18 Dec 2023 5:13 pm
Hopefully Vegas is also doing the same longer term investing along with his inside scoop to the "whales" of crypto.Skans » 18 Dec 2023, 5:49 pm » wrote: ↑ Day trading works until it doesn't. Then, you get stuck. I've been there. I admit, I was not good at day trading. I even did well with it for some time. But, then something completely unexpected hits, and you're sunk. I don't mean you lost everything, just that you find yourself in the red.
On the other hand, every time I've bought good solid companies or funds and hold onto them for a long time, I do very well.
@Fuelman - do you remember "program traders". These were people who thought they devised some ultimate algorithmic model that automatically traded a stock within a specified set of criteria. And, it worked quite well! Again, until it didn't. Then it was "OH F-".
The near future is not predictable. But, the world needs certain things like power, transportation, communication equipment and services, places to house people, drugs, and financial liquidity among others. There are exceptionally well run, disciplined companies within each of these industries that have proven track records. You buy THOSE COMPANIES and don't sell them, unless something fundamentally changes. Some Companies that fundamentally changed, or things changed and they failed to change with it:
- Disney
- Word Perfect (Corel)
- Ericsson