Read on Twitter
Look at your portfolio.
Now back at @SalsaTekila's
Look at your portfolio.
Now back at @SalsaTekila's
Sadly it didn't make 4000% in 3 weeks
But if you read my THREAD you could learn to think like someone who made 4000% in 3 weeks
Now back at @SalsaTekila's
Look at your portfolio.
Now back at @SalsaTekila's
Sadly it didn't make 4000% in 3 weeks
But if you read my THREAD you could learn to think like someone who made 4000% in 3 weeks
1/ Attending podcasts is a win-win.
It can be a form of hindsight analysis that allows you to rethink past decisions. It also gives you free visibility and connects you to interesting people in the space.
It can be a form of hindsight analysis that allows you to rethink past decisions. It also gives you free visibility and connects you to interesting people in the space.
2/ Trading competitions consist of both skill and luck.
You have to take more risk than any normal trader would do. You either go bust or have insane returns.
You have to take more risk than any normal trader would do. You either go bust or have insane returns.
3/ Learn how to lose.
In a trading career, you will inevitably take a lot of losses. It’s more important to be able to take a loss well than taking a win. Risk management is everything.
In a trading career, you will inevitably take a lot of losses. It’s more important to be able to take a loss well than taking a win. Risk management is everything.
4/ Bigger isn't always better
Trading with size puts you at a disadvantage most of the time. Being trapped in a position without sufficient liquidity can result in even bigger losses.
Trading with size puts you at a disadvantage most of the time. Being trapped in a position without sufficient liquidity can result in even bigger losses.
5/ Two rules Salsa loves
- When you want to gamble, make sure it has a positive expectancy
-Keep risk of ruin in check at all times
- When you want to gamble, make sure it has a positive expectancy
-Keep risk of ruin in check at all times
6/ Emotional management
Discover your weaknesses and fears then don’t let your emotions influence your decisions.
Discover your weaknesses and fears then don’t let your emotions influence your decisions.
7/ Don’t force trades that aren’t there.
Don’t try to impose your own parameters to the market, wait until the market gives you a trade setup you can execute on.
Don’t try to impose your own parameters to the market, wait until the market gives you a trade setup you can execute on.
8/ Don’t underestimate the importance of sleep.
Sleep deprivation in a 24/7 market is common but it will catch up on you eventually.
Sleep deprivation in a 24/7 market is common but it will catch up on you eventually.
9/ Overconfidence
The moment you think trading is easy is when the markets humbles you and you take the biggest hits. Lifelong learning and improving is a necessary trait for any successful trader.
The moment you think trading is easy is when the markets humbles you and you take the biggest hits. Lifelong learning and improving is a necessary trait for any successful trader.
10/ Skin in the game
The best way to learn to trade is by trading a lot. You need skin in the game, don’t trade with paper funds for too long.
The best way to learn to trade is by trading a lot. You need skin in the game, don’t trade with paper funds for too long.
If you learned something, consider checking out the entire episode!
We're on every major platform, links below :) https://koroushak.buzzsprout.com/1280444/5533003-10-salsatekila-how-salsa-made-4000-in-3-weeks
We're on every major platform, links below :) https://koroushak.buzzsprout.com/1280444/5533003-10-salsatekila-how-salsa-made-4000-in-3-weeks
