02/06/2022
There are many times in our lives when we face
challenges that are almost too much for us the
bear. It is in these difficult times that shape and
mold our character, and help us to grow. It is
during these difficult times that we have the
choice to sink, swim, or be the captain and steer
the ship. These are the times when we have to
take action. You have to let go of things that are
outside of your control, and do everything you
can to influence the direction for everything that
is within your control. The habits you form
through repeated action day in and day out will
determine your future in life and in trading. Your
mindset is everything. Do you have a toxic,
negative, cynical attitude when things get tough,
or do you keep a positive attitude no matter
what happens?
My heart goes out to those who lost out on
Luna, but now you have a decision to make. Will
you allow this one coin out of thousands sink
you, or will you learn from the experience and
choose to keep moving forward like a champion
no matter what? You accumulated that money
once before. Is it not possible to do it again?
You have to get to a point where nothing
outside of you can break you because it will
every single time if you allow it. Whatever is lost
you can always get back again because of the
skills you have acquired, and the character you
have developed.
Never invest money that you can’t afford to
lose. Never put all your eggs in one basket. This
market is like the wild, wild, west. There is no
regulation. If you invest in long term holds
understand that this market is in infancy stages,
and it fluctuates widely. Dow’s theory, Gann’s
theory, and the 50% rule all state that after a
large impulse there will be at least a 50%
retrace. Many coins in the top 10 or 20 have
come and gone, and will continue to do so.
Bitcoin is the same price it was a year ago.
When you invest in long term holds this must be
taken into consideration. These
fluctuations/volatility is a good thing. It’s what
enables us to make big gains as traders. Take
advantage of it while it lasts! Get in, ride the
wave, and get out. Learn how to double $1
before you start trading with $100. If you can’t
consistently flip $1 what makes you think you
can flip $100 or $1000?
There is risk involved in every single trade.
Nothing is 100% certain. We work with
probabilities. The more high quality traits a
trade has, the higher the probability it will play
out the way we want it to. This is a difficult
concept for beginners to understand, but this is
how trading works. It’s like you’re in a court
case and you’re the judge. The judge doesn’t
know for sure which side is telling the truth, so
you have to weigh all the good evidence with all
the bad evidence, and then arrive at an
educated decision. Trading is about combining
as many high quality trade characteristics as
possible, and then using proper risk
management through the use of stop losses to
prevent losses when you make wrong decisions.
What normally happens when beginners start
trading is they learn a minimal amount, make a
couple bad trades, and then resort back to long
term holding with no stop losses. This is what I
did when I first started too. Then you get
wrecked by a dip and it causes you enough pain
to make you change your approach. Make a
decision that you’re going to do whatever it
takes to learn this process, and then never look
back. Focus on the path ahead and disregard all
the distractions along the way. Learn as much
as you possibly can. Knowledge is power! The
more you learn, the more you earn!
