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Crypto Market Wizards
High-stakes Poker to Crypto Whale w/ Jason Mo
Jan 18, 2024
Guest Jason Mo, a former high-stakes poker player turned crypto trader, shares lessons from his poker days and his objective and rational approach to eliminating bagholder bias. Topics include being early to BTC and participating in the ETH ICO, lessons from poker, managing bag bias, Ethereum's moat and differentiating value, the potential comeback of DeFi, advice to new crypto participants, and traits of successful traders and investors.
01:05:48
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Quick takeaways
- Being objective and practicing risk management, similar to poker, is crucial for successful crypto trading.
- Patience is essential in the crypto market, as significant advancements and technological developments take time.
Deep dives
The importance of risk management and objectivity in trading
One of the main lessons from poker that can be applied to crypto trading is the importance of risk management and objectivity. Just like in poker, where players can make all the right decisions and still lose or make all the wrong decisions and win, it's essential to be objective about your trades and review your actions regardless of the outcome. Risk management is also vital, ensuring that you don't over-leverage or gamble with positions. Emotionally detaching yourself from wins and losses and approaching trading analytically can lead to more rational decision-making.
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