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  • So I want to go to questions from you right now.

  • First of all tell me how do you rank yourself as a trader?

  • From 1 to 10, 10 being gecko on a good day.

  • One being him on an emotional day.

  • And what's your single because challenge.

  • Next.

  • You struggle with poor discipline and you get emotional about trading and how third what questions you have about defy and why do you think it will revolutionize finance and give financial freedom back to the people in four?

  • Would you like to learn from me on how to profit from what I'm calling the greatest dislocation of wealth in human history.

  • I'm going to the questions right now.

  • Please don't be shy wherever you are.

  • Leave me the first question ever.

  • And by the way, I want to give a shout out to Jared because he's the guy that just joined.

  • We appreciate you Jared.

  • We can't wait to get you all started.

  • Alright, great questions coming in here.

  • We got Adriana on instagram says, yep, you're right, stop loss is boss.

  • Wait, well said Adriana, you know that if you're not putting stops in on trades, which I'm guessing most of you aren't then um you shouldn't even call yourself a trader, you're a speculator, you're buying lottery tickets and you should have your account closed on you.

  • So put the stop in like a boss as Adriana would say.

  • So thank you Jonathan.

  • Giles on um Zoom says I'm learning absorbing as much as I can, I've lost more than I've made and I'm guilty of having diamond hands.

  • Thank you Jonathan, I appreciate that.

  • You know what how would you know anything better, Jonathan?

  • And that's that's the problem in the Cryptocurrency and defy markets, you've got a bunch of people that have never traded before.

  • They don't have any financial advisors and they're out there putting large amounts of money on the line.

  • They've been uh, they've been hit with these terms like diamond hands, right?

  • We believe in crypto, you're getting emotional about an asset.

  • Don't get emotional about an asset.

  • Alright.

  • You can have a long term vision.

  • I believe in the long term vision of defi I believe this is going to change everything and I'm invested long term into this infrastructure, but that doesn't mean I'm going to ignore my stop loss.

  • Okay.

  • And if whatever I own is down 50% on the day, I'm gonna stop out of it, I can buy it later.

  • Okay.

  • It's not like there'll be no more chances to buy it in the future.

  • So we're going to make intelligent decisions and Jonathan.

  • I appreciate you admitting that I got veronica see David on instagram saying you're the best.

  • Thank you.

  • I appreciate it.

  • Honestly, I feel so connected and congruent with this marketplace.

  • It feels like I can finally use some of the things I learned working in Wall Street in the city of London for over 15 years.

  • It's a part of my past.

  • I kinda locked into a box for a while when I was doing London real, but now it feels like I can add some value to all of you, which is great.

  • So it feels good.

  • I got Dylan.

  • Peter Sheldon on instagram says, brian, you're the man respect from Doncaster England.

  • Thank you Dylan.

  • I appreciate you.

  • I got City with a bow on zoom says in response To the where are you on a scale of 1-10 on the Gecko scale?

  • I'm a five.

  • I struggled with taking profits too early.

  • Great comments, if we appreciate that, what does he mean by taking profits too early?

  • Well, city is not following rule number one, the trend is your friend.

  • So say you buy Bitcoin at you know, 32,000 after it kind of hit the dip and it's coming back up.

  • You see it coming back up.

  • The trend is your friend.

  • He buys at 32,000.

  • But what happens with 50 when it gets to 35,000?

  • He thinks, oh no, it's going to go back again.

  • I'm getting scared.

  • I've already made 10% on my investment.

  • I shouldn't be greedy, I'm gonna sell even though the trend is that Bitcoin is going up again and again.

  • This is something I learned early on in my trading days.

  • If you don't take advantage of your winds and maximize those games on your winning trades, then in the long run you're going to lose money in crypto.

  • What do I mean by that Again?

  • As if he says, if you stop yourself out on your gains and say you only made 3000 a coin on that when you should have made 6000 a coin.

  • It means over time your gains aren't going to outwait your losses and you're going to be another one of these losing crypto traders that are a dime a dozen out there, 95% of you.

  • So if you don't ride the gains and ride your winners in an intelligent way, you'll never make it in the long term.

  • On the same note, if you don't stop your losses out early enough, you also never make money in the long term.

  • This is a very difficult game.

  • It's down to discipline, it's down to controlling your emotions.

  • But so is life.

  • All of my life is about me controlling my emotions and I'll talk about that in the next piece here, our final piece on trading.

  • If you can control your emotions, you'll win in life, you'll win in trading, and you're gonna win and defy as well.

  • So thank you.

  • It's a great comment.

  • We appreciate you.

  • Mhm.

So I want to go to questions from you right now.

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Do You Struggle With Poor Discipline ? ? “Don’t get emotional about an asset" - Brian Rose

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    林宜悉 posted on 2021/06/21
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