RE: Crypto & Cardio #6: Layups over Alley Oops
When I was day trading I was thinking about the money I 'earned that day or week'...
When I was day trading I was thinking about the money I earned that day as wel, at the same time it was really stressful, emotionally exhausting and of course involved sleepless nights. Sometimes we have to learn the hard way. Just like you, I’m a long therm investor and plan to withdraw my investments not before I retire. 😃 Remember, If you do the daytrading or short therm trading, in US you must fill tax returns each and every single year, otherwise they will send you a crazy bill for anything you sold (they don’t include what you bought). You have to deal with the paperwork then to proof how much you actually bought and how much you sold. It’s another headache added to this kind of trading.
The best way to invest is to invest long therm.
Great advice to anyone new in crypto though!
Yep - I see short term trading is more of an addiction than a profitable exercise.
As for taxes, we could really do with some more clarity in the UK. I'm not looking forward to trying to make sense of it all!!
I've found investing in cryptos over the long term easier, less stressful and more profitable.
Less stressful lol 😆