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."Do not save what is left after spending, but spend what is left after saving." -- Warren BuffettI went on a bit of a tirade on Twitter yesterday about the importance of saving money and changing your habits to make this a priority. Any small business owner knows that the best way to have larger margins is often to cut expenses.Saving is a powerful tool."A penny saved is a penny earned." -- Benjamin FranklinMany people live paycheck to paycheck and have no savings. For some, this is unavoidable with their present earnings and expenses and is a reality that they will struggle with throughout their lives.Some others don’t realize that the difference between struggling each day and accumulating wealth could be as simple as making coffee and meals at home every day instead of going to Starbucks and eating out.Here's a simple example, based on a friend of mine that I had in my 20s. This guy (like me) had no savings and was living check to check. He always complained that he had no money.He bought 2 Starbucks coffees a day and went out drinking in NYC 2-3 nights a week. For anyone who has ever been to New York, you know that a "cheap"night out can easily cost $100.Let's estimate that he was spending $3,000 a year on coffee, when he could have just had it at work (for FREE) and at home. Let's say he would have spent $1,000 a year instead. He could have saved $2,000 a year.$2,000 a year earning 5% interest (conservative in the stock market) saved for 40 years (until he is 65) would be $14,079.98 when he retires. That's JUST the savings on coffee for 1 year, invested. 7x on his money for the price of drinking coffee at home or work.Going out one less time each week would have saved him roughly another $5000 a week. A few more meals at home? A few more thousands of dollars.Do this for a few years and you can literally have hundreds of thousands more dollars when you retire - if not millions.There's nothing wrong with spending money on the things that you love. The only true reason to make extra money is to buy more time and experiences and to use it as a tool to help enjoy your life. That said, cutting out small, unnecessary expenses can be the difference between a comfortable retirement and a lifetime of stress.I choose comfort.I also choose to put a significant amount of those savings into Bitcoin.There are almost no trades in today's newsletter, because I can't see any trades worth taking! The altcoin market looks awful and stocks look a bit topped out in general. Hard to find much at the moment across the board. No trade is a position.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 AnalysisAltcoinsLegacy MarketsTrade Management Case Study - BZRXStagflation 101How To Use Burger SwapInvesting 101 With Chamath PalihapitiyaIRS Cracking Down On Bitcoin & MoneroApple Is Censoring CoinbaseThe Wolf Of All Streets Podcast Ft. Ido Sadeh ManMy Recommended Platforms And Tools
The Wolf Den #95 - How To Manage A Trade And More
The Wolf Den #95 - How To Manage A Trade And…
The Wolf Den #95 - How To Manage A Trade 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."Do not save what is left after spending, but spend what is left after saving." -- Warren BuffettI went on a bit of a tirade on Twitter yesterday about the importance of saving money and changing your habits to make this a priority. Any small business owner knows that the best way to have larger margins is often to cut expenses.Saving is a powerful tool."A penny saved is a penny earned." -- Benjamin FranklinMany people live paycheck to paycheck and have no savings. For some, this is unavoidable with their present earnings and expenses and is a reality that they will struggle with throughout their lives.Some others don’t realize that the difference between struggling each day and accumulating wealth could be as simple as making coffee and meals at home every day instead of going to Starbucks and eating out.Here's a simple example, based on a friend of mine that I had in my 20s. This guy (like me) had no savings and was living check to check. He always complained that he had no money.He bought 2 Starbucks coffees a day and went out drinking in NYC 2-3 nights a week. For anyone who has ever been to New York, you know that a "cheap"night out can easily cost $100.Let's estimate that he was spending $3,000 a year on coffee, when he could have just had it at work (for FREE) and at home. Let's say he would have spent $1,000 a year instead. He could have saved $2,000 a year.$2,000 a year earning 5% interest (conservative in the stock market) saved for 40 years (until he is 65) would be $14,079.98 when he retires. That's JUST the savings on coffee for 1 year, invested. 7x on his money for the price of drinking coffee at home or work.Going out one less time each week would have saved him roughly another $5000 a week. A few more meals at home? A few more thousands of dollars.Do this for a few years and you can literally have hundreds of thousands more dollars when you retire - if not millions.There's nothing wrong with spending money on the things that you love. The only true reason to make extra money is to buy more time and experiences and to use it as a tool to help enjoy your life. That said, cutting out small, unnecessary expenses can be the difference between a comfortable retirement and a lifetime of stress.I choose comfort.I also choose to put a significant amount of those savings into Bitcoin.There are almost no trades in today's newsletter, because I can't see any trades worth taking! The altcoin market looks awful and stocks look a bit topped out in general. Hard to find much at the moment across the board. No trade is a position.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 AnalysisAltcoinsLegacy MarketsTrade Management Case Study - BZRXStagflation 101How To Use Burger SwapInvesting 101 With Chamath PalihapitiyaIRS Cracking Down On Bitcoin & MoneroApple Is Censoring CoinbaseThe Wolf Of All Streets Podcast Ft. Ido Sadeh ManMy Recommended Platforms And Tools