This is all one big ramble so click away if you don’t care.
It’s my birthday today. I’m 29. Not quite 30, although when I play basketball with 20 year olds I feel 40. The other day I got crossed up so hard I thought my ankle was going to snap off and fly off into the bleachers. I have a feeling it’s going to be a big year for investing in stretching and possibly yoga.
It’s been a life is a box of chocolates year. One of the best humans I’ve ever known and best friends I’ve ever had was killed by a drunk driver. My best friend’s little brother passed away unexpectedly. My sister and her kids moved half way across the country without saying a word to me (that’s just as much my fault though)
On the other hand, my mom was declared cancer free, I had my best trading year and the Stocktwits community voted me the first ever Stocktwits Rising Star. To be voted that by peers and friends is a huge honor. I’ll be proud of that the rest of my life.
The one thing I’ve had the most confidence in is the power of these social, learning platforms.
When I first tried to learn about stocks and markets I was digging for days and weeks to find scraps of information. The information, the best blogs, the best stocks, everything; was hard to find or behind a paywall. With twitter and stocktwits, that changed. The flow of ideas and information has destroyed barriers to entry and massively accelerating the learning curve for young & enthusiastic outsiders such as myself.
A few things became more evident to me this past year:
- When you make a lot of money with a certain type of trade/setup/idea, you’re going to come back to it and try it again and it’s not going to work
- Having strong opinions costs you nothing if you don’t have a position. Example: I have been extremely bullish Snapchat. It’s wrecked many investors. I’ve traded it 1 time holding it for 2 days and a ~4% gain.
- There is a lot of grey area between smart and stupid in trading/investing. Example: If SNAP goes to 10, am I stupid for being bullish the company or smart for not losing my ass in it although I think it has a lot of potential?
- Tracking your own trading performance metrics is about focusing on what you need to improve as much as anything.
- If a bunch of average traders agree on a certain trading perspective or practice, maybe that’s why they’re just average
- To be well connected, all you have to do is connect
- An underrated advantage of humility is it helps you maintain a growth mindset
- Having a growth mindset is ever increasingly important. Competition is too fierce for us to stop learning
- The more people in your support system, the happier you’ll be and the better you’ll perform
- If I believe in something, I’ll give it 110% effort. If I lose that belief, I fall to the bare minimum effort. You really have to keep your enthusiasm and never lose faith in whatever you’re doing
- I need to become best friends with a trend follower to help get more out of bull markets. (If you’re looking for a market bestie hit me up aaron@northstarTA.com)
- It brings me more joy helping my friends get started in investing than I ever could have imagined
- Your mental state doesn’t matter if your edge is fat enough. If any idiot can catch a 3x move in a bitcoin ETF in a few days, why can’t you catch a good trade under some distress?
FWIW, i’m starting a month long twitter sabbatical today. I did it last year and it was just so great to unplug for awhile. It’s nice to get away from the group think and all of that. I’ll be posting more here as I work on thinking deeper. I’m going to create a new page with a few of the charts i’m watching if anyone cares. Catch you on stream in July!