Amid the hectic trading action in the financial and cryptocurrency markets, veteran trader Peter Brandt has emerged with a nugget of wisdom for those looking to navigate the current volatility.
Amid the hectic trading action in the financial and cryptocurrency markets, veteran trader Peter Brandt has emerged with a nugget of wisdom for those looking to navigate the current volatility.
Brandt, known for his deep knowledge and decades of experience in trading, states a fundamental fact: making money in trading is relatively easy; The real challenge lies in maintaining it.
Brandt’s vision comes from years of experience in various financial markets, including the cryptocurrency market. He stressed that the key to long-term success in trading is not simply making profits but preserving those profits. According BrandtThe realization of this principle marked an important point of maturity in his business career.
The veteran trader noted that frequent drawdowns (periods when various assets experience significant drops in value) forced him to make the same profits repeatedly. This repetitive cycle of profits and losses underscored the importance of capital preservation. For many traders, especially those new to the cryptocurrency market, these drawdowns can be discouraging and create a feeling of chasing losses.
Tomiwabold OlajideHowever, the ability to manage these periods without allowing them to erase your hard-earned profits is what separates successful traders from the rest. Brandt’s advice serves as a reminder that trading is not just about the thrill of making profits but also about the discipline needed to protect them.
Brandt clarifies that after a profitable period, the priority should shift from aggressive trading to safeguarding accumulated capital. This strategy is not about avoiding risk, but about managing it with greater caution.
Bitcoin briefly rose above $70,000 in the trading session on Wednesday after the Federal Reserve left interest rates unchanged and signaled that only one cut is expected before the end of the year.
The Federal Reserve on Wednesday held rates steady at 5.25%-5.50% and said it would cut them just once, later this year, down from three rate cuts projected in March.
At the time of writing, Bitcoin was almost erasing its gains and was barely up 1.75% in the last 24 hours to $67,928.
