I know several investors who got wiped out over the past few months... during a bull market... and are now unable to participate in this rally.
It's sad, but it's a mistake that many (if not most) investors make in their journey.
Thankfully, I've never gone bust.
The crazy thing is that the investors I know weren't even shorting the market... they just got too greedy within the uptrend and were caught by surprise when a pullback occurred.
Too long going into earnings and caught by a miss?
Boom, gone.
Using leverage during a weakening trend and a sudden selloff?
Liquidated.
There's a big lesson there that you must try to understand....
Greed is the enemy of progress.
FOMO is the enemy of successful trading/investing.
The number one key to success in this game is giving yourself an opportunity to play the game!
You must survive.
If you go belly up, you literally can't play.
If you can't play, you literally can't win.
So how do you prevent going bust?
I know because I haven't, but I can't even put it into words.
You must embrace the journey.
You must not rush the process.
You must not trip over your own skis.
You must not operate with unbridled hubris.
You can be confident (and even cocky or arrogant), but you cannot dismiss your infallibility.
I feel terrible for the investors who got too aggressive, got wiped out, and are unable to participate in this rally.
I'm talking about the rally in equities and #Bitcoin & crypto.
$BTC is up +48% in the past 31 days, gaining +$30,000.
Stocks are at all-time highs, with the S&P 500 up +17.5% since the August 5th lows from the Yen Carry Trade unwind bullshit.
Individual stocks like $TSLA are up +47% since November 4... just 8 days ago!
Palantir $PLTR has gained +45.5% in 5 trading days.
This is game-changing money, without the need for leverage, without the need for perfect market timing, and simply accepting that short-term volatility is the cost for generating long-term gains (and even short-term gains, in many cases).
You must give yourself an ability to stay in the fucking game.
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