Following the suggestion by several members that I should start a general chat thread in the Ivory Tower, I thought I would do it. So here is the Jet Cash coffee lounge chat thread. Please use it for general discussion, and avoid bashing other members, extreme political or religious views. Treat it as you would treat a respectable coffee lounge in a respectable part of town.
Nice initiative. Let's hope we can get nice discussions.
At the moment I'm taking a break from watching the charts as I try to teach myself about short term trading. Bitcoin is moving sideways, and I'm only playing with £50 -£100 positions, and I'm not using gearing, so my profits are in pennies. At least I don't seem to be losing money, so I don't think it's a bad start.
Trading is certainly not my style, I am more focused on long term investing.
Recently I read a few pages of a nice book, Fooled by Randomness.
The author mentions some interesting statistics, which I will try to somehow summarize in a few lines :
He mentions that in the last 40 years, SP500 raised about 12% a year. (Average)
If you look at charts once a year, about 90% of the years the sp500 index was green, and 10% in red.
However, the more you look, the worst it is: if you look the charts every quarter , you will have about 70% green and 30% red.
If you look the charts daily, you will see 54% green and 46% red.
Additionally, our generation is now looking the charts every hour or even every minute. This is so crazy. If you do that, probably you will see 50% -50% , even if the long term is green.
This is how you are Fooled by Randomness.
After reading that I got more relaxed about charts..
