Tortoise vs Hare (investor vs day trader)

Learn the differences between being a turtle and a rabbit in crypto trading, and discover a tool for setting automatic alerts to optimize your investments.

November 16, 2023· 2 min read
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Tortoise vs Hare

In crypto trading or investing you want to be a turtle, precise, persistent and methodical. Being a rabbit in trading crypto is like being the day trader, darting back and forth between assets, getting worn down from exchange fees on every trade, and inevitably running out of carrots. Don't be the day trader.

There's actually a third party in the race between the turtle and rabbit; it's the exchange. The exchange can have fake trading activity that can liquidate your positions, and make you think that it's a good time to invest. When in actuality the exchange just created that illusion, and is going to take their fees from the trade with extra buy/sell padding for their profits. The exchange loves day traders because trading volume leads to exchange profits.

In essence, day trading is really just a bunch of people looking at screens trying to take each others money. And the worst part is the centralized exchanges can have manufactured flash crashes, that will just take your money. I don't recommend day trading, but I do recommend buying low and selling high.

Since you should have better, things to do besides looking at charts and tracking crypto prices, you need to set automatic alerts that will do that for you. Luckily, there's an app for that.

Cryptocurrencyalerting.com, have alerts for all kinds of stuff, like network fees and even BTC mempool size. I've included my referral code in the link, so if you click my referral link it's like sending me extra alert credits.

When you buy assets whether stocks, crypto, or whatever; just set an alert for the price when you want to sell. In this way your investments are on autopilot. and you don't miss out on sudden price dips and spikes. Make sure to set your alerts to the exchange price where you are planning on selling at. I set my price alerts to the Coinbase price because that's where I will likely sell.

Cryptocurrencyalerting.com costs about $5/ month for the Trader plan. And the alerts are very quick. I have the Coinbase app on my phone and I actually got an alert from Cryptocurrencyalerting.com about a minute before I got a similar alert from my Coinbase app.

Enjoy

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