On vacation trying to be offline.
Logged on this morning to see some real blood.
Not much to say here I guess, a once in a 7-10 yr event, hard to know where the immediate next move is in these types of markets.
But stocks should be toast until Mid Sept imo, with a good rally at some point in between now and then. Will just look like a deeper cycle pullback by the end of it.
Then we probably will need to see some solid macro data first and the fed response to see if this spills over into another weekly cycle (Sept - March) to become something deeper, like a cyclical bear market. Any sharp rally at some point not a bad idea to reduce equity exposure.
At least this is not a crypto specific event, but like all assets caught up in the liquidity phase. Lots of variables here, but I think bitcoin can act well once the immediate panic and cash need subsides. I’m sticking with my view this 4yr cycle still has upside exploration, but has headwinds to early Sept as previously discussed. At least we finally got a 30% decline (on washout volume) in a bull market, where most thought it was ‘impossible’ in the etf age. And Meh ‘halving’. Just sitting tight. Going back offline for the week.
About 3 weeks ago, the media told you that Biden was “sharp as a tack” 🙄
2 days ago, the poor guy was basically forced at gunpoint to resign as Dem nominee. His staff weren’t even informed.
Now they say Kamala is the best thing ever 🤦♂️
Hey traders...
Have you ever noticed that...
When a trade is going in your favor, then you own too little...
but...
When a trade is going against you, then you always own too much?
Focus on the things you can control.
- Be more disciplined than a monk
- Be more patient than a saint
- Have a plan as solid as a rock
- Have a process smoother than butter
- Have an attitude that's sunnier than a tropical island
I've worked with hundreds of traders.
99% of the time, their trading strategy or system has a statistical advantage.
But the thing that holds them back is their thinking, perspective, and overall mindset.
Nature/physical experience based companies will only grow in demand. Nothing will replicate IRL and the need for detachment.
Travel, theme, entertainment.
I'm an introvert.
And one of the reasons why I became a trader is that, unlike most professions in life, you can do it completely alone.
Success or failure depends entirely on yourself.
Fall in love with the process of placing good trades, not the goal.
When you fall in love with the goal, you desperately try to reach it prematurely by doing things you shouldn't be doing.
Want to feel happier today?
1. Close your eyes
2. Imagine a time when you were proud of yourself
3. Imagine a time when you were truly happy
4. Imagine a time when you felt truly loved
5. Go back to number 2, fully recapturing the feeling of that moment
6. Do the same for number 3, piling it on top of the memory of when you were proud
7. Now do the same for number 4, fully embracing that moment and stacking it on top
8. Now feel truly grateful for those moments
9. When you feel down, remember the feeling from number 8
Some hippy bullshit? Maybe it seems that way, but I promise you it works.