tribune of the /replyguys 🗣️ cofounder @pageone

the mental model that works for me is thinking that all of this money that i was offered as a gift can disappear tomorrow and that, if that happens, i will have to just look for a normal job and life will still be a gift 

most of people work normal jobs anyway

hopefully it doesn't happen though. i like this

i think most successful traders operate with some version of suspended realization 

but is a fine line btwn dangerous and beneficial wrt disregarding reality of our digital wealth

most must dance well into the dangerous side before finding the benefits themself

Yeah I think you really do have to learn the hard way that it's not real until realised in order to take risk seriously. That's why first cycles are so crucial in forming a relationship with the space when it comes to trading & speculating.

Platform Ops / Opsec engineer.

Likes skeletons.

i'm on my first cycle, and full on navigating the rollercoaster.

what have you learned that could be beneficial for someone like me at this point? what do you mean with "forming a relationship with the space"?

I found in my early trades that I spent a lot of time sitting in winning positions that eventually went on to drop back to breakeven or generally became less profitable than other opportunities that I was also aware of. 

IMO It's easy to consider unrealised profits as gains in a way that doesn't exist elsewhere.

how do you decide when a position is not a good investment of your time/energy/money anymore?

what is the point on which you say: ok, time to move on. what are the most important signals for that?

Those are decisions I now make before ever entering a position. Follow a plan and move onto the next. 

There are exceptions and gut-feel changes of course, but as a general rule, it's best to know where your limits lie from the offset.

Depends entirely on the instrument. I'm broadly speaking about entries on established coins, so fairly rigid fib ranges for planning and withdrawing within shorter time periods where volatility and volume appears to recede. Ability to apply experience of that to whimsical items like NFTs and memes is the learned edge

that means determining which will be the point on which you will get out of the rollercoaster?

how do you decide that? what is your strategy?