KOBE BRYANT’S 10 RULES:
1 Get better every day
2 Prove them wrong
3 Work on your weaknesses
4 Execute what you practiced
5 Learn from greatness
6 Learn from wins and losses
7 Practice mindfulness
8 Be ambitious
9 Believe in your team
10 Learn storytelling
Young traders. The goal of trading is to "keep it" (meaning profits). Making it means nothing unless you learn how to consolidate your gains. Riding some rocket up and then crashing on the same rocket -- that is not smart trading.
Stay long enough and it is EASY to make money in speculative markets - commodities, crypto, high flying equities. The HARD part is keeping it.
Next time you catch a rocket ride, REMEMBER, rockets run on fuel, and the longer a rocket flies the less fuel it still has on board.
Having gains for many traders makes them even more bullish on their chosen asset. They buy more -- and end up buying the top.
My advice -- do not pyramid and sell small amounts on the way up
That is my advice for the day
Again-I am NOT impressed with what someone makes in a 6 months, 1 yr or even 10 yrs. I don’t care what kind of cars you drive or watches you own. I have known too many traders worth 5m-20m wind up driving uber. Make it, bank it, reset it and do it again and again. Live below your means.
"In my whole life, I have known no wise people (over a broad subject matter area) who didn't read all the time -- none, zero." - Charlie Munger
Here's the Berkshire Hathaway Reading List (according to Kanbrick):