A dream job, reserved for the fortunate few who trade Bitcoin from home, set their own hours and perform nothing more bitcoin hack programming than clicking a mouse or watching a screen. The overwhelming majority of new traders lose money and quit within a year.

All those washouts likely thought themselves future members of that exceptional minority of traders who achieve consistent profitability. Why is trading such a difficult endeavour? Due to the intrinsic unpredictability of markets. The human mind, which excels at pattern recognition, struggles with random outcomes. Trading is emotionally-taxing, involving long hours of boredom interspersed with periods of intense stress. Even successful traders frequently succumb to burn-out due to the pressures involved.

Except in the marketing of trading courses, products or services, trading Bitcoin is no glamorous road to easy riches. Rather it is an activity demanding great patience, control and discipline. New traders are likely to lose money as they develop their skills and achieving consistent profitability is never guaranteed, even for the most experienced Bitcoin trader. Trading Bitcoin is similar but distinct from investing in Bitcoin. An investment in Bitcoin is a long-term undertaking, often with multiple goals such as portfolio diversification, fiat risk hedging, business or ideological objectives, etc. Bitcoin investors are generally insensitive to price volatility and unlikely to exit their positions, barring some dire eventuality. Bitcoin traders are also extremely price-sensitive, striving for perfect entry and exit prices and abandoning their positions immediately if they prove unprofitable.