Investor vs Trader - Who Am I?
Ah, the age old question.
My key piece of advice to you, is to decide what you are and stick with it.
NEVER let a bad trade turn into an "investment"!
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Ha ha. And I thought i was the first individual having this question. I agree. I think I am not a trader as I don't have that agility and perspective to anticipate the trading move. I would rather invest and hold and keep a long term strategy. But, trading is sexy, fun and enticing. 😇
What do you mean by that? Are you saying do not hold on to something you did not initially intend to hold?
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"Don't let a bad trade turn into an investment" means that if you've taken a short term position and it's gone deep into the red, then you shouldn't just call it a long term investment to make yourself feel better.
Your number one priority should always be protecting your account and managing risk.
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Got you. That's what I thought but wanted to be clear.
Yeah, you are right. I agree.
I hope I didn't ruin the trading is sexy, fun and enticing vibe haha.
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Actually, you did :(
Now I have to go back to my basics and think about how to approach crypto with an investment angle. Linking crypto with trading was easy as I don't have to think about the long term sustainability, economic development and future adoption of cryptocurrencies.
Short term profits and you are out - that's enticing :)
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