Hooray!!! Coins for sale!
(in USD that is...)
Damn blood in the streets tonight. Shit, sorry I even looked.
I know. It's damn painful. I wish I was good at trading. Fortunes to be made here. But I can only sit and watch my little pile shrink away.
I mean, idk if it's that people are "good at trading". I think the big secret is that trading isn't hard. Like as far as in an intelligence test sort of way. Someone with an IQ of 90 can probably identify a trend and see when people are getting overly greedy at the top and when people are being overly dramatic at the bottom. And that's all you really have to be able to do from a technical standpoint.
You don't need to be able to nail the bottom or the top. Say you bought your bitcoin at 1000 and sold at 10,000. It doesn't matter that it later went to 20,000. The fact that you didn't hold out for 20,000 is no condemnation. You made 10 times your money. That's really damn good! Then say you buy back in at 5000 and it goes to 2,000. It doesn't matter that it later went to 2,000. You just doubled your bitcoins! That's really damn good. And how hard would have been to hit those targets in that scenario? Would that fellow have been a genius? I think not. A genius would have threaded the needed on the top and bottom or something. Look at how much room our guy had to find success with out being the sort of genius necessary to hit the tops and bottoms perfectly.
I think it's just our emotions that screw us over. How ridiculous is it to judge ourselves based on the fact that if we were omniscient beings we could have made more money than we did. But that's what almost everyone does! At some level our strategies tend to be informed by that mindset. I'm not the first one to point this out, but perfect is the enemy of good. I think all anyone with an IQ above 90 has to to do to be successful is learn how to "turn off" their emotions. Like all of them. Go full psychopath when you log onto an exchange. If you feel like you are feeling any feelings at all, stop, logoff, and figure out how to get them under control before you log back on. And when you make money, any amount of money, feel good about yourself, you deserve it. Don't hold yourself to some sort of self destructive standard and expectation. I think that when you let go of that mindset you may find the sort of success that you were actually looking for when you had that mindset, or at least much closer to it than you would have had with it.
Well anyway. ./rantoff
