Aug 8 in Announcements
What Losing It All Taught Me
I'm human too.
The market has humbled me on several occasions. I've lost uncomfortable amounts of money that kept me up at night... And I’ve also experienced true euphoria, constantly refreshing my portfolio with wide eyes for weeks on end.
Here's what it's taught me:
1. You need to be cut-throat when it comes to taking profits.
It’s only your money once the profit is realised. It feels terrible when you ride all those gains up and back down to break-even. Even worse, it comes down to a loss.
And the worst… living as though your unrealised PNL is already solid cash in the bank. The problem with taking profits is that we’re always paralysed by perfection.
“What if I miss the top?”
And that’s fair. Nobody likes the feeling of missing out on more money. But there’s no such thing as perfect when it comes to exiting. You just want to have an exit plan and execute that plan when the time comes. If you can do that, that’s already perfect.
2. You need to buy aggressively when you feel the least like it
You’ve been in this situation before. Markets are down 50% just in the last couple weeks. The headlines are full of negativity. Everyone on Twitter is screaming to sell. But 2 months later, that ended up being the bottom.
The markets are now up 75% across the board. But you didn’t buy due to being paralysed by fear. Or worse… you panic sold the bottom.
Here’s a tip:
Contrarians win in financial markets. I.e. doing the opposite of what everyone else is doing. Because 90% of market participant are losing. So if you do the opposite of what the majority is doing… Wouldn’t it make sense that you’d win?
Buying fear and selling greed is hands-down the best strategy of all-time. And yet it’s easier said than done. But you just gotta pull the trigger regardless of how it feels. Because that’s where the big money lies.
3. Momentum is king
The thing that most people do after they experience a large setback is to take a break. But that’s the worst thing you can do. Because when you come back 3 weeks later… You’ve missed out everything that happened.
The charts don’t look the same. Heck, it feels difficult to just get yourself to look at the charts. This is because you’ve lost all your momentum. The laws of physics state that an object that stays in motion has a tendency to stay in motion. And an object at rest has a tendency to stay at rest.
Here’s a different way to look at this. Studies have found that the best athletes in the world don’t stay at the top because:
- They were the most athletic
- They worked the hardest
- They were the most gifted
Nope.
The main differentiator was their ability to quickly bounce back from losses, i.e. having a short-term memory. The fact is that we will experience countless setbacks in whatever we do.After all, everyone has good days. Everyone wins sometimes.
But how you recover from the bad days/performances is what will truly set you apart So instead of going MIA and throwing all your momentum out the window. Look at your mistakes in the eye and reflect on them. Double down on your studies but don’t take emotional trades.
Start over with lower position sizes and aim to achieve consistency. And instead of viewing your current hardships as a curse… View them as a blessing.
Because let’s face it. You’re at the level you’re at because of the setbacks you’ve overcome in the past. This is the same. Your current obstacles are what’s gonna unlock the next level for you.
So don’t shy away from success.
- Suen
P.S. In 72 hours we will be closing Trading Accelerator, if you still want to be apart of the AOC community and be eligible for a member only discount.
Check out the link...https://theartofcrypto.co/alpha-private-group/?utm_souce=SkoolPost&utm_campaign=8aug
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What Losing It All Taught Me
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