This newsletter is sponsored by Bitget! Bitget is the best crypto exchange for both spot and leverage, world’s largest crypto copy trading platform, and the official partner of Juventus Football Club. They are offering my subscribers up to a $3000 bonus for signing up. You can find out more by clicking here!Quick note: I am in Miami for the Bitcoin Conference, which after only a day has been an incredibly positive and rewarding experience. I have met quite a few of you, and each and every one have been gracious and kind. Yesterday alone I recorded incredible conversations with Jeff Booth, Kevin O'Leary, Caitlin Long, Robert Breedlove and MANY more. I am unable to livestream from here, which is why you are not seeing more content on YouTube! Continuing on....A basic rule of investing is to cut your dead weight and move your money to more promising assets. This rule makes perfect sense in a vacuum, and is a part of my strategy, especially as a trader. There's no reason to be married to a single asset, or to believe that you need to "make your money back" on that assets vs. any other. Your money is the same - you should put it somewhere that it is more likely to grow.Part of becoming a decent trader is removing your emotions from your decisions. This means that you cannot be "married to your bags," unless you bought them as long term investments and your core premise has not changed. If you believe that the asset has value which is not reflected in the price, then there's no reason to sell.If you have been in crypto for a long time, then it is somewhat inevitable that you are holding old bags from years past that never fulfilled their potential. You have likely had ample opportunity to either take profit or cut your losses, depending on when you purchased them in the cycle. These coins have varying levels of potential moving forward, so this is not a one-size-fits-all approach.If you are holding something that is down 99%, has no development, is abandoned and is merely a name on a small exchange, then it's likely best to accept and write off the loss and move on. Yes, it may get one more pump out of left field at some point, but you are unlikely to time it at that point and it's likely better for you both financially and emotionally to cut ties.Up to you.If your coin's team is still actively building and there is a glimmer of long term potential, then the situation is different. You have a decision to make.No time better than the present to make that decision.It's time to dig in and do some research. Reevaluate the premise for the buy. Are you fooling yourself into believing that the asset still has potential? Did your position start as a trade, become an investment when you removed your stop loss, then leave you as a "passionate community member" when it dropped 90%? If the coins down 99% but you are still wearing a t shirt with the name of the project and screaming at anyone who will listen on twitter anytime they neglect to mention your coin?If this is the case, you should considering moving on to something newer and more promising.Bottom line - it's time to reconsider old positions and research new ones.In This Issue:A Lesson For Bag HoldersBitcoin Thoughts And AnalysisEthereum Supply Shock? IntoTheBlockThe Bitcoin Rich ListDon’t Be Clueless Come Tax TimeMiami Has A BullThe Wolf Of All Streets Podcast Ft. Raoul Pal And Jeff DormanMy Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO
The Wolf Den #473 - A Lesson For Bag Holders
The Wolf Den #473 - A Lesson For Bag Holders
The Wolf Den #473 - A Lesson For Bag Holders
This newsletter is sponsored by Bitget! Bitget is the best crypto exchange for both spot and leverage, world’s largest crypto copy trading platform, and the official partner of Juventus Football Club. They are offering my subscribers up to a $3000 bonus for signing up. You can find out more by clicking here!Quick note: I am in Miami for the Bitcoin Conference, which after only a day has been an incredibly positive and rewarding experience. I have met quite a few of you, and each and every one have been gracious and kind. Yesterday alone I recorded incredible conversations with Jeff Booth, Kevin O'Leary, Caitlin Long, Robert Breedlove and MANY more. I am unable to livestream from here, which is why you are not seeing more content on YouTube! Continuing on....A basic rule of investing is to cut your dead weight and move your money to more promising assets. This rule makes perfect sense in a vacuum, and is a part of my strategy, especially as a trader. There's no reason to be married to a single asset, or to believe that you need to "make your money back" on that assets vs. any other. Your money is the same - you should put it somewhere that it is more likely to grow.Part of becoming a decent trader is removing your emotions from your decisions. This means that you cannot be "married to your bags," unless you bought them as long term investments and your core premise has not changed. If you believe that the asset has value which is not reflected in the price, then there's no reason to sell.If you have been in crypto for a long time, then it is somewhat inevitable that you are holding old bags from years past that never fulfilled their potential. You have likely had ample opportunity to either take profit or cut your losses, depending on when you purchased them in the cycle. These coins have varying levels of potential moving forward, so this is not a one-size-fits-all approach.If you are holding something that is down 99%, has no development, is abandoned and is merely a name on a small exchange, then it's likely best to accept and write off the loss and move on. Yes, it may get one more pump out of left field at some point, but you are unlikely to time it at that point and it's likely better for you both financially and emotionally to cut ties.Up to you.If your coin's team is still actively building and there is a glimmer of long term potential, then the situation is different. You have a decision to make.No time better than the present to make that decision.It's time to dig in and do some research. Reevaluate the premise for the buy. Are you fooling yourself into believing that the asset still has potential? Did your position start as a trade, become an investment when you removed your stop loss, then leave you as a "passionate community member" when it dropped 90%? If the coins down 99% but you are still wearing a t shirt with the name of the project and screaming at anyone who will listen on twitter anytime they neglect to mention your coin?If this is the case, you should considering moving on to something newer and more promising.Bottom line - it's time to reconsider old positions and research new ones.In This Issue:A Lesson For Bag HoldersBitcoin Thoughts And AnalysisEthereum Supply Shock? IntoTheBlockThe Bitcoin Rich ListDon’t Be Clueless Come Tax TimeMiami Has A BullThe Wolf Of All Streets Podcast Ft. Raoul Pal And Jeff DormanMy Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO