to make $1,000,000 trading and buy a house, these are the rules i will stick by:
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we started with $1,000, did a few good trades consecutively and found ourselves in the $300k - $500k range
missed a bit on execution and revenge traded our way down to $0 PNL
that is the reality right now, and it's okay
i am grateful for all the lessons, all the reminders, and all the friends on the internet who are cooking together
i am fresh, fully locked in, and have dusted off the rust
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1. in a crazy market full of noise, filter out and only listen to signal
2. it's still early so take big swings, but that doesn't mean big relative size
3. with something like fomo, it is hard differentiate a long term hold wallet, and a more degen one, be really disciplined with capital and understand what is locked, and what is not
4. after a big win or big loss, do not suddenly increase your size
5. have a plan to constantly realize profit. take initials when the trade gives you the opportunity, and if you're convicted, earn the right to hold a moonbag.
6. observe the leaderboard, but do not compare yourself all the time. stack wins, and the results will speak for themself.
7. if you're going to go degen, make sure it's really low market cap, sizing into something mid, is a mid approach
8. if you find yourself in a great position in what you think is a long term winner, stop micromanaging it. set alerts, know your invalidation, and give the thesis enough time to play out.
9. have fun, constantly journal
10. always give yourself grace. always stay grateful. and always take care of yourself mentally and physically.
11. before entering any trade, know what makes you wrong. conviction is not a reason to move the goalposts after the trade goes against you.
12. have a maximum amount you're willing to lose in a day. once you hit it, trading is over. there will always be another trade tomorrow.
13. never trade to make money back. the market has no idea what your previous trade did. every new position has to deserve your capital on its own.
14. as the portfolio grows, graduate capital out of the casino. the goal isn't to see $1,000,000 on a leaderboard. the goal is to turn trading profits into a house.
15. don't let one trade become the challenge. no matter how convicted you are, one token shouldn't have the ability to erase the entire run.
16. decide your exits before the emotions arrive. know where you're taking initial, where you're taking profit, what you're leaving as a moonbag, and what would make you exit completely.
17. cash is a position. you don't need to be in something just because everyone else is cooking.
18. protect your mental clarity like it's part of the bankroll. if you're tired, tilted, obsessed with the chart, or trading differently than normal, size down or stop.
i am grateful to even be able to do this challenge. the emotional swings are tough, but if we can grow from the wounds, we'll only get stronger.
follow all along the journey here:
the goal isn't to turn $1,000 into $1,000,000 once. the goal is to become the trader capable of keeping it when i get there.
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Tom Lee-Managed GRNY ETF Makes MSTR Its Largest Holding Ahead of 46% Rally
Bloomberg ETF analyst Eric Balchunas said the Fundstrat Granny Shots US Large Cap ETF (GRNY), managed by BitMine Chairman Tom Lee, sharply increased its position in Strategy (MSTR) starting in mid-August, taking MSTR from the fund’s smallest holding to its largest in roughly two weeks. As of September 3, MSTR accounted for about 3.02% of the portfolio, surpassing Robinhood at 2.99%. Balchunas noted that the accumulation took place before MSTR subsequently rallied about 46%.
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