You can't beat the market, you can get lucky a few times
I tend to disagree. A lot of people make a living of this. On various markets. Bitcoin market is not much different.
and then the market suddenly catches you off-guard and you lose all your profits and more.
There are ways to minimize loses. They.. happen. Next time you may cover them.
This is true for 98% of traders, you and me are no exceptions. It can be argued whether there is a small percentage of traders who can be and stay profitable in the long run, but I think most of them 'cheat' in one way or another. Like people who have inside knowledge or HFT, or use some kind of manipulation. There is a reason why banks are so often caught cheating in markets. So far I'm still in the positive with the little bit of trading I do myself, but I attribute that more to luck than anything else. And my biggest profits are still from just holding and then slowly taking out some profits as the price continued to climb. That's also luck, but I feel that betting on Bitcoin's long term trend to continue is better than trying to predict the intermediate bear and bull markets.
No. You and me are no traders. What we do is.. like playing in the sand.
And yes, getting as much extra info is .. part of the game, not cheating. That's their homework.
Here they also have options like pump and dump, which is not nice, but yeah...
Why am I still doing it? Well it's a learning experience and it's fun, but I'm not trying to fool myself thinking that I can actually beat the market.
Nicely said!
Learning about crypto and learning about markets is possible already with 10$ investment (especially on altcoins). Which is an opportunity to learn that not many understand.
Holding is an option. Playing and learning is another option. Investing big bucks.. some can, some cannot. Some play with big bucks, some hold. It's matter of personal options.
