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> Any feedback here on this idea? I'm not out to ruin anyone's financial well-being or mental health, the exact opposite in fact. Yes, as a person that's been
by Melting_Harps 5y ago
> Any feedback here on this idea? I'm not out to ruin anyone's financial well-being or mental health, the exact opposite in fact.
Yes, as a person that's been in this since the 2nd Goxxing you can't really compete with the HFT bots back then as a privateer, the days of the willy bot collecting fat margins are all behind us since institutional money and corps with VC backing have entered this space.
With that said, I'd like to see returns which would have to span over 5+ years before I'd even consider using your service, the idea of just 'set it and forget it' in these markets is what created these hype bubbles and subsequent crash during the ICO bubble. Getting uninformed people into this space is not just wrong morally, it stifles progress long-term.
Granted 99% of alts are all pump and dump scams to begin with.
With that said, yeah trading is stressful, but you know what isn't 'holding your coins in cold storage' and it has been beating the traders with greater returns in all but the most recent quarter (assuming you bought at ATH).
You know what is also incredibly more stressful than that? Calculating your tax liability on short term capital gains and entering an incredibly opaque legal structure that even the IRS still hasn't completely clarified.
- jasfi 5y agoThe service isn't meant to compete with HFT bots. There's still room to make a profit, in my opinion. The trading system lets traders specify rules/parameters, there's no one algorithm. I want to implement copy trading, so that less sophisticated traders can simply copy, but also learn in the process. Calculating your tax liability is kind of easy, you just download your statements and send them to your accountant/tax consultant.
- aaaaaaaaata 5y agoYou make it sound like finding an accountant/tax consultant that won't truck-drag your burn-rate is easy!