Life wisdom which I extracted from Crypto - Vol.2 Trading Aces
Trading is a fascinating game: chess, poker, and a video game rolled into one, enhanced by the roller coaster principle and flavored with few drops of citron on the top of it. Trading attracts people who love challenges. However, only a few guys who can stand out of the crowd can make a fortune out of thin air. These guys need to have a vast of experiences, handled their psychology, know the psychology of the masses, some input capital and some money reserve for critical situations, good risk management and most of all a working trading system suiting their needs and trading style.
These guys know the goal of a good trader, paradoxically, is not to make money.
Their goal is to trade well. They believe that money can be made anytime for a cost of time and effort. The experiences and the wisdom, on the other hand, are impossible to prize.
Prologue
Hello everybody!
My name is Mickey, also known as Tezkatlypoka from Reddit, and today you will read about trading and life wisdom of a friend of mine.
Let us take a look on his trading kungfu and let's learn how to avoid a string of losses or a single abysmally lousy trade which can set an end to your trading carrier (you do that by risking only a tiny fraction of your equity on any single trade).
Manual to this article: You have to read this article from front to back and show your grace. After all, that is how literature works, right?
(unless it is instruction manual, in which case no one reads them at all)
Trading Aces: YoungManWithaPlan
Play the soundtrack here
My first guest is a young man from the US, and I got intrigued to interview him because he is really easy to talk to and able to share his knowledge. Another mark of a great man in our guest portfolio is the ability to help others become as successful as himself.
You can meet him right here in his youtube prediction video which is very educative and funny at the same time.
Hello buddy! Thank you so much for accepting my invitation for a little interview. First of all, tell us something about yourself and something about a life you had when trading crypto or stock markets wasn't your daily bread.
I actually didn't get into trading at first. It was mining and some minor investments in the stock market that lead me into trading in the stock market.
After that, I learned about crypto trading and I can say its a blessing for it to exist as many methods used in the stock market are much more effective here in crypto.
How did you get into trading?
My first experiences trading were unusual, I made quite a bit of profit without any knowledge but evidently broke the streak and succumbed to some brutal losses. Many people quit after losses, but in your failures trading, you can gain plenty of experience to become a success.
Many people have got a great start when they arrive in this area, but they get drunk by early fame and crush a few months later. How was your first trading months?
I agree some people do get drunk on trading in crypto because it is such a speculative market but in the stock market its tough.
How many years do you think it could take for a man to become a successful trader?
It really depends on the person and their lifestyle its the traits you grew up with that can naturally make you a successful trader. So I don't think its a measurable amount of time. It's really who you are is what determines how quickly you can adapt to the market.
What was your breaking point from average trader to a successful man and trader who can do whatever he wants?
Discipline, it was the only thing I needed to learn. As soon as I realized the importance of discipline and persistence that's when I really started to grow and become what I am today as a trader and as a human being.
What are the key aspects a man need to embrace for becoming a decent trader?
This is a tough question, but again it can be summed up to discipline, patience, and persistence. Many people fail a couple of times and do what's called revenge trading or trading for the purpose of getting lucky to win back losses in a quick manner.
What method do you use for trading?
I use many things now I like to have a lot of tricks up my sleeve, so I'm always trying to add essential books to my library. Currently, I trade crypto using Elliot Wave, Basic Candlestick knowledge and some MA strategy. In the stock market, it's a bit harder, so I use VPA, EW, Candlesticks, and some chart patterns, trendlines, and volume.
What would be your top ten advice you could tell your son who wants to be a great trader one day?
Do it for yourself, not for the money. The best thing about trading is it can teach you life values and lifestyles to better yourself and the people around you. Personally, I get a lot of these values from a fellow named Jim Rohn who left his teachings for the world to learn from. He was an avid businessman and motivational speaker for all who amassed a vast fortune from nothing.
What was your greatest win and what was your most “redonkeylous” fail in trading?
Well, my greatest win would have to be everything compounded that I've acquired over time but the most in one single trade if I can remember, is 2500% on a leveraged BTC position. I've lost it all before so nothing can be more of a fail than that but I believe that failures will give you the experience
to succeed.
OK, we are ready now. Tell us your secrets. How to become a good trader and successful and man. Please, don't be shy and give us some paragraph!
There aren't any secrets all the information is out there, and most of it is free... However, you need to be passionate about what you do no matter what it is.
If you don't like what you're doing your not going to be successful in it. That's what I believe, but I do have a passion for the art of trading and yes I do like the money that comes with it, but I love the ability to predict. It might seem cheesy, but it's like being a wizard, and sure sometimes I'm wrong but those times I'm right are just great.
That's right. I agree. As an intelligent trader, you must realize that in the long run, no guru is going to make you rich. You have to work on that yourself, and you have to love what you. Then you are able to do it for endless hours and still feel full of life and motivation.
Tell us something about your ordinary and trading day.
Well, it's just like any other persons day except for the fact that I don't drive to work.
I walk across the hall to my office. I wake up at 5 in the morning take a shower and get to the charts watch pre-market for stocks and check my overnight holds for crypto. Then I do a few hours of trade, and sometimes I don't trade if the opportunity isn't there. At the end of the day I'm only really working for 1-2 hours and I usually just read until something pops up. Some days I don't even bother checking and go out for the day. I like to keep my life balanced between work and play.
What is the most inspiring book you have ever read?
Lots of reading and knowledge from people who have been successful in the field. As a kid, I read "The Richest Man in Babylon" by George Samuel Clason, and from then I've overextended more comprehensive books like Trading in the Zone by Mark Douglas.
What kind of advice would you give to younger Man, maybe still without a plan now?
Don't wish for things and make sure you enjoy what you do.
Thank you, my friend. Well said.
Alright dear readers, that's all from me to you for this day. Thank you so much for your time you spent with a reading of my article. It was a pleasure for me to have you here. Have a beautiful day and hope I will meet you here again soon.
(Prefer Tequila) at Telegram or shoot a shouted "Tweet".
Never stay tuned
Mickey