There's no doubt that we are in the infant stage of the much-anticipated bull run, one that many predict will lead to the largest generational wealth transfer recorded in history. The last bull run led to the creation of many new millionaires and a few billionaires, with so much money flowing through the crypto market. With so much euphoria, it's hard not to get lost in the craze of it all and sadly, losing sight of your objectives in the market often leaves you with nothing, even after you've acquired so much.

Just like the last cycle, there will be many traders who will make so much money on paper, only to lose it all because of mistakes they could have avoided if they had the right knowledge and people around them. They'll make preventable mistakes that cost themselves life-changing wealth. Humans who forget the past are doomed to repeat history, a statement turned fact when you look at how quick people are to repeat the same mistakes they made in the past.

There are many mistakes people make but there are 6 very common ones which most people suffer from. If you can eliminate all 6 from your trading plan, you will be on course to become a bull run success.

1. Profit Taking

A lot of people get excited when they see their portfolio rise in value. It creates a false sense of genius that traps you into a cycle of greed and hope for greater profits. You'll see people taking screenshots of their futures trades, posting quotes on WhatsApp and just being obnoxious because of the profits they see.

What these people fail to do is take their profits, full or partial, and rotate them into stables. They don't secure their profits and rue the missed opportunities they had. Don't be part of this group of people, TAKE YOUR PROFITS. Nobody cares about your portfolio, the only thing that matters is what you keep at the end of the bull run cycle.

2. Underestimating Momentum

Cryptocurrencies will pump to highs and you may think they are too high to purchase, this is a mistake. In a bull run, PRICE becomes a narrative. There is no logic behind the movement except for "If one moves, all move". Waiting for prices to correct would be a big mistake on your part because it's the bull market, tokens will go to their ATH, and then do 10x more from that point.

Remember that it's the bull market, logic gets thrown out the window.

3. Not Focusing on Narratives

You cannot catch everything. I know you want to put your money into every coin and hope one of them becomes your golden ticket, but you are putting yourself at a higher risk of loss.

Focus on some narratives, 3 at most and find the winners within that narrative. Focussing on narratives will prevent you from spreading yourself too thin, preventing early losses which could turn a profit if not spread so thinly.

Some good narratives you can look into are RWAs, AI, AltLayer 1s and 2s, Game-Fi and BRC-20.

4. Always Panicking During Corrections

investing and trading has never been only bullish or upward moving. There are periods when prices of assets correct (the only exception being land) and during these periods, it is people with little to zero knowledge of investing who sell their assets out of fear, making a loss as a consequence.

There will be MANY corrections on the way to the top. They're healthy for the markets and to be expected. Don't leverage too much, or you'll get liquidated and don't try to time each correction - keep it simple.

5. Revenge Trading

The dumbest way people lose money in a bull run. Have you ever played a bet on football, lost the bet and then tried to bet again so that you could recover the amount you bet before; only to still lose again?

It's a psychological cycle in your mind that gets triggered any time you lose. You think "I can get it back, I just have to be more careful". Your thoughts and judgement are clouded by your desire to make back what you lost immediately, leading to more losses.

Don't do this in crypto. Lose money? You're emotional, and now's NOT the time for trading. Take a few days off. Don't make things worse for yourself.

6. Holding Losses

I know you may think this contradicts my earlier point, but it doesn't. The difference between selling your assets for loss in a market correction and selling off a flop. Nobody ever gets it correct 100% of the time, but it's not right to just hold them to $0. Set some conditions before you enter the trade. For example, cut it if it goes down by more than 15%.

If you keep thinking "But what if I sell it, and it goes higher?" you will enter into a nigger predicament. learn to let them go if they are irredeemable. What if you hold onto it, and it goes to $0? What if it stays stagnant, and you could've allocated it to a 10x? There's an opportunity cost to your capital. Be smart about your capital.