Back in 2020, the crypto world and blockchain caught my attention for the first time. Admittedly, I was a bit late to the party – a baby boomer navigating through this new frontier. Bitcoin and Ethereum would pop up in conversations, but I don’t really know what it was or what it’s used for.
My trading journey kicked off like a warrior charging into battle without armor. I entered unprepared, hastily opening a Binance account and burning money recklessly. The hype had me in its grip, and the toll of trading psychology hit hard, one loss after the other and there I was revenge trading once again with no concrete strategy and plans in mind. Despite the initial sadness from the losses, I didn't take it too seriously. I hadn't invested enough time to learn the ropes or develop a solid trading plan – my biggest mistake.
Soon after, I burned through my first account and shifted my focus to web3 blogging on Hive. Writing and interacting felt like my forte, so I left trading behind for a while. But my partner didn't give up. I watched as he dedicated hours daily, crafting different strategies and investing significant time and effort in building a case study through years of backtesting data.
He didn't give up on me either, He kept me in the loop, discussing his trading strategies, highs, and lows. At time, trading is all we talk about, the endless possibilities once he becomes a consistently profitable trader, how big of a port we need, how much value at risk (VAR) should be the ideal amount to trade in order to reach the goal and so on and so forth. Our day to day life consist of talks about MACD, Moving Averages, Candles, Timeframe, Coins and all the market trends. Gradually, I began to grasp the concept and potential of his trading plan.
My partner is working full time in the office and one of his struggles in terms of trading is being unable to manage trades due to work commitments. I started helping him out with stock screening and assist in doing trail stops for his open positions when he couldn't. The thrill of seeing unrealized gains hit predefined targets fueled my excitement.
Now fast forward, thanks to his guidance and patience in teaching me all that he know about trading, I regained my confidence back, and I'm now making my own stock picks.
And now I funded my portfolio once again, armed with the strategies and psychology I've learned, I reentered the field more prepared and bolder.
Indeed, teamwork makes the dream work. While the journey ahead is long, we'll celebrate the small wins along the way.
How about you? How did you start trading? What pushed you into this adventure? Share your story!
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