well pumpfun outright let kimchi to rape us 2 times back to back, not to mention the whole thing was a joke itself
so ig we should start to be a serial deployer
today i realize the longer i spend time on this blockchain the more desire i have to rape charts w/ as much supply as i can on multiple wallets w/ different funding source / timing + variance buy delay w/ different fees paid + activity
this space literally doesn’t care about u, nobody is ur friend, the pursuit of honor is dead. everybody is here for the money; ur sole goal is to nuke charts w/ with ur close circle and thats it
imo we should all have a healthy jealousy when u see ur fav traders or ur friends posting these insane pnls
we're all happy they've been cooking, but let's be a lil bit realistic here, a part of us wishes we could perform like that
like u should ask yourself, "why am i not up like this as well?"
and that's honestly fine. use it as a motivating reason to study their wins, sharpen ur process, and get better w/ ur own trading
just don't let this emotion get the better of u, or it'll backfire into fomo'ing into random shit. the moment u start forcing trades to catch up, that jealousy stops being healthy
and remember, comparison is useless, execution is all that matters, for you can be behind people for 11 months and bolt past them in the last month of the year
focus on urself 99% as always lads, lets win
today i realize the longer i spend time on this blockchain the more desire i have to rape charts w/ as much supply as i can on multiple wallets w/ different funding source / timing + variance buy delay w/ different fees paid + activity
this space literally doesn’t care about u, nobody is ur friend, the pursuit of honor is dead. everybody is here for the money; ur sole goal is to nuke charts w/ with ur close circle and thats it
#1 habit imo that helps u trade better is journaling
> why did u enter the trade?
- if it's a tek coin: what's the tek? is it working? is it unique or has it been done before? is the dev doxxed? is it a team / bd u've tracked before?
- if it's a meme / narrative coin: what's the narrative? is it getting the attention it deserves? who did u follow into this trade? who's likely to buy it later at a higher mc? where should the mc be if X, Y, Z did well before?
- if it's a tweet play, start thinking about selling right away. these plays usually don't have longevity
> what were ur thoughts during the trade?
- any valid vamps? correct ticker / image / name? the pairing and fees matter too
- who's buying? who's selling? do u wanna average up cuz u've done more dd and gotten more bullish, or should u reduce cuz it's not as good as u thought?
- if ur up, start planning ur exit once it's getting the attention it deserves
- if ur down, start thinking about cutting. sometimes the only reason u need to sell is that ur in the red. my hard SL is usually -30% on full size (-50% if trenching)
> after the trade
- did i execute it well? did i leave too much on the table by selling early, or did i get stubborn and cut too late?
ofc not every trade is worth journaling, but w/ my style i only buy like 3-5 coins a day, so it's not much work and it's been helping
idk why giver always uses high-level vocab to scare the hoes, but in plain english:
the worst advice in crypto is "bet big when you're confident". most traders can't tell a good coin from a bad one, so their "confidence" is just emotion dressed up as analysis. betting big only makes those emotions stronger, so you can't really think straight when you need to
only traders who've put in hours watching the scope every day for the last year or two, and seen/did tons of bad trades, can recognize a truly great coin. and those are very rare
same way good poker players don't go all-in on a feeling. they make lots of small, disciplined bets and only push big when they've actually read the table
it’s not THE worst but what has done the most damage by far on CT is the commonly espoused saying to “size up big on ideas that are high conviction.” someone says this pretty much every other podcast episode that comes out
it sounds great, and intuitively correct at first glance. so no one really digs into it, which may already suggest how complacent this advice truly is
the issue: most ppl have no idea on the procedure to build conviction & what degrees of separation exist, bc of a) the lack of reps and b) not knowing what a good rep looks like
conviction for many = a flimsy idea that cannot stand against 5mins+ of interrogation and is an extension of whimsical confidence
in simpler terms, “conviction” is just repackaged emotion, but euphemistically presented so that the trader feels like he is investing as opposed to gambling. and as volatile as emotion is, intensity is even more charged b/c of how much said trader has sized up on it (going thru oscillations of net worth). this of course ends up creating irrationality and emotional anchors to wealth… thereby also preventing a sober re underwrite of the situation, whether price is moving for- or against-. this is again of course dangerous on big sized trades
experienced traders can size up because they have a strong pulse of what 1/10 is, what went wrong, the iterations/professions of what that looked like, etc. the amount of risk ppl size up on suggests that great ideas come up much more frequently than they truly do - a 10/10 idea happens probably once every ~4-5 years. survivorship bias means you hear only about the shots on goal that worked
yo what about 5-10 SOL port my nigga? Any tips
Once you sustain $5-10m net worth, you've made it. Almost. Rich enough to be comfortable, poor enough for one bad bet to send you back. Here's what actually changes at this tier, and how to get to $25m 👇
-Self-funding, barely. A 3% draw on $7.5m is $225k/yr pre-tax, ~$150k after. You can quit but probably shouldn't. Earned income is still the cheapest capital you'll ever get plus it’s more reliable.
-Risk capacity is real but finite. A venture bet going to zero is a bad year. Size so the worst case costs you a year or two, not a tier demotion.
-Borrow, carefully. SBLOCs work here, just at worse spreads than the private bank crowd gets. Keep LTV under 20% so a drawdown doesn’t become a margin call.
-Skip the fancy structures. Estate exemption is $15m per person. You don't have an estate tax problem, you have an income tax problem. QSBS, solo 401k, tax-loss harvesting, no state tax residency or Puerto Rico if extreme/mobile. Boring, cheap, compounding.
-Claude Max is 0.03% of your net worth. Fading the singularity at this tier is a choice.
How to get to the next tier: 👇
one tip that's helped me a lot w/ selling or exiting a position i'm in loss on is to ask myself:
> is my thesis still valid?
> knowing what i know now, would i still buy this coin at the same size? or would i cut / reduce my size?
> is hope my only thesis, or is there real reasoning to back it up?
> do i just want to be right, or am i open to admitting i'm wrong?
(ofc these questions only matter after u max out ur research. knowledge is power: dd on twitter, google, gcs, ask ur friends, ask qs in groups, check holders, new buyers, etc)
as traders, we should always aim to protect our chips. play defense 90% of the time and only bet when we have a good chance of winning
attitude
as cringe as this sounds, you have to believe you can actually make money from this, and be willing to learn from your losses, fix your mistakes, and improve
always stay grateful, calm and humble
we're all blessed w/ the privilege to gamble on internet shitcoins :)