Staking Goals - On Target!
Without Vision Motivation Fades
Do you want to know why so many fail in this market? They arrive with the intention of “getting rich”. Not only that, but they are somewhat naive, regarding the dedication and journey that is involved in achieving this desired outcome. Don’t get me wrong, Crypto is unparalleled, in terms of its wealth-generative potential. However, it does not exclude basic principles that are foundational in any form of success.
Essentially, every Crypto noob needs to not only understand this, but also embrace it, and all that it entails. Regardless of whether you are fortunate enough to be able to throw copious amounts of capital at this market or not, it’s still very much a process… a journey. Furthermore, the market gets to decide just how long your journey is going to be. Every investor has to work with the market and refuse the temptation of thinking they are in control.
This is why, during downturns, or periods of sideways chop, I get busy with my accumulation and long-term goals. Instead of hoping for better days, I utilize the opportunities provided by an oftentimes “unpredictable” market. Recently, I published an article addressing my staking goals and what I was hoping to achieve over the next 6 months. In brief, I am looking to accumulate as much as possible during the next 6 months or so.
When & How
This will mean that I will cease accumulation approximately 3 months after the halving when the market begins to heat up. If prices appreciate higher and faster than expected, I may even halt accumulation earlier. It’s at this point, that I will begin harvesting my staking rewards. This will continue until harvesting is no longer viable. At this point I will look to rebalance, or compound rewards into the next bullish cycle.
These decisions will however be revisited closer to the time. It’s still far too early to begin looking at exit strategies. I have a few in mind, and depending on where the market tops out, will determine which one I choose to execute. It may well be a combination of two or three different strategies. However, like I said, that’s a decision for later on. It’s all about making the most of the final accumulation zone.
Many are eagerly awaiting an explosive move from the market. However, when it eventually does happen, they will wish they had made better use of this time. It is the final push. No matter if we go up or down in the interim, a few months from now, this will be viewed as the final pre-halving entry zone. It’s important to not only be in sync but also to understand the season at hand. Without this understanding, you are unlikely to be initiating the correct course of action, which is imperative if this market is to reward you.
My staking goals seem to be on target, and within the next 4 to 6 months, I hope to have reached my daily staking quota. It’s important to note that this goes beyond traditional staking. I do stake Crypto assets in traditional Proof-of-Stake protocols. However, I also “lock up” Crypto assets as collateral for leverage trading. I then aim to make a certain percentage of this allocation every day, week, and so on.
In other words, I maintain my initial stack, and because it is in the form of Crypto, and not USD, it appreciates while simultaneously realizing additional gains/rewards. Using this strategy in the previous bull market made me realize just how powerful it is. Once again, careful planning, regarding relativity ratios and leverage is crucial, as one has to make allowance/provision for those hefty bull market corrections.
Final Thoughts
As a fine wine is enhanced with age, a journeyed investor improves with experience. I don’t know of a single trader that didn’t arrive at a certain level of efficiency, or excellence without first passing through the school of hard knocks. I try to revisit previous cycles, to ensure I am not trapped by the common pitfalls, and am rather able to make better use of the time and opportunities afforded me by the market.
I want to ensure that I can reach my goals in time, and then, if possible, to improve upon them even further. Eventually, there comes a time when preparation is no longer an option. Whatever your goals and desires, now’s the time to give it that final push. All the best, catch you next time!
Disclaimer
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
This article was first published on Sapphire Crypto.
Posted Using InLeo Alpha