Bagatell
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April 18, 2014, 02:28:56 PM

Well, for a long term investor, it is really better to not check the charts and the forum for a half year, just like I did last year. Because this price movements are really silly Grin

Day traders are dedicated, I give them that much. I track major bubble movements and overall sentiments, but some stuff I read on here is from 24 hour chart watchers who seem to make decisions and start drawing lines with every $5 fluctuation in price. I could never do that. I just hope they are successful enough to make it worth their while, let alone not lose their shirt. Seems like a sad way to spend a majority of one's time, especially with nice weather on the horizon (here in Canada anyways, I am hoping).

Successful day traders provide a vital function. They are the liquidity providers, the decentral bankers of Bitcoin. They reduce volatility by profiting from it. They accomplish this without even intending to, by looking after their own interest.

Key word there is successful though. Like I said if it is enough to make it worth your while, all the best of course. I fear there are less of you than what is actually admitted to as is always the case with "gambling", even educated gambling.

Edit. Back on topic- fluctuation! Resume speculating.

I've just been reading up on spread betting cos of  Ristos thread.

"According to an article in The Times dated 10 April 2009 approximately 30,000 spread bet accounts were opened last year, and that the largest study of gambling in the UK on behalf of the Gambling Commission found that serious problems developed in almost 15% of spread betters compared to 1% of other gambling.[8] In addition a report from Cass Business School found that only 1 in 5 gamblers ends up a winner.[9] As noted in the report, this corresponds to the same ratio of successful gamblers in regular trading.[10] Evidence from spread betting firms themselves actually put this closer to being 1 in 10 traders as being profitable, with a high number of clients suffering from the volatility that is supposed to be one of the benefits of spread betting."

http://en.wikipedia.org/wiki/Spread_betting

HODL!