Welcome to Issue #7 of Wealth Mastery
In this issue:
I have so much to share it is nuts! First a timely reminder to remain calm! I also have another Alpha leak on exchange listings, talk about the CRV launch debacle, give a word of warning on new tokens, highlight some super promising upcoming token launches, and cover some of the biggest news of the week.
Brian Kerr the founder of Kava stops by to talk about the latest happening with this defi star and why the Cosmos ecosystem is primed for lift off.
Heidi has very timely tips for you on how to pay as little in taxes as legally possible from your crypto plays.
Forrest has a great report on the 3 most important defi players built on Elrond.
Jesse has a research report on defi power house Metastable which has been on our watch list for some weeks now, very interesting read.
Rekt Capital shares his thoughts on the state of the market diving into technical analysis on Bitcoin, Ethereum, Stellar, Waves, and Litecoin!
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.
Keep Your Cool
As you have probably noticed the market is down today!!!
Quick, everyone panic, run for the exits, this is the end of everything as Bitcoin plunges to levels not seen since Monday!
I’m not sure how many times I can keep making this joke, but I will milk it while i can 🤣
Ok, but seriously I really want to discuss the mental fatigue that the markets can have on you if you stay too connected. Pullbacks, drawdowns, corrections, dumps, brutal drops or whatever you want to call them are a normal part of the bull market cycle. The markets do not go straight up. If you are a new investor to this asset class then these drops can be worrying.
This is why I am like a broken record in repeating key risk management mantras to help you succeed and be calm.
1- Never invest more than you can afford to lose. If you are all stressed out about your positions and portfolio overall then you have probably put too much in.
2 – When we see these kind of market drops the majors tend to fall a lot less, whereas some altcoins can see dramatic drops. This is why it is important to keep position sizes for more speculative plays smaller. I rarely allocate more than 2% to a low cap play.
3 – Take some profits out!!! I make a habit of taking profits. I actually just took profits again on Trustswap, having now made a 4x return and still maintaining a big moon. If it dropped to zero tomorrow I wouldn’t really care because I got my capital back, added to me Ethereum position, and took some USDC into Blockfi. This has made this position totally worry free for me.
4 – Respect the trend! We are currently in an up trending market until confirmed otherwise, these tiny drops in the market…
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
