There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks he must trade all the time. No man can always have adequate reasons for buying or selling stocks daily
You might have already noticed that whenever I talk about the crypto market I often suggest to stay on the safe side and not chase big profits.
My philosophy is quite simple:
It’s better to under profit than overshoot! (just getting less profit instead of dumping all money into the drain and undergoing extra loss!
As they say it’s better to make 1%, than to lose 10%.
This is what my risk management system is built on.
Wholesome habits of “not giving a damn” come with experience, unless you are a hardcore phlegmatic and have nerves of steel.
But what should one do if they have smidgens of experience and it’s hard to get by without a composed judgment?
How to implant yourself a zen-chip so that you don’t have to sit and watch while money is flowing into other people’s wallets?
And this is one of the reasons why beginners are often disappointed in trading on the stock exchange. There is no set of rules in the market. The same trading strategy under the same conditions may or may not work.
How to trade cryptocurrency if the market is unpredictable?
What to rely on?
The answer is that you better rely on unpredictability, my friend. And risk management.
Are great traders born or made?
What qualities should a successful trader possess?
To find answers to these questions, that have been a long time discussion amongst traders, we need to go back to Chicago of 1984. At that very time two legendary commodity traders Richard Dennis and Bill Eckhardt embarked on an experiment that went down in history as “Turtles”.
Anyone who learns how to place orders, open and close positions can claim to be a trader. But when comparing the properties and qualities of steadily earning traders and most other market participants, it turns out that there is little in common between them.
Welcome to the world of money! Bread, cash, dosh, dough, loot, luca, moolah…Call it what you like. Money can break us or it can make us.
In 2009, the reality show “Million Dollar Traders” was released on UK screens. Viewers could watch Hampstead Capital founder and hedge fund manager Lex Van Dam run an experiment risking $1 million.
never dealt with financial assets before.
The book from the founders of CoinGecko, “How to NFT”, is the only digestible reading about non-fungible tokens. It came out in 2021, at the height of the NFT revolution, and is the bible for NFT geeks. If you want to monetize your modest achievements in the field of solfeggio, cave painting and twine jumps – read on!