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!It is very easy to get caught up in the excitement of trading. However, the best traders understand this and have plans in place to avoid it, to keep a clear head, and to navigate the market analytically without being influenced by good or bad emotions.Staying Calm Is KeyRemaining calm, cool, and collected, both during times of concern and pressure as well as during times of immense success, is something that successful traders have mastered. Many traders aspire to the profession because they picture a life that is filled, every day, with tons of excitement.Trading is, of course, often a flurry of excitement and change, but if you want to be a good and successful trader, constantly feeling that rush of adrenaline is a no-no. Successful traders have learned to fight off the typical rush of excitement that many traders fall victim to. That’s because they understand that if they bring their emotions to their trading space, bad things are likely to follow.Being a slave to your emotions leads to making snap judgments and ill-advised trading decisions that are not likely to end well. This is because the decisions are usually motivated by one of two things: greed or fear.Decisions motivated by greed typically move a trader to stay in a position far longer than is reasonable and far past the point when the trader should have jumped ship.In the end, these types of trading choices turn small losses in too much larger losses, losses that could have ultimately been avoided.Trading decisions motivated by fear usually lead to the opposite result:Traders, crippled by the fear of losing or having taken the wrong position, tap out of trades before they have a chance to develop. This often leads to the trader bringing in minimal profits whereas if they’d stayed the course, they could have made a handsome profit.Winning traders look like Clint Eastwood as “Dirty Harry”– coolly analyzing the market, rationally-not-passionately, and then calmly and quietly executing a trading strategy.If they suffer a small loss, it’s no big deal. It doesn’t bother them to the point where they spend the next hour obsessing over what they did wrong. When a trade is a winner, they don’t jump for joy – because they’re not surprised. They expect to win.REMAIN CALM AND YOU WILL MAKE MORE MONEY (or at least lose less).In This Issue:Bitcoin Thoughts And AnalysisEthereum All Time HighAltcoin ChartsLegacy MarketsDeFi Lending And Borrowing, ExplainedWhat Is Going On With Tether?Grayscale Is On A Buying SpreeBitcoin Is The Most Popular Trade On Wall StreetThe Wolf Of All Streets Podcast Ft. Justin SunMy Recommended Platforms And Tools
The Wolf Den #159 - Staying Calm Is Key
The Wolf Den #159 - Staying Calm Is Key
The Wolf Den #159 - Staying Calm Is Key
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!It is very easy to get caught up in the excitement of trading. However, the best traders understand this and have plans in place to avoid it, to keep a clear head, and to navigate the market analytically without being influenced by good or bad emotions.Staying Calm Is KeyRemaining calm, cool, and collected, both during times of concern and pressure as well as during times of immense success, is something that successful traders have mastered. Many traders aspire to the profession because they picture a life that is filled, every day, with tons of excitement.Trading is, of course, often a flurry of excitement and change, but if you want to be a good and successful trader, constantly feeling that rush of adrenaline is a no-no. Successful traders have learned to fight off the typical rush of excitement that many traders fall victim to. That’s because they understand that if they bring their emotions to their trading space, bad things are likely to follow.Being a slave to your emotions leads to making snap judgments and ill-advised trading decisions that are not likely to end well. This is because the decisions are usually motivated by one of two things: greed or fear.Decisions motivated by greed typically move a trader to stay in a position far longer than is reasonable and far past the point when the trader should have jumped ship.In the end, these types of trading choices turn small losses in too much larger losses, losses that could have ultimately been avoided.Trading decisions motivated by fear usually lead to the opposite result:Traders, crippled by the fear of losing or having taken the wrong position, tap out of trades before they have a chance to develop. This often leads to the trader bringing in minimal profits whereas if they’d stayed the course, they could have made a handsome profit.Winning traders look like Clint Eastwood as “Dirty Harry”– coolly analyzing the market, rationally-not-passionately, and then calmly and quietly executing a trading strategy.If they suffer a small loss, it’s no big deal. It doesn’t bother them to the point where they spend the next hour obsessing over what they did wrong. When a trade is a winner, they don’t jump for joy – because they’re not surprised. They expect to win.REMAIN CALM AND YOU WILL MAKE MORE MONEY (or at least lose less).In This Issue:Bitcoin Thoughts And AnalysisEthereum All Time HighAltcoin ChartsLegacy MarketsDeFi Lending And Borrowing, ExplainedWhat Is Going On With Tether?Grayscale Is On A Buying SpreeBitcoin Is The Most Popular Trade On Wall StreetThe Wolf Of All Streets Podcast Ft. Justin SunMy Recommended Platforms And Tools