ngapat wrote:Jon Jones wrote:The party has officially started. Let's get paid. The herd will be joining us in 4 weeks at the worst possible time as always
my portfolio had hit 3000usd before the bear started. Now its at 1100. I will hit the sell button asap should it hit 3000usd again. I invested 2000usd in 2017 at ATH and im seeing signs of recovering my money
Just hold and you will be fine, simply because we are in a bull market.
I lost a lot of money too at the beginning when I was a clueless wannabe retail trader/investor. Sometimes I look back and pity my younger self and how naive I was. Nowadays, I'm on the opposite side of that bet but it took a lot of harsh lessons, capital erosion, blood, sweat, and tears. I still have a lot to learn, but at least my losses are manageable now and my equity curve is upwards (I make more than I lose).
It takes a lot of hard work and sacrifice to become a successful trader (Years and not a weekend course). However, the outcome of one trade is binary (win or loss), and this makes the masses think that trading is easy.
Trading is the only career where a clueless newbie has a 50% chance of making money in the short term. This draws retail in for the quick gains because they don't understand probabilities. In the long run, they lose the money. You can't land a jet without prior knowledge and experience, but you can make a profit in your first trade without prior experience. This is the trap that draws most retail investors to markets.
In social circles people ask what I do for a living, and once they hear trading, they ask me to teach them how to trade as if it is something they can learn in one weekend/month. It takes 4+ years to be a decent computer programmer, lawyer, architect, etc...but somehow people think it takes 2 weeks to learn trading.
Since men have learned to shoot without missing, I have learned to fly without perching