My Most Important Lesson I can Teach You for Making Money | Hacked: Hacking Finance


My Most Important Lesson I can Teach You for Making Money

Posted on .

My Most Important Lesson I can Teach You for Making Money


This article was posted on Sunday, 12:48, UTC.

I’ve been an entrepreneur since I was 16 years old. I started investing and playing poker when I was 17 years old. One day I skipped school because I bought warrants for 1 200 USD and I wanted to monitor the situation. Within 3 hours I made $5 000. I sold it quickly and went to school. During a sociology class in high school, I played heads up for $1 000. I lost, but it was fun, and my friends were watching. I know about the “urge” to earn money quick. It gives a kick; your adrenaline starts pumping through your veins. It becomes an addiction. It even get’s fun to lose money. This is very dangerous.

// -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- //

I must admit that I see a lot of the same “rookies” in our community on Workplace. My guess is that many of our members are chasing profits on a daily basis and get kicks out of watching the prices move up and down. I cannot blame them either, as I was, and probably is, like that myself. I’ve always been impatient. It has been both a blessing and a curse. It has made me a lot of money, it has made me lose more money, it has made me miss huge gains and I’ve been struggling with FOMO (fear of missing out).

Also read: Dealing With The Fear Of Missing Out

Humans aren’t wired to trade

I believe that humans aren’t made to trade. It’s not something we have in our DNA. It is something we must learn how to do, and how to disconnect our human emotions. People that lose a trade tend to risk more on the second trade to earn back what they already lost and then some. It’s a far too common mistake, which I have done myself many times. You have to be able to disconnect your emotions and to follow a strict strategy that you stick to no matter what. You are allowed to change your strategy and tactics, but that should not be something you do daily.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

My biggest mistake?

I sold all my bitcoins (800) in 2015 when they were at their lowest (200 USD). I made a lot of money on trading cryptocurrencies, but I was too obsessed with it. I was watching the charts daily (like most of you are doing now). And when the prices started to gain traction in 2016, you can believe I felt an intense FOMO. However, I had decided not to go back in as I wouldn’t want to become obsessed with the charts once again. If I had invested my bitcoins in ethereum in 2015, I would have had more than 50 000 000 million USD today. Chew on that for a few seconds.

But I’ve realized that I didn’t need to watch the charts on a daily basis. I could simply have told myself that: “I want to hold these bitcoins for three years no matter what.” Or that I wanted to buy ethereum for all my bitcoins and then leave them for four years or more. Then I would be able to disconnect myself from the daily charts and probably have reached “financial freedom” by the age of 26.

As you might imagine, it has been hard to see that your prediction back in 2014 and 2015 came through, bitcoin reached 3000 USD, and ethereum is killing it. I’ve been working with myself on getting over the fact that I could have made 50 000 000 USD. What comforts me is that these opportunities happen all the time. I know there’s thousands of investors that have experienced the same. Not only with cryptocurrencies, but with stocks (look at Tesla), commodities and so forth.

You don’t earn money; you steal money

Another interesting aspect of trading and investing is that you are not making money on good trades or investments. You are taking money from other traders and investors. The price of bitcoin is purely based on supply and demand. I bet you can find a person that wants to sell you a bitcoin for 10 000 USD, if you buy that bitcoin then it is worth 10 000 USD. But you have to be able to sell it again to capitalize on the asset.

Investing and trading are money changing hands. Nothing more, nothing less. Money isn’t created, money isn’t lost.

What I’ve learned

The most important lesson I can teach you is to have patience.

HPS! (Have Patience Stupid!)

Create a strategy that you think will win, and stick to it. Don’t be obsessed and follow the charts minute by minute, it will only drive you crazy. When I talk about patience, it could be one-year horizon or even a ten-years horizon. Not a daily horizon. We have a famous saying in Norway:

TTT (Ting tar tid = Things take time)

Members ask me why we don’t have more trading recommendations on We could make tens of thousands of trading recommendations every day, but how good would they be? Opportunities in the market aren’t something that appears on demand. We do not want to give our members recommendations that are destined to fail. As I’ve explained previously; never lose money.

Also read: Never lose money

What I’m doing now

I’ve managed to distance myself from being obsessed with trading, whether it’s trading cryptocurrencies or CFDs on IG (e.g.). It has made me more happier, more comfortable and less stressed. That is an important factor to take into account for creating a good life.

Also read: What makes a good life?

I’m more experienced, more patient, more intelligent. I’ve learned the hard way, and you should learn from what I’ve done (and not done). Now I’m only focusing on the following:

  1. Increase my monthly income
  2. Invest 33% of my monthly income in different assets (see the 33% club)
  3. Reduce stressful projects and schemes
  4. Spend more time with family and friends (still working on this)
  5. Start working out and eat healthier (still working on this)

Since I stopped trading on a daily basis, I’ve become a lot happier and satisfied with my life. I was able to take a breather and shift my focus. and its community is a direct outcome of my shift in focus. And I’m glad that so many members enjoy our information and that I can at least help a few people to avoid the same mistakes I’ve made.

When that is said, I’m not saying it’s bad to day trade, but you need to follow a strict strategy that you stick to and not let your human emotions decide for you. I will most likely return to day trading when I get more time, but I’ll do it differently next time.

In this article I talk mostly about trading and investing, but the same rules can be applied to entrepreneurship and starting your own business. Patience is as important here.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.

Feedback or Requests?

Jonas Borchgrevink

Jonas Borchgrevink

Founder of and CryptoCoinsNews

  • user

    AUTHOR RH2302

    Posted on 1:20 pm June 18, 2017.

    As always, good material to think about and act towards.

    I think you are right by saying people aren’t born to trade. Even though I am aware of all the stress trading can give you and how to counter it, I still feel it.

