James Wang
1.4K posts

James Wang
@WBJcrypto
founder @JoinFortune / @Cornell / Investor










i think setting goals of $/month as a trader is extremely -ev its kinda corny but your only goal should be being the best trader possible crypto is way too unpredictable to set financial goals (besides more long term ones & even those will ultimately change due to market conditions) attaching yourself to a number will make you more emotional the further/closer you get to it as well e.g. you might get lazy if you hit the $10k goal within the first 7 days of the month however, if you focus on consistently improving your skills & being the best trader possible, money will inevitably follow some months you'll outperform, in others you'll underperform/be flat but regardless, you're making the most out of the market in front of you rather than emotionally chasing an arbitrary goal

most traders that trade highly volatile assets full time are better off not constantly shifting their goal posts. i.e. goal of $120k/year ($10k/month). if you make $100k in the first month, dont immediately reset your goal to $1.2m for the year. instead, recognize you’ve had a very good month, and that you may also have very bad months. keep the goal consistent. $10k/month is still the goal. in some cases, you can even argue that your goal is now $2k/month — still aim for the $120k and take the rest of the time to sit on your hands. improve/learn/etc. and take no positions unless it is literally free money. once you reframe from $120k -> $1.2m for the year, you’ve set a goal based off what’s likely a monthly high water mark. unlikely goals lead to bad risk management.

i think setting goals of $/month as a trader is extremely -ev its kinda corny but your only goal should be being the best trader possible crypto is way too unpredictable to set financial goals (besides more long term ones & even those will ultimately change due to market conditions) attaching yourself to a number will make you more emotional the further/closer you get to it as well e.g. you might get lazy if you hit the $10k goal within the first 7 days of the month however, if you focus on consistently improving your skills & being the best trader possible, money will inevitably follow some months you'll outperform, in others you'll underperform/be flat but regardless, you're making the most out of the market in front of you rather than emotionally chasing an arbitrary goal















