The Golden Rules in Crypto Trading w/ The Wolf of All Streets
In this video, Scott Melker aka The Wolf of All Streets talks with Alex Fazel, the host of Cryptonites TV. He shares his journey going from DJ to Crypto Trader, his best trading techniques, favorite trading indicators, and thoughts on mainstream crypto adoption.
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.