin in a liquidity pair won't send you to Rekt City. You will be in a strong position then, because you can farm through bear and bull markets. There's nothing better than passive income that you can count on, and trading some of your gains for a psuedo-annuity is a great way to extend your personal financial ecosystem.
3. Invest in hard assets. If you are lucky enough to pull a high five-figure or six-figure gain, consider investing in hard assets like real estate. I've found there's nothing better than to have an ecosystem with passive income on the fiat and crypto side, because you can dip in and out of each market with the ebbs and flows.
4. Position yourself well in a flash crash. One strategy I love is to keep just a little bit of money in limit orders on exchanges. Those orders are set to take advantage of a flash crash in an overbought coin. I know I've seen those 5 minute dips on certain charts and kicked myself because I wasn't at the computer to grab them. If you're in profit, let the bots do the work for you with a bit of your excess funds.
5. Stake in your favorite projects. When you're in the green, it's a great time to initiate long term stakes. Because you're in profit, you won't feel the same emotional pull to grab your capital back if the coin dips. I've found if you can hold stakes through a bull and bear market, you will find yourself in a very good position on most projects with solid use cases. In the case of a 2X at some point, take your initial capital out of that and have yourself a perpetual money machine.
6. Bank some stablecoins. It's always good to have a little stash that you halfway forget about. (Don't really forget about it.) If you can stack a bit of money away in an interest bearing account like Aave or Compound with no need to borrow, you'll make all of your trades with more confidence.
7. Spread your wings. Try an aspect of crypto that you would never try before. For me, that would be a passive profit platform like the ones King of Fomo talks about. When I get my big gains, I'm going to check out something like Tronchain — a complete fuckin ponzi that has been reported to bring back some huge gains for folks. This play isn't about the money. It's about checking the source. For instance, if I follow King of Fomo with $2500 or so and he makes me some money, then I now have an entirely new side of crypto to explore. If he turns out to be a lying shill, well now I know for sure.
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