when the price drops, i get depressed. why shouldn't i be?

[Soros Shorts]

2. Read classical book by Jesse Livermore "Reminiscences of a stock operator";

Certainly a very good book but I thought it had pretty depressing ending. Not something I would read if I were already depressed.

Also the author is Edwin Lefevre and not Jesse Livermore.

[Luno]

Good read, absolutely nothing has changed. These days the debating HF-trading as an evil, in 1906 The ticker had lag compared to the floor traders! You could trade in whatever name you liked in the bucket shops and cashout in cash though you most certainly had been stripped before going to the teller boy!  It's also a good read concerning getting tips from others and your own hunches. Could not stop the feeling that I was reading old forum posts from a hundred years ago. Talk about Bitcoin being covert! Bitcoin is several times more transparent than stocks way back then!

[meebs]

no really, i'd like you guys to tell me why the fiat conversion indicator is not important :-)

Because just like the stock market, some people are more psychologically 'resistant' to short term swings in price. Until one can train their mind to be more long term thinking, it is easy to look at the price hour by hour, day after day and worrya bout what will happen next.

That said, one needs to keep informed so that if 'it hits the fan' then they can get out before it gets too ugly (like when a company or the currency might start to fail and loses long term viability, but even then it is a gamble, if you buy when its cheap, you can lose all, or gain a lot if it recovers).