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RE: How my investment practices demonstrates my value
I've mostly been day trading, and trying to build a core for longer term holds/speculations.
But I can definitely see a problem with long term holds.....when something I have goes up, even before it reaches my target I'm hard pressed not to sell for the profit it's at (instead of the profit it could be or the instant loss of/decrease in profit it could be the next minute).
Not sure how I'll play that in the future....
I bought 6 etherium at $15 and sold at $34 (to put into something else, it was a total win), but if I hadn't sold, I can't imagine I wouldn't have sold by $50, I never would have thought it would go to $400 so wouldn't see it worth the risk of holding and losing that profit.....
The difference is, once you have enough fiat to live relatively in comfort for what reason is there to sell a long term hold or chase a fiat profit from day trading? Why did you buy ETH only to sell it? Because you viewed the $ value as being of higher utility than the token? Will you still view it like that if your living expenses are paid? Do the dollar amounts matter for people who don't need it?
Imagine these are penny stocks, and the short term profits offer diminishing return in utility, at that point it becomes about what you can do with tokens which you can't do with your fiat. We need to cash out crypto to pay taxes, rent, buy food, healthcare etc. But someday when you earn mostly crypto, or if you get enough passive income from crypto, then you don't have to day trade to live. Would you still day trade if you didn't need the money?
When I have enough fiat from trading to live comfortably then yes, I can absolutely see how I'd have more 'freedom' to hold long term to see what happens.
This is the value of being financially liberated. When you no longer have to chase profit you can focus on what really matters in life.
Everything that matters in family life and health is then followed by money
good work @dana-edwards
resteem