28/03/2024
The art behind successful trading/investing is to simply not care.
The only downside is to reach this mental state you must:
- Blow many accounts
- Endure much pain and losses
- Make every mistake in the book
This eventually leads to an understanding that the mistakes can never be avoided, only less frequent with acquired experience.
This will naturally progress to better risk management.
Mistakes cannot be avoided, but many opportunities can be from the fear of mistakes.
If understood that they cannot be avoided, you’ll invest with the following criteria in mind:
- Affordability
- Comfortability
If what you invest takes you outside the “idgaf” state of mind, it’s far too much.
You know the next loss will eventually come so there’s no point stressing, just manage funds accordingly.
The beauty of losses in the market is that you’re the only one responsible for the damage those losses create.
Now think about the drastic contrast between this reality of trading and the perception that originally got you into trading.
Guarantee 99% of us entered with the expectations it would be relatively easy, maybe a little extra work at best. Bet most of us also thought it was an easy ride of just trading from a phone on the go whilst going about everyday life.
Yeah… now look at why most never make it to the other side…
Good luck finding enough people willing to reach a state of mind where you take full ownership over your decisions, especially your losses.
Most never break out of the get rich quick mentality.
Even if you’re lucky enough to get rich quickly on a few plays, your next challenge becomes keeping it all. Fast money placed in the hands of the inexperienced is quickly parted. Especially in crypto.
I do believe the key difference between the successful and unsuccessful is simply their state of mind.
No normal/sane person walks into this game uplifted, gets completely battered, then decides to continue that cycle until it eventually works.
That’s a psychopathic level of dedication, belief and trust in yourself that it will work.
Guess that’s the moral of this story.
Trust yourself, it will all work out if you stick to it ✌🏼
