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Hello Michael,
My name is Ryan and I’m 29 years old. I got “into the market” about 4 years ago when I went the Buffett route and bought some shares in a start up. The company is a gateway for influencers to find out their current rate and find advertisers that will work with them. Put $500 in and the company is still gojng but I have zero clue as to what they’re doing or how much my shares are worth.
Skip ahead two years and I FOMO’d into Bitcoin on December 17 2017. The day Buttcoin hit it’s all time high. Well luckily I didn’t really want Bitcoin but I wanted “the next bitcoin” so I split up $1000 and invested in Tron and Ripple off pure fundamentals and they took off. In 3 weeks $1000 was now $5000, I didn’t sell because I didn’t know how. I have been “trading” for a total of 3 weeks. I think I sold a week or two later and my portfolio was now worth $1500~.
Then we entered the bear market. I have learned so much because of it too. My first big lesson was easy, buy and hold is terrible and doesn’t work. The Crypto community has adopted “HODL” as a meme / serious suggestion. A drunk holder typed HOLD misspelled on reddit, it caught on and now people have lost all savings and continue to dump into shitcoins.
Fundamentals are stronger in Crypto but it’s clear bots are setup to purchase coins when the ticker is mentioned. It’s rigged.
Over the last two years I have read over 50 books on trading. The first book I read was Trend Following but the spirit of the Crypto Twitter crowd makes you want to trade trade trade! Never a dull moment. It’s very day tradey and panic stricken. So I avoid trend following for about a year and a half.
I tried Eliot wave. Fibonacci. Cup and Handles. It’s all bullshit!
When I got to The Turtle Traders, which I didn’t realize at the time that you had also written Trend Following, i got very inspired. I think we sometimes wait for life to give us permission to do something. I knew I could be a professional trade and the Turtle Traders were the confirmation that it doesn’t matter what your background is, if you have a passion for this and a willingness to learn you can do this.
Trend following is amazing and it’s really funny it took me so long to accept its awesomeness because, like Larry Hite, I’m a trend follower through and through. I don’t follow societies trends at all, actually I’m probably counter trend and constantly fight back against group mind think. But when someone is a shithead for 3 / 4 instances, chances are they’re a shithead and I’m just going to go on my own way. I have tried fish a few occasions and I’ve hated it, I’m not going to continue trying to catch the knife on my pallet changing and I’m just going to order anything other than fish. Short fish.
I’m an incredibly structured and rule based. I see a lot of things black and white and that’s helped me.
Here’s what’s tripping me out the most. What does your day to day look like?
I currently have a full time job and I put in as much money as I can into my portfolio. I balance it at least every two weeks when add into it. I look at it everyday but that’s just because I love to watch it move. If adjustments need to be made they will but currently it’s looking like I spend roughly 30 minutes a day looking at or adjusting the portfolio on average. One day, preferable yesterday, I would like to “retire” and just follow trends and explore the world more. In the event that I do get that luxury, is that what my day looks like? Make room for 30 minutes of checking for any “out of this world” moves in my current portfolio?
Sorry this was so long… I’m on episode 75 of your podcast and I have probably listened to the last 100 of the most recent so i kind of feel like I’ve been hanging out with you a lot but I haven’t told you about me. I guess I just did.
Thank you so much for all the content,
Ryan L.
Thanks for the great feedback.
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