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| 1. | | parent_author | "" |
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| parent_permlink | hive-167922 |
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| author | whywhy |
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| permlink | bitcoin-beginner-day-5-check-the-coins-before-you-wreck-your-coins |
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| title | "BitCoin Baby - Day 5 "Check the coins before you wreck your coins"" |
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| body | "
## The promise I made
Alright, as promised on day four.....did I make any money trading Crypto? Yes I did, but this was probably beginners luck.
I started with 0.00428176BTC and right now my balance is showing 0.00559606BTC. That adds up to $38.
My total worth in dollars started at $108 and at the end of day 4 was $162🤑 Meaning I made $16 just from the BTC growth-spurt.
But it also shows that I made more ($22 vs $16) trading, than just sitting around and waiting on what ever my BTC´s will do next.
### Did I screw up?
Absolutely, I screwed up big time.
For one, I invested in XRP because they were dropping fast (just FYI this was 1st of Jan), but I did not check any facts about this coin.
Fact 1 I did not know XRP = Ripple. Ripple at that time was the only other coin I ever heard about next to BTC. So I was kind of happy I bought them by accident.
Fact 2 I did not know Ripple was having some trouble with the US Securities and Exchange Commission (SEC).
Great, so I went and bought stuff I didn´t even know I wanted.....and my stuff was in trouble.
But after thinking about this for a bit I saw this was an opportunity. As I still think the best time to buy is when everybody is selling and as this law suite will take some time. I expected that after the initial drop the market would stabilize.... but as I am a BCB (Bitcoin Beginner) I might be soooo wrong.
Still I bought some low and sold some a lot higher. I kept some (which I bought a bit to expensive) and I decided to buy some more, as I was sure this type of noise will attract attention. Attention = Movement
and hopefully the movement would be my way.
(It took a long time till the movement went my way. Like 30+ days, but when it did......... I screwed up even worse as I had my XRP set at 0.00001198 BTC which was more then double what I paid and I sold them while sleeping. But XRP reached 0.00002213 BTC a day later.)
## Is trading really just buying low & selling high?
Yes, so far it has been selling and buying and following the advise given by my friend to look at the last 24hrs **only**. And buy just above the 24H low and sell just below the 24H high. I tried that and it works.
But of course I can´t believe it´s that easy.
Maybe I am making more out of it than I should, but my Ripple adventure made me curious if looking beyond those 24hrs makes sense as well?
So now I am kinda playing 3D chess, at least that is what it looks like in my underdeveloped crypto mindset.
*Why is that?*
Because I am buying and selling based on the last 24hrs, but also with looking a bit beyond.
Meaning I buy above the low and once bought I sell part below the high and a 2nd part above the high. While also putting in a buy far below the latest low, just in case they drop even further. Or at least that is what I try to do if not all my funds are locked up in buys.
It looks more ore less what my Waves look like.
As per my 3D Chess theory I bought them just above that 0.0002052 24H Low at 0.0002067 well and followed my own advice by selling just below the 24H High while also putting in buy a bid far below the 24H Low.
Now the only thing I need to do once my Waves start going up, is to cancel my initial sell and split it in 2 sells. One below and one above that 0.000222BTC.
I will let you know soon if this will be working for me, or if I am making this crypto universe even more difficult than it already is.
### Yesterday´s News
I fried the fish and left the paper here for you to enjoy.
[Day 4 - To Trade or Not To Trade](https://leofinance.io/@whywhy/bitcoin-beginner-day-4-to-trade-or-not-to-trade)
### Start from Day 1
Or start reading about my crypto experience from day 1
[Day 1 - Welcome to Crypro](https://peakd.com/bitcoin/@whywhy/bitcoin-beginner-day-one-welcome-to-crypto)
Thank you for reading & Thankful for any comments, Tips & Tricks.
Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/hive-167922/@whywhy/bitcoin-beginner-day-5-check-the-coins-before-you-wreck-your-coins)" |
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| json | "{"match_type": "Ranked", "app": "steemmonsters/0.7.86"}" |
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| 23. | | ref_block_num | 1,546 |
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| 1. | | required_auths | |
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| id | ssc-mainnet-hive |
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| json | {"contractName":"market","contractAction":"sell","contractPayload":{"symbol":"SWAP.LTC","quantity":"10.57285719","price":"649.99853932"}} |
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| operations | | 0. | | 0. | custom_json |
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| 1. | | required_auths | |
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| id | ssc-mainnet-hive |
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| json | {"contractName":"market","contractAction":"buy","contractPayload":{"symbol":"SWAP.LTC","quantity":"1.02460521","price":"600.87727709"}} |
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hiveblocks