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Pickle Cat
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Your Republican cat next door, decoding crypto chaos & roasting clowns 🤡 | Degen trader since 2013 (from Reddit)
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Pickle Cat
01-28
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The recent market performance has indeed been poor, but it's precisely in these moments of despair that we are best prepared for reflection and review. I greatly admire @yuyue_chris's reflections on the crypto cycle based on his own experience, and I recommend everyone check it out. Also, if you've been experiencing trading setbacks lately, feeling internally conflicted and self-doubting, try looking at it from a different perspective; it might not necessarily be entirely a bad thing. Just as investing is often overlooked, exiting is often met with great fanfare, the barriers to entry for trading will gradually decrease over the next decade. In a future where "everything is tradable," things that were once immovable and immeasurable (such as your credit, attention, emotions and relationships, even personal time) will become quantifiable, flowing like water. Portfolio management will become an essential skill for everyone, just like literacy. You should know that every effort, every hour, and every hard-earned "tuition fee" you invest in and trade now will transform into one of your core competitive advantages in the future. When everything becomes financialized, those who haven't experienced losses will be instantly swallowed up by the volatile waves, while the intuition and strategies you've honed beforehand will be your strongest weapons. Yesterday, @thecryptoskanda jokingly said that my 40-page article represented the current version of the three-way theory: "He cultivates swordsmanship, I cultivate the mind." Indeed, every era has its new rules, but the underlying game, the analysis and exploitation of human nature, has remained unchanged for millennia. No matter how the era "upgrades," there are no shortcuts to this deep self-awareness, and it's not even related to intelligence. It can only be honed little by little through years of experience, reflection after painful struggles. This "mindset" is the most fundamental logic for establishing yourself in the market. Therefore, the earlier you begin to confront yourself, the greater the rewards time will bring. This sense of accomplishment, grown from the depths of despair, will accompany you throughout your life; no one can steal it. Take your time; your future self will truly thank your present self for persevering.
Yuyue
@yuyue_chris
01-28
好久没有动力读完这么长的内容了，可能是因为作为 00 后同龄人对黄瓜猫 @0xPickleCati 的思想很有共鸣吧，全文读完了，感触很深。最近哪怕收手了很多头寸，还是在 intospace 上踩坑，刚才又得知了一个噩耗，月鸟的 NFT 需要用 2 x.com/0xPickleCati/s…
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Pickle Cat
01-02
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Why M-type traders might be trading saints? (Serious Version) I thought only a weirdo like me was interested in this topic, but after posting it on Telegram, I realized there are so many like-minded people! My usual serious Telegram posts don't get as much interaction as this casual one 🤡 Have I finally found my tribe? Great, great, finally I can freely discuss this topic that's been on my mind for so long 👇 First, the core point: The difficulty in trading is never about predicting the direction, but about your relationship with "pain." Most people's instinctive reaction to pain is only one: avoidance. Loss = Threat = Must immediately stop the pain. But M-type traders are structurally different in this respect. It's not that M-type traders necessarily "like all pain," but rather that they have established a long-term, stable, and coexisting relationship with a certain type of controllable pain. They even feel uncomfortable without this pain for a long time, and actively "endure the pain." This relationship itself has already helped them bypass the biggest hurdle in trading. 1. Different pain thresholds lead to different recovery speeds👇 > When most people see a loss, their emotions and physical reactions often explode simultaneously. Heart pounding, anxiety, impulsiveness, and the desire to immediately win back the loss. This has little to do with IQ or personality; it's essentially about your pain tolerance and how you interpret pain. > People with high pain thresholds don't lack reaction; rather, they are more familiar with the existence of pain. > They are more likely to do one thing: acknowledge the existence of pain, rather than immediately trying to eliminate it. This directly impacts a crucial ability: the ability to refrain from immediate action after a loss. 2. Impulsive trading and revenge trading are essentially about avoiding pain🤡 > Many people think revenge trading is "fighting pain," but it's actually a complete escape. > Revenge trading is about avoiding recalling, reviewing, and facing "why I just lost." > It's about using new stimuli to cover up old pain! Because M-type individuals are accustomed to coexisting with pain, they are more likely to do something that most people instinctively resist: > Repeatedly reviewing, dissecting, and analyzing their most painful trades. Trading, in essence, boils down to two things: optimizing strategies + cultivating the mind. And both of these inevitably involve direct confrontation with pain. 3. They distinguish between "necessary pain" and "devastating pain" earlier 👇 Newcomers discussing risk usually only say one thing: "I'm only using this much money; if I lose, I lose." > This sounds carefree, but it's extremely irresponsible. Because you don't know your true pain tolerance level, specifically how much position to open, how to allocate it, how much leverage, where to set stop-loss orders, and what percentage of your risk account you're willing to risk. > This leads to recklessly depositing more money after losses and rarely withdrawing profits, with little objective, long-term planning. > As a result, losses snowball, people become increasingly anxious, and ultimately believe it's because they haven't learned enough or their strategies are inadequate. The root of the problem lies in your never confronting your own pain and fear. Because people like M have a very clear understanding of the boundaries of their "tolerable pain," they are more likely to understand the most important questions in trading: What kind of pain is necessary to experience, and what kind of pain will directly destroy me? Therefore, they start planning their overall risk, position sizing and drawdown management, and strict control over deposits and withdrawals much earlier, focusing their energy on long-term survival rather than constantly worrying about whether the direction is right. 