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RE: The Irrational Trader
You make it sound so easy!
Hahah. I think the problem for me is when both sides start fighting over a coin.
Trader: "Nice! Look at that sweet profit. Sell that thing and let's move on to the next pump."
Investor: "Are you kidding me? Would you have sold bitcoin at $1? What kind of idiot are you? This is clearly a long-term hold."
Trader: "Stop bringing emotion into a logical discussion. Don't get married to a coin. Buy, sell, move on."
Investor: "Why celebrate a small gain when you could have a life-changing increase with just a little insight, patience, and long-term vision?"
Trader: "I can't even talk to you."
Investor: "You're just an idiot."
(bar fight ensues as the market passes them both by, laughing)
@lukestokes :-)
Well, at the cost of repeating, I was trying to sound “Simple” not “Easy” ! They both have no relationship...
The key is not to let left (investor) and right (trader) talk to each other. This is the financial meditation :-)
One simple way (to start) is to keep the two (trading and investment) instruments different. For example I invest in stocks and trade in bitcoin. [Fact: I invest in bitcoin also, but just as an example]. So you cut out the news for bitcoin and cut out market info for stocks. Don’t try to find cause-effect relationships in bitcoin (news) and don’t try to change cause-effect relationship for stocks with market movement [unless cause change don’t let the effect change]
They both are Simple in the end. Its [Chaos] Trading and [Value] Investing :-)
I don't know where from you got this. But this is hilarious.