The Wolf Den #266 - Trade With The Chart, Not With Your Heart
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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.COBy now, you likely know that I view myself primarily as an investor and believe that everyone should approach markets through this lens. If you do decide to trade, even professionally, it should only be with a small percentage of your portfolio, roughly 15%. Investors almost always outperform traders.Trade with the chart, not with your heart.When I do trade Bitcoin, I solely use the chart - I don’t pay attention to narrative, because I have seen time and time again that “events” do not move the market, or that the market reacts irrationally and unpredictably in the short term. People make emotional decisions based on news that are counter to the technicals of an asset. We have had countless narratives in the past - Wall Street Bonuses, Chinese New Year, FED meetings, STIMULUS CHECKS, Elon Musk - these were all supposed to massively impact Bitcoin price. These events are all cut from the same cloth - conjecture, speculation, fear, greed and hopium. At best they move the market up slightly and temporarily, but aren't driving the bus for long. Bitcoin is a movement, driven by far more than a single idea or event, and there is an entire story behind Bitcoin, not a particular page or chapter. You have to have patience if you are investing in a movement.Narratives in the crypto space are like miracles in religion - they give people a reason to justify things that they cannot explain. They need a chronicle to give them an excuse for their losses, or to make them feel brilliant if price goes their way.We have all seen it - everyone screams MANIPULATION! when they lose money. This generally happens when they are on the wrong side of a significant move. There has to be a reason, be it a whale selling to cover margin calls in the stock market, India banning crypto, or Bitcoin loving unicorns flying in from China to steal our coins.People always seem to need answers for why things happen.The simple fact is, you losing money does not mean that a force is conspiring against you. It just means you lost. You don’t need an outside explanation - you just need an idea for the next trade.Blaming outside forces for your losses is just your inability to accept that a loss is your fault or that you were "wrong." You are personally accountable for your losses. You should understand the risks of trading in any market that you choose to participate in. If you need a narrative, then you are likely too emotional or unstable to be an effective trader, which is the case for 95% of people, as that percentage of traders reportedly fail. Bitcoin is a free market, unaffected by narrative. There’s a buy order for every sell order. Large players moving the market with their orders is not manipulation - it is a key facet of the free market. They just happen to have more money than the rest of us. It’s your job to do what they do and not be their prey. It’s that simple.Bottom line - if you think the market is manipulated, don’t put your money in it. If you need a narrative to explain why price does what it does, you may not be cut out for this.Take what the market gives, accept your fate, claim responsibility for the outcome, and move on to the next opportunity. Bitcoin will go up with time because of its inherent value and mathematical scarcity. We don't need news events for the number to go up. As a trader, don’t fixate on the news, let the chart dictate your positions. Investors on the other hand should buy and hold with a multiple decade time frame, able to sort out the inter-day noise from what actually matters.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!In This Issue:Trade With The Chart, Not With Your HeartBitcoin Thoughts And AnalysisAltcoin ChartsLegacy MarketsChart RequestsThe Mechanics Of A Meme Stock RallyThe Market Reacts To The FED’s CharadeMark Cuban Caught In A Rug PullThe SEC Wants Your Opinion On A Bitcoin ETFBinance Is Removing A Few Trading PairsRepublican Party Will Accept Crypto DonationsThe Wolf Of All Streets Podcast Ft. Duncan & Griffin Cock FosterMy Recommended Platforms And Tools
The Wolf Den #266 - Trade With The Chart, Not With Your Heart
The Wolf Den #266 - Trade With The Chart, Not…
The Wolf Den #266 - Trade With The Chart, Not With Your Heart
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.COBy now, you likely know that I view myself primarily as an investor and believe that everyone should approach markets through this lens. If you do decide to trade, even professionally, it should only be with a small percentage of your portfolio, roughly 15%. Investors almost always outperform traders.Trade with the chart, not with your heart.When I do trade Bitcoin, I solely use the chart - I don’t pay attention to narrative, because I have seen time and time again that “events” do not move the market, or that the market reacts irrationally and unpredictably in the short term. People make emotional decisions based on news that are counter to the technicals of an asset. We have had countless narratives in the past - Wall Street Bonuses, Chinese New Year, FED meetings, STIMULUS CHECKS, Elon Musk - these were all supposed to massively impact Bitcoin price. These events are all cut from the same cloth - conjecture, speculation, fear, greed and hopium. At best they move the market up slightly and temporarily, but aren't driving the bus for long. Bitcoin is a movement, driven by far more than a single idea or event, and there is an entire story behind Bitcoin, not a particular page or chapter. You have to have patience if you are investing in a movement.Narratives in the crypto space are like miracles in religion - they give people a reason to justify things that they cannot explain. They need a chronicle to give them an excuse for their losses, or to make them feel brilliant if price goes their way.We have all seen it - everyone screams MANIPULATION! when they lose money. This generally happens when they are on the wrong side of a significant move. There has to be a reason, be it a whale selling to cover margin calls in the stock market, India banning crypto, or Bitcoin loving unicorns flying in from China to steal our coins.People always seem to need answers for why things happen.The simple fact is, you losing money does not mean that a force is conspiring against you. It just means you lost. You don’t need an outside explanation - you just need an idea for the next trade.Blaming outside forces for your losses is just your inability to accept that a loss is your fault or that you were "wrong." You are personally accountable for your losses. You should understand the risks of trading in any market that you choose to participate in. If you need a narrative, then you are likely too emotional or unstable to be an effective trader, which is the case for 95% of people, as that percentage of traders reportedly fail. Bitcoin is a free market, unaffected by narrative. There’s a buy order for every sell order. Large players moving the market with their orders is not manipulation - it is a key facet of the free market. They just happen to have more money than the rest of us. It’s your job to do what they do and not be their prey. It’s that simple.Bottom line - if you think the market is manipulated, don’t put your money in it. If you need a narrative to explain why price does what it does, you may not be cut out for this.Take what the market gives, accept your fate, claim responsibility for the outcome, and move on to the next opportunity. Bitcoin will go up with time because of its inherent value and mathematical scarcity. We don't need news events for the number to go up. As a trader, don’t fixate on the news, let the chart dictate your positions. Investors on the other hand should buy and hold with a multiple decade time frame, able to sort out the inter-day noise from what actually matters.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!In This Issue:Trade With The Chart, Not With Your HeartBitcoin Thoughts And AnalysisAltcoin ChartsLegacy MarketsChart RequestsThe Mechanics Of A Meme Stock RallyThe Market Reacts To The FED’s CharadeMark Cuban Caught In A Rug PullThe SEC Wants Your Opinion On A Bitcoin ETFBinance Is Removing A Few Trading PairsRepublican Party Will Accept Crypto DonationsThe Wolf Of All Streets Podcast Ft. Duncan & Griffin Cock FosterMy Recommended Platforms And Tools