Mindset
- Setting Goals, Consistency, Lifestyle (health + DISCIPLINE),
- If you don’t have discipline in other areas of your life, what makes you think you’ll be a disciplined investor?
- Develop successful habits
- Cash flow is king
Action items: Read the Bitcoin Whitepaper (discipline), Get notion if you haven’t already. Write down 3 tangible goals you want to achieve in 3 months, 6 months, and 12 months. (profitable trading PnL, 3 successful investments, better understanding of tokenomics).
Why are some investors better than others? Why are some traders better than others?
The same reason some golfers are better than others.
It’s because, like anything, investing is a skill. Trading is a skill. You must practice and study these skills if you want to get better at them.
Of course there are some elements of luck and natural ability, just like in sports. But the vast majority of it simply comes down to practice.
Too many people approach crypto like a hobby, a lottery, a casino. Anything but what it actually is: a skill.
Not us. We win because we practice. We grow. We learn. We get better every single day.
Good investors make it look easy.
Tiger Woods in his prime made winning look like a walk in the park. He’d regularly win tournaments by multiple strokes completely uncontested by the competition.
But the amount of practice he put in behind the scenes was unrivaled.
In his prime, this was Tiger’s training routine:
Wake up, run four miles, lift weights, hit balls for three hours, play 18 holes, work on his short game, run another four miles and, if someone else was down, play basketball or tennis.
Just like any skill set, we have to strive to improve daily. Set goals. Be consistent. Show up every day. Create habits that make you a better investor.
What does this approach look like when applied to crypto?
We do not all have the luxury of spending all day studying crypto, so I have made a list of productive activities that you can routines below that match different levels of time commitment. You can be more efficient by multi-tasking (listening to informational/education content while working).
- checking charts, prices, & current trades
- Browsing informational content (Discord information flow channels)
- educational content on YouTube
- rabbit-hole research
- technical analysis on watchlist