paddy

trading journal

[paddy @paddyjpeg]

“Happiness = Reality - Expectations”

- Elon Musk

[The Transcript @TheTranscript_]

Druckenmiller: "My advantage is not IQ, it's trigger pulling. I admit it’s some kind of intelligence. But my mother-in-law says I'm an idiot savant. I wasn't in the top 10% of my class. A lot of people think I'm smarter than I am because I'm good at our business. But I have a very narrow form of intelligence that allows me to love and play this game."

[Lone @lonextrades]

Qullamaggie on Darvas Figured Out the Secret to Big Winners

“And that’s what Darvas did too. He figured out early that the best way to find big winners, is to wait for a stock to double. Because a stock that’s going to go up 1,000% has to double first. Think about it.

He built a trading methodology around that concept: fast-growing stocks in new emerging industries that had already doubled.

It’s genius, it’s amazing. He figured it out 50 years ago.”

[Championship Rounds @ChampRDS]

🗣️ Khabib Nurmagomedov:

“Sometimes discipline is not enough, [it’s] all about sacrifice… If you want to become the best, there is no family… you have to sacrifice.

Islam, Umar, Usman, myself… we sacrificed all our life to be the best.”

🎥 @espnmma

[paddy @paddyjpeg]

Traders selling every bag to take out $100K $BTC.

[paddy @paddyjpeg]

If a top 20 coin can do this, then all our targets are fud. $TRX

[paddy @paddyjpeg]

Market participants fomoing into every other dinocoin because of $XRP ATH

Very similar to the rotation from $DOGE to $PEPE and $WIF last November 13

Expecting a day or two of this dinocoin rally then a pullback across all markets with $XRP

Dips for buying

[The Founders' Tribune @foundertribune]

How to be Elon Musk by @justinemusk

[Ansem 🐂🀄️ @blknoiz06]

I AM ABOUT TO WALK INTO THE MOST ABUNDANT BALANCED WEALTHY AND SUCCESSFUL PERIOD OF MY LIFE. I NATURALLY ATTRACT GOOD FORTUNE, AND I AM WEALTHY IN MORE WAYS THAN ONE. I GIVE MYSELF PERMISSION TO PROSPER, AND I HAVE THE POWER TO BUILD THE LIFE THAT I DESIRE.

[paddy @paddyjpeg]

$NEIRO and $MOODENG acting like the new ETH / SOL beta plays

[paddy @paddyjpeg]

We're almost there

[blanc @blancxbt]

not even Capo is interested anymore in this market

its truly over

[Loma @LomahCrypto]

Never seen anyone in crypto make life-changing money, from nothing, as a perma-bear.

In this game we currently play:

Pessimists and cynics get to be right.

Optimists get to be rich.

[Cred @CryptoCred]

The best trade management advice I ever received:

"Give your trade some room to breathe."

Sounds simple, but it contains some key lessons:

1. Don't use stops that are unnecessarily tight. Unless your entry is godly or the setup justifies it, give yourself a bit of space to be wrong. Especially if you're trading altcoins with leverage - you should expect wicks through even the 'best' levels. That shouldn't invalidate your entire idea.

2. Don't rush to manage the trade immediately. If there are at least a few % until your target/invalidation, don't worry about small moves in between. The initial reaction may be important, but even on intraday time frames it's common for the market to range, retest your entry etc. before playing out. This is especially true if you're trading high time frame levels and targeting high time frame moves - give the market some time and give yourself a chance to be right.

3. Overmanaging is a symptom of oversizing. If you find yourself glued to your PnL and the 1 minute chart - accompanied by feelings of anxiety and regret - you've either opened your archived WhatsApp messages in front of your girlfriend, or you've risked too much on something mediocre. The looming threat of an outsized loss will make you paranoid and jumpy, leading to poor trade management decisions. To use a practical example, I've seen traders go from unprofitable to profitable just by switching from perps to spot (even though the latter is more expensive to execute). Trade the chart, not the potential PnL.

4. Be wary of break even. Moving to break even does not make the trade "risk-free". The risk is that you get stopped out on a perfectly valid setup that should've made you money if you were more patient. That risk is compounded if suddenly your best setups turn into break evens and you have the same number of losers - that's how you erode an account. Save the break evens for specific circumstances (if any) - extraordinary entries that shouldn't be retested if your idea is correct. Otherwise, avoid their allure. In basic TA terms, a break even stop on a long at support = order to sell support. A break even stop on a short at resistance = order to buy resistance. Forget your own position for a moment: would you take your stop order as a separate trade? If not, reconsider. You're not that important, the market doesn't care about your specific position.

Also GM, TL;DR, post ticker etc.

[Loma @LomahCrypto]

Of course traders start philosophically posting life wisdom after a year or two in the game.

It’s right about the time when you start to realize that your trading mistakes are usually reflections of your flaws as a person.

Greedy, hot-headed, or impatient as a person? Good chance it shows up in your trading as well.

I love seeing it cause it’s the transformative period in a trader’s journey. Some people never conquer those demons, some do.

That last mile is the loneliest.

[paddy @paddyjpeg]

a lot of hopes, dreams and Tomcats destroyed during this consolidation $BTC

[paddy @paddyjpeg]

last flush before the halving pump?

please for mi familia

[Ansem 🐂🀄️ @blknoiz06]

bottom

[paddy @paddyjpeg]

israel bombing my solana longs smh

[paddy @paddyjpeg]

ongoing narratives
1. memecoins
2. solcoins
3. dinocoins

apart from $DOGE, CT's been silent about the 3rd narrative, eyes on upcoming ETFs

[paddy @paddyjpeg]

there is no second best

[path.eth 🛡️ @Cryptopathic]

Sold for 1,210 ETH ($4.3m) to GCR