4. An obsessive "belief" in "rules" 👇 The most common saying in trading is: follow your system. But writing rules is easy; following them is difficult! Because in trading, there's no tutor to punish you, and no boss to deduct your salary. You are your own boss; if you make a mistake, you have to punish yourself severely. This often leads to wishful thinking, a reluctance to punish oneself for violating trading rules, the belief that no one will notice a single slip-up, and the belief that trading habits can be easily changed or selectively ignored. Once these habits form, it becomes impossible to adhere to any trading system long-term. > Moreover, most people can't be ruthless with themselves. > But many successful traders are different. Their obedience to rules carries an almost religious conviction. > Once this structure is transferred to a trading system, discipline becomes second nature. I have my own trading punishment system: violating the rules requires doing something I utterly dislike but that won't harm me. It took me a long time to truly implement this system. For many successful traders, however, "punishing" themselves is something they do immediately, and they do it more precisely, without delay, and with greater ruthlessness. 5. Aftercare, the trading review system👇 The most important aspect of B*SM is not the pain itself, but aftercare, and the same applies to trading. > Journaling, reviewing, and adjusting strategies are essentially processes of transforming pain into power. > If you don't review your trades, your system will never evolve. Most people often have to go through many interruptions, avoidances, and giving up before slowly establishing the habit of reviewing their trades. M people are already familiar with the aftercare structure, so incorporating this mindset into trading reduces the psychological barrier and makes it easier to adhere to. ⚠️This doesn't mean that S people or people without any "special inclination" can't become good traders. After all this, you'll find that it essentially boils down to three points: a high pain threshold, a clear sense of boundaries, and long-term adherence to rules. These are characteristics that every consistently profitable trader possesses, and theoretically, everyone can gradually develop them in different ways. It's just that, statistically speaking, M people may acquire these structures earlier and more naturally. So the question is, are switch traders even stronger? I don't know, I have very few friends who are both switch traders and professional traders, haha. This is merely a speculative analysis based on a sample of "true M-type traders" I know. It's a divergent personal observation, not a psychology paper, and doesn't constitute investment advice, but the logic is sound. Just for fun! twitter.com/0xPickleCati/statu...
BTC
1.4%
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Pickle Cat
12-06
It's unbelievable that someone in the world has such a similar profit/loss curve to me, yet our trading styles are completely opposite! Have I finally found a long-lost bro? @coolish Compare our live trading charts side-by-side; you can see the profitable phases are almost identical. But here's the question: given that high-frequency trading is generally unprofitable for most people, how come: He trades 10+ times a week I barely make a few trades a quarter Then why are our curves still almost synchronized? I'll use my childhood favorite game, League of Legends, as an analogy: I'm like someone who lurks in the bushes, waits for the right moment, unleashes a devastating attack, and then retreats from the battlefield, waiting for the next opportunity. He's more like someone who likes to be in the center of the battlefield, probing back and forth with the enemy, looking for their mistakes, and then initiating a team fight with his ultimate. ⚠️Here's the key point: Regardless of our fighting styles, we both win by winning a crucial team fight, so of course our curves look similar. The problem for most retail investors lies here: > Many people don't understand "high-frequency" trading as last-hitting minions. > It's about constantly engaging in meaningless team fights. > They force team fights when it's not their time. > However, there are only one or two truly crucial team fights that can secure victory. > If you treat every move like a high-risk, high-reward bet, you'll inevitably get wiped out by the market. His kind of "high-frequency" trading is actually: last-hitting minions, farming jungle camps, trial positions, and micro-management. The truly crucial team fights where you unleash your ultimate skill occur are at a low frequency, similar to mine. ⚠️ But ordinary people simply can't control this balance. Traders like Paul (a genius) are one in a million. Some retail investors don't learn, don't practice, and just watch Paul's high-frequency trading and think it's cool. Many high-frequency day traders aren't lacking in talent, but rather they haven't found the right timing and waste opportunities. So you either need to thoroughly understand Paul's methods, or reduce your trading frequency and wait for the right opportunity. Thanks to Paul for providing such a valuable supplementary perspective. I truly hope that more truly skilled traders will share their insights in the future. There are already few true players in the market, and even fewer who can voice their opinions. Cherish them. twitter.com/0xPickleCati/statu...
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