How this famous quote relates to trading cryptocurrency and ultimately your wealth!
"Fortunis Fortuna Adiuvat" is a latin proclamation which means "Fortune Favors the Bold". Many people believe that is was Alexander the Great who first made this statement though that is probably not the case. However, for the sake of my post today we will attribute Alexander.
So how does this statement apply to gaining wealth, specifically through trading cryptocurrency? Let me explain. When I first began my foray into the world cryptocurrency, I spent countless hours reading every book, article, and blog post I could find regarding trading in general. I read the The Bitcoin Whitepaper written by the anonymous creator of Bitcoin Satoshi Nakamoto. I read "B-Money" by Wei Dai which had been posted on the internet in 1998, over a decade before Satoshi wrote his/her/their white paper. I read a plethora of papers written by Nick Szabo who according to Wikipedia "is a computer scientist, legal scholar, and cryptographer known for his research in digital contracts and digital currency". He also is attributed to be the creator innovator who first proposed digital "Smart Contracts" which essentially is what has made Ethereum such a successful project.
I also read books by famous investors such as Warren Buffet, (who is accredited to making the statement "be fearful when others are greedy, and greedy when others are fearful"),Peter Lynch, Jack Bogle, and Benjamin Graham. Benjamin Graham is the famous author of "The intelligent Investor" a must read book for any investor regardless if you are a newcomer to the world of investing in commodities/crypto/etc or a seasoned investor....its a must read regardless of it being a bit contradictory tro investing in most crypto coins/tokens/nft's due to the speculative nature of those investments.
The point of all this is that after all my reading and research into topics varying from the stock market, how to properly value company's, how not to be sucked into FOMO(fear of missing out), all the ways and methodologies of analyzing any given market through technical analysis as well as the latest developments I got to a point where I was able to trade with confidence. That's not to say that I haven't lost money or made some seriously bad calls resulting in a loss of capitol but it to say that I am now and have been since extremely confident in my ability to see great trades in the making, as well as being confident in my entry and exit points(I will cover that at a date in the not to distant future) which enables me to trade aggressively....BOLDLY even. What I hope anyone reading this takes away from this post is the following:
1.) BE CONFIDENT IN WHAT YOU KNOW BASED ON EXTENSIVE RESEARCH AND PRACTICE AND WHEN THE TIME IS RIGHT TO MAKE A PROFITABLE TRADE DON'T SECOND GUESS YOURSELF, BE BOLD!!
2.) IF YOU HAVE DONE THE RESEARCH, PUT IN THE TIME, PRACTICED INCESSANTLY, AND ARE THOROUGHLY CONVINCED OF YOUR TRADING ABILITIES THEN TAKE A CUE FROM A YOUNG MAN WHO IN A MERE 32 YEARS CONQUERED THE KNOWN WORLD AT THE TIME, ALEXANDER THE GREAT!
AND REMEMBER: "FORTUNE FAVORS THE BOLD!"
Until next time, cheers!