Dear Julian,
I hope you can read these words, when you need them the most. Please, listen to your past self and take a step back. I want you to focus on your anchor, seriously Julian. Please listen to yourself. If you dont listen to yourself, who will you listen to?
Take a few breaths.
Take them with me.
One breath in...
One breath out...
Read the following principles.
Take it slow, step by step. One principle at a time.
Examine, if you are breaking any principle.
And if you are, IMMEDIATELY ENGAGE a NEUTRAL POSITION.
- If you feel urged
stop immediately and engage financial review with accountability partner
- If you feel pressured
stop immediately and engage financial review with accountability partner
- If you feel you are chasing something
stop immediately and engage financial review with accountability partner
- If you feel like time is rushing too fast
stop immediately and engage financial review with accountability partner
- If you feel strong emotions (positive or negative)
stop immediately and engage financial review with accountability partner
- If you find yourself increasing leverage over 2x
reduce leverage immediately, even if this means closing part of the position.
engage financial review with accountability partner immediately
- If you find yourself dedicating more than 50% into a single asset
reduce your position in that asset immediately
stop immediately and engage financial review with accountability partner
- If you feel the urge of adding more money than your dedicated 100 chf monthly
STOP IMMEDIATELY and engage financial review with accountability partner SUBITO
- DO NOT THROW GOD MONEY AFTER A BAD INVESTMENT (i.e. margin call)
reevaluate your position. Likely the best decision is to accep the loss and close the position
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Trim your investments
Check how time unfolded for your decsions. Which investments become unsustainable? Close these positions right away, or decide to revert them. But also leave some leeway, depending on the risk and volatility of the asset.
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Reassign value
Take good money from your worst investments, and move it to your best horses
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search the market for opportunities
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Always have some buffer value for exceptional opportunities.