/biz/ - Business & Finance

>>11416145
Lots of traders and gamblers are exceedingly good at getting a run started and then it's like a switch goes off and they lose it all. There is something that changes in your thinking and focus when you reach a certain threshold. I don't want to put words in your mouth, only you can figure out what your specific deal is. As an example, I notice that when I've got some winners and I'm up big, I begin to think less about the mechanics of the trade (or the card game, I love poker), and more about how I could make EVEN MORE (or LOSE IT ALL). This has a few consequences, but usually I start to take positions that I wouldn't when I'm in a winning frame of mind or I up the stakes for no reason AND blow up everything in a fraction of the time it took to build it all up. I haven't figured out how best to avoid this for myself, so don't ask me how to fix your problem, but I know for certain that your struggle has to do with a change in how you evaluate the situation because of how you handle wins.

>>11416265
Yes, exactly.
I have had countless runs of 200-1k up to 10k-20k, literally 10+ times it's happened and I've always had the fast runup followed by an even faster decline to $0
It's almost like a drug. When you're way up you can't fathom losing so why not press your bets higher. Best thing to do is walk away for 3-5 days or more and come back with a fresh outlook. And then try to run it up again. But it's hard.

>>11416145
you're getting too greedy after a good trade/bet

>>11416145
Have you read the Disciplined Trader by Mark Douglas.
He talks a lot about trading psychology, and one problem people have is self-sabotage.
There might be a part of you that believes it's immoral or wrong to have a lot of money, so that part of you fucks up on accident but not really.

https://www.tradeciety.com/self-sabotage-you-do-it-and-its-destroying-you/

>>11416328
Do you notice it while it's happening or only in retrospect?

>>11416342
I know
I should just take a break, take a deep breath and relax. Winning 12,000 in less than 2 days is crazy. Basically free money if I don't piss it away. But the urge is to turn the 12k profit into 100k profit. I should just stop and buy link and be patient. I had 70k link now only have 12.5k due to dumb trades and other bets lost. I could recover to 40 or 50k link with a bit of spare cash and just wagecuck, pay my bills and wait for link to go up

>>11416359
Yes I'm posting because I'm actually way up, not down. I had $5k to my name Saturday night and after a series of big wins I've run it up to almost 20k total now. I won 5k today but I just feel a sort of buzz like I need more. But if anything I should be taking a break

>>11416372
Then take a break. Sounds like you know what you need to do. Good luck bro

>>11416145
When you bet your initial amount + your winnings, you inevitably go to 0. I know too many brainlets who do this.

>>11416346
I do think it's subconscious for me
Like I don't deserve anything good to happen
But then after I blow a large amount I snap back to reality and try to recoup what was lost
If I could just maintain the initial attitude I'd be fine
It's almost like when you're hungry, you're focused on getting food. And then after you eat, you feel tired or relaxed or just not hungry. So you don't care about food anymore. That's kinda how it is for me with money, gambling, crypto, only in a horrible reverse way. Like I have to puke up everything and then get full again.

Read this book https://www.amazon.com/Misbehaving-Behavioral-Economics-Richard-Thaler/dp/039335279X

>>11416715
Yes I'm never satisfied. If you told me a year ago I'd have 70k link that would be amazing. And I had it, but felt the need to swing trade not just a portion but my entire stack. Of course after I sold it mooned so I bought back in for a loss, then it dipped so I tried again after a few days and got btfo again. Funny because I had a few good trades to start which netted me an extra 10k link to get me from 60 to 70k

The title is misleading. Success seem to be the last problem u need ro worry about.

U should of easily done better in crypto. My suggestion is if you emotionally cant seem to handle short term trading u think more like long term investments and hold. The best gains are in slowburners and just timing the market cycles than quick gains.

>>11416737
Buy a nice stack of links and leave it. Have a smaller account that you gamble with.

>>11416733
Ordered it along with a few other related books. Thanks anon good suggestion

>>11416785
Well I have success and then fuck it all up
Short term I can turn 200 into 7500 playing poker or betting sports because I'm hyper aggressive and take chances. But I don't know when to stop.
I'm also fairly ahead of the curve when it comes to certain trends, like crypto. Actually buying btc below $200 seems crazy now and I was doing it. But I didn't have the discipline to just wait. I made a quick 50% and sold and gambled like an idiot

>>11416786
Yeah the idea is solid. Buy 50k link and literally don't touch it and just wait for staking. But then if I bust my other account I know I'll dip into my link stack because I have no self control sometimes

>>11416809
Trade with smaller amounts. It's pretty much impossible to bust an entire account if you're smart with it. Get small percentage gains and watch your account grow.