The Wolf Den #94 - Bitcoin, Trades, Requests And More
thewolfden.substack.com
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!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. You can always click the link gmail provides to read the entire email.It has been said that the people in your life can be separated into 3 categories: Mirrors, Crystal Balls and Angels.Sometimes the best way to make sense of life is to simplify it categorically.So, what do the categories represent?Crystal Balls: When you look at these people, they will show you your potential. When I am around them, I ask myself, “does this person share my values and have traits and accomplishments that I aspire to emulate? “If you are hanging around a crowd of determined and successful people, then they will probably motivate you and help push you forward. The same is true for a bad crowd - negative people who drag you down rather than lift you up. As I often say, if you are the smartest person in the room, you are in the wrong room. I look to surround myself with crystal balls, people who I can learn from. This is part of the reason that I love having the podcast - I get to speak to people like this on a regular basis.Mirrors: Someone who is a mirror gives you back exactly what you give. We often times befriend a mirror, marry a mirror and work with mirrors. Mirrors can also be people we instantly repel or despise. The mirror is agnostic, reflecting both our best and worst attributes. Life is filled with mirrors, by far the most common category we encounter.Angels: Angels are rare. They come and go quickly, and we often times don't recognize their presence until after they are gone. Angels come bearing gifts, advice, stories and information that helps propel us forward. Sometimes we are ready for this gift, sometimes we are not.Framing my life in this perspective, I have been able to make the most of relationships. My family members have always joked that I am a "friend collector." I can't walk down the street of any city in the world without running into a random acquaintance or making a new friend, stopping to engage with a stranger, or getting into a deep argument about the meaning of life with my cab driver. It takes me 40 minutes to go somewhere that should take 5. I have always enjoyed interacting with people and trying to learn from strangers. They inevitably can fit into the classifications above.Placing people into these categories I have been able to make the right decisions in my career in order to achieve what I have today. I understand the role and influence that individuals have in my life and can appreciate each for who they are. But I have no illusions. I have gone on to extend this philosophy to my trading strategy as well.Occasionally, the rare trade that does a 10x is an Angel, it can move your career forward at a rapid pace, increasing your tradable capital by many multiples and giving you more dry powder for future investments. Trades like ERD in 2020 and TRX in 2017 have been angels in my life. Trading Bitcoin for the first time was an angel. I didn't make a ton at first, but trading and discovering Bitcoin led me to where I am now and for that I am forever grateful. I did not understand at the time that discovering Bitcoin would change the path of my life forever, but have come to appreciate this fact.Most of my trades act as mirrors, reflecting my decisions directly back at me. There is nowhere to hide from the mirror. They tell me I didn't correctly set my stop loss, I revenge traded the market when I should have used patience, or sold too early and my emotions needed checking. Mirror trades are where I learn the most and can help me spot the bigger trends that are ultimately my crystal ball trades. The crystal ball trades and investments dictate my future. An example is my decision to allocate more of my portfolio to crypto moving forward.If you are looking to make a change in your life, relationships, or trading, try thinking in this perspective and see what you may learn about yourself. It will likely help you to surround yourself with people that can help you on your journey, and to make financial decisions that will help you accumulate wealth. Just a reminder to check out thewolfofallstreets.io. I try to “fill the gaps” between newsletter with more information and news on the site.A general note - whenever I draw a line on a chart, it should be viewed as elastic and not static. It is more of a zone. So the areas around those lines are usually more accurate. Further, I try to use multiple techniques and indicators on various charts, so if you are learning TA, you should read through all of these to see how I blindly look at a chart.If you are a new member, please refer to Issue 10 (you can click on it here - https://www.getrevue.co/profile/TheWolfDen/issues/the-wolf-den-crypto-newsletter-issue-10-219754 and have it sent to you) for instructions on how to make my charts your own.IMPORTANT NOTE - I will only accept requests on Wednesdays, between 8 AM and 1 PM EST. That will make sure that they are your most pressing requests. Please mark it in your calendar and email me by responding to this email!What's In This Issue?Bitcoin Thoughts And AnalysisAltcoin ChartsRisk-Free Rate 101Bitcoin And S&P More Correlated Than Ever... Still Not Particularly CorrelatedIs Davey Day Trader Back in Crypto?Can Quantum Computing Crack Bitcoin?The Wolf Of All Streets Podcast Ft. Matt StoverChart RequestsMy Recommended Platforms And Tools
The Wolf Den #94 - Bitcoin, Trades, Requests And More
