Read on Twitter
1/ I saw alot of mixed reactions with regards to my tweet on 35k -> 1mil on spot alt coins, so I would like to take this chance to share some insights and context.
2/ Not financial advice
3/ First of all, it is impossible to predict tops and bottoms.
While it is impossible to predict tops and bottoms, it IS possible to have great entries and great exits.
As a trader, you need to find your edge and play around it to maximize your profits.
While it is impossible to predict tops and bottoms, it IS possible to have great entries and great exits.
As a trader, you need to find your edge and play around it to maximize your profits.
4/ "$35k-> $1mil" is just a simple mathematical formula.
Some people are saying that you shouldn't throw 35k into a shitcoin. Well, you do realize that the same formula is applicable for 3.5k -> 100k right? Or $350 -> 10k.
If you cant math, should you even trade?
Some people are saying that you shouldn't throw 35k into a shitcoin. Well, you do realize that the same formula is applicable for 3.5k -> 100k right? Or $350 -> 10k.
If you cant math, should you even trade?
5/ Also, position size is ALWAYS relative to a person's portfolio. Nobody is asking anyone to go all in.
If your portfolio is only worth $35k and you risk it all on a shitcoin, that's a degen move.
If your portfolio is worth $1mil, then a $35k position is only a mere 3.5% risk
If your portfolio is only worth $35k and you risk it all on a shitcoin, that's a degen move.
If your portfolio is worth $1mil, then a $35k position is only a mere 3.5% risk
6/ And this is why nominal PnL flexing is pretty toxic on social media. It creates envy, and it causes greed to be bred in the mind of the weaker individuals.
I mean, we know that Instagram causes more unhappiness because human beings love to compare what they don't have.
I mean, we know that Instagram causes more unhappiness because human beings love to compare what they don't have.
7/ Most experienced traders have a well built psychology. Though we have down times, we also learn how to take ourselves out of the mud asap.
Just like body muscles, mentality can be strengthened. It helps to filter out bad emotions tbh
Just like body muscles, mentality can be strengthened. It helps to filter out bad emotions tbh
/8 Sorry I digressed, but imo that's important.
Anyway, the 4 coins that I listed were not plucked from thin air, or just because their charts looked great.
There were specific factors, or what I call catalysts, that were in play.
Anyway, the 4 coins that I listed were not plucked from thin air, or just because their charts looked great.
There were specific factors, or what I call catalysts, that were in play.
/9 For $DOT, on 24th Dec, Binance announced that they will be supporting the Polkadot ecosystem. And everyone knew about Parachain in January.
It was a no brainer to own $DOT
Many PolkaChads like @Adouble212 @DonnieBigBags @bitcoin_brown @LLCDC1 were calling $DOT since below $4
It was a no brainer to own $DOT
Many PolkaChads like @Adouble212 @DonnieBigBags @bitcoin_brown @LLCDC1 were calling $DOT since below $4
/10 For $XLM, they were having partnership with the government of Ukraine.
This is not your typical shitcoin using Google Cloud as data storage kind of partnership.
Imagine not buying.
This is not your typical shitcoin using Google Cloud as data storage kind of partnership.
Imagine not buying.
11/ For $AVAX and $GRT, well, go find out about it yourself.
Maybe there was nothing and I'm just rambling about.
idk tho
Maybe there was nothing and I'm just rambling about.
idk tho
12/ Betting big on +EV trades is drastically different from degenerating a 10-50x single directional bet on your favourite exchange.
Maybe you're into gambling, but I am into trading, and I only trade when I have the edge.
Maybe you're into gambling, but I am into trading, and I only trade when I have the edge.
13/ @AlamedaTrabucco sums up this wonderfully (and I learnt alot from him) in this thread.
Highly recommend a read to understand the power of betting big when the edge favours you. https://twitter.com/AlamedaTrabucco/status/1349538525218127872?s=20
Highly recommend a read to understand the power of betting big when the edge favours you. https://twitter.com/AlamedaTrabucco/status/1349538525218127872?s=20
14/ Lastly, I just want to say that I am NOT the best trader in the space. I am always learning from others and share what I learnt on my personal feed.
I think of it as a journal, and through writing (or shitposting actually), I absorb better.
I think of it as a journal, and through writing (or shitposting actually), I absorb better.
15/ Sometimes I even psyops myself.
For example, I wrote this because I was annoyed that I wasn't earning as much as my peers. Well, I'm still making decent gains, but as mentioned early, envy can be a dangerous thing and I am susceptible to it as well. https://twitter.com/DarkCryptoLord/status/1350337004530135041?s=20
For example, I wrote this because I was annoyed that I wasn't earning as much as my peers. Well, I'm still making decent gains, but as mentioned early, envy can be a dangerous thing and I am susceptible to it as well. https://twitter.com/DarkCryptoLord/status/1350337004530135041?s=20
16/ So yes, in summary, please don't take the 35k > 1mil post at surface level. Meanwhile, please enjoy the Alt Szn.
Whatever it is, *always* protect your capital!
P.s. now I know why @SBF_Alameda always tweetstorm. It's actually addictive to keep typing your thoughts out haha
Whatever it is, *always* protect your capital!
P.s. now I know why @SBF_Alameda always tweetstorm. It's actually addictive to keep typing your thoughts out haha
