Jez emphasized the significance of "finding your people" when starting in crypto. He reflected on his early days and how, despite his strong educational background and trading experience, he struggled as a solo player during his first few years in the market. It wasn't until he connected with trusted individuals that he began to understand where he was going wrong. This insight highlights that community and mentorship can accelerate one's learning curve in trading and investing.
2. Identifying Your Edge Is Key
According to Jez, a critical step for those entering crypto is to discover their unique strengths or "edge." He noted that most of his successful trades came from identifying and sticking to what he was good at—specifically, being a "good new thing hunter." By acknowledging that losses often stemmed from deviating from his edge, Jez encouraged listeners to focus on refining their skills in areas where they feel most confident and knowledgeable.
3. Adapt Trading Styles Over Time
Jez discussed the necessity of evolving one's trading style as they gain more experience. He observed many traders falling back into high-risk, high-reward behaviors even after achieving success. He advised that as traders progress and find some level of success, they should not cling to their old ways that may have led them out of the trenches. Transitioning to less risky strategies can help preserve capital and ensure long-term success in trading.
4. Recognize the Value of Founder Intuition
Jez introduced the concept of "founder intuition" as a valuable tool for traders looking to evaluate potential investments. By understanding what a project's founder aims to achieve and whether they have the means to do so, traders can make informed decisions. He provided examples from his experiences with projects such as robit, highlighting the importance of assessing not just the product but the vision behind it.
5. Be Prepared for Volatility and Resist Panic Selling
Facing market uncertainty is an inevitable part of trading, and Jez underscored the importance of maintaining conviction during downturns. He shared that a key to success lies in having a well-defined thesis to guide decision-making and that precarious situations are part of the game. When facing price dips, understanding why you entered a position and what conditions would validate or invalidate it can help in managing stress and avoiding rash decisions.
6. Full Porting: A Strategy for the Confident
Jez openly discussed his tendency to "full port" into high-conviction trades, emphasizing that once he has a strong thesis, he prefers to allocate all available capital to that opportunity. This approach allows him to maximize potential returns, based on the belief that if he has identified the right opportunity, money shouldn't be spread too thin across multiple lower-conviction investments. However, he cautioned that this strategy should only be employed by those with sufficient experience and a solid understanding of risk management.
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