4/10 Doing simple things right
I have already talked a bit about it before, but I cannot stress how important it is to keep most things simple and just do it right. It is an excellent time to review the things where you can apply those rules.
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One of my recent activities on Twitter has been to read the twitter threads of @ltrd_
I don't know much about him, except that he knows more about trading than I do. However, his way of presenting information in generic terms makes it easy for a pleb like me to follow along.
What's so special?
Well, much like the rest of CT, he decided to give us a thread of important learnings. Think of it as a year-end review. I love how the end of the year brings out the reflective self hidden away behind price charts and routines.
10 thoughts and reviews for the last ten days of the 2022.
I would like to share with you some of my thoughts at the end of this year. I hope that this tough year was not so brutal for you and you will find a power to make your next year a great one.
My favourite one out of his 10 threads (yes, there are 10 different reflective threads) is 'Doing simple things right.'
My Bias
I'm a big believer in setting up appropriate processes.
Each goal requires you to do certain things in a certain fashion and if one could simply do the processes long enough, they'd end up where they want to be.
Of course, we'll have to factor in chance and black swan events (lol like we can!)
I try to set a goal -> come up with a process -> forget about progress for a while. It keeps me patient in troubling times.
It's no surprise that I found this particular thread to be the best one. It matches my philosophy... or at least the one I try to espouse.
Focus on the first principles, and fundamentals of the topic that you will learn. Just give it a chance and stay within absolute fundamentals within first month of learning something.
Unknown Unknowns
Though Itrd briefly mentions dopamine-hits as the main reason behind why we go for the shiny new thing, I also believe there's another caveat while studying fundamentals:
you don't know you got shit wrong unless you're advised by someone who got it right
Fundamentals are cheeky.
Some of them can be so widely applicable and...flexible (for the lack of a better word) that you can sometimes end up generating the wrong thesis with them. God forbid if you end up generating a sub-par one.
Once a wrong inference has been derived, the fundamentals – like a whore – do as you please for a while. Once luck runs out, you're left stranded at the wedding aisle.
I have found that it's best to know someone far up and beyond in the journey and reach out to them. They can sometimes help you appreciate the breadth of the fundamentals.
The best part? some of your masters have sub-par theses too. Gm to the uncomfortable realisations but it is what it is and you've to live with it.
30 minutes
On an ending note, I'd just like to mention this here:
In 2023 find one thing that you will learn by those methods. Only simple, fundamental things within the first month. 30 minutes to on hour per day and do not let yourself take a 2-days break,
30 minutes - 1 hour
30 days
No 2-day breaks
That's how I dived into crypto (okay it was more like 3 hours a day in the beginning).
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