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Wen Lambo Crypto Podcast

Dec 28, 2017

“Who wants to buy something for $12,000 and sell it 6 hours later for $16,000? I’m not promising you can do that in the future, but it’s happening right now.” - Tai Lopez

(click to tweet)

Trading gets messy when it gets emotional.

After a big Bitcoin win, the surges of adrenaline can can send you into mega-confidence. This is when you are most vulnerable; as a trader riding off emotion instead of fact. It is our job to keep a level head by continuing to do the research and education to stay one step ahead of the markets.

On today’s episode of The Bitcoin Crypto Mentor Mastermind show, we do just this by answering the people’s questions.  From discussing the future of cryptocurrency to learning how to read a data chart, the unprecedented knowledge-dropping in today’s episode will help take your trading game to the next level.

Don’t forget! You can also listen to The Tai Lopez Show on Spotify! Click “Follow” and let me know what you think!

“Crypto is not stock. Stock is equity. You actually own a little bit of Apple, a little bit of Snapchat, a little bit of Amazon. Most cryptocurrencies are protocol, utility tokens, or security tokens.” - Tai Lopez

(click to tweet)

Points to Keep In Mind

  • Crypto is the new frontier, that means there aren’t experts but there’s opportunity
  • Take note of the sentiment when trading; at which walls are people waiting to buy/sell
  • Keep track of your tax-basis, the price you buy before it goes up (you pay taxes on the differential)
  • Most people can’t become day-traders or don’t want that lifestyle
    • Instead, seek out a buy-and-hold strategy where you understand the technology, the tokenomics, and a bigger-picture/more long-term view
  • If Bitcoin drops to $4,000, there’s $123 million in orders put in
  • Volatility and risk-reward ratio: if you take more risk, you have potential for more reward and greater loss
  • Human psychology is fear-based: this is the driver of market sentiment, so track the fear/emotion