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All moments › Why Most New Traders Fail (A 20-Year Pro Explains) | ft. Will Hunting

Proper risk management during drawdowns prevents blowups; averaging down requires patience and discipline.

From Why Most New Traders Fail (A 20-Year Pro Explains) | ft. Will Hunting · jumps to 33:18 · speech

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I'm just focused on building exposure in a market that consistently over time has proven at these discounted prices, it usually is a good time to buy. And there's going to be instances where you get in a little early and you have to hold through some drawdown, but to your point, if you're properly managing your risk during that build out phase while you're biting that apple, you know, I'm trying to swallow it all in one go, you can actually end up averaging down, managing that process to make sure that you're not, you know, blowing up on the way down. Because I think a lot of people do do that. They, you know, they go all in on the first dip and then it keeps dipping, then they puke and they rebuy. The Warren Buffett thing I think is very interesting because it's so hard for crypto traders because, you know, nobody wants to get rich slowly because all they see on social media is people getting rich very quickly.
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