Full Tilt

  1. If you have already puked your positions and are experiencing that numbness that comes directly after doing so, know that you are in the most dangerous place possible for making decisions. Your brain is on overdrive to find dopamine and endogenous morphine by any means necessary. The answers you seek do not lie in the markets, they are outside, in nature, away from the computer and phone. You need to close the computer (assuming you have no leverage) and walk away for the next 24 hours. You must do this. Full stop. Failure to do this will result in nothing but tears.
  2. Tell someone what happened. Some people feel more comfortable telling people they know, others feel more comfortable telling people they don’t know. Pain needs a witness to be released from the body. The simple act of giving this a voice will allow you to move on. If you don’t have someone to tell, you can send me a direct message on Twitter. I won’t tell anyone. If you’re embarrassed, create a new Twitter account and message me from there.
  3. As the Big Lebowski reminds us — “Nothing is Fucked, man.” It may seem like the world is ending and that your future is hopeless. It may seem like your entire year was a huge fucking waste of time. It may feel like you are a loser who will never get ahead in life. None of these things are true. Just like you didn’t know crypto existed a few years ago, your entire life could change for the better in the next few years. Anything is still possible, including the most triumphant return to greatness you ever dreamed of. This too shall pass. You must believe this. I know because it has happened to me time and time again.
  4. If you have not gone full tilt yet but are sitting on a position or portfolio that could put you in a position to go full tilt, now is the time to re-evaluate. Be ice cold about selling losers if you need to, even if it’s 10% of the position. That’s better than dumping 100% if it keeps going down. If you feel any sense of discomfort now, if you are having a hard time thinking straight, that is a signal. Adjust your positions to keep your head straight. Stop worrying that you’ll miss the bounce — you can always buy back in.
  5. Spend as little time alone as possible. Go see some friends or family or sit in a park. Go into Discord or Slack or Telegram and talk to people about anything. Go on Twitch or join Twitter Spaces or do something that feels like you’re in a community. Get out of your own head, let time heal your pain.

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