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RE: Bitcoin (BTC) Morning Update: Don't Confuse the Trees for the Forest
You're talking about a much shorter time-frame than I am. I'm not stupid enough to try to beat bots at day-trading! The bot version of me would obviously win, even if I were the best human trader in the world.
However, just because the micro-term is dominated by bots doesn't mean that you can't beat the market by expanding into a wider time frame where lightning fast orders lose their advantage. Algorithms have limitations, and many bots lose money, because of the bigger trends. Who are they losing money to? Well, to those of us playing a longer game than their algorithms are designed to comprehend.
91% of traders lose money when they trade.
If you're saying that you'll just hodl, that is okay with me.
You just need strong nerves in case you bought BTC at below 9k and watched it rise to 19k and now it's down at nine with a further dip straight ahead, more nerve if you bought above - and even if you have the nerve you still also need to afford the time, many months.
Ideally, you should already be rich when you start to trade.
Much better psychological base.
hodl? Too late, I already sold above 14 and bought again at 8 and sold again at 11. That's what I mean by "not short-term." Day trading is too volatile and fast for human hands, but week-trading and month-trading are a little more predictable.
Really though I prefer when the market is up and I can just go with BTC/Altcoin pairs and watch my portfolio grow no matter what trade I make, haha. Dollar/BTC pairs in a down market is stressful, you're right it helps that I already own my house, I can just easily watch my portfolio tank and not even notice an impact on my life.
Seems we're all having the same problem, and getting wiser ;)