This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COIt 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 key.Remaining calm, cool, and collected, both during times of extreme downturn 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. If you felt excitement or despair the past few days, whether you bought the dip or were liquidated, take a step away from the charts. 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 likely to end poorly. This is because the decisions are usually motivated by one of two things: greed or fear.Decisions motivated by greed typically compel 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 into much larger 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. As Bitcoin recovers, take some time to assess how you mentally handled the stress. Markets are designed to toy with your head and force you to deviate from your plan. It’s my belief that we are about halfway through the bull market, meaning there is a lot of uncharted territory ahead and you will need to be focused to navigate what is to come.NOTE - There is very little to chart today. Bitcoin is flat and altcoins are still very risky. Let's take the weekend to reset and reassess on Monday.In This Issue:Staying Calm Is KeyBitcoin Thoughts And AnalysisWhat Is Blockchain?Intellectual Curiosity Is A Competitive AdvantageThe Senate Banking Committee Is Questioning Crypto Banks The IRS Wants You To Pay Taxes… ObviouslyThe FED Is Researching CBDCsMy Recommended Platforms And Tools
The Wolf Den #247 - Staying Calm Is Key
The Wolf Den #247 - Staying Calm Is Key
The Wolf Den #247 - Staying Calm Is Key
This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COIt 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 key.Remaining calm, cool, and collected, both during times of extreme downturn 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. If you felt excitement or despair the past few days, whether you bought the dip or were liquidated, take a step away from the charts. 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 likely to end poorly. This is because the decisions are usually motivated by one of two things: greed or fear.Decisions motivated by greed typically compel 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 into much larger 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. As Bitcoin recovers, take some time to assess how you mentally handled the stress. Markets are designed to toy with your head and force you to deviate from your plan. It’s my belief that we are about halfway through the bull market, meaning there is a lot of uncharted territory ahead and you will need to be focused to navigate what is to come.NOTE - There is very little to chart today. Bitcoin is flat and altcoins are still very risky. Let's take the weekend to reset and reassess on Monday.In This Issue:Staying Calm Is KeyBitcoin Thoughts And AnalysisWhat Is Blockchain?Intellectual Curiosity Is A Competitive AdvantageThe Senate Banking Committee Is Questioning Crypto Banks The IRS Wants You To Pay Taxes… ObviouslyThe FED Is Researching CBDCsMy Recommended Platforms And Tools