This newsletter is 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 - you know that I never endorse a product that I do not use!I post all of my trades on Twitter and always get a chuckle from the comments. They range from irrationally exuberant, with 20 rocket emojis and mentions of "mooning," to absolute disgust, hate filled diatribes and mentions about how "rekt" I am going to be.As I mentioned this morning, the only person who can "get you rekt" is yourself.You should NEVER copy someone's trades, because you have no idea how they will manage it. You are responsible for your own decisions and your own money. In this newsletter I share all of my trades, but think it is important to once again remind you that I view these as educational. I am trying to show you my thought process and the reason that I take the trades that I do. This does not mean that you should take the same trades. You need your own system. I lose money all the time on trades, which is totally fine and expected within my own system.You can't copy anyone's trade, because you are not in the same headspace, your financial situation is likely different and so are your expectations. Each trader is different and there is no one-size-fits all solution for trading.People frequently comment that my trades are "ballsy" or risky. I disagree.What's the worse thing that happens? My stop losses hit and I lose 1% of my account and move on with my life? There's nothing ballsy about any properly managed trade. We are all just guessing, so it's position size and stop loss that truly matter.This is my mental approach, but you may be more emotionally attached to your trades and portfolio, which is how I used to be as well. What works for me is unlikely to work for you.Use resources like this newsletter to figure out what kind of trader and investor you are and then take the ideas and put them into your own system. Above all, consider making yourself an investor first and keeping the trading small, in case you do end up losing money.Note: I have moved the charts back to the top of the newsletter. I have had a number of complaints about them being at the bottom and gmail truncating the emails. It seems clear that many of you are here for the charts, so I have listened and put them back up top, front and center. You can always click the link gmail provides to read the entire email.Just a reminder to check out thewolfofallstreets.io. I try to “fill the gaps” between newsletter with more information and news on the site.What’s in this issue?Bitcoin Thoughts And AnalysisAltcoin ChartsLegacy MarketsHow To InvestCalculating Crypto Taxes in The United StatesThe Inspirational Story Of SrirachaKazakhstan Makes Huge Investment In MiningGold Boomer Peter Schiff Births Bitcoin SonSushi Is On The MenuTokenizing Gas May Solve Expensive ETH Gas FeesThe Wolf Of All Streets Podcast Ft. Jonas SimanaviciusMy Recommended Platforms And Tools
The Wolf Den #93 - Trades, Taxes And More
The Wolf Den #93 - Trades, Taxes And More
The Wolf Den #93 - Trades, Taxes And More
This newsletter is 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 - you know that I never endorse a product that I do not use!I post all of my trades on Twitter and always get a chuckle from the comments. They range from irrationally exuberant, with 20 rocket emojis and mentions of "mooning," to absolute disgust, hate filled diatribes and mentions about how "rekt" I am going to be.As I mentioned this morning, the only person who can "get you rekt" is yourself.You should NEVER copy someone's trades, because you have no idea how they will manage it. You are responsible for your own decisions and your own money. In this newsletter I share all of my trades, but think it is important to once again remind you that I view these as educational. I am trying to show you my thought process and the reason that I take the trades that I do. This does not mean that you should take the same trades. You need your own system. I lose money all the time on trades, which is totally fine and expected within my own system.You can't copy anyone's trade, because you are not in the same headspace, your financial situation is likely different and so are your expectations. Each trader is different and there is no one-size-fits all solution for trading.People frequently comment that my trades are "ballsy" or risky. I disagree.What's the worse thing that happens? My stop losses hit and I lose 1% of my account and move on with my life? There's nothing ballsy about any properly managed trade. We are all just guessing, so it's position size and stop loss that truly matter.This is my mental approach, but you may be more emotionally attached to your trades and portfolio, which is how I used to be as well. What works for me is unlikely to work for you.Use resources like this newsletter to figure out what kind of trader and investor you are and then take the ideas and put them into your own system. Above all, consider making yourself an investor first and keeping the trading small, in case you do end up losing money.Note: I have moved the charts back to the top of the newsletter. I have had a number of complaints about them being at the bottom and gmail truncating the emails. It seems clear that many of you are here for the charts, so I have listened and put them back up top, front and center. You can always click the link gmail provides to read the entire email.Just a reminder to check out thewolfofallstreets.io. I try to “fill the gaps” between newsletter with more information and news on the site.What’s in this issue?Bitcoin Thoughts And AnalysisAltcoin ChartsLegacy MarketsHow To InvestCalculating Crypto Taxes in The United StatesThe Inspirational Story Of SrirachaKazakhstan Makes Huge Investment In MiningGold Boomer Peter Schiff Births Bitcoin SonSushi Is On The MenuTokenizing Gas May Solve Expensive ETH Gas FeesThe Wolf Of All Streets Podcast Ft. Jonas SimanaviciusMy Recommended Platforms And Tools