The Problem With the Future: Both Chart Analysis and Psychic Reading

This is a cross-over post; dealing with the probabilities of futures, and that there are more than one futures. And, that a chart analyst could be completely correct for themselves, and completely wrong for other people.

Imagine giving a person advice to buy bitcoin. Bitcoin is most definitely going over a million and will be the currency of the future. But is it? Is it for all people?

• Bitcoin goes over one million. The future is brighter as real money becomes a thing.
• The person advised to buy bitcoin does everything wrong in securing it, and basically gives it away to a scammer.
• The person, kicks themselves for the rest of their lives, because they didn't buy bitcoin at $100k. And never gets any bitcoin.
• They are one of the few that has decided on a Mad Max future, where the internet/electricity is not guaranteed.
• The person took the clot shot, and also bought an entire bitcoin, and they have died, and no one knows the seed phrase.
• The person sells all their bitcoin at the exact bottom of the pull back.

As you can see, the mentality, expectations, and overall future path, greatly change how you would advice someone for best effect of that person.

The three types of people

Three people, given $1000 dollars and told to buy bitcoin

1. Buys the bitcoin, at its lowest point in a month, without trying, or looking at a chart.
2. Buys the bitcoin, at a mid price, although they studied the charts, but it drops just after they bought.
3. Buys the bitcoin, at the blow off top, because they waited and waited for the best possible entry, and then said, fuck it, and jumped in.

I have watched each of these kinds of people.

1. is usually already wealthy. Doesn't have any problems handling money, investing it, or even gambling it.
2. is this penny pincher, who is penny-wise and dollar-foolish. They are the ones who get ahead, only to have a repair bill take it all back. What really sucks is that these people are often very intelligent.
3. is the person who will bet their entire paycheck on a sure thing at the horse track. They are always looking for the 100x stock that they know exists, just around the corner. They have probably spent thousands on lottery tickets, this year. They are constantly broke.

And so, each of these needs different advice, and different help.

1. Don't really try to help them, as if you try to hard, you will just mess things up. Just advice them to get into bitcoin. "Bitcoin will be the future", you can tell them.
2. These people need training in finance. They need to be given solid (and often droll) advice, on each step of taking advantage of an upcoming financial event. These people have usually been taught by Cramer to do the exact opposite of what will get them the best performances.
3. These people do not need financial advice, they need mental help. They have some kind of trauma, that has led to a mindset of "they are always unlucky" or "the universe is against them". They need to find the trauma (usually from childhood) and fix it. They need therapy, and to engage in mindfulness exercises. Most likely, deep down, they feel like a loser, because they couldn't get their mother's love. Failing at that, they fail, or self-sabotage everything in their lives. Financial advice DOES NOT help this group of people.

The person's expectations greatly affects outcomes.

This is a bit woo-woo, but ignoring that, most people notice that a person's outlook affects the outcome. If they are a down person, they often get down results. whether they are attracting it to themselves, or are just blinded to any other outcome/they are looking for the down result.

It has been advised to get your expectations right, before doing anything physical.

Be
Do
Have

One teacher wrote. In anything, you want to "become" what you want to be, and then "do" what feels right, in going towards what you have decided to be. And then, it will follow, that you will "have" what you wanted.

Become a rich person (change your mindset. Change how you think about money. Change the way you speak about money)
Do what feels right, now that you are a rich person. (Pay off your CCs. Lower your monthly expenses. Start a side hustle.)
Have the lifestyle of a rich person.

(and the lifestyle of a rich person is not Lambos and Bottle service. It is reliable slightly used cars, and living well below your means, while constantly increasing your means. Most of these millionaires aren't even noticed when you pass them in a store.

Same chart, different outcomes.

It is truly weird that these three types of people, can be given the same chart, the same information, the same chart analysis, and get wildly different results.

And, if we really want to help people, we may need to break up our message to each group type, or put in our show preamble that we are only working with 1 of the 3 groups.

We are already starting off in the hole, because most people aren't taught anything about finances. Often not even how to balancing their checkbook. So, it is easy to see how someone could see someone struggling financially, means that they do not have enough financial literacy.

Further, each group views the other groups differently.

The wealthy look at the other groups as being dangerous to be around. They can't see what is obvious.

The middle class look at the poor as not working hard enough

The poor look at everyone else as just being much luckier than them.

(these are not good classifications. Wealthy, middle-class and poor. Because a rich person can be broke every once in a while. And a poor person can win the lottery, which they often lose quickly)

All of these views are incredibly wrong, and make it hard to interact with the other groups and provide actual support. (But they do make perfect sense from that groups' perspective.)

I wish this could be easily fixed, but there are powerful groups that want things to stay the way they are.

CC companies need financially illiterate people.

The consumer economy needs people who are easily manipulated by shame of not looking rich.

The schools are complicit. The advertising agencies are complicit. The govern-cement is complicit. The banksters are complicit. They psychology departments are complicit.

Do not feel ashamed at being at one level or another. Recognizing where you are is over half the battle. Once you do, you can fix it.

All images in this post are my own original creations.