Most deaths in the United States are from diseases of abundance – from the consequences of an easy, sedentary life with immediate access to your any and every craving. Yet, if you only ever see the world as generated by the pixels on your screens, you get an inverted world full of shootings and is constantly on the verge of collapse. Across the globe, deaths at the hands of communicable diseases, by accidents, and by violence are going down. You are more likely to die of a lifetime of personally mistreating your own body and mind than anything else
Humans are just terrible with risk assessment. Here’s an example. 1.3 million people die each year from traffic accidents, but imagine that we completely transitioned to autonomous vehicles. Because no technology is perfect, 300,000 people will still die each year in the transition due to computer error. Despite traffic deaths going down by 1 million, the New York Times will publish an article saying that "since self-driving cars have become the norm, we’ve seen an explosion of 300,000 deaths related to computer error. This is a tragedy.”
That being said, if you are the one behind the wheel of your crypto trading, you are going to make the same proportion of human error in your decisions. You’ll be driven by emotion, the speculation of anonymous morons, etc. Just like driving though, you will get away with making dumb errors most of the time. This doesn’t mean you’re not dicking around like an idiot. You just don’t see how poorly you’re managing your portfolio until you suffer some terrible errors.
My first experience with crypto was when I got my first payment for some work I did in the form of Ethereum. This was in September last year just before that huge selloff. I got pulled in and invested more, trading my way back up with the rebound. Along the way, I was reading and studying investing strategies from traditional stock market trading sources. Eventually, I found that the best strategy that is available to crypto trading is to get rid of your own human error altogether and use automated and algorithmic trading software.
They are worth the investment, because I guarantee you that on your own you are already pissing away the cost of that software with your own stupid human-brained decision making. The barrier to entry for crypto trading is so low compared to traditional stock trading. No minimum balances, no experience necessary. Just swing away, kids!
Postscript: you will also save yourself so much more time knowing you can just ignore all the chatter and speculation of those anonymous morons online. You can spend this time reading, writing, and exercising more. And all around living a lifetime of treating your body and mind well. But if that doesn’t suit you because you want to be personally in charge of your trading, and experiencing the thrills of triumph and tragedy, I totally get that. I understand that thrill of gambling.
This is very much correct. Though the problem is to find the relevant good software, because a lot of it is just scam.