BitcoinStu on Nostr: We cannot both be right and we cannot both be wrong since we are on opposite sides of ...
We cannot both be right and we cannot both be wrong since we are on opposite sides of a binary opinion. You think you're going to make money trading in and out of bitcoin and I think you're going to lose it.
The fact that you are trying to trade using spot is a massive red flag that you are completely inexperienced. Professional traders use futures and options to build and manage positions. There are many reasons for this including the tax implications.
Are you from the US? If so then assuming you can actually make money you will be 30% tax on everything because it's short term gains. But if you were trading a regulated futures product you would be a 60/40 split long term / short term gains. This applies to options as well.
I have seen people try to do what you're doing many times before and the story is always the same. You will lose money over time, that is 100% guaranteed. Even the professional traders I know, including myself, took years of study and practice until the point where we were profitable over time. You simply won't get it out of the gate.
You would be MUCH better off spending the time you spend trading and posting about it working another job or working more hours and then buying bitcoin with your earnings.
The path you are taking will result in less bitcoin over time. That is a certainty.
The fact that you are trying to trade using spot is a massive red flag that you are completely inexperienced. Professional traders use futures and options to build and manage positions. There are many reasons for this including the tax implications.
Are you from the US? If so then assuming you can actually make money you will be 30% tax on everything because it's short term gains. But if you were trading a regulated futures product you would be a 60/40 split long term / short term gains. This applies to options as well.
I have seen people try to do what you're doing many times before and the story is always the same. You will lose money over time, that is 100% guaranteed. Even the professional traders I know, including myself, took years of study and practice until the point where we were profitable over time. You simply won't get it out of the gate.
You would be MUCH better off spending the time you spend trading and posting about it working another job or working more hours and then buying bitcoin with your earnings.
The path you are taking will result in less bitcoin over time. That is a certainty.