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.With the market picking up, I want to reflect on how you should be approaching your trades moving forward.It's time to trade like a Samurai.Accept all possible losses before entering the battleI love this. I always advise you to “plan your losses.” Every single time you enter a trade, you should know exactly how much money you will lose if the trade goes against you. If you stick to your plan, then you have already accepted the potential loss before taking the trade. The ONLY thing you can control in trading is how much you lose. Center yourself in mind, body & spiritI had a long conversation about this topic with AK Koroush on my podcast. Balance in life and trading is everything. You should only trade when you are in the proper mood and emotional state. You cannot expect to be profitable or successful if you are not centered and under control. For some, this means taking the weekends off and closing all trades regardless of the conditions. For others, this means allotting a small time each day to the market with a hard stop after this time frame. Only you know when you are at your best. The market doesn’t. Sharper senses are rewarded by the market, a dull state of being is punished. Trust your inner skills and intuitionYou have to create your own system based on your own lifestyle and expectations. It makes NO DIFFERENCE what someone else has to say about your trades or your trading, which is why it is impossible to copy someone else. You have to develop your own system that fits your own skills and trust it when you execute trades. Copying someone’s system is bound to fail you at one point or another. You are susceptible to being put in a tough position you aren't prepared for, so follow your path and only your path.Imagine victory clearlyJust like you know exactly how much you will lose if the trade goes wrong, you should be identifying your targets and not changing them when price arrives. Do not be greedy, take profit according to plan. Once your plan is set, let the market come to you, sit back and relax. The hard part is over.Only exist in the present to conquer fearFear should never be a part of your trading. You have to conquer your fear and emotions before you can be a successful trader. Take a deep breath and remember why you are here. At some point, in some state of mind, your plan made sense. Your emotions will steer you off your path, a path that was clear when you were emotionless. Set them aside when it comes to your money.Never stop a course of action once you begunThere’s no going back once you enter a trade. There’s no changing your plan. You enter, step away, and let the trade run its course, for better or for worse. The time to build your conviction is before you take the trade. After your decision is made, your plan is cemented.In This Issue:Trade Like A SamuraiBitcoin Thoughts And AnalysisAltcoin ChartsSEC Approves Bitcoin-Centric ETFIs Tether In Hot Water?Total Value Locked In DeFi Hits 200BMy Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO
The Wolf Den #346 - Trade Like A Samurai
The Wolf Den #346 - Trade Like A Samurai
The Wolf Den #346 - Trade Like A Samurai
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.With the market picking up, I want to reflect on how you should be approaching your trades moving forward.It's time to trade like a Samurai.Accept all possible losses before entering the battleI love this. I always advise you to “plan your losses.” Every single time you enter a trade, you should know exactly how much money you will lose if the trade goes against you. If you stick to your plan, then you have already accepted the potential loss before taking the trade. The ONLY thing you can control in trading is how much you lose. Center yourself in mind, body & spiritI had a long conversation about this topic with AK Koroush on my podcast. Balance in life and trading is everything. You should only trade when you are in the proper mood and emotional state. You cannot expect to be profitable or successful if you are not centered and under control. For some, this means taking the weekends off and closing all trades regardless of the conditions. For others, this means allotting a small time each day to the market with a hard stop after this time frame. Only you know when you are at your best. The market doesn’t. Sharper senses are rewarded by the market, a dull state of being is punished. Trust your inner skills and intuitionYou have to create your own system based on your own lifestyle and expectations. It makes NO DIFFERENCE what someone else has to say about your trades or your trading, which is why it is impossible to copy someone else. You have to develop your own system that fits your own skills and trust it when you execute trades. Copying someone’s system is bound to fail you at one point or another. You are susceptible to being put in a tough position you aren't prepared for, so follow your path and only your path.Imagine victory clearlyJust like you know exactly how much you will lose if the trade goes wrong, you should be identifying your targets and not changing them when price arrives. Do not be greedy, take profit according to plan. Once your plan is set, let the market come to you, sit back and relax. The hard part is over.Only exist in the present to conquer fearFear should never be a part of your trading. You have to conquer your fear and emotions before you can be a successful trader. Take a deep breath and remember why you are here. At some point, in some state of mind, your plan made sense. Your emotions will steer you off your path, a path that was clear when you were emotionless. Set them aside when it comes to your money.Never stop a course of action once you begunThere’s no going back once you enter a trade. There’s no changing your plan. You enter, step away, and let the trade run its course, for better or for worse. The time to build your conviction is before you take the trade. After your decision is made, your plan is cemented.In This Issue:Trade Like A SamuraiBitcoin Thoughts And AnalysisAltcoin ChartsSEC Approves Bitcoin-Centric ETFIs Tether In Hot Water?Total Value Locked In DeFi Hits 200BMy Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO