The thing that ruined me as a trader. Over the weekend, I reflected on all my trades of the last few years. If I was the perfect trader and sold at the top every time, didn’t reroll with size, I would have cleared 9 figures. I’ve been able to realize only a small % of that, but absolute value, it’s infinitely more than the $900 I started with in 2023. An insane number that I would never have dreamed of when I first started. But if I could go back in time, this is what id tell myself to be able to have taken more off the table for the next time. Unit Sizing I'm a big fan of the lay up, of the free throw. If you look at the beginning of basketball games, unless you're Steph Curry, I think it's always better to focus on "easy" baskets first. To get a rhythm and flow to your shot. Emphasize consistent wins over BIG shots. That's how you get big shots. One of my biggest mistakes has been going for home runs or crazy shots when I feel desperate or overconfident. And yes, it is important to sometimes go for heat checks and see if you can hit that banger. However, in all of my massive trades over the years ($WIF, $TRUMP, memes, ordinals, runes, eth long, etc.) I never meant to hit a banger. They were all accidental. I was just in my flow state and was simply going for a win. Those times, timing met opportunity perfectly. When I was trying to go for massive wins by increasing my unit size out of my system is when I would be chasing fomo, and end up losing the most of money. Easy to say now, but lock in profit, stacking the win > maximizing the win. That leads me to the next thing. The Balance Trading is f*cking hard, and never let anyone tell you otherwise. Throughout your journey, you'll learn to do one thing, but not another. The difference between the two is sometimes inches. Be confident, but not overconfident. Take risks, but don't take unnecessary risk. For me, I've lost a lot when I mistook one for another. Sometimes, when I've won many times in a row, I'll tend to lean into overconfidence. Trusting my gut too much instead of the systems that got me to that place. Slow down to go fast. Pace vs speed. Keep pace high, but control your speed. They look almost identical, but there are some things that make them different. If you follow the wrong shadow, you can go down the wrong path. Be careful not to be mislead. Timing My biggest takeaway which is the biggest piece of advice I give to anyone is understand if the game is on easy mode or hard mode. It is not complicated. If the environment rewards risk taking, it feels hard to take profit, and you're constantly euphoric, this is when you want to play. When it feels like you jumped into a lobby with pros and have to fully lock in to even get 1 lick, maybe don't play today. When I tried to overtrade during hard mode, I'd just waste time and energy fighting a brick wall. Better just to sit down, focus on anything else and come back when it's season. 1 good month can outplay 11 mid months. Be patient, strike when it's time. Funny enough, trading has been one of life's greatest teachers. It has taught me what are my strengths, and where I can be potentially vulnerable. More than ever, I understand the power of the mind and how important it is to train it. To know what it means to be human.
7.34K
109
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.