7 years of trading experience

In my 7 years of trading experience, I had learnt a lot of lessons, which I would try to set down in my thread, of which the most significant one was that you can never become an expert in trading; you will always be a student, and the best you can become is an emotionally sound version. In my last 15 months in this Monad community, I’ve evolved from a version of myself that was all about earning money and was only here to get rewarded, like I was in @SuiNetwork in April 2023, to a version that wants to keep growing every day. I met the most significant man, @2red, in Quant chat and later on Twitter, who DM’d me and mentioned that the most crucial things and made me evolve even more.

The IRL was a huge success because I got to meet people like @jani_shanu, learn a lot, and change my perspective on trading completely. So, absolutely, Monad is more than simply a project; it is a community that is improving people’s lives and their perspectives. So there are many lessons I’ve learnt, please found below tread for a few that will help you understand and possibly become better.

1. Cut your fingers, or else prepare to cut your arm. Yes, cut your losses as soon as possible; else, you will lose the entire trade. This applies not only to trade, but also to your personal life. In life, when you obtain a chance, keep pushing your limitations in the right direction, but if you discover that you were mistaken about the opportunity, be prepared to let go.
2. Give your winners as much time as possible to run, and limit your losers as much as you can using numbers that make sense. Many, myself included in my early twenties, felt guilty about booking profits in my trades that were proceeding according to my convictions. It was yearn finance for me; I booked and was happy in 2020, but later, when I saw the price, I was shocked. In actuality, those trades should have been allowed to run and produce more profit. What I realized from my error was that even though I was certain of the project, I allowed myself to ignore it. Later, I rectified my error when I bought @relevantfeed for 0.118$, and I knew social-fi would be a major thing; maybe not Relevant, but the project is young and will make me a lot of money, and yes, it made me a lot of money from my previous bull run profit when I sold for 11$ per token. So the lesson here, and with each passing moment, I’ve realized, you’ll get at most 20–25 fantastic trades in your entire life, and it’s up to you to let emotion & greed dictate it. Greed because you don’t have to do a round trip anyways!
3. This is a life lesson I’ve learnt: we should never blame anyone, including ourselves, at some point; instead, accept our mistakes, forgive ourselves, and move on, because peace of mind comes with self-acceptance, which is the key to living your life.

If you found this helpful, please follow @cryptodurgesh & subscribe to my Medium Channel; I will always be there to guide myself and anyone in need, as well as to be guided by the fantastic community around me.