Thread by @EmperorBTC

5 Points to Retirement.

Want to retire in Crypto?
This thread might be for you.

How to make it with trading Crypto.

A THREAD.

I talked to @johnnie_jacks about his Crypto journey.

He won't say he has completely retired BUT Crypto has changed his life to an extend and he will be on his way to Retirement soon.

His comments are in '' Quotes '' and I have then added my commentary.

About Johnnie.

1. Caught bottoms and tops multiple times.

2. Invested early in many 100x including Solana.

3. Catches trends early.

4. TA better than 99% of CT.

This is all the praise I can do without being paid for it.

1. "Stop concentrating on making money. Concentrate on making a good trade."

Beginners are so fixated on
'Oh this is going to go up'
'Oh XYZ said this is a 100x coin'

They forget that they are supposed to take good trades.

What this means is, you're supposed to concentrate on taking bets on good SETUPS.

Find setups, not hopium.
Concentrate on good trading and forget about the money for a while.

2. "Make sure you have other source of income besides trading."

Johnnie runs a business whilst also doing Crypto and trading almost full time.
I would say that if you currently have a job, don't quit it to trading.
Learn to trade WHILE you have a job.

And once you get to decide to trade/Crypto full time, make sure you have another source of income that you can rely on.

Could be anything like Rent income, royalty, commission or any business that you're a partner in.

If you don't trade to meet your monthly bills, you stay sane and trade better.

So always have a second source of income.

Also, he didn't start with zero.
Saved enough money from business to start trading

3. "Don't add complexity too quickly. The best traders keep it simple."

Beginners tend to chase a new indicator, a new tool, a new system.

Try keeping things simple and slowly moving to new tool.

Tools are just statistics. Tools don't help, how you use those statistics help.

Just keep in mind, any system, execution of reliance on any tool should have a LOGIC behind it. That's all.

I see how much of TA being just voodo and feels like astrology.

No logic, no statistics = Garbage.

4. "Avoid leverage as a beginner. It is a tool to be used by experienced traders for specific reasons. If you use it too soon, you’ll lose money."

You can't use a drug unless you've learnt it enough. It's going to kill you soon enough.

Example- I use leverage to avoid exchange holding exposure. Don't rush into it.

5 - "Work hard and be patient. You’ll be a terrible trader for quite a long while. Be resilient enough to push though it and cut out the noise - the beginners who make it big, quickly are lucky and you can’t rely on luck."

No commentary needed.

As I could say, you can't become rich quick. People who become rich quickly either go insane or to prison.

I hope this had cleared a few doubts for you.
Getting perspective of people who do trading successfully is a good check.

See you soon week.