The past three months in the crypto market have been nothing short of a roller coaster ride. Bitcoin (BTC) plunged from $73,000 to $54,000 amid massive selling pressure, only to climb back up to $65,000. Meanwhile, traditional markets like the S&P 500 and other US stock indices have been hitting all-time highs repeatedly.

This volatile environment can be daunting, but as the saying goes, “a smooth sea never made a skilled sailor.” The most important aspect of this journey is the lessons we learn along the way. As someone who has been a full-time trader for two years, I’ve navigated these turbulent waters, and this journey has been full of lessons worth sharing.

Early Career in Traditional Finance

My journey began in the traditional finance sector, where I worked as a salesperson selling mutual funds. This role gave me a solid foundation in finance, but I always felt there was something more exciting out there. My interest piqued when I discovered cryptocurrency and the potential it held. This led me to pivot from traditional finance to the burgeoning world of crypto, landing a job at a crypto exchange. The transition was exhilarating, filled with new learning and a fast-paced environment.

Becoming a Full-Time Trader

After working in the crypto industry for a while, I decided to take the plunge and become a full-time trader. I thought this move would give me more time for myself and my family.

However, I quickly realized that full-time trading required longer hours and more dedication than my previous job. The learning curve was steep, and the challenges were many. Balancing the demands of full-time trading while trying to maintain a semblance of personal life was tougher than I had anticipated.

Portfolio Performance and Strategy

Over these two years, my portfolio has grown from $22,540 in early 2022 to $36,737 by mid-July 2024. While this growth is modest compared to the average crypto trader’s returns, I’m proud of the progress I’ve made. My strategy, for now, focuses on portfolio growth rather than “for living from it”, so I never take any withdrawals.

I hold a majority of my positions (90%) in leveraged BTC and ETH, on-chain, with the remainder sitting on exchanges where I take long and short positions frequently.

I also dabble in DeFi (decentralized finance), though my exposure remains limited. The technology fascinates me, but I tread cautiously.

Lessons Learned and Mental Health

Trading isn’t always smooth sailing; I’ve experienced significant downturns in my portfolio. However, these setbacks have taught me invaluable lessons: my mental health is positively correlated to my trading performance.

Maintaining mental health is crucial in this high-stakes environment. For me, walking over 15,000 steps daily serves as a form of meditation, helping me stay grounded and focused.

It works for me, though it might not for everyone.

Advice for Aspiring Full-Time Traders

For those considering a full-time trading career, think carefully.

It’s not as easy as it appears on social media. The journey is fraught with challenges and can easily lead to mental breakdowns, especially after a series of losing trades.

My advice is to be prepared for the psychological impact and have strategies to cope with the stress. Remember, what works for one person might not work for another, so find what helps you maintain your mental health and stick with it.

A New Hope

Reflecting on my journey, I realize how much I’ve grown as a trader and a person. While the past two years have been challenging, they’ve also been incredibly rewarding. With five months left in 2024, I hope to reach a portfolio value of $40,000 or more. For those aspiring to trade full-time, approach it with caution and be prepared for a demanding yet potentially rewarding path.

Cheers.