Kesalahan Terbesar Investasi Gua di Umur 24 Tahun

Summary

In this video, the speaker reflects on their investment journey, sharing valuable lessons learned from mistakes in trading, including revenge trading, overconfidence, and the hot hand fallacy. They emphasize the importance of sticking to one's circle of competence and learning from past errors, like being too attached to failed projects or deviating from familiar investments. The speaker also stresses the significance of continuous learning, practical experience, and adapting to market changes. Ultimately, they offer motivational advice for investors to stay resilient and focused on their expertise while navigating the challenges of the market.

Takeaways

• 😀 Revenge trading is dangerous. After significant losses, it's important not to impulsively try to recover losses through aggressive trading, as it can lead to further mistakes.
• 😀 Overconfidence is a trap. Success in investments can lead to overconfidence, making you believe you're always right, which increases the risk of making poor decisions.
• 😀 Emotional decision-making harms investment strategies. Emotional reactions, such as panic selling or buying due to fear or greed, can damage your portfolio.
• 😀 Avoid becoming emotionally attached to your investments. Getting too attached to a stock or cryptocurrency can prevent you from making rational decisions when things go wrong.
• 😀 Take a step back when in loss. Instead of doubling down on bad positions, assess the situation with a clear mind and consider cutting losses if needed.
• 😀 Stick to your circle of competence. Invest in areas where you have deep knowledge. Venturing outside this can lead to unnecessary risks and losses.
• 😀 Cut losses early. Even if you're emotionally attached to an investment, if the fundamentals change, it's better to cut your losses rather than holding on until it's too late.
• 😀 Constantly learn from mistakes. Acknowledge your errors, but don't let them define your future decisions. Learning from them helps improve your strategy over time.
• 😀 Focus on a few core assets you truly understand. Having a deep understanding of certain investments, like Bitcoin or a specific industry, increases the likelihood of success.
• 😀 Practice rationality over emotion. Always question whether your decisions are based on solid reasoning or emotional impulses, and seek opposing perspectives to ensure a balanced approach.

Q & A

What is revenge trading, and why is it a dangerous practice?

Revenge trading refers to the emotional impulse of trying to recover losses by making risky or impulsive trades. It is dangerous because it often leads to further losses, as decisions are driven by emotions rather than rational analysis. The speaker highlights how they avoided this mistake by learning from past experiences.

How did the speaker avoid repeating the same mistakes during their losses in the market?

The speaker avoided repeating the same mistakes by recognizing the importance of emotional control and not acting impulsively. They learned to step back, take a break, and assess the situation rather than making quick, emotional decisions.

What is the 'hot hand fallacy' and how did it affect the speaker's trading decisions?

The 'hot hand fallacy' is the belief that because someone has been successful in the past, they are more likely to continue being successful. The speaker admits they fell into this trap, especially with stocks like 'Friend' and 'Arto,' where they became overconfident after a series of wins, leading them to make poor decisions when the market turned against them.

What lesson did the speaker learn from their overconfidence in investing?

The speaker learned that overconfidence can lead to significant losses. They emphasized that it is important to stay grounded, continue learning, and not assume that past successes will guarantee future profits. Overconfidence in assets like crypto and stocks can cloud judgment and lead to unnecessary risks.

How did the speaker handle a situation when they recognized a change in the project's fundamentals?

When the speaker noticed a change in the fundamentals or management of an investment (like the 'marketplace merah'), they made the rational decision to exit the investment, rather than holding on in the hope that it would recover. This highlights the importance of not getting emotionally attached to investments.

What is the concept of 'circle of competence' and how does it apply to investing?

'Circle of competence' refers to staying within areas or assets where one has deep knowledge and expertise. The speaker emphasizes that they have a strong understanding of Bitcoin and public markets, but when they ventured outside of this circle (like in private deals or non-public investments), they encountered losses. It is crucial to focus on what you know best.

Why is it important to always seek different perspectives when making investment decisions?

Seeking different perspectives is important because it challenges assumptions and helps identify potential blind spots. The speaker discusses how they frequently consult with others to validate their decisions, ensuring they don't fall victim to confirmation bias or overconfidence.

How does the speaker compare their own experience to that of well-known investors like Warren Buffet?

The speaker compares their own mistakes to those of Warren Buffet, highlighting how even the most successful investors can make errors. Buffet's loss in airline stocks during the COVID-19 period is mentioned as a reminder that no one is immune to mistakes, emphasizing the importance of learning from them.

What does the speaker mean by 'gali lubang' and why is it harmful in investing?

'Gali lubang' refers to the practice of digging yourself deeper into a losing position in hopes of recovering losses. The speaker warns against this behavior, stating that it often leads to further losses and is a result of emotional attachment or overconfidence. It is important to know when to cut losses and move on.

How does the speaker recommend managing emotions when faced with a loss in the market?

The speaker recommends taking a break from the market to clear your mind and assess the situation rationally. They emphasize that emotional decisions, especially when driven by the desire to recover losses, are often detrimental. By stepping back, investors can avoid impulsive actions and make more informed decisions.