Famous trader Scott Melker, known for his The Wolf of All Streets account on Twitter, made important statements on the current state of cryptocurrencies and investment tactics on his personal Twitter account.
Don’t be afraid of Stop Loss
In one of his recent tweets, Melker stated that stop losses are seen as a negative situation, but they can be a good opportunity for new entries.
The stop loss is known as the order that allows the position to automatically close when the set price level above the current price is reached in a sell transaction. It is an order type that saves the investor from further loss.
Is Fiat Currency Ponzi?
Making a statement about fiat, namely fiat currencies, Melker said:
“What is fiat money? A fiat system is based on a government order that the currency it prints is legal for transactions. This means that the dollar is backed by the full faith and credit of the government. In other words, the government promises it will be good for it. Ponzi. ”