This newsletter is sponsored by PHEMEX, the only exchange that I use to trade crypto with leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out - you know that I never endorse a product that I do not use!Some of the best traders that I have ever met only trade a single asset.If you have ever dabbled in Forex, you will find these people - fixated on a single pair and oblivious to every other unrelated asset in the world. They identify as such - I am a EUR/USD trader, and AUD/JPY trader etc.In the crypto market, there are plenty of traders who have made millions only trading Bitcoin with leverage, completely ignoring altcoins and legacy markets. Then there are those who solely traded a single altcoin through 2017 and made generational wealth. I had a friend who only traded AION and turned thousands into millions focusing on this single coin.There are a lot of ways to skin a cat as a trader. There are endless opportunities for profit on thousands of assets and equally endless strategies for trading them. This can be a problem, especially in crypto where the casino never closes and there's always a coin that is pumping harder than the one you are trading. It's emotionally exhausting and inevitably causes FOMO.If you are overwhelmed with the amount of opportunity, then find a few assets that you prefer and study their price action and fundamentals. Get to know them better and focus on making money trading them. Eliminate the noise of crypto twitter and other traders screaming about huge green candles on other coins - they become irrelevant to you if you are focused. This will inherently force you to slow down, waiting for the right opportunity on a chart that you know like the back of your hand. You will likely trade less and make more.Everyone has a different approach - find one that works for you. If you are always jumping in and out of coins and "missing out," this may be worth trying.In This Issue:Bitcoin Thoughts And AnalysisAltcoin ChartsLegacy MarketsSecond-Order ThinkingA Bitcoin Supercycle?ETH Futures IncomingBlackRock Is Looking For Crypto ExpertsMy Recommended Platforms And Tools
The Wolf Den #144 - Focus On A Few Assets
The Wolf Den #144 - Focus On A Few Assets
The Wolf Den #144 - Focus On A Few Assets
This newsletter is sponsored by PHEMEX, the only exchange that I use to trade crypto with leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out - you know that I never endorse a product that I do not use!Some of the best traders that I have ever met only trade a single asset.If you have ever dabbled in Forex, you will find these people - fixated on a single pair and oblivious to every other unrelated asset in the world. They identify as such - I am a EUR/USD trader, and AUD/JPY trader etc.In the crypto market, there are plenty of traders who have made millions only trading Bitcoin with leverage, completely ignoring altcoins and legacy markets. Then there are those who solely traded a single altcoin through 2017 and made generational wealth. I had a friend who only traded AION and turned thousands into millions focusing on this single coin.There are a lot of ways to skin a cat as a trader. There are endless opportunities for profit on thousands of assets and equally endless strategies for trading them. This can be a problem, especially in crypto where the casino never closes and there's always a coin that is pumping harder than the one you are trading. It's emotionally exhausting and inevitably causes FOMO.If you are overwhelmed with the amount of opportunity, then find a few assets that you prefer and study their price action and fundamentals. Get to know them better and focus on making money trading them. Eliminate the noise of crypto twitter and other traders screaming about huge green candles on other coins - they become irrelevant to you if you are focused. This will inherently force you to slow down, waiting for the right opportunity on a chart that you know like the back of your hand. You will likely trade less and make more.Everyone has a different approach - find one that works for you. If you are always jumping in and out of coins and "missing out," this may be worth trying.In This Issue:Bitcoin Thoughts And AnalysisAltcoin ChartsLegacy MarketsSecond-Order ThinkingA Bitcoin Supercycle?ETH Futures IncomingBlackRock Is Looking For Crypto ExpertsMy Recommended Platforms And Tools