Here are 6 Things You can do RIGHT NOW to Come out on Top When The Market Turns
Everyone says "bear markets are for building", but what does that ACTUALLY mean?
Here are 6 things you can do RIGHT NOW to come out on top when the market turns (whilst others are slacking).👇
During bull markets, it's very hard to focus.
With prices flying, it becomes hard to regulate your dopamine and focus on improving/refining your system.
Losing money sucks, but the one thing you do gain is mental clarity.
If applied correctly, this can lead to huge gains.
Your #1 focus right now should be on up-skilling.
In this article I'll give you some ideas as to how you can do that effectively.
1. LEARN TO USE AI
The highest upside thing you can do right now is learning how to use AI to level up your research flow.
Most people aren't using it properly yet, but you can 10x your productivity almost instantly with the current tools available.
Here are some ideas to get started:
• Use audio-to-text AI to generate summaries of AMAs to extract alpha
• Summarise top podcasts to extract the best info without needing to spend hours watching/listening
• Use AI to automate trading/DeFi for you.
I'll be doing a full article on exactly how I'm using AI in my daily work flow soon, so make sure to follow me to stay in the loop.
It has been a big focus of mine over the past few months.
2. LEARN TO TRADE
Even if you're an investor, having an understanding of the general basics of technicals and price action is so important.
Even if you're not scalping, you need to be able to accurately define support/resistance, and execute TP/de-risk strategy to better manage your portfolio.
Technicals are great as they are black-and-white, which is good for more inexperienced participants who may not have the fundamental nous to make moves based on intuition.
Difficult markets are arguably the best times to learn to trade, as you're battle-testing your system under extreme conditions.
When conditions improve, you'll comparatively find it easy.
There are amazing free resources online
3. EXPAND YOUR NETWORK
During quiet markets, it's actually easier to build a network.
1. Many figures in the industry who were previously inaccessible are now more accessible.
2. Only serious individuals are left, as all the weak ones have been filtered out.
You can create a group with like-minded individuals who are willing to learn/build throughout this period with you.
Alternatively, you could join an existing community and network within. The vibe is actually much better now than it was during peak-bull, as only the serious members are left - which raises the overall quality of information/discussion.
4. IDENTIFY THE NEXT BIG NARRATIVE(S)
Just as bull markets don't last forever, neither does the bear.
At some point, things will turn. And you want to make sure your watchlist is 100% prepared for when that time comes.
Monitor:
• The narratives that are growing in mindshare (mindshare can stay detached from price until conditions turn)
• The alts which are maintaining relative strength vs the rest of the market (these will likely pump the hardest once things reverse)
• The projects who keep shipping throughout boring periods, you want to invest in the real builders, not the hype chasers
• The projects which maintain a strong sense of community, even during boring periods
• Metric growth (TVL, fees, users): If a project is actually GROWING during a downtrend, that is a very good sign you've spotted an outlier
Projects which tick all of the above criteria are well positioned to rebound the strongest.
5. IDENTIFY DISLOCATIONS
Dips create dislocations/asymmetries/opportunities, as prices decouple from the underlying fundamentals.
There are plenty of these in the market.
My recommendation is going deep into a niche (for example AI), and doing a deep dive of the sector.
In addition to the points mentioned earlier, compare products that have:
• Revenue-generation
• A strong moat
• Strong runway
• A strong team/backers.
Your job is to spot outliers before they normalize.
6. DEVELOP AN EDGE
Most investors in crypto blindly buy without a real edge.
I want you to think about what yours is.
• Do you have an information edge?
• Do you have a speed edge?
• Do you have an emotional edge?
• Do you have an execution edge?
If not, now is the time to build one.
Choose what you focus on based on what you enjoy doing and your temperament.
Then commit over the next few months to going deep.
Bonus: Create content. This is one way to get an edge.
Obviously, access to network/deal flow/monetisation opportunities are big pluses, but even if you don't go "viral," the act of creating content itself makes you a lot smarter and helps with memory retention.
I hope you've found this article helpful.
Follow me for more content like this.