I've been dabbling in the crypto space for six years, experiencing various surges, pullbacks, greed, and fear, going through crashes like 312 and 519, never giving up, always holding on, until the end of 2021 when I multiplied my principal by 20 times and cleared my position. After three years, I returned to the crypto space to share some trading insights from these years!
Consistency in trading may be the most important thing for me.
It’s about completely disregarding your emotions, strictly following the plan, regardless of whether the market is turbulent or calm.
How to achieve a rock-solid mindset?
Those who have succeeded should know how to do it; those who haven't succeeded only have one reason: lack of confidence.
Fear comes from lack of confidence; fear leads to distorted operations; distorted operations lead to losses where they shouldn't exist and missed profits, ultimately leaving you confused.
So, where does this confidence come from?
My experience is:
You must have a system.
You must test both inside and outside the sample.
You must lower your expectations by 70%.
Definitely do not pursue perfection too much.
Before entering the market: test the system repeatedly across various cycles, varieties, and positions, until there is no reason not to enter, until you feel you can accept that outcome, and arrange a maximum loss limit that you can bear.
After entering the market: operate strictly according to the plan, whether losing or earning, let it be.
Here, letting it be is definitely not that kind of Zen attitude, that kind of indifference, but facing it calmly after doing your best.
The 'doing your best' before entering the market allows for the 'let it be' after entering the market.
It is this 'let it be' mentality after entering the market that ensures trading consistency, which 'may' lead to the results you desire.
Trading is a lonely road. If you're also interested in it, I can send you a summary of my trading insights from these years! Helping one person is a win.