As the Chinese saying goes "知己知彼，百战百胜". It means that in order to win you must recognize what are your edge over others - such as what do you know but others don't know, what skills do you possess which others don't have, what's your investing temperament, what tools / assets do you have and how adept are you in using them.
If you are always copying others' actions and could not think for yourself why you chose to do what they did, then you will never find your edge. You can't win by copying Warren Buffett, you can't win by copying Peter Lynch, Donald Trump, your favourite blogger or anyone else - because they each played a different ball game with their own edge.
When you have found your so-called edge or methodology to win, test it out repeatedly and fine-tune it to your maximal ability. If you find that what you have been doing is NOT helping you to achieve your goals, then stop, erase and start over. Don't wallow in the sunken costs.
Quoting Albert Einstein - "Insanity is doing something over and over again and expecting a different result."
You could start by finding your circle of competence in the market then slowly expand the circle by reading, practicing, having a mentor and keeping your own investing diary.
In the market, great fools sell to greater fools, great fools buy from greater fools... when you get richer, somebody else gets poorer. Find our edge to be the lesser fool and be our own master in the game we chose to be in.
Hi Uncle8888, Then you must be neither of them. Probably the Kungfu panda master somewhere in the mountains (you could choose to be like/ beat any of them).
I have been watching the bearish market unfold on the sideline, one that whacked almost every single asset class except for oil. Gold was not spared either as its price is sensitive to the Fed's rate hike. (Since it is mostly used as an inflation hedge in an investment portfolio, the non-yielding asset will have continued selling pressure if Fed continues its interest rate hike.) The worst of the bear-beaten lot must be cryptocurrency. Summer seems officially over and I don't know how long will this winter lasts. The massacre just got worse these few days. I was too confident and complacent last year to not harvest a fair share of profits while the sun shines. At the beginning of this year, I still DCA-ed into a few of them and thought maybe the sky was just... cloudy.. Until the hail storm comes, I have finally awoken to the fact that it is really winter now and how one catastrophe can trigger huge ripple effects. Some of my holdings with biggest price percentage decline: List
Richard Coffin @ The Plain Bagel Quoting - "Often I ll see someone promoting FIRE as something that comes down more to mindset than your circumstance as though it's something available to everyone." Quoting - "Whether it's worth taking the risks and downsides associated with FIRE comes down to your own VALUE ." My takeaway on whether FIRE is for one or not is very simple - Can FIRE bring you what you desire and enjoy in life? Related posts: Retirement planning 3 ways (NOT) to be a post-retirement sluggard Thoughts about Financial Freedom part III Thoughts about Financial Freedom part II Thoughts about Financial Freedom part I Like what you read? Follow me on Facebook or Twitter for updates and news I dig. Check out my referrals for fantastic sign up bonuses on SAXO, Moomoo, Gemini, Celsius, Blockfi and more. 🤗 Thanks for reading!
Among many great crypto articles I have read last year, I have curated three of which I felt are still relevant to date and very insightful. If you are looking to read more brain-stimulating articles, you could also check out my recommendations in the Weekend Brain Food series (mostly are non-crypto related). So here we go. Trading the metagame "Watching the winners & locating the problems in crypto can be a way of identifying potential metagames in advance." "Sometimes you can simply see that you missed the current meta and use that info to exit positions that are out of meta to preserve value , or just take a break and restore mental energy. As the meta and attention shifts to new things, capital bleeds out of previous metas. People sell the last meta they fomo’d for the next one. It’s a video game. Players want to play, they don’t want to be idle. Traders use the meta to exit/rebalance longer-term positions. If you had a big position in some token, which sudden
What is Curve Finance? Before we dive into the tokenomic, I would recommend reading this article as a primer if you are not familiar yet with the Curve Protocol - Three minutes to take you to understand Curve Finance, the king of stablecoin trading platforms . (The article took me about 13 minutes to read instead of 3!) [I have purposely coloured the texts of various tokens such that it is easier to differentiate them as you read.] CRV is the native token of Curve Finance and distributed as reward for providing liquidity to the protocol. Now let's take a look at the brother protocol of Curve which serves a different purpose - Convex Finance. What is Convex Finance? It is a protocol that allows liquidity providers to earn trading fees and claim boosted CRV without locking up CRV themselves. Liquidity providers can receive boosted CRV and liquidity mining rewards (on Sushi) This means that one can stake their Curve LP token with ConvexFinance to get Convex LP tokens and then stake
Investment and Trading Mr market has once again sank into lackluster mode since news of the Omicron spread. I think it's still too early to buy the dips as threats that Omicron poses to countries' economy re-opening remains to be seen. Although we see some glimmers of hope with the new COVID-19 treatment pills in pipeline. With FED's bond purchase tapering, "hot money" flow will decrease which might deflate a bit of the Mandrake's tent and rising interest rates might lessen indiscriminate spending. But will inflation of staples due to supply chain disruptions get readily resolved with less money printing? Hmm... Crypto I began to read up and learn crypto stuff seriously only this year - a late awakening. I started on crypto platforms like Gemini, Crypto.com, FTX and Celsius , finally ventured out to the once-elusive Defi world and dipped my toes into tokens other than BTC and ETH. Crypto (stablecoins included) formed about 20% of my investment portfolio. You
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All. How?
ReplyDeleteHi Uncle8888,
DeleteThen you must be neither of them. Probably the Kungfu panda master somewhere in the mountains (you could choose to be like/ beat any of them).