A Letter to Myself in 2024: 15 Insights for Traders, from Mindset Management to Seizing Opportunities
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A Letter to Myself in 2024: 15 Insights for Traders, from Mindset Management to Seizing Opportunities
Don't be afraid to try opportunities that don't initially seem obvious.
Navigating Web3 tides with focused insightsAuthor: ML
Compiled by: TechFlow
Personal memo: 15 important lessons from 2024
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Don't be afraid to try opportunities that don't seem obvious at first glance.
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Don't overlook potential opportunities due to laziness, unfamiliarity, existing holdings, or involvement with competing assets.
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Stay cautious about recommendations on Crypto Twitter (CT). Always apply deep thinking and multi-layered reasoning when analyzing opportunities.
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Trust your own analysis, listen to your intuition, and take responsibility for your investment decisions: ultimately, your PNL is yours to bear.
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Don't compare yourself with others: learn to be genuinely happy for those who perform better, and draw lessons from their experiences.
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Learn to manage emotions: impulsive or emotional decisions often lead to poor outcomes.
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Strike a balance between sticking to your convictions and being open to new information.
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Leverage your strengths instead of blindly copying others' trading styles. There are many ways to make money in the market—finding what suits you best is key.
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It's okay to accept small profits or losses, but never allow yourself to suffer massive drawdowns.
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Missing life-changing wealth is a common experience (don't let anyone tell you it's wrong), but always extract lessons to avoid repeating the same mistakes.
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Identify and understand your cognitive blind spots, such as the "endowment effect" (our tendency to overvalue what we already own and undervalue what we don't).
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Be kind to others; don't belittle people, and try to help those who seek your advice. No matter how much wealth or status you gain, never change your core values or how you treat people.
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In markets, choosing to sell voluntarily is always better than being forced to sell.
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Opportunities are like buses—there’s always another one coming. Don’t get discouraged by missing one; the market never runs out of new possibilities.
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Even the best idea is worthless without effective execution.
Wishing everyone a Merry Christmas! Looking forward to seeing you back on the order book!
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