My limited knowledge of trading

Trading or buying a stock, crypto, property, whatever, reveals the many layers of knowledge there is. External knowledge, and knowledge of self.

External knowledge = I think bitcoin will go up due to a, b and c.

external knowledge = I know how to manage buying and selling and holding of bitcoin.

knowledge of self = I know how much I believe in bitcoin and my behaviour if I'm wrong. Am I buying due to fomo? Will I panic-sell? Am I risking too much? This actually determines your actual action.

It is only when there is an alignment in knowledge that you can succeed. Your knowledge about the external world is right, and you know enough about yourself to execute it.

And I guess with time, there is a certain kind of peace. You know that even if you "missed out" on an opportunity, it really isn't that simple.

For example, holding bitcoin. You could have sold when there was little invested but it 10x ed, you could have been hacked, you could have panic-sold. So many ways to lose it. But if you know yourself, you can mitigate it. If you think it's a fomo, you can buy a bit. If you think you're panic-selling, you can sell a bit.

That's why I know and not just understand on a surface level that I can't just all in on a hunch and expect to make it. Because once it drops, I'm psychologically gonna panic-sell. Unless it's not a significant amount. And it can't just go up without coming down. This perspective helps, especially when you read those stories of people making it by betting big.