Own the Bet

Even the best traders lose, and losing is normal. What matters is never getting wiped out, and waiting for the right moment to bet big.

The chart shows it. Most of his trades are small and go nowhere, but when he wins, he wins big. I wanted to know how, so I went through his recent trades.

Here is what he did:

1. Around Aug 20, NEAR's volume jumped. He bought in, around $1.9, without knowing yet if it was a real trend or just noise.
2. The price went nowhere for two weeks. He admitted he was wrong and got out on Sep 2, at about breakeven.
3. A few days later the price broke above $2 on three times the volume. He bought back in at a higher price, about $2.30, and built a bigger position than before.
4. Then the news came out, and NEAR went past $5. He held through it.

His strategy is simple, but he did three things right:

1. When the market didn't confirm his bet, he left quickly, even if it cost a little.
2. When the chance came back, he came back too, without thinking "but I sold lower than this."
3. When the move finally came, he didn't rush to sell. He let it run.

愿赌服输. Own the bet.