If you do desire to get this email more often, you can join the paid version!The paid version is only $15 a month and goes out every single weekday. It is just like the issue you are currently reading! Composing this newsletter is how I spend the majority of my time, and I take the fact that my members are paying me very seriously. I would love to have you become a more frequent part of this community.https://www.getrevue.co/profile/TheWolfDen/membersIf you cannot pay with a credit card, please respond to this email and we can get you setup with crypto. If you do want to pay with crypto, I can offer 7 months for the price of 6, or 14 months for the price of 12 for the inconvenience!A few quick thoughts for the aspiring traders out there.Traders do not average downA common grave mistake many traders make is Averaging Down: buying more of the coin as the price drops with the logic that a good thing is now cheaper (an even better bargain). This logic applies to investing, not to trading. A trader has an invalidation level for their idea — price dropping significantly should invalidate their trade and cause their stop loss to fire! Most beginners do not understand this and dig a deeper hole than necessary.The only time you average down is when you already had set orders in place to fill a full position. Never add to a loser if that was not your plan. Thta's how you become a bag holder and "passionate community member."Risk management is everythingRisk Management is boring — and happens to be the most essential skill necessary to be profitable. Understanding how much to risk on a trade and how to properly balance a portfolio are exponentially more important than entries and exits. Learning this takes time — most new traders are broke before they understand risk.Most people would be far better off slowly investing a small percentage of their entire portfolio in crypto — and in Bitcoin, in particular. The casino never closes. You have to.The crypto market is open 24/7, giving traders the feeling that they always have to be trading. This causes tremendous fatigue and FOMO (fear of missing out) for emotional traders. Nobody can effectively track a market that is perpetually available, and new traders find it difficult to step away. This often ruins both their personal lives and destroys their finances. You need to find life balance and be able to remove yourself from the market on a regular basis.Trading is HARD. Be an investor first, and if you insist on trading, do it with a small percentage of your capital.This newsletter is ALWAYS 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!In This Issue:Tips For Aspiring TradersBitcoin Thoughts And AnalysisAltcoin ChartsChart RequestsWill Coinbase’s Success Pump Bitcoin?Peter Theil Expresses Bitcoin ConcernsElrond Gold Continues To Make BreakthroughsMoonbeam: Multi-Chain DApp Development PlatformBoson Protocol - dCommerceThe Wolf Of All Streets Podcast Ft. Mark YuskoMina Mainnet Is LiveMy Recommended Platforms And Tools
The Wolf Den #216 - Tips For Aspiring Traders
The Wolf Den #216 - Tips For Aspiring Traders
The Wolf Den #216 - Tips For Aspiring Traders
If you do desire to get this email more often, you can join the paid version!The paid version is only $15 a month and goes out every single weekday. It is just like the issue you are currently reading! Composing this newsletter is how I spend the majority of my time, and I take the fact that my members are paying me very seriously. I would love to have you become a more frequent part of this community.https://www.getrevue.co/profile/TheWolfDen/membersIf you cannot pay with a credit card, please respond to this email and we can get you setup with crypto. If you do want to pay with crypto, I can offer 7 months for the price of 6, or 14 months for the price of 12 for the inconvenience!A few quick thoughts for the aspiring traders out there.Traders do not average downA common grave mistake many traders make is Averaging Down: buying more of the coin as the price drops with the logic that a good thing is now cheaper (an even better bargain). This logic applies to investing, not to trading. A trader has an invalidation level for their idea — price dropping significantly should invalidate their trade and cause their stop loss to fire! Most beginners do not understand this and dig a deeper hole than necessary.The only time you average down is when you already had set orders in place to fill a full position. Never add to a loser if that was not your plan. Thta's how you become a bag holder and "passionate community member."Risk management is everythingRisk Management is boring — and happens to be the most essential skill necessary to be profitable. Understanding how much to risk on a trade and how to properly balance a portfolio are exponentially more important than entries and exits. Learning this takes time — most new traders are broke before they understand risk.Most people would be far better off slowly investing a small percentage of their entire portfolio in crypto — and in Bitcoin, in particular. The casino never closes. You have to.The crypto market is open 24/7, giving traders the feeling that they always have to be trading. This causes tremendous fatigue and FOMO (fear of missing out) for emotional traders. Nobody can effectively track a market that is perpetually available, and new traders find it difficult to step away. This often ruins both their personal lives and destroys their finances. You need to find life balance and be able to remove yourself from the market on a regular basis.Trading is HARD. Be an investor first, and if you insist on trading, do it with a small percentage of your capital.This newsletter is ALWAYS 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!In This Issue:Tips For Aspiring TradersBitcoin Thoughts And AnalysisAltcoin ChartsChart RequestsWill Coinbase’s Success Pump Bitcoin?Peter Theil Expresses Bitcoin ConcernsElrond Gold Continues To Make BreakthroughsMoonbeam: Multi-Chain DApp Development PlatformBoson Protocol - dCommerceThe Wolf Of All Streets Podcast Ft. Mark YuskoMina Mainnet Is LiveMy Recommended Platforms And Tools