From the desk of Louis Sykes @haumicharts
Seeing as the year is coming to a close, here’s a short list of some lessons I’m taking away from this hectic 2020:
- I know a lot less than I what think I do.
- Relative strength is a lot more important than what I thought it was. People who followed relative strength in 2020 were the big winners. Seeing those names keeping their heads above water in March lead markets higher.
- To not be scared of new highs and the danger of the attitude that something’s “gone too far too fast”. Where do you draw the line on whether something’s gone too far? 20%, 50%, 100%? These are emotional levels, not rational ones.
- You’re never chasing if you’re buying a breakout.
- Don’t try to be smarter than what I really am. Popular momentum names were continually showing up in my scans, but I refused to buy them. Instead, I was looking at names that didn’t have as much coverage thinking it made me somehow intellectually superior (spoiler, it doesn’t). Note to self: just buy what’s working Louis, and stop making this more difficult than what it needs to be.
- It doesn’t matter how great of an analyst you are if you don’t have the discipline to follow your systems.
- Simplicity > complexity
- Writing is a surefire way to learn. To write is to think and if you can write you have power.
- Not being able to see friends and family during lockdown reinforced just how much we’re all dependent on each other. The people you decide to surround yourself with is one of the most influential decisions you can make in your life.
- And one final lesson is to
never buy XRPbe grateful. I’ve been incredibly fortunate to have this opportunity to work alongside these guys. I’ve learned countless lessons, developed my toolkit, and designed a process of looking at the market. So I want to thank everyone for making this all possible. I’m forever grateful for helping me to do what I love.
This is a very small snippet of all lessons I’ve taken away from this year. It’s been a crazy one, so here’s a proverbial pat on the back for getting through it all.
It’s summer round these parts in New Zealand, so I’ll be spending the last few days of 2020 with my dog out on some of Hawkes Bay’s beaches eating plenty of pavlova and trifle. Hoping you all had a happy Christmas, and I’ll see you in the new year!