Thread by @IDrawCharts

this is a shot at chamath lmao

but also highlights importance of trade conviction and sizing

common advice is to gradually scale out of winners, but if you're early in something and it's starting to prove that it'll deliver?

double down dude

obviously VC and PE work a little differently than slinging shitcoins

but for those of us doing the latter, we have the ability to throw tiny amounts of money at a ridiculous number of projects very early

if they fail, so what, it was tiny. But the ones that start to succeed...

...usually have a greater chance of continuing to do so

a coin that is up 100% in 2 months is much more likely to be up another 100% in the next two months than a coin that hasn't moved at all.

it's counterintuitive, but it's true

so when you start to win, fucking squeeze that opportunity and do your best to win big

don't handicap your upside as soon as it starts to arrive, increase it!

otherwise it won't matter how many things you're early to.

Nobody hits homeruns by taking half-assed swings.

the vast majority of my success in markets so far has come from 7 trades out of the thousands I've taken (ordered chronologically):

long $SHOP
short $ETH
short $ADA
long $BTC
long $FTT
long $BTC
long $SOL

each one of these trades took me to a new level in my portfolio/career that would otherwise have taken years to achieve

there's nothing wrong with piling up small wins

but every once in a while you get the chance to level up in a big way

be ready to milk them when they arrive