The Golden Rules in Crypto Trading w/ The Wolf of All Streets
Some of his trading advice boils down to several ground rules:
- "You can't trust a trader who has never been broke"
- "Invest in stuff you are passionate about"
- "Dollars are for spending, crypto is for saving"
- "Don't FOMO, follow the plan"
Timestamps of the podcast:
00:55 Wealth App Intro
02:20 From Dj to Crypto Trader
03:25 The snowball effect
06:30 N°1 Mistake in trading: FOMO
07:03 You can't trust a trader who's been broke
07:50 Using your emotional instinct
09:27 Trading psychology and emotions
12:44 Another golden rule... never compare to other assets
13:49 Doing 10% in 3 minutes
16:58 The case of Yam
20:28 Having the financial discipline
20:45 Focus on the fundamentals
27:06 Explaining to Grandma Suzie
32:30 Never having over 10% in crypto
37:20 Reading self-help books
38:44 I'm crazy about mainstream adoption
The video premiered on September 9, 2020.