Welcome to Issue #4 of Wealth Mastery
This is a great milestone as we celebrate the end of the first month. Thank you so much for believing in us and being members of this newsletter.
In this week’s issue Jesse has written up a fantastic report for us on LCX. Forrest dives into three HOT Polka Dot defi plays to watch out for. Defi Dad shares the best rates that you can get right now in defi. I did an AMA with the team from Swissborg. And I cover all of the latest happening in defi as well as upcoming market events. And finally Rekt Capital shares his thoughts on Bitcoin and what is happening in the market.
A quick reminder that all research and market analysis is provided for educational and informational purposes, and should not be considered as financial advice. You are ultimately responsible for your investments and trades, and they should only ever be entered by those who understand the risks, are willing to lose their entire investment, and properly understand how to manage their risk.
Also every issue will contain more information, tips, hints, and analysis than you can make use of. Wealth Mastery is a tool, you are the craftsman. We are not a signal or pump group, we are a tool shop, you decide what information shared here has value to you or not.
Highlights Of The Week & Important Events
All Hail The King
Bitcoin has once again proven that it is is the king of the market. The 20% Bitcoin move has sent some altcoins down by 50% versus BTC. This is a high danger time for trading altcoins, any move by BTC will crush your stops. I got stopped out of every open trade I had this week. Small losses, but a solid reminder that when Bitcoin roars the villagers run and hide. HOWEVER if you are investing in altcoins for the longer bull market play then this week could provide some good dip buying opportunities.
Some quick tips to protect your capital during a week like this.
1) Don’t chase massive pumps. A lot of altcoins bounced hard from key lines of support, and then dropped again rinsing out stops. This can quickly mess your head up and often leads to the very dangerous “revenge trading” . This is the mentality of gamblers, and is not a recipe for success. Sometimes the best thing to do is to stand up and walk away from your computer.
2) Patience is key to success. This market is absolutely full of opportunity. Sometimes you just need to wait. Fomoing into every market move will most likely eat away very quickly at your account.
3) Protect your capital and respect the trend. One of the most important things in investing and trading is protecting your capital. One of the best ways, besides all of the usual risk management strategies, is to respect the trend. The trend today is for majors like Bitcoin and Ethereum to pump hard. Some defi coins are still pumping, but Bitcoin is basically sucking the air out of the room. Respect that Bitcoin is trending today. Bitcoin likely has a few more buildings to tear down as it rampages through the market, but the trend can and will change quickly. That being said, the market more broadly is in an uptrend, when the market is uptrending we buy dips. Altcoins are dipping today making them the most interesting buy. Think twice before you sell your altcoins at a 50% loss to fomo into a small Bitcoin move. The cycle will come back around and altcoins will pump again as…
