INTERVIEW: BuyerOfBlood
BuyerofBlood is a crypto trader, investor, and a presenter of the Magnet Money Show.
“I was hooked and needed to figure out what I did wrong. I wasn’t using any risk management. I wasn’t taking profit. I was round-tripping everything.”
What's the worst thing about trading?
The dopamine dumps. High swings on crazy runs into some lows and losses. Happens every cycle and fucks with your chemistry. Downward spirals are intense. You start churning, thinking about making back what you lost, and you simply lose more.
A pretty good example was in Q1 of this year. I had traded pretty well, but as we rolled into Q2, I sized up at the wrong time. I began taking abnormally large positions at non-inflection points.
Once my account started to churn, I found myself in a bit of a spiral. I had to actually stop trading and turn notifications off of Twitter to be able to control myself. Once I stepped back, the mistakes I had been making were so clear.