Bitcoin and cryptocurrency experienced a massacre over the weekend, with Bitcoin dropping over 50% from their all-time high of $64,000. The world of crypto is scary these days. Unregulated exchanges give novice traders virtually insane leverages such as 1:500. These exchanges thrive on expensive commissions and encourage inexperienced traders to over trade. Part of the sell off over the weekend can be attributed to these highly leveraged traders who do not know how to manage risk and face forced margin calls and liquidation. A 16-year-old crypto enthusiast with a $2,000 account can trade as high as a $1m position in crypto.
I found a tweet from a new crypto trader who, when selling their Dogecoin, was not sure why it was selling for lower than what they paid. Can you help them?
Monday Technology and Onboarding
I want to extend a sincere welcome to all new members who have recently joined our community. Every Monday at 8pm ET in the classroom, you can join Carlos and Mike as they walk you through the community. Elite members can join Kyle at 9pm ET in the Webinar room for our advanced technology class.
Tuesday Strategy and TradeBook
This week, our very own Thor is giving one of the most important presentations of the year:
“How to Day Trade through Choppy Price Action Using VPA and Ranges”
In this webinar, Thor will discuss how values and ranges end up being established over a period of time. Using VPA (Volume Price Analysis), you can determine the strongest support and resistance areas and play the longer ranges. This allows you to avoid choppy price action by getting into a position at the extremes of the ranges. Thor tweeted the outline of the webinar, and let me tell you, once again, we are all in for a treat! Each webinar is around 1 hour in length, but it takes the presenters hours, if not days, to prepare the material for you. I hope I will see all Elite members on Tuesday night in the Webinar room.
For our Wednesday Psychology session this week, our mindfulness coach Neda will present a talk titled: Let the Storm of Emotions Pass Without Drowning You. In this webinar, Neda will discuss bringing mindfulness to our emotional experiences. As soon as we recognize we are becoming overwhelmed by our emotions, we have the choice to create a space to experience them without judgment, resentment, or attachment. While waiting for the storm to pass we can then bring a quality of nourishing self-compassion to our present moment. Neda’s presentation begins at 8pm ET in the Webinar room.
As you are no doubt aware, Bear Bull Traders is now holding two different mentorship sessions each Thursday:
- Morning mentorship at 11am ET with Andrew
- Evening mentorship at 8pm ET with Thor
Please join Thor and I each Thursday as we walk you through a recap of our trades of the week and our thought processes. We’ll also deep dive into topics of your choice.
I hope that the volatility in the market continues this coming week and that you stay green!
As always, I can be reached at [email protected]
To your success,
PS: In order to benefit from the majority of our weekly webinars and classes, please consider upgrading to an Elite annual membership at a 40% discounted price of $1199. This works out to basically $99 per month (billed in a 1-year block). If you have not already, I hope you’ll soon become part of our #BBTFamily. Use discount code MEMORIAL40, or simply click here.