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RE: Calm Down! A Few Thoughts about Investing and the Ups and Downs of the Cryptocurrency Markets

in #cryptocurrency7 years ago

But I would also submit that you are a pretty seasoned investor-trader and know quite a lot about cryptos based on having been involved for a long time. In other words, you have wisdom and experience which you are putting to work... that's very different from tossing darts.

I do believe a lot of these wild swings are increased by newcomer investors who have just bought into the whole idea that "cryptos are a hot ticket" so they take their money and act on every FOMO rumor they see... and bail every time something goes down 20%.

As I mentioned above, I used to be day trader in tech stocks... and I just followed a handful, but knew them really well, which certainly allowed me to make some short term gains that most people didn't "understand."

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It is my theory that unless you (as opposed to someone else or "society") pay for your mistakes, you do not learn from them and will most likely repeat them. I have learned from my mistakes :-)

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