This show is proudly sponsored by Coinspot.com.au. With the largest range of cryptocurrencies anywhere in the Australian market. With an updated verification process you can now be verified using only your driver’s license or passport within seconds.

You can instantly deposit funds and instantly start buying and selling your favorite cryptocurrencies in under five minutes. Coinspot are giving away $10 worth of free bitcoins for each verified user once they make their first deposit. Just go to Coinspot.com.au/BTC123.

Good day everybody, it’s TraderCobb. Don’t forget to follow me on twitter @TraderCobb C O double B for Bravo. Jump on my Facebook.

Give me a like and also subscribe to the YouTube channel. But more importantly, go to TraderCobb.com and subscribe there to your bi weekly video newsletter. Guys I want to continue on with managing risk and other little rules here.

Another little chunk of free content for you guys to sink your teeth into. Every trade that you are taking has risk. Okay, you may lose on that trade, guess what?

That’s fine. It’s part of trading. The way that I look at trades is like this: over a sea of 100 trades, I will make money if I flawlessly execute my strategy every single goddamn time.

And that’s why I use a checklist and follow my routines to get my headspace correct. Now, that being said, I know I’m going to have some losing trade and I don’t know when they will come. Often, the best trades, technical-wise, once they set up and they look absolutely beautiful on the chart.

Sometimes they’ll end up being a loss. That’s why we need to risk manage every single trade in a uniform way. So we don’t have a negative financial profit loss outcome if we’ve got a positive win loss ratio.

There’s a couple more things we’re going to look at here. So when we’re talking about risk, we must understand we’re trying to convert risk. So risk is being laid out inherently for one purpose.

And that’s to convert to reward. We want to make money, right? We’re going to risk money to make money.

It’s the age-old thing, the entrepreneurial to and fro risk money to make money. So understanding risk is extremely important. So with that being said, what do we need to know?

You need to accept that risk is a part of this business. Not just this business, but any business and when you’re trading it is no different at all. Risk is a part of doing business.

So you can avoid it. And if you want to completely avoid risk, go and get a j o b and don’t do anything else and you’re fine. You’ll avoid financial risk in that sense.

But you’re here with me, you’re learning a trade you are in cryptocurrency or approaching cryptocurrency and thinking of getting involved. So you got to understand that to avoid it is not going to work. If you’re not going to have so if you want to avoid risk, don’t get involved.

We want to reduce risk after we’ve accepted that risk is part of the business. Well, what can we do, we can maximize or minimize it. So we want to manage that risk.

We want to manage every single trade so that we don’t blow out our candle. Get that dreaded Margin Call. And then, we want to transfer that risk into a reward or into profit.

So it’s not too hard to get a grasp of. But, it’s really important that we don’t just say the word risk. People often just pay risk lip service.

Once again, I am here providing you with the education, providing you with my years of experience to give you an underlying understanding of what the word risk actually means to us as traders. You’ve got to accept it, you’ve got to reduce it, you gotta transfer it. And little breakdowns of little things may seem small risk is huge little breakdown, so you understand it is a big part in understanding and then using these little lessons for your trading going forward.

So don’t forget guys. I do a lot of this for free. A huge amount of my content goes out for absolutely nothing.

All I ask of you so I can continue to do this is for my following to grow. So please share me across your your socials if you can get your friends and family on to TraderCobb.com and share the love.

Let’s create an amazing community here guys. I want people that are in the space, getting correct proper information so they’re not being led astray by a number of the absolutely dodgy providers out there. Let’s keep this going together keep this freight train moving forward.

Guys, thanks very much for your time. Bye for now. This show is proudly sponsored by Coinspot.com.au.

With the largest range of cryptocurrencies anywhere in the Australian market. With an updated verification process, you can now be verified using only your driver’s license or passport within seconds. You can instantly deposit funds and instantly start buying and selling your favorite cryptocurrencies in under five minutes.

Coinspot are getting like $10 worth of free bitcoins for each verified user once they make their first deposit. Just go to Coinspot.com.au/BTC123. Views of the advertiser, not TraderCobb or the audio presenter.