I made $367,924.12 in 4 months of trading.
The secret?
My decision-making process.
Here’s how to make better decisions and create your dream life:
Have you ever wondered what separates you now from your future self?
⋄ With millions in the bank.
⋄ Lovely family.
⋄ Health as an ox.
- That's 10,000 small decisions. but more importantly...
RIGHT decisions.
We live in a world of overwhelming choice.
If you can't make a decision with conviction — you waste precious time and energy.
So how to do that?
Don't worry, I'm rushing with a solution!
Basically, we have 3 types of decisions.
And I'm gonna tell you more about these in a moment, but before some facts:
Did you know?
The brain is capable of making only a few good decisions throughout the day.
So.
Buying a house —or— which bread to use for a sandwich.
For our brain, there's no difference.
Both decisions burn the same calories at the same time.
Now back to the topic...
We have 3 types of decisions:
- 0-Stake
- Low-Stake
- High-Stake
Few words about them...
- 0-Stake
These have 0 consequences.
⋄ Ordering a meal.
⋄ Buying water.
⋄ Choosing a seat in the cinema.
As you already know, these burn the same energy as important decisions.
So decision time shouldn't be longer than 10sec.
If you struggle — flip a coin.
- Low-Stakes
These have consequences, but none are earth-shattering and there're plenty of acceptable outcomes.
⋄ Buying shoes.
⋄ Booking a hotel.
⋄ Renting a car.
How to deal with them?
A good option is to outsource these decisions to a person:
⋄ Set basic criteria
⋄ Ask for a recommendation
⋄ Take advice
I try not to spend more than 5-10min on these.
- High-stakes
These decisions create your reality.
⋄ Which house should I buy?
⋄ Which job should I accept?
⋄ Buy Bitcoin or Ethereum? Or both?
They have long-term consequences so you want get them right.
Right?
Lemme tell you how...
The optimal decision process
But first, take a look at this chart.
It shows what's the optimal time required to make a good decision.
For 0 minutes of thinking probability of a successful decision is 50%
Like flipping a coin.
The more we know, the better the decision will be.
Our sweet spot is between 0,5h-1,5h
Why?
It's the most optimal and efficient window to make decisions.
If you take away every distraction, sit down and focus purely on the decision — with a high probability decision will be right.
And yes, you get better results for 12h than 1,5h.
But ask yourself:
Is it worth wasting an entire day of your precious life to get a 3% more chance to be right?
In life-death scenarios - Absolutely!
In every other - No.
The quality of the decision means less than the time that it takes to make a decision.
In trading, business, and life you need to make decisions fast.
When the train arrives at the station, you've only a few moments to decide.
Go.
or.
Not.
And yeah, the second train will arrive shortly.
But the first one is gone forever.
Like Bitcoin for $3000 in 2019.
Remember these 10,000 decisions on your way to your dream life?
Handle them fast.
ahhh I'll think about this tomorrow
Sounds familiar?
Delaying important decisions you can make today only slows down growth.
Potential benefit declines, or loss increases.
So why are we delaying important decisions?
Well, I see 2 reasons:
- Avoiding the pain of having to decide about life-impact things.
- Overrate our ability to view a decision from a new angle.
So to be closer to your dream life
It's important to decide quicker.
I use two strategies that may help you make better decisions:
Number 1
Think what the person who is way ahead of you would do in your situation.
What Martin would do
Which one Jeanna would pick
Simple and effective.
The answers will often come to your mind in seconds.
Number 2
Picking a better option of 2.
Let's say you want to be a freelancer and struggle with picking a skill.
Put them all together and pick a front-runner based on your intuition.
Then compare each of the options one-by-one with the front-runner.
Each time chose the better option based on your criteria and discard the other one.
If you eliminate the option, it's gone forever.
Repeat the process until you get the one final choice.