“Intelligence is the ability to learn from your mistakes. Wisdom is the ability to learn from the mistakes of others.” – Anonymous
After many hours spent staring at a screen yesterday I came to the realization that I could have just held my IOTA investment and made more money. Yet, there I was watching the candle-sticks + buy-sell walls and trying to day trade.
This morning I woke up and realized by day trading I really wasn't even investing. Sure my fiat was "in the market" periodically but it seemed more like I was in a day trading competition with people who actually knew what they were doing.
The simple lesson is that there are only two conditions in which you can lose money investing:
(1) You are simply wrong about your prediction that the asset will be worth more in the future
(2) You sell and thereby lose the margin, pay a fee, buy back higher or all three
Enjoy that shirt day traders. I am simply going to buy the dips from here on out.