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THE RISK /REWARD RATIO IS A CANARD
Just this shorty to address the canard of risk/reward ratio. Tone Vay’s has preached this endlessly . . . and he is spot on. My job is to write down these timeless principles . . . and this one is a prerequisite for your success in business and/or in trading bitcoin.
Whether it is trading or any other business venture, risk can be measured and controlled, reward cannot. Again, let me repeat . . . risk can be measured and controlled, reward cannot.
This principle holds true whether I enter a trade or when I start a new business like uglyoldgoat.com
Just as I have no idea where the price of bitcoin will be tomorrow, next week, next month, next quarter or next year . . . I have no idea where uglyoldgoat.com and bitcoinstandardbearer.com will wind up. . . no clue! Nada!
And I consider it a silly question when someone asks me. You can ask me whether I am long or short or on sidelines and I will tell you.
But typically the questioner begins with “Ugly, I have been following you for quite sometime. I love the articles. Just curious where you think the market is going?”
I then chastise the questioner for not asking the right question, often resulting in hurt feelings. Ugly Old Goats are not known for their etiquette!
