Re:Robinhood Crypto – Invest in Bitcoin and other cryptocurr...
by panarky on Thursday January 25, 2018 @07:01PM
(#16235952)
When I was in college I made every dumb trading mistake there is.
I traded on emotion, bought high, sold low, with margin leverage, and with options.
Fortunately I didn't have much money then, so my losses were a large percentage but a relatively small dollar amount.
In hindsight all those losses were inexpensive lessons that have served me very well now that I'm older and have more at stake.
So let the young and inexperienced trade. If you protect them from themselves, you deny them the ability to learn at a relatively low cost, and they'll wind up learning later at a much higher cost.
I traded on emotion, bought high, sold low, with margin leverage, and with options.
Fortunately I didn't have much money then, so my losses were a large percentage but a relatively small dollar amount.
In hindsight all those losses were inexpensive lessons that have served me very well now that I'm older and have more at stake.
So let the young and inexperienced trade. If you protect them from themselves, you deny them the ability to learn at a relatively low cost, and they'll wind up learning later at a much higher cost.