Thanks Peter! This is solid! I definitely gotta take a step back now and just slowly invest. I think I need to learn more before I get deeper into crypto. I’m in it for the long haul but I gotta take care of the immediate things like getting out of debt and reducing any negative aspects in life in general so I can be as positive and uplifting as you are. Crypto isn’t going anywhere and it’s just like any other market, it swings, it’s only been two months since I’ve been interested, but in those last two months have been an eye opener! I will give it time and patience and try to absorb as much as I can!
#B90X - DAY 40 - Master the top 3 essential components for trading + 7 tips around personal trading psychology
I have become controlled with my trading. Same amount on same day each week.
Increased ability to understand my feeling when trading, not reacting to FOMO.
My technical trading has also improved.
I still need to improve my data recording, very lazy at that.
What a crazy week it’s been. Finally back. With today’s lesson, I am focusing on staying in for the long haul and not take losses based on emotion. I will also continue with proper education of a currency before jumping in based on FOMO.
well this is a great experience for me for sure. I’ve learned to much better read the charts witch took my emotions right out of the picture. Now I see that the market dips are like a coupon in the store. I just keep waiting for the best coupon aka lowest dip lol before I get anything. I wait way more now and if I miss this opportunity there will be another. I feel way more relaxed as a trader now. Ill get my self in the game on my terms. I just got to this point with this last correction. I feel I got in with the best time to learn and grow in crypto. I started learning in December last year. got some BTC in feb with the market pull back. now this last one hurt a little bit. but its ok. I dived into the tech side of it now. and I have a better understanding of the projects and the net work. I love this technology now that i understand it a bit. I’m in this for the long term for sure. my eyes are open to the possibility of all this and I’m in full support.
This has been a great eye opener… point is indeed the long term goal, have learnt on emotional discipline. Am gradually developing my crypto investment routine that I shal stick to. To the moon indeed.
I’m I silly for seeking longer term HODL cryptos? I for sure have four different long-term cryptos that will produce steady growth (HIRE, XDCE, SUB and LNC).
I’ve also cost averaging, since the market has been so crazy these past 90 days.
Lastly, discipline is the number one focus for me. I am sharply studying patterns, reading the charts and thinking outside the box like “professional” traders.
Anyone else also playing it safe and investing for the long haul?
Thanks again for the recap!
I need to establish some rules. Right now I’m in an accumulation phase with very few trades. I’m pumping up my volumes so that when BTC goes on it’s epic tear (hopefully) I can accumulate those gains and reinvest it in BTC and other coins. DCA also needs implemented. This is now high priority.
B90X course is amazing. I’m here for the long run and first goal is: Long term survival.
This fall and winter I’ve been heavily focused on adding more TA tools to my arsenal, learn all the tools and then one day they just all add up and you find your flow… That is one path to mastery that I have found in other areas of my life.
Lately I have really been so curious and interested about economics and defining WHAT is money? It’s inter-subjective. It changes. Takes on different forms throughout the ages.
I also find it incredibly thought stimulating to consider global market psychology. Especially because crypto is traded 24/7 around the globe.
How fucking cool is that?? We have a measurable piece of data (price) that allows us insight into how people all over the globe are feeling.
Fuck yeah. Feelin good!
I’m going too be focused on exiting after the next big pump to pay off the house
I need to focus on writing down my DCA and focus on TA. I need to become a smarter invester.
What I need to focus on first in order to become better at trading and investing is learn to be more relaxed and let things go temporarily. What I mean with that is for example, in trading and investing, like most things in life, you have steps; a beginning, middle and end. You find a project, you research it + consult with your community then if everything looks good and after carefully reviewing all the info, you get a lil tingle in you know where and you invest in it.
