PriestBG
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PriestBG
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Publications
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Haussier
#myThoughtsOnCrypto
What do you think destroys more traders: poor market knowledge or the inability to control their emotions?
I think that one of the most expensive psychological mistakes in trading is the belief that the market must eventually return what it has taken from you.
Well, It may not.
A trader loses $100 and becomes determined to recover it. The next trade is no longer an independent financial decision; it becomes an emotional negotiation with the past.
- Risk increases.
- Patience diminishes.
- Every green candle begins to look like an opportunity, and every red candle feels like a personal insult.
This is how a manageable loss becomes a financial crisis.
The market has no memory of your entry price, no sympathy for your circumstances, and no obligation to restore your confidence.
You can choose to view it this way: a previous loss is an information, not an instruction to take another trade.
The objective is not to recover money at all costs. It is to become the kind of decision-maker who can preserve capital long enough to grow it.
Sometimes, the most profitable trade is the one your wounded ego desperately wants you to take but you refuse to.#mythoughtsoncrypto $AAPLB
#myThoughtsOnCrypto
What do you think destroys more traders: poor market knowledge or the inability to control their emotions?
I think that one of the most expensive psychological mistakes in trading is the belief that the market must eventually return what it has taken from you.
Well, It may not.
A trader loses $100 and becomes determined to recover it. The next trade is no longer an independent financial decision; it becomes an emotional negotiation with the past.
- Risk increases.
- Patience diminishes.
- Every green candle begins to look like an opportunity, and every red candle feels like a personal insult.
This is how a manageable loss becomes a financial crisis.
The market has no memory of your entry price, no sympathy for your circumstances, and no obligation to restore your confidence.
You can choose to view it this way: a previous loss is an information, not an instruction to take another trade.
The objective is not to recover money at all costs. It is to become the kind of decision-maker who can preserve capital long enough to grow it.
Sometimes, the most profitable trade is the one your wounded ego desperately wants you to take but you refuse to.#mythoughtsoncrypto $AAPLB
What do you think destroys more traders: poor market knowledge or the inability to control their emotions?
I think that one of the most expensive psychological mistakes in trading is the belief that the market must eventually return what it has taken from you.
Well, It may not.
A trader loses $100 and becomes determined to recover it. The next trade is no longer an independent financial decision; it becomes an emotional negotiation with the past.
- Risk increases.
- Patience diminishes.
- Every green candle begins to look like an opportunity, and every red candle feels like a personal insult.
This is how a manageable loss becomes a financial crisis.
The market has no memory of your entry price, no sympathy for your circumstances, and no obligation to restore your confidence.
You can choose to view it this way: a previous loss is an information, not an instruction to take another trade.
The objective is not to recover money at all costs. It is to become the kind of decision-maker who can preserve capital long enough to grow it.
Sometimes, the most profitable trade is the one your wounded ego desperately wants you to take but you refuse to.#mythoughtsoncrypto $AAPLB
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Professional tips for beginners please, anyone? Thank you.
Professional tips for beginners please, anyone? Thank you.
2
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IRSPlansLowerTaxDisclosurePenaltiesForCryptoCases
35,758 vues
389 mentions
Guy A: Bro I finally hit it.
Closed the year with a clean $1,000,000 profit from trading $IRYS , $ZEC and $PEPE .
Guy B: Congrats man… now when are you reporting it?
Guy A: Reporting what?
Guy B: The million dollars.
IRS.
Guy A: Come on, it’s crypto. They don’t really—
Guy B: They do.
Especially now.
That profit is taxable. Short-term or long-term, doesn’t matter. You made it, you owe on it.
Guy A: So what, I'll just send them a check for bottle of beer😁?
Guy B: Pretty much. Or you keep quiet and hope they never notice.
But with 1099-DAs rolling in and the new voluntary disclosure program dropping before December… the “hope they never notice” plan is getting expensive.
Guy A: …You’re serious.
Guy B: Dead serious.
You either report the million and sleep at night, or you wait until they find it and the conversation gets a lot more expensive.
Quick context:
The IRS is updating its voluntary disclosure program before December,lower penalties and cases resolved in about 120 days. Crypto profits are treated the same as any other income. If you made serious money and didn’t report it, coming forward now is cheaper than waiting for them to find you.
#IRSPlansLowerTaxDisclosurePenaltiesForCryptoCases
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