The real reason is probably that my gambling itch is being satisfied by trading crypto-currencies. But I have some other reasons as well:
- Cramer says not to invest in the market if you have credit card debt. He points out that you will always be playing from a position of weakness.
- He also recommends having $10,000 to play with. That means money that you can afford to lose, so you can diversify.
- The market uses US dollars. I'm convinced that the dollar will collapse any day, now.
- There is massive market manipulation going on. I saw that when I was trading Fannie Mae. The price would move a day or two before the announcement of the news that moved it. I also saw the 9/11 terrorist attack be preceded by the market moves in airline options.
- Gold is even manipulated. It's obvious but nothing is ever done about it.
- I need my money to get ready for the financial collapse. I've only made money a few times with the market and it's just too important to use my money preparing for the collapse than to risk it again. Crypto-currencies are bad enough, but I have more faith in precious metals and crypto-currencies than the market.
- I need to protect myself from government seizures. They took people gold in the thirties and at Cyprus they took money out of bank accounts, recently.
That reminds me, I checked EBay for gold prices today. The spot price for gold is a little above $1200. But on EBay 1/10 ounce gold coins are going for around $200 instead of the $150 They were going for a few weeks ago. I think the people who buy on EBay have a better feel for the real prices of metals than the market manipulaters on Wall Street and London. In fact, at London what they do twice a day is to set the world price of gold. They call it the "Fix". What an appropriate word for what they do to gold they fix it twice a day.
Oh well, I'm just going to keep playing crypto-currencies with my bot and try to get ready for a world wide financial collapse.