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RE: I did a day trade today since the first time in a long time and why I stopped doing them :)

in #life7 years ago

I enjoy trading and also long term investing. They are two completely different mindsets and trading you really need to learn profits are good and ignore the thought of missed opportunity.

Yesterday I traded some and probably shouldn't have bought back in at the end of the day, but in my mind it's called day trading for a reason. You close out at the end of a day when the future is unclear.

Investing is stressful for most people and if you feel stress about investing do not even think of Day Trading...it's a real roller coaster. You need to be able to cut losses and be happy even when you left some money on the table.

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For me, it's hard to be both. I can say almost impossible. They are two different beasts.

I understand that feeling. Used to have the same issue, but over time you start to see the value in both. Half my crypto is long term , the other half is to trade. So far the trading account has to top off the hold accounts on a regular basis as I rebalance so both grow. Never once have I pulled from savings to top off the trading accounts.

This approach works for me, but can completely understand why it wouldn't for most.