1/ So here is a thread on how I turned $32,000 into $1.2m and back to pretty much zero (once taxes are paid).
Just note, I am not bitter or salty in any way at all, the last 2 years have been an amazing ride - travelled the world, been wealthy, been poor.
- Trading (income 1)
- Podcast (income 2)
- Mining (income 3)
- Mining pool (income 4)
- Consulting (income 5)
Yes - all of the above as a one-man army :)
Mining is what busted me most:
- 70 S9s
- 70 DragonMints
The above with setup was like $300k.
Each month digging into my BTC to pay the bills. Finally paying $19k to release from the contract.
Basically paying losses each month with a slowly dwindling balance of BTC.
The good news - I have the podcast which is now generating an income, something a little more reliable
I don't want any donations or sympathy. Sure I regret stuff but I am happy with how it has all played out.
People say don't invest what you can't afford to lose, well don't keep in Crypto profits which will change your life.
It is one of the reasons I have sympathy for maximalism, all these tokens and coins really are silly.
Viva la Bitcoin!
If you want to start a side gig, there are so many tools to help you get started. Here are a bunch of my favs.— Peter McCormack [Jan/3\u279e\u20bf \U0001f511\u220e] (@PeterMcCormack) December 13, 2018
Feel free to add to or critique.
With the tools listed in this <thread>, I reckon you can start an online business for less than $100 a month.
More from Life
1.Challenges come to reveal to us our deepest tendencies, as well as the need to reflect on who we are and who we want to be. #My2020Lessons
https://t.co/JqbhvNaJIf matter how bad things are, you can always make things worse. At the same time, it is often within your power to make them better. #My2020Lessons
3.Make sure to always remember never to wrestle with a pig because you just get dirty and the pig enjoys it. #My2020Lessons
4.Grapes must be crushed to make wine. Diamonds form under pressure. Olives are pressed to release oil. Seeds grow in darkness. Whenever you feel crushed, under pressure, pressed or in darkness, you’re in a powerful place of transformation. Trust the process. #My2020Lessons
(Plus a 30 minute exercise to get you into the top 2%)
Quick PSA: If you get value from this thread, please share some Knowledge Karma and retweet the first tweet 👆
Now let's upgrade your life..
I'll start by addressing the elephant in the room.
This is not another thread about "positive thinking" and us ing affirmations to get what you want.
You will need to take action for this to work.
If you are willing to do that
Read on 👇
Psychological Fact #1 : Reality = What you experience in your mind.
Reality is not objective.
This is why a man with a million dollars can say he's "depressed"
While a man with nothing in his pocket can say he's "happy"
and they can both be right at the same time.
A plastic surgeon noticed a pattern in his patients.
Even though a patient underwent transformative surgery and OBJECTIVELY looked more beautiful
Many came out of surgery and still saw an ugly person in the mirror.
How is this possible?
It all boils down to self belief.
Write a tweet, tell your friends, and move on.
Once you own it, you fix it.
99% of people on Twitter/social media/internet won't do this.
Being radically transparent and honest is a competitive (and life) advantage.
From @RayDalio's Principles:
My new product has 14 users and <$400 monthly revenue. I've spent the last 4 months on it.
I'm going through a lot of pain to validate and grow it.
But if anyone asks me how it's going I will tell them exactly that.
If I asked them, I would hope they would give me the raw truth as well. Truth builds trust.
I think that goes for your internet audience as well. Authenticity is attractive.
I see this with @starter_story all the time - people don't want to share their revenue yet because they don't have any, or it's not high enough (not all cases but often).
I wish I could tell them that getting the cat out of the bag would actually fix the problem itself!!
The NNOX news flow been exceptionally good. I tweet about Fear Uncertainty Doubt and how short sellers leverage friction in news flow to mine some of your gains. NNOX published Form F-1/A to remove friction. Investors have answers.
Form F-1/A Link:
Form F-1 is over 200 detailed pages. Very concentrated. Everything you need for rest of this month in the document. A few notes for you. NNOX FDA approval uses a third party review organization in 510k process. This is abbreviated to 3P510k.
I covered the 3P510K in thread here: https://t.co/w7zE882CVk
Reference to Eagle eyes: https://t.co/gT779MFX82
We discover in F-1 that 3P510K recommended clearance of Nanox Source. This triggers a 30 day timeline to approval by FDA. However ...
Look at you favorite broker news for NNOX. I look at 3 different broker none of them comment NNOX from 60 to 80 on news that 3P510k recommended FDA approve NNOX device. NNOX get a letter and slide 10% we get headline. But no headline for big pop 🤷♂️ that’s the friction.
And... something dramatic happened.
So, okay, looks like we're going to have a little bit of a THREAD.
Buckle up for an unbelievable anecdote that gets to the heart of London life in this nightmarish pandemic.