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The Wolf Den #94 - Bitcoin, Trades, Requests 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!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. You can always click the link gmail provides to read the entire email.It has been said that the people in your life can be separated into 3 categories: Mirrors, Crystal Balls and Angels.Sometimes the best way to make sense of life is to simplify it categorically.So, what do the categories represent?Crystal Balls: When you look at these people, they will show you your potential. When I am around them, I ask myself, “does this person share my values and have traits and accomplishments that I aspire to emulate? “If you are hanging around a crowd of determined and successful people, then they will probably motivate you and help push you forward. The same is true for a bad crowd - negative people who drag you down rather than lift you up. As I often say, if you are the smartest person in the room, you are in the wrong room. I look to surround myself with crystal balls, people who I can learn from. This is part of the reason that I love having the podcast - I get to speak to people like this on a regular basis.Mirrors: Someone who is a mirror gives you back exactly what you give. We often times befriend a mirror, marry a mirror and work with mirrors. Mirrors can also be people we instantly repel or despise. The mirror is agnostic, reflecting both our best and worst attributes. Life is filled with mirrors, by far the most common category we encounter.Angels: Angels are rare. They come and go quickly, and we often times don't recognize their presence until after they are gone. Angels come bearing gifts, advice, stories and information that helps propel us forward. Sometimes we are ready for this gift, sometimes we are not.Framing my life in this perspective, I have been able to make the most of relationships. My family members have always joked that I am a "friend collector." I can't walk down the street of any city in the world without running into a random acquaintance or making a new friend, stopping to engage with a stranger, or getting into a deep argument about the meaning of life with my cab driver. It takes me 40 minutes to go somewhere that should take 5. I have always enjoyed interacting with people and trying to learn from strangers. They inevitably can fit into the classifications above.Placing people into these categories I have been able to make the right decisions in my career in order to achieve what I have today. I understand the role and influence that individuals have in my life and can appreciate each for who they are. But I have no illusions. I have gone on to extend this philosophy to my trading strategy as well.Occasionally, the rare trade that does a 10x is an Angel, it can move your career forward at a rapid pace, increasing your tradable capital by many multiples and giving you more dry powder for future investments. Trades like ERD in 2020 and TRX in 2017 have been angels in my life. Trading Bitcoin for the first time was an angel. I didn't make a ton at first, but trading and discovering Bitcoin led me to where I am now and for that I am forever grateful. I did not understand at the time that discovering Bitcoin would change the path of my life forever, but have come to appreciate this fact.Most of my trades act as mirrors, reflecting my decisions directly back at me. There is nowhere to hide from the mirror. They tell me I didn't correctly set my stop loss, I revenge traded the market when I should have used patience, or sold too early and my emotions needed checking. Mirror trades are where I learn the most and can help me spot the bigger trends that are ultimately my crystal ball trades. The crystal ball trades and investments dictate my future. An example is my decision to allocate more of my portfolio to crypto moving forward.If you are looking to make a change in your life, relationships, or trading, try thinking in this perspective and see what you may learn about yourself. It will likely help you to surround yourself with people that can help you on your journey, and to make financial decisions that will help you accumulate wealth. Just a reminder to check out thewolfofallstreets.io. I try to “fill the gaps” between newsletter with more information and news on the site.A general note - whenever I draw a line on a chart, it should be viewed as elastic and not static. It is more of a zone. So the areas around those lines are usually more accurate. Further, I try to use multiple techniques and indicators on various charts, so if you are learning TA, you should read through all of these to see how I blindly look at a chart.If you are a new member, please refer to Issue 10 (you can click on it here - https://www.getrevue.co/profile/TheWolfDen/issues/the-wolf-den-crypto-newsletter-issue-10-219754 and have it sent to you) for instructions on how to make my charts your own.IMPORTANT NOTE - I will only accept requests on Wednesdays, between 8 AM and 1 PM EST. That will make sure that they are your most pressing requests. Please mark it in your calendar and email me by responding to this email!What's In This Issue?Bitcoin Thoughts And AnalysisAltcoin ChartsRisk-Free Rate 101Bitcoin And S&P More Correlated Than Ever... Still Not Particularly CorrelatedIs Davey Day Trader Back in Crypto?Can Quantum Computing Crack Bitcoin?The Wolf Of All Streets Podcast Ft. Matt StoverChart RequestsMy Recommended Platforms And Tools