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RE: #1 Lesson I Learned Investing in Cryptocurrencies like Steem, Bitcoin, Ethereum, and Dash.

in #steemit7 years ago

@rymlen there are all different types with I would guess that most think they are smarter than average but if you look at the data usually coming out behind. Then there are probably the top 1/1000 that have systems in place which consistently take money from those of us that start of and continue thinking we are smarter than others as I did until we get hit in the face with undeniable data showing we are not! In realizing I am not smarter than the others trading now, I try to stick with strategies that capitalize on my strengths (online reputation) while avoiding my weaknesses (impatience, limited time and market knowledge).

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It's so hard to learn these lessons until you've lost a lot of your own money. I've lost my fair share trading online in the 2000s in the futures markets (in fact, markets now confirmed in ongoing legal struggles to have been manipulated illegally by custodial banks), and thankfully I've been able to get a reminder of those lessons vicariously through the honesty in your videos. There's always someone with a bigger edge than you can get, so you can never truly maximize your gain. An eight-bagger is phenomenal. You shouldn't regret selling your Dash a bit early, because getting the maximum amount will only happen with dumb luck. You simply can't achieve that level of certainty over markets without potentially illegal information.