One of the biggest mistakes I ALMOST made: EMC2
What's up guys, YoungShkreli in the building
I want to tell you guys about one of the dumbest mistakes I almost made in December 2017 - and this is a very dumb (almost) mistake.
Disclaimer: I'm not calling EMC2 a scam outright, but saying it is not to be invested in because it is speculative at best.
Before I had read any books on traditional investing, I only cared about technicals and, in the tone of Charlie Munger, I would have traded turds had they looked cheap to me. Let me just tell you this and you can verify my wisdom by looking at this chart: don't trade turds.
I had been listening to my emotions and I bought into EMC2. It was pumping so much and I was making so much money that I didn't EVEN LOOK into it. Thankfully, my trading strategy of exiting on a flipped ashi candle after a long run into the RSI saved me.
What can you learn from this?
TRUST the strategy. TRUST it and don't deviate once you've found a good one. And NEVER and I mean NEVER make a trade that you can't explain to yourself logically.
SUMMARY:
A truly wise person learns from the mistakes of others and to be a good investor, you MUST be wise. Don't listen to your emotions and don't trade turds :).
Good luck bros,
Young Shkreli
I want to tell you guys about one of the dumbest mistakes I almost made in December 2017 - and this is a very dumb (almost) mistake.
Disclaimer: I'm not calling EMC2 a scam outright, but saying it is not to be invested in because it is speculative at best.
Before I had read any books on traditional investing, I only cared about technicals and, in the tone of Charlie Munger, I would have traded turds had they looked cheap to me. Let me just tell you this and you can verify my wisdom by looking at this chart: don't trade turds.
I had been listening to my emotions and I bought into EMC2. It was pumping so much and I was making so much money that I didn't EVEN LOOK into it. Thankfully, my trading strategy of exiting on a flipped ashi candle after a long run into the RSI saved me.
What can you learn from this?
TRUST the strategy. TRUST it and don't deviate once you've found a good one. And NEVER and I mean NEVER make a trade that you can't explain to yourself logically.
SUMMARY:
A truly wise person learns from the mistakes of others and to be a good investor, you MUST be wise. Don't listen to your emotions and don't trade turds :).
Good luck bros,
Young Shkreli
Disclaimer
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