So last night I experienced my first major blunder in trading by managing to essentially throw around 150 AUD into the abyss. This is the story of how.
So I wanted to send some steem from another wallet to my account here. Seems simple enough, checked a few guides. "Alright I can do this".
Now the first obstacle was I couldn't figure out the address for my wallet here. All the guides said to use my registered account name. But coinspot didn't have an option to enter that. So I put my handle in address. Put my memo in and figured I'd use a small amount as a test. It didn't work and is stuck now.
Okay no biggie. Was only a couple of steem.
Next step was to contact my friend @cryptokrieg for advice. He recommended trading it for btc and sending it to bittrex and then back to steem and sending that here.
Simple enough right.
So, we sell it for btc, send it to bittrex. It arrives no problems and it should be easy from here.
See the thing is, I'm very new to this. And I didn't understand how the market worked on bittrex. So instead of selling my .02 btc for a bunch of steem, I sold it all for .99 steem.
"How the fuck do you even do that?" You ask.
Well it's quite simple really. On bittrex there's an option for price. And next to it is a maximum button. I for some reason, believed it meant set the amount to buy as many steem as possible with all my money.
Not buy as much steem as possible AT the price of my balance.
It was too late before I realised what I'd done and the money was gone.
And that's the story of why I'm a moron and need to double, double check everything I do.
Sucks so much man lol, if only i wasn't banned on my other facebook account this could of been avoided :(
that sucks man, i upvoted you to help you out! but don't lose your confidence, everyone makes mistakes, just keep trading and you are bound to turn a profit as long as you buy when the market crashes!
Thanks man. Im going to keep trying for sure. Learned a valuable lesson about double checking everything before hitting confirm
Bummer! I'm sorry 😐