    Reading this enables me to take a look from a different perspective. It gives me trust that, in due time, everything will fall In it’s place.

    Having sold a bunch of LTC a week prior to this increase suddenly doesn’t feel that relevant anymore.

    Thank you for this

  • user

    AUTHOR visiondream3

    Posted on 1:46 pm June 18, 2017.

    Great insight Jonas. I held on to my ltc (based on your community recommendation) even when it was dead for a while. I had thoughts in between to sell it and move on, but I stayed put because I was curious to see where it would be in a month, and thankfully now it paid off. Well said Jonas! It’s all about patience and not having the herd mentality. I usually trade with 24 hour charts with oversold and overbought conditions and that gives me peace of mind not having to stare at the chart for hours. It gives sufficient time to react eventhough we may miss the absolute tops and bottoms!

  • user

    AUTHOR bitsurfer

    Posted on 4:58 pm June 18, 2017.

    Well said.. looking at the charts everyday is stressful!! 😆 It slowly yet drastically takes focus from the more important things, on an hour to hour basis.

  • user

    AUTHOR Tyson Gray

    Posted on 6:27 pm June 18, 2017.

    This is good advice Jonas. I like your saying in Norway, Ting tar tid. 🙂

  • user

    AUTHOR Ritesh Sheth

    Posted on 7:34 pm June 18, 2017.

    Hey Thanks a lot, But an monthly recommendation chart of few alt coins will be highly appreciated , So that No need to look at the chart daily. Ha ha.
    Great work, Thanks.

  • user


    Posted on 12:35 am June 19, 2017.

    Am I just too much of a newbie? I love looking at charts every day, it’s so much fun. And I made more money last month than all of last year. I find day trading more predictable, less risky and much more fun than what I was doing before: running a fashion company. That was incredibly stressful and with little reward. Because of the fashion timeline, I was investing hundreds of thousands of dollars for a potential return that may or not may come 8-10 months ahead of time. For my last two seasons, I started a new brand direction that I knew was right for the collection – it cost my business 30% of our revenues. Without the cash reserves from my business partner’s investment, we would have gone under.

    There’s a lot I miss about having my own fashion brand but overall with day trading I am happier and more certain about my financial future.

    Fyi, I transfer all my profits on a daily basis. Also, I check the charts at 3-4x a day now, at high points and low points. If it’s an exciting day then I check more often. Working pretty well so far…

    • user

      AUTHOR Jonas Borchgrevink

      Posted on 7:38 am June 19, 2017.

      I wish you all the best, but you are in for a hell of a ride I guess. Or maybe you are one in a million “born to trade” 😉

    • user

      AUTHOR porcupine1967

      Posted on 2:55 pm June 19, 2017.

      I’m such a newbie as well but I do know to never get emotional over stocks.

  • user

    AUTHOR porcupine1967

    Posted on 2:53 pm June 19, 2017.

    I think if you follow the advice of Gordon Geckko you cannot go far wrong.

  • user


    Posted on 2:00 am June 20, 2017.

    Haha, omg, I laughed out loud about “one in a million.” I seriously doubt it. Most of the time I have no idea what’s going on with the charts or the prices. It’s just this is the funnest thing I’ve ever done to make money (btw, I’ve lost a lot of money too…). I loved designing lingerie but sometimes the thought of outputting more products into this world made with toxic processes was just too much. Plus, I like the energy of cryptos and everything this world stands for.

  • user

    AUTHOR Tommy

    Posted on 7:46 am June 20, 2017.

    good reading. im just in the “starting” phase of cryptocurrency trading myself. Think i’ve probably done my fair share of the rookie mistakes already, emotions, fear of missing out, waking up waay early to check the charts. And feeling and immense impatience when seing negative numbers, to quickly sell.
    now the last week ive stressed out a hell of a lot less, and just put in a few high sale orders, to make sure not to miss the pumps/whales roaming the altcoins lately. and slowly and a little more steady, ive almost recovered my loss in 1 week. So now i’m going for more mid-long term with about 75% of it. and using only 25% for day to day fun trading.
    this subscripiton to this page, has already paid itself 🙂

  • user

    AUTHOR P. H. Madore

    Posted on 11:38 pm June 24, 2017.

    Two days ago I had some change in a trading account, invested it all into something that had a lot of value, drunkenly, which I had no other information about. Then I put it for sale at 300% the cost, and four days later discovered I had profited. I took these profits, converted them to dogecoin, and further gambled that (dice, bitsler) up another 1000%, pushed it back into the trading account, converted it to .25 bitcoins. I had a lot of fun but I’m fully aware it hardly ever works this way. Patience is important, and I lack it more than most. I’d be a billionaire if I had the patience I desire to have, as you would be a mult-millionaire.

  • View Comments (15) ...
    The team:
    Dmitriy Lavrov
    Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years of trading experience. He covers Forex, Commodities and Cryptocurrencies. He is among the top 10 most Read More
    Jonas Borchgrevink
    Jonas Borchgrevink is the founder of and He is a serial entrepreneur, trader and investor. He shares his own personal journey on // -- Discuss and ask Read More
    Mate Csar
    Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive Read More
    Mati Greenspan
    Senior Market Analyst at // -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- // Important: Never invest Read More
    Rakesh Upadhyay
    Rakesh Upadhyay is a Technical Analyst and Portfolio Consultant for The Summit Group. He has more than a decade of experience as a private trader. His philosophy is to use Read More
    Pamela Meropiali
    Account Manager
    Pamela Meropiali is responsible for users on // -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- // Read More
    Joseph Young
    Joseph Young is a finance and tech journalist & analyst based in Hong Kong. He has worked with leading media and news agencies in the technology and finance industries, offering Read More
    Decentralized exchanges have long been thought of as a solution…