I once lost 26% of my portfolio in three short trades, in less than an hour and a half.
It was brutally crushing.
Weeks of hard work gone in the blink of an eye.
But I thought back to when I was just a little kid, learning how to ride a horse at summer camp.
More accurately I remember falling off said horse while trying to learn how to ride it.
And the camp counselor wiping the dirt (and maybe a tear, though I'd never admit it) off my face.
"If you don't get right back on that horse, you never will again." he told me.
And so I did.
But when I got back on the trading horse the next day, something was different. It didn't feel right.
It felt like the charts I was so used to watching, were in a foreign language.
The letters were still the same, but I couldn't read them anymore. Whatever I used to see, whatever strategy I had been using before, it didn't fit.
Something was missing.
I floundered, and I panicked.
Luckily, a good friend and mentor was there to catch me.
Thanks to their wisdom, it became clear to me - there was indeed something missing.
My confidence.
Confidence in my skill, confidence in my ability to control my emotions, confidence in my analysis.
Without that, there was no way that crypto could the salvation I so desperately longed for.
And so I set out to rebuild that confidence, brick by brick.
For the next 30 days, I traded only a completely insignificant amount of money and I documented every last detail.
That helped me control my despair while validating the effectiveness of my strategy.
After rediscovering my groove in those 30 days, I slowly ramped back up to trading real money.
In the end, learning from that experience proved far more valuable than the short term damage to my portfolio.
Have you ever had to experience something extreme to overcome a mental weakness?
This is what exactly happens with new traders who try to make good trades without getting enough knowledge and lose their money.
Once we get the knowledge and experience in trading, we can not only recover our loses but same time we may be in profit also.
