A Letter to Myself in 2024: 15 Insights for Traders, from Mindset Management to Seizing Opportunities

Author: ML

Compiled by DeepTechFlow

Memo to Myself: 15 Important Lessons from 2024

Do not be afraid to try those opportunities that may not seem obvious at first.

Do not ignore certain potential opportunities due to laziness, unfamiliarity, already holding other currencies, or participating in competitive currencies, etc.

Be cautious of various recommendations on Crypto Twitter (CT). When analyzing opportunities, it is essential to think deeply and reason at multiple levels.

Believe in your analysis, trust your instincts, and take responsibility for your investment decisions: the ultimate profit and loss (PNL) is borne by yourself.

Do not compare yourself with others: try to be happy for those who perform better, and learn from their experiences at the same time.

Learn to manage emotions: Impulsive or emotional decisions often lead to bad consequences.

Find a balance between sticking to your beliefs and accepting new information.

Play to your strengths and avoid blindly imitating others' trading styles. There are many different ways to make money in the market, and it's crucial to find the one that suits you best.

Accept small profits or losses, but cannot bear huge losses.

Missing out on life-changing wealth is a common experience (don't let anyone tell you it's wrong), but be sure to learn from it and avoid repeating the same mistakes.

Discover and understand your cognitive blind spots, such as the "endowment effect" (which means we tend to assign higher value to things we own and underestimate things we don't own).

Treat others well, do not belittle others, and try to help those who seek advice from you. No matter how much wealth or status you have, do not change your nature and the way you treat others.

In the market, choosing to sell actively is far better than being forced to sell.

Opportunities are like buses on the street, there will always be another one coming. Don't be disheartened by missing one opportunity, the market is never short of new possibilities.

No matter how good the idea is, it is ultimately worthless without effective execution.

Wish you all a Merry Christmas! Looking forward to meeting again on the order book!

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The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
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