Banks be like

You don't have much money?
Here, let me keep taking some of that from you until you get more, k?

Oh, that was more than you had?
Now you owe me even more, nerd.

What, you can't pay that either?
Better ask me for a loan so you can pay off your debt to me. Loser.

What? You still can't pay?
I'm gonna take your everything!

That's sad.. abso-fuckin-lutely

So you are broke, but you have crypto’s? Sounds like someone made a bad choice here.

@JohnDoesNot Yeah. Asshole ex-boss didn't pay me. That's why I'm currently broke.

But as for your inferred point: I'm not touching my investment capital. That's making me money on its own, and at higher returns than credit card interest costs me. Touching it would be a bad choice.

See? He made a bad choice.

Banks charge fees over there?
Bastards!

@C0D4 Not sarcastic? I'm tired. I honestly can't tell.

They charge you fees when you don't have over a certain amount of money in your account.

Some banks also charge for checking accounts.

Also, savings accounts "earn" you 0.01% interest per year, such as at Citibank and Chase, I believe?. Yep, 1% of 1%. Per year. Bloody pointless. Some "high-interest" savings accounts give you 1% per year, and a few super high-interest accounts can give you up to 3% per year. By contrast, I can easily average 1% a day in crypto. After three days I'm at 3.03%.

@Root not sarcastic. (This time)
Ah overdraft fees, yea we have those too. But they generally only kick in after 2-4 weeks (depending on bank) if ou haven’t replaced the $$

@rutee07 We could talk crypto if you're interested 🙂

root-devrant@tuta.io

Thus far I've been profitable on all but one trade, though I'm being much too cautious. I've been learning technical analysis from some salaried analysts at a crypto investment firm for the past six months or so, and some of their calls are just incredible.

@C0D4 These are same-day or next-day. $35 fees iirc, and recurring like $75+ fees after a couple weeks?

Spiral-of-debt by buying some $0.99 gum and not getting overdraft notifications. >.> Had that happen to a friend in high school.

@irene Look at the charts.
Pick buy and sell points.
That should tell you all you need to know.

Edit: tradingview is a good place to start.

@rutee07 Make a throwaway email, silly.

Also: that is great advice. As for real estate... don't do that yourself; it really is a lot of work, and risk too. Instead, let someone else manage properties for you, like with REITs. They're almost zero risk, and provide good (10-15%+) annual ROI for zero work.

@irene You could, if you're good enough with indicators. I am not. Instead, I scalp. It's especially fun when there are screams.

@irene Lemme show you 🗡🙂

It means trading the same asset quickly, such as buying it and re-selling after a few hours, or even after a few minutes.

It's much more work, but it's also much more fun. Typically better profits, too, because you can catch peaks and valleys (pumps and dumps) that most traders simply hold through.

@rutee07 It's the best game in the world 😊

I love being able to sell off my ETH when I see it dropping, and later buy back 8% more with the same money. Larger portfolio for free!

@irene that's what stop losses are for.

Put in a sell order below where you are comfortable with the coin pair dropping. If it goes down instead of up, your sell orders activate and minimize loss. Risk managed.

Can't do that in poker 😋

Reminds me of Louis CK's stand up "Being broke". It goes almost the same as your rant.

I feel like you would enjoy it.

@rutee07 Checking!

@rutee07 Responded.

@Root much bullshit here. There is no "almost riskfree" investment that makes 10-15% per year. Risk is always proportional to returns. 10% is a high return, so it comes with high risk.

@raffaels-blog "much bulllshit here" from someone who hasn't done any research. Your "10% is a high return" is also hilarious. 10% a year is bloody simple.

Seriously, don't talk about things you don't know anything about.

@Root "high return == high risk" is economics 101 🙄

The risk free rate is actually negative at the moment, meaning you have to pay someone for keeping your money at not risk. Far, far away from 10%.

I don't say you aren't making what you're making. But don't believe it to be low risk. Also stop losses don't save you from crashes — they are part of causing them.

@raffaels-blog
Risk management is Investing 101.

Just because you put, lets say, $1000 into a trade doesn't mean you might lose the full principal. That's insane. Investments aren't bets in a casino. Put $1000 into a trade you think will go up, and watch it. Put in a sell order at -3%, for example. That way if the trade goes poorly, you're automatically exited without much loss. If it goes up as you expect, you make a larger return. It takes many small losses to equal a larger return, so even if you lose well over half your trades, you still profit. Is that difficult? Not in the least. But if you don't know how to pick which trades will increase, you shouldn't be investing.

I've made 104% profit (yes, profit) in the past two weeks. Yes, two weeks. Significantly higher than most, but I know what I'm doing. You very apparently do not.

@raffaels-blog

Investing with someone else, such as with the REITs you don't believe exist, can be profitable, too, with even less risk. They accept investments, manage real estate properties entirely by themselves with those investments and ofc their own money, and pay dividends. The various REITS guarantee you an average of ... 12% per year, I believe? Thats q full fifth higher than your arbitrary "10% is a high return" threshold, oh my. There is always a chance a REIT will fold, but it is quite low. They're often multinational, multimillion dollar businesses that have been around for decades or more. Do your research and pick a good investment -- and here is "risk management" again.

Of course it "costs" to let them give you an ROI: they happily take everything after your 12% cut. Just like with anything else you aren't doing yourself. Still sounds pretty win-win to me.

"The risk free rate is actually negative at the moment, meaning you have to pay someone to keep your money not at risk." -- hey look, it's risk again. Of course every investment has risk. It sounds like you're afraid of risk because you don't know how to manage it. It also sounds like you're talking about savings accounts. That isn't investing. That isn't even close.

tl;dr:
You don't have a clue what you're talking about.

@Root to acknowlede risk and to manage it properly is something very different from saying something has almost no risk.

@raffaels-blog Obviously.

But I addressed the almost-no-risk REITs point, too.

Still, something that can drop 50% in a year isn't low risk.

https://nytimes.com/2008/12/...

@raffaels-blog. You can find something bad about everything. There's also risk everywhere.

If you're afraid, don't invest.

@Root I've read Robert Kiyosaki talking about a 35% return in one of his books. Seems pretty high to me.

@cst1992 Depends on the market. I've made 35% returns before. My usual returns are between 3 and 12%, and these are over 1-3 days, not a year.

@foniho Did you get taken over by a bot?