A LONG & IMPORTANT THREAD

These three tiny faces should make you extremely sad and angry.
They are the latest victims of Australia's shocking epidemic of violence.
Their names are Matthew Perinovic, Claire Perinovic and Anna Perinovic.

My highlighted passages from The Psychology of Money by @morganhousel. Thread below

1. The 401k - the backbone savings vehicle of American retirement - did not exist until 1978. The Roth Ira was not born until 1998. If it were a person it would be barely old enough to drink

2. NYU professor Scott Galloway has a related idea that is so important to remember when judging success - both your own and others': "Nothing is as good or as bad as it seems."

3. Margin of safety - you can call it room for error or redundancy

4. "Every job looks easy when you're not the one doing it because the challenges faced by someone in the arena are often invisible to those in the crowd."

5. "The average equity fund investor underperformed the funds they invested in by half a percent per year, according to Morningstar - the result of buying and selling when they should have just bought and held."

FEAR - It’s the re-experience of failure in advance.

Many traders face the issue of Not entering in trades because of fear.

A thread on How to pull the trigger when the opportunity knocks.

Lets First start from knowing the cause of this "FEAR" of pulling the trigger.

A traders goes through many phases before becoming Profitable.

The first phase is the " APUN HI BHAGWAN HAI" phase-

When we first begin Trading, we don’t know any concepts, we don’t know about the risks , the dangers.

So we start trading, and like most guys by beginners luck we start making good, we start to calculate how much money we will make in next 1yr, 5 yrs, Greed start to Hop in.

We get introduced to Various instruments, F&O, LEVERAGE.

We take big positions as we don’t have any FEAR cause we haven't seen those bad phases yet.

Now we get the Big blow, account down -50%, or in many cases wiped out.

The first phase ends here.

Now we know How the market can kick our ass, we now know the risk that comes with those big positions.

"THE LEARNING PHASE"-

Now we know that we were just lucky initially and now we have to learn why we get those losses, so we start learning concepts , fundamental, Technicals.

Thread: A personal episode from the past that I feel is very relevant to be shared today, especially for parents of young girls.

I was 18, when my first cousin morphed my face with that of a male school friend in extremely compromising position.

Very believable for anyone without knowledge of tech.

I was devastated. This was a brother I looked upto. This was the brother I had given my laptop to so he could apply for jobs. And on the same laptop, he made those photographs of me, his younger sister.

Why did he do that? He was kicked out of his house by his family after he married a girl w/o their consent. He was homeless, so my parents let him stay with us till my his family cools down & accepts them back. After 6 months, he felt threatened he'd be asked to leave our place.

So one day, he confronts my parents, infront of me, with those pictures and shows those photographs, with clear terms - pay him & his wife a fixed amount every month, let them stay at our home or he would leak those pictures everywhere.

I still remember he explained how he would distribute those pictures on the day they would get me married 😂

I don't know how any other parent from lower middle class would have reacted to this. But I remember how my parents did, that changed my relationship with them forever.

When I was 17, I was in a school shooting. It was traumatic

I'm convinced that overcoming fear is the secret to winning at startups, business and life:

Here's some tips and lessons on overcoming FEAR:

The greatest productivity tip of all time:

It isn't to drink coffee or get 8 hours of sleep or use Notion

It is conquering your fears. Period.

Life is too short for fears

"Adjusted for the subjective increase in how fast time passes, life is half over by 23 or 24. Don't waste time."
h/t @samaltman

Time is ticking

Beat your "amygdala"

Amygdala = the part of your brain that registers all your fear

When you have an experience that creates fear, it gets "coded" into your brain

For the rest of your life, your amygdala, is tainted with your past experience

Arm wrestle your amygdala and win

Rejection sucks. But it's one of the most useful ways to refine your craft

Mindset shift: use fear to learn & motivate, not run away & demotivate