I lost a lot of money last year trying to day trade cryptos.
There is a .25% fee each time you buy or sell on Robinhood as well as I was doing many trades per day so I was losing many percent each day just in fees.
I was also panic selling when the price went down in fear of losing too much as well as that was even more money lost. I’ve l earned from those mistakes as well as now buy as well as hold long term to avoid the fees as well as the stress of having to watch the prices as well as study the click bait news. I could have bought a brand new Heating, Ventilation, as well as A/C system as well as had it installed for the amount of money I lost last year. One bright side is I won’t need to pay any taxes for last year, so in two months when I do our return I won’t need to be writing a check to Uncle Sam. I absolutely could have also got the latest zone control with a nice programmable thermostat as well as a more than four year repair system with the money I lost. I was bored as well as stuck at beach home with the Covid lockdown as well as was just learning about cryptos as well as not trusting that they wouldn’t tank so I kept panic selling as well as losing lots of money. I should have used our energy to wash the HVAC duct as well as filters in our Heating, Ventilation, as well as A/C as well as this would have absolutely saved me money in not having to buy a new component at all. I hope that all of us live as well as all of us learn from all or most of our mistakes!