(I won't name the supermarket, NOT because I don't want to shame the members of staff [I will be doing that privately by reporting their actions to the police later today - as soon as I've finished tweeting this thread], but because I don't want to give them free advertising.)
Okay, right. I'm still shaking so I'm struggling to write this out. I've opened a bottle of Campo Viejo Rioja (an underrated affordable offering which is currently on special offer at Tesco) to steady my nerves. No shame in that.
So. Yes. I was walking down the dairy aisle...
I saw a northerner.
(apologies for the delay, I'm on the phone to an upset friend - her husband of 15 years has just confessed to an affair with her own sister. It's not really the sort of situation where you can say, "Excuse me Julie, awfully sorry but I'm writing an incredible thread on twitter!")
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Naval: In India there's this concept of the extended family where you basically live with your tribe at all times, so when we were young, at our grandmother's place with my aunts, my uncles, my cousins, my grandparents,
everyone was there, and it was a warm night so we went out to the backyard and put all these comforters and these little cots out and everyone would sleep in this giant pile with fifteen people underneath the stars...
it was amazing...so there's two things that were great about it: the noise level didn't bother you, if someone's foot was in your face it didn't bother you. When it's family and you're young it all just works and you feel very safe and very happy.
Another thing is that it reinforces how important the tribe is. Modern society gives us incredible flexibility in that we can get away from our crazy family members, we're not destined to die where we are born or to do what our parents did. So we have incredible freedom.
But coming with it is this tremendous loneliness that we try to cover up either through drugs, alcohol, partying, even trying to find a mission like putting people on mars. But the reality is that a lot of that loneliness comes from being disconnected from growing up in your
Week 1 highlights: getting shortlisted for YC W2019🤞, acquiring a premium domain💰, meeting Substack's @hamishmckenzie and Stripe CEO @patrickc 🤩
2/ So what is Brew?
brew / bru : / to make (beer, coffee etc.) / verb: begin to develop 🌱
A place for you to enjoy premium content while supporting your favorite creators. Sort of like a ‘Consumer-facing Patreon’ cc @jackconte
(we’re still working on the pitch)
3/ So, why be so transparent? Two words: launch strategy.
jk 😅 a) I loooove doing something consistently for a long period of time b) limited downside and infinite upside (feedback, accountability, reach).
cc @altimor, @pmarca
4/ https://t.co/GOQJ7LjQ2t domain 🍻
It started with a cold email. Guess what? He was using BuyMeACoffee on his blog, and was excited to hear about what we're building next. Within 2w, we signed the deal at @Escrowcom's SF office. You’re a pleasure to work with @MichaelCyger!
5/ @ycombinator's invite for the in-person interview arrived that evening. Quite a day!
Thanks @patio11 for the thoughtful feedback on our YC application, and @gabhubert for your directions on positioning the product — set the tone for our pitch!
Curated the best tweets from the best traders who are exceptional at managing strangles.
• Positional Strangles
• Intraday Strangles
• Position Sizing
• How to do Adjustments
• Plenty of Examples
• When to avoid
• Exit Criteria
How to sell Strangles in weekly expiry as explained by boss himself. @Mitesh_Engr
• When to sell
• How to do Adjustments
1. Let's start option selling learning.— Mitesh Patel (@Mitesh_Engr) February 10, 2019
Strangle selling. ( I am doing mostly in weekly Bank Nifty)
When to sell? When VIX is below 15
Assume spot is at 27500
Sell 27100 PE & 27900 CE
say premium for both 50-50
If bank nifty will move in narrow range u will get profit from both.
Beautiful explanation on positional option selling by @Mitesh_Engr
Sir on how to sell low premium strangles yourself without paying anyone. This is a free mini course in
Few are selling 20-25 Rs positional option selling course.— Mitesh Patel (@Mitesh_Engr) November 3, 2019
Nothing big deal in that.
For selling weekly option just identify last week low and high.
Now from that low and high keep 1-1.5% distance from strike.
And sell option on both side.
1st Live example of managing a strangle by Mitesh Sir. @Mitesh_Engr
• Sold Strangles 20% cap used
• Added 20% cap more when in profit
• Booked profitable leg and rolled up
• Kept rolling up profitable leg
• Booked loss in calls
• Sold only
2nd example by @Mitesh_Engr Sir on converting a directional trade into strangles. Option Sellers can use this for consistent profit.
• Identified a reversal and sold puts
• Puts decayed a lot
• When achieved 2% profit through puts then sold
Already giving more than 2% return in a week. Now I will prefer to sell 32500 call at 74 to make it strangle in equal ratio.— Mitesh Patel (@Mitesh_Engr) February 7, 2020
To all. This is free learning for you. How to play option to make consistent return.
Stay tuned and learn it here free of cost. https://t.co/7J7LC86oW0