Hello followers! I have been trading for about a week on HitBTC, so I thought I would do a quick summary post on where I'm at.
To recap, my overall goal is to go from absolute $0, not put a single penny into crypto, and grind away trying to raise my balance. In order to start out, I used MinerGate to mine just enough DASHCoin to begin trading with (which would be 1 DASHCoin lol).
My trading strategy is pretty basic at the moment. The jist of it is that I will never take a loss on a trade. I hope to not have any open orders overnight, but if I need to, I'll hold for hours/days/weeks until the price goes up to a profit. That said, I'm not shooting for large gains on every trade. I'm trying to scalp just a bit of profit on all my trades, for example 0.00000005 to 0.00000030 BTC in price.
To give myself a baseline, I sold my 1 DASHCoin for 0.00000520 BTC. Next, I bought and sold DSH a couple more times to get some practice in.
I bought 1 DSH for 0.00000490 BTC, then sold it for 0.00000510 (a 1% gain).
Next, I bought 1 DSH again, but for 0.00000480 and sold it back for 0.00000500 (Another 1% gain).
After getting that practice in, I started to look around a bit for other currencies I can trade with. With such a small balance, at times I don't have enough for a minimum order :( But, I was able to find STEEM!! I had a couple of good trades on there :) I'm not able to trade a full STEEM, but I do have enough to buy the minimum, which is 0.001.
So, my next trade cost me 0.00000474, which I sold for 0.00000504 (still a 1% gain).
After that, my next trade cost me 0.00000448, which I sold for 0.00000520 (a 1% gain).
I did get back into STEEM a final time when the price was at 0.00097000BTC (which cost me 0.00000582). The price dropped down, and has stayed down :( But, I will hold until it pops back up! I have an open sell order priced at 0.00120000.
One thing to note is that with such a small balance, the fee is basically .00000001. As my account grows, I'll be keeping a closer eye on this :)
Well, that's it for this week. I know it doesn't seem like a lot, but I'm inching my balance up little by little. Once it grows, I'm hoping it will gain more and more momentum like a snowball. There was probably a bit more detail in there than people would be interested in, so I might shorten it in the future. Let me know what you guys think!
I had forgotten about adding the following:
If you like this review, please let me know with an upvote, comment, or follow!!
If you want to support me in my journey, I'll throw some wallet addresses for you guys to use! I really appreciate any amount!!
bitcoin: 1E6oet5bdoJzfv7hnjcXuKaJVwUvEdyx7W
litecoin: LbKJzGYfRqqAsMF8Gns8yd7xYcZw8qvHJa
Eth: 0xacbd5150a66ba90f20d0a5386f08b72ba51aa070
Binance: 0xacbd5150a66ba90f20d0a5386f08b72ba51aa070
Cardano: DdzFFzCqrhsz97vWpzS9GJBKrZmjBGR4YLb4XYDvpqD2hfN8kpxNjzZYKBJdXqURJ6AJZktJN8JX2t4xiAPDHqMj7DxP11M8BmRDyL1b
Here is some legal stuffs:
I am not a licensed financial adviser in any way, shape, or form. All material is based on only my opinion. Any and all investments have risk. I am fully prepared to lose any investment at any time. Please do your due diligence in researching everything that I have mentioned.
im about to be practicing with small trades myself. I have a hard time not spending whatever BTC i do buy though. So many promising alt coins i want to buy.
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