Recently I was in the psych ward for 14 days and had no Internet access during that time. During that time my stock portfolio went from outperforming the S&P 500 to significantly underperforming. This just illustrates the efficacy of day trading, as opposed to just putting money in stocks and letting it sit. The latter strategy relies too much on trying to predict which stocks are going to perform well and investing in those stocks (which, you know, anyone who knows the first thing about investing knows that predicting market trends is literally impossible), while the former strategy allows you to tweak and fine-tune all the variables after-the-fact. Hell, if stock picks by so-called "experts" can be consistently beaten by stock picks based on the toss of a coin, I'd say day trading is the only way to get any real gains without making reckless bets.
@verita84
I use Fidelity Investments. I only get charged a penny for each trade, if that. Even if my capital gains from a trade are only 50 cents, the fee is still a tiny fraction of that.
@verita84
I've never traded crypto so I wouldn't know.
@verita84
I've never used Robinhood. As a general rule, I stay away from things that have a lot of hype attached to them (Game Stop, Big Tech stocks, Bitcoin, ETFs, etc.) Hype basically guarantees that something is overvalued or that the market is oversaturated. My rule is to look at what all the normies are doing and do the exact opposite.
@verita84
A good example of something that's not oversaturated is Mastodon and other Web 3.0 platforms. Virtually no one knows that Mastodon exists or knows what Web 3.0 is, yet there's massive potential for it to be the next big thing in social media, which means these platforms are still untapped. I realized early on that if I can gain a foothold in these platforms while they're still young, then when the platform eventually gets discovered by the normies and blows up, my brand will blow up with it. You need to be able to see potential in something where other people don't. Taking the beaten path can only lead to mediocrity.
True. I wish fedi would grow more. Does not look like it will anytime soon and it's hard to get normies here
@verita84
That may start to change very soon, since I hear Elon Musk is taking an interest in Web 3.0.
@verita84
But it'll still get a ton of free publicity. 😜
@verita84
I never heard about that. I've only been here for a little over 24 hours, so I'm unfamiliar with the lore of this platform.
Oh, basically all the mastodon instances, mostly liberal, blocked federation with any pleroma instance and anyone who speaks out against trannies, gays, or is alt right
@verita84
That's actually a good thing, because the main thing that prevents pure "free speech" platforms like Minds and Bitchute from taking off is that everyone views them as hotbeds for right wing extremism. I like the fact that Mastodon is anti-censorship, yet still doesn't tolerate hate speech. If anything, that will remove the biggest potential barrier to its growth.
That makes no sense. You can't be anti-censorship and anti hate speech. Who gets to define hate speech? It's a meaningless term.
Yes. Right wing users are the only ones against the narrative and are seeking refuge and peace from leftist censorship. We are even being deplatformed on decentralized infrastructure,wtf
@verita84
Sometimes you have to make compromises. I've been on Minds, and the problem with that platform is that because of its reputation, the only people interested in joining are Alt-Right Nazis, InfoWars fans, QAnon, etc. That's not a balanced user base by any means, and it's stunting the growth of those platforms. I gave up on Minds because I decided it had basically no growth potential, because it was only appealing to a very limited demographic.
@verita84
I'm not going to argue with that. I will say, however, that not everything can be a win-win situation. The problem with idealists is that they fail to see the nuances and the areas where their ideology breaks down. Sometimes you have to view things realistically, and act accordingly.
@verita84
Sorry, when I said "ETFs" I meant "NFTs".