Why traders loose or become more afraid of trade they take is that they don't stick to one strategy.
One SL from their strategy they are already looking for another strategy to jump on lol ๐๐
I just understood something
You just made your first $1M. Your brain immediately jumps to the bigger house, the nicer car, that business idea youโve been itching to execute.
Resist all of it, that instinct is exactly why most people who come into money are broke again within a few years.
The move nobody teaches you: do nothing.
Let it sit. Donโt deploy it, donโt try to flip it, donโt show it off. Park it somewhere safe that pays you while you think. Lock it into a 2โ3 month yield-bearing instrument e.g T-bills, low-risk positions, safe and battle-tested protocols.
Youโre not trying to get rich off it; youโre already there. Youโre buying yourself time to think clearly and getting paid to do it.
Run the numbers. $1M at just 5% APR:
โ $50,000 a year โ $4,167 a month โ $137 a day
Every day you wake up, $137 landed in your account. You didnโt touch your principal. You didnโt lift a finger, and if that 5% compounds daily, youโre closer to $51,200 a year, the money starts making money on the money.
So before you spend a single dollar or naira, ask yourself one question: can this purchase pay for itself from the interest alone? If yes, youโve earned it. If no, youโre eating your seed.
Anyone can GET money. Keeping it is a different skill entirely and it starts with the discipline to sit still while everyone expects you to splurge.
Sometimes parking it and letting it pay you is the best play ever. This is from experience, donโt joke with your once-in-a-lifetime SEED when it comes your way.
Elon Musk in 1990. This was his first suit and it costed $99. He couldn't afford a second suit, so he wore the same suit every day to work.
Today, he's worth $1.3 trillion.
Never give up!