#B90X - DAY 41 - Retrospective on Market and Personal Psychology

b90x

#1

As we have talked before, retrospecting allows us to remember what we’ve learned so that it has a higher chance of getting ingrained in who we are!

We are on a long term mission to change ourselves, for the better. We must remember what we’ve learned, or we’ll be doomed to repeat our own mistakes!

Take a moment today and review the last series on market and personal psychology.

Tell us, what are the points that made the most impact on you?

Let us know below!


#2

Thank you my fellow CryptoNation familia for all of the good advice and thank you @peter for making us all better mentally. That is the most important part of this whole ride to da Moon…

PS in this video, the camera was having fun with your white teeth…kind of made them look platinum in color and bedazzling…like a crypto gansta!


#3

Keep it going! I know… funny optics. Like. Flashy gold grill!


#4

I enjoyed day 36 the most of out this series.
The way the market is described straight forward & realistically is super important.

When it comes to crypto, most wash out because of 2 reasons:

Thoughtless Trading

Emotional Trading


Statistically it’s been proven that long term-minded invidividuals not only earn more over time, but they obviously (last longer) in the game!

Markets need a fresh supply of losers just as builders of the ancient pyramids of Egypt needed a fresh supply of slaves.

LOSERS bring money into the markets, which is necessary for the prosperity of the trading industry!


#5

Yo! I’m still here! Been mostly lurking here at the Pub during this busy holiday month.

Looking back I’d have to say that ALL your points on emotional management have had a big impact on me since starting B90X and not just with cryptocurrency but with life in general.
For years I’ve struggled with PTSD and chronic depression and at first, I wasn’t sure if I should get involved with something that could influence my emotions so strongly. But after pushing through it I’m realizing that it has been a positive thing, it’s forced me to wake up and pay attention to my emotions, to get a better understanding, to be more self-aware. I’ve even started reading about emotional intelligence, amazing stuff, probably something they should teach kids in school.
Anyways… I’ve quickly learned that if you can’t get your emotions under control when trading or investing in cryptocurrencies then it’s going to be a rough ride and there’s a high chance you’ll get wrecked. Granted, it’s still a work in progress for me… slow progress but… SLOW progress is better than NO progress.


#6

That’s why I teach cost averaging. It’s not sexy but it helps remove emotion from trading! And keeps you in the game a lot longer!


#7

Absolutely! Makes perfect sense. That’s my plan for 2018, gonna DCA alongside you but on Wednesdays instead of Fridays, starting Jan. 3. I’ll probably post my sheet in the Pub so we can compare. For science! :rocket:


#8

Thank you for the summary. I know your told on day #7 at retrospective is essential to get better. KAIZEN!!! :grin:
This is the next step to master. Don’t forget the retrospect.


#9

By far the most important part to me of the last section, was how important it truly is to have a money making strategy, and GOALS most importantly!


#10

The most important points for me were;

  1. Create your own trading strategy (something I was working on before but it fell by the wayside).

  2. Avoiding fear & greed by doing research, setting goals (entry and exit points, I think staggering the goals is definitely best).

  3. Self deception! I knew this was a factor but what really stuck with me is that you said we lie to ourselves, especially when things are going well. I think this is probably one of the most important points, why would you want to think you’re wrong or you’re not invincible when everything is going well? It’s very counter-intuitive but you should definitely question your ideas and trades, especially when things are going well. I think over-excitement and exuberance often leads to bad trades.

  4. Managing emotions is also a really important one. I’ve started planning trades, writing down entry and exit points, then I take a break before making the trades. If it is a good trade, it will still be good in 5 or 10mins (I tend to make trades based on the 1-day charts, 30min candles are the smallest time-frames I use).

Thanks Peter for all of this, it’s great! Looking forward to the next section!


#11

All about the self improvement! Let’s go!


#12

This section really hit home for me. It was a great excercise in honest self-reflection. My approach will directly impact my outcomes, so it is up to me to be disciplined and be self-aware to raise my chances of success. The market is against us, so I must approach it as a level headed and cautious investor.


#13

We cannot control outcomes. We can only control what WE are willing to put in.