#B90X - DAY 38 - Top 3 Trading Myths

b90x

#21

I find myself learning trends and habits of other traders. Now that I have been in the market for close to three months, I’ve learned that you don’t need loads of fiat to amass a great deal of profits. You really need to do research and either stick to a goal or you’ll lose.

This lesson has been my favorites of them all! Thanks!


#22

For me it’s been #2. I find myself wishing I had more capital. I realize now that slow and steady wins the race. I’ve recently began focusing more on DCA. Working smarter should yield better results.


#24

I fell for the “undercapitalization myth.” it wasn’t until about a week before I started this program that I decided to take a step back and reset. I realized that having a large account wasn’t going to help my gains if I aimlessly injected more fiat for a dumb project over FOMO. I have a tech background, and I was not using my experience to research white papers that are open for everyone to read. I read through white papers and got rid of projects that in my opinion, I should have never invested in (looking at you TRX) and consolidated. Better gains through patience and research, no longer believe in the “undercapitalization myth.”


#25

Yes I also has been fallen to undercapitalised myth but as you said Sir it’s myth. Only discipline and personal strategy matters. And persistence.


#26

If I am an expert in anything, it’s making mistakes


#27

No sir. I have never fell victim in blaming my actions on a myth. I buy and hold but I do remember early trying to trade and feeling remorse perhaps that falls into the first myth. Luckily for me I got into ETH very low so every trade was full of profit and don’t look back.


#28

It is quite scary actually to think that 80% of the DOWJONES traded volume is done by computers.


#29

I have definitely fallen under the undercapitalization myth. Especially when I was first starting. Definitely remember getting in ICX @$2.30 and after a month or so, it went up to $3.3 - $3.5 range!
I remember doing the math and saying, say whatttt, I already made almost 50% profit just by doing nothing huh… if only I had put more money…
I think this happens to a lot of the new people when they first get into crypto. You make gains in your first or second trade and that gives you a certain confidence so you start looking into new projects, check out youtubers, read the news. Then, when you think you are ready and drop some money on a project but because you thought you knew the market but actually don’t know shizzless and you get in at the end of the bull run for that session and next thing you know, the price starts going down, cent by cent by cent while you start freaking out and the only thing that can think of it is to SELL ASAP! so you try to make a sell order while the website freezes and next thing you know, it went down 10-15% in a matter of minutes… then you feel like the dumbest person telling yourself WTF! did just happened, I did all the research and there was this event lineup, this partnership announcement, etc.
That is why, I personally believe that if you find a good project and everything checks out with your research + your community members and leaders, buy in and HODL that thang like is an I.O.U from Jesus.

Bitcoin Pub :heart:


#30

Definitely you could have made so much more but also you could have lost so much MORE!
Thanks for sharing man.


#31

First getting into crypto I definitely fell victim to all the myths and came in during the bull run made good trades everyday for first couple weeks in crypto like 2-3 weeks. When that dip happened was left holding a BCH bag. :man_facepalming: Thought I was a trading genius in the bull run like all the trading gurus on YouTube during that time. It was a good learning experience though and got to experience some success in crypto seeing real money being made while was making trades to stay in the game.

Finding DCTV and joining the Pub has made me a long term investor and live by DCA. I thought the big money was to made by trading when I first got in.


#32

We are responsible for our own decisions and these myths are applicable in the real world too. We just have to learn to accept and manage our responsibility for our decisions and avoid pointing fingers anywhere else.


#33

I’m putting myself through the b90x because of the first myth, lol. I haven’t faced myth number 2 yet as I have plenty of money into crypto, and I’m fully aware of my risk/reward outlook. I wasn’t aware of the automation myth, but I was considering subscribing to a youtuber’s trading calls. I will continue to learn here before doing anything prudent. You’ve already helped me so much, thank you Captain!


#34

I’m too new at trading to have stepped into these traps. But I see how I could, if not for some proper guidance that I am getting from B90X.
I’m currently working on my personal system of trading. And I’m sure I’m going to mess up along the way. But to keep losses at a minimum, I have a very small amount of capitol dedicated to this learning curve.
The truth of the mater is I am undercapitalized in life. LOL. I’m grinding hard to change that.
The autopilot would be appealing, but the personal system that I am working on has promise. (I think) We Will See.


#35

3X for me!! I think the biggest myth for me was joining a day trading service that was suppose to make it easy and not as time consuming…FALSE!!


#36

#2 is my biggest problem, I always want more to trade just because I dont have a lot to put in. So when theirs so many good options, I still want to diversify.


#37

I have such a long term strategy I’m honestly going to miss these bearish days.
But I have went in to heavy on icx on a couple occasions aside from the normal DCA. I figured the $2 mark had to be the bottom I was waiting on. :thinking: Yeah I missed that one :joy:


#38

Only DCAing is proven in this early stage of revolutionary technology :ok_hand:


#39

Experience is earned from doing and retrospection. I know I’m going to make bad calls, There are things that I do not know that I will learn from the pain of doing. LOL.

Thank the maker I don’t have enough capitol to loose big in trading. Too soon for big money. The time will come though.

When I dial my system in, maybe I’ll sell it on the internet for some bitcoin. I’m sure with the right marketing, I could make a killing.


#40

Mostly DCA but I like to play around with shorter term trading. Mostly even, but I’ll get better and will have another avenue of stacking that BTC.


#41

Happy(BADCALLS)Ballz here… Nice to meet you… In saying that most of my bad calls were early and before found the pub and DecentralisedTV. I haven’t sold back to fiat so the bad calls may eventually turnout okay in the long run. But it has been a steep learning curve thus far and it will get steeper still. I am in for the longterm 5-20 years on most investments, taking profits along the way and doing my best to improve as I go.