After eight years in crypto, the speaker says emotional control beats any strategy, and copying others' trades guarantees losses. He warns that without roughly $250k and years of experience, relying solely on trading income will fail. Rare skill and extreme selectivity matter more than following the crowd.
Here's 8 years of investing wisdom in 3 minutes. If you don't humble yourself, the market will humble you. 90% of trading or investing is emotional control, not the strategy. It is literally impossible to follow somebody else's trades without losing money. The ability to identify opportunities in the market are more important than a strategy because the strategy is derived from identifying value in unique places. The strategy in investing or trading always change, but the ability to identify value in unique places That's a skill that you can rely on and build. If everyone knows the strategy that you are learning, then the cat's out of the bag. It is not a rare strategy. Therefore, you will not make that much money. The rarity of the strategy is equivalent to having a rare skillset in trading. So basically, if you're the only surgeon in all of Florida, they're gonna pay you a lot of money to do surgery. It's the same thing with trading. If your skillset is rare and not too many people know about it, Well, that's a good strategy. The quickest way to make money off of trading or investing is emotional control, and you could actually build your emotional control. You can avoid your feelings and you can move based off of strategy and not feelings. Winning in trading is the same thing as developing character in life. How could you expect to make money off of trading? How could you expect to make good decisions If you can't even make good decisions in your own personal life, you will go to and fro like wind, and your trades will either be really, really greedy or really conservative. If you can't control yourself, how could you control anything in the external? Trading is about saying no 10 times more than saying yes. If I have 100 opportunities on my table, I wouldn't even waste my time with 98 of them. The more attached to money you are, the less chance you have of making money. If you need the money that's in your trade, you set yourself up for failure. If you're first starting and you have no other income and all you're doing is trading, you set yourself up for failure. Never try to be financially independent only trading unless you have at least a quarter million dollars ready to go and at least 2 to 3 years of experience. And that hurts a lot of people. It'd probably be wise to read as many investing books as you possibly can. And use ChatGPT to essentially analyze all of the new financial laws. You need to be up to date with what's happening right now, not what your group is saying in the Forex day trading thing from a year ago that the course was created and the guy's not really trading. Don't do that.