The first few steps are relatively easy, just time consuming mainly doing all the research and reading tons but in my experience, the part where I am most lacking is the end. I don’t now if this happens to others but once I set that limit order button and click buy, it feels great. Waiting for the order to get filled and a lot of excitement from the imagination of the potential of that coin, where it could go and the world-changing things it could do! and… that lasts about a week or a bit more sometimes depending on the news hype most of the times but as the days go by and the market gets slower, thoughts start coming in my mind, saying: "Are you sure, you did the BEST research you could have about this project? Are you sure, this is the best project out of all of the other projects with similar technology? Why are other coins prices(from other projects that I researched and thought had potential but ultimately decided not to invest on it) keep going up while my coins keep going down? and many more doubt questions that ultimately makes me say, "Wait, why did I invest in this coin, again??.. Oh yeah because of this and this and that… I learned I have a very fragile mind and forget things easily sometimes, until I remember again.
My point to all of this rant is that, like in a boxing match, the fighter does all the hard work, sacrifices and training before the fight and if you listen to most fighters, the fight is the easy part because you just have to show up. Like a fighter, if we find a good project and passes all your check marks and you invest on it. After that, don’t ask questions and just HODL until you reach your set goal. Learn to distract yourself with a different project or learn pottery for all I care but the important thing is to distract ourselves from the crypto world temporarily. For the long run, it will help improve your crypto and overall life.
Brotha, I feel like the big question that a lot of new people in crypto, including myself have is how do you monetize something you are passionate about in the crypto world?
I feel like there are so many people with different professions and jobs in the non-crypto world but they want to get involved by integrating their profession with crypto and that’s where a lot of people are stuck, still trying to figure it out. How to make it profitable so they can go full time.
Thanks for sharing!
The gains are coming what I’m focused on is mental change. If you want things your life to change you have to change things in your life. In it for the long run fasho.
Self-control, self-awareness and walking into anything you do with both eyes open is a fantastic way of life.
Trying to DCA for the long game. Wonderful review. Trying to get my house in order and develop the winner’s outlook and attitude.
So much content to absorb.
I have same question as @Irthedoug What are some of the best ways to monetize the crypto space if you want to go full time?
Day 40 – Ready to launch
I like how this video tied together many of the previous lessons. I was about to buy today’s dip based on emotion, but then I was reminded about money management. I definitely need to continue to learn. More research behind my coins will help me avoid the FUD I hear daily from you-tubers. I need to get better at managing my time as well so I can find time to read, learn, and practice/experiment trading. It was a good suggestion to work on long-term investments first, then small gains, and finally moon-shots -I hadn’t considered this before and am currently holding a few moon-shot coins in my basket. More great content!
Watching this video, makes me really appreciate B90X even more. The foundation for a whole new lifestyle has be laid and the concrete is hardening. I am building something exciting for myself and my family.
When i first started the B90X i was hoping for a system to be handed to me. What I GOT was tools.
Currently developing MY logical trading system/process and running it through the paces (dedicated $100 for this). The fact that I have designed my goals and rules, the emotions get taken out of the equation. When a mistake happens, I analyse, adjust the system to make it stronger, and carry on logically.
The funny thing is, my worry of making a mistake is lessened dramatically, and even looked at as an asset. Now I have something to make my system stronger.
I know there are going to be mistakes, but a $100 petri dish is perfect.
My intention is to design a system that is alcohol proof.
I stopped DCAing every week…I need to get that started back up and just stay consistent!
As my second time through b90x (and taking the time to write the comments) I can feel the change of, “I have to do this.” I can’t just halfway watch the video and expect any change or improvement. One thing I still semi suffer from is the fomo. I say semi because icx hit a low and it was dca day. Now i had an offer for lower, but the price was on the rise and i thought that it wasnt going back down to the ultra low anymore. I went and bought more at around 60something cents. Now yes, it was a fomo buy (bad no no chris) however the only reason why I did was because it was still lower than my current average, and would lower my total overall. Thankfully, it did go up, and my average went down, but I would be lying if I said that there was zero emotion on that trade.