MONEY MANAGEMENT TRUMPS ALL

Time to chew my cud.

Wow! Last night I went to bed confident the uptrend was solid . . . and more bullish that ever . . . only to find we rolled over again . . . my balance dropped 15% from its peak. . . . and got stopped out . . . no matter how right you think you are . . . money management trumps all.

What I thought would happen yesterday is happening now. . . . I had a good ride from under 6300 and simply refuse to give much back.

Time to become a small trader again.

Remember, many large traders become small traders, most small traders remain small traders, a few small traders become large traders . . . and wise large traders choose to be small traders again . . .

You do not need sharp technical skills or market analysis to be a successful trader . . . the key to success is humility and money management.

The following is a must read for success in trading. If you can follow these principles you don’t need me or anyone else to be a successful trader. The Art of Execution: How the world’s best investors get it wrong and still make millions by Lee Freeman-Shor. This is available on Kindle for ten bucks. If you like my work please use the following link to help support this free blog. https://amzn.to/2AslFfL

To learn about bitcoin and why only bitcoin to hodl and sayvv the The Bitcoin Standard by Saifedean Ammous is recommended. https://amzn.to/2M2y4s3

If you want to start trading, I recommend Bitmex. It is a well managed derivative exchange. Here is my referral link. You will get a 10% discount and I get a small commission that helps finance these free articles. https://www.bitmex.com/register/8HOkwr

They do not allow anyone from the U.S. to open an account. If you need help to open an account email me at uglyoldgoat@protonmail.com.

UOG