First off, you can still attack me (although I don't recommend it ;P), but yes not on my new account yet. I'm thinking I might switch over once the beta is over and we go live.
I guess when I say "day trading" i'm probably more referring to "multi day or week trading" lol. But yeah, I really have no idea what I'm doing other than the saying, "Buy high and sell lo..." wait that isn't right, "buy low and sell high".
I'm only playing with a small amount of $ and i'm not expecting huge gains. I just sold some QTUM for about $9 profit I bought the other day - I figure as long as i'm ending on the + side, no matter how small, it's a good thing!
Yeah I was reading your other post where you talked about Binance vs Bittrex so I have thought about switching if the fees are indeed smaller there; I don't want to withdraw just because of the fee, but if I only do it once I guess I can bite that bullet.
I know this isn't any sort of day job thing and I find it fun more than anything; I'm being very conservative so there isn't much I have to worry about losing, at least so far lol
If you have the funds on Bittrex I would just keep it there for now. Otherwise you're paying a lot extra just to withdraw it again and get it on Binance.
But yes, week-trading, let's call it that, can be profitable and a lot of fun to do. The same risks apply though.. It's just very hard to time the markets right, so it is a bit like gambling. Could gain a bit but could lose a lot.
Just look into the coins that you like and find a few that you're sure that no matter what, these are going to go somewhere. Maybe they have big partnerships, maybe it's a great product, maybe it's Bitcoin. It's a good thing to diversify and spread it around.
I started out just like you: with a couple hundred bucks of crypto, wanting to trade it and see if I could get it to grow. But trust me when I say, when you start down this road... it sucks you in and it never lets you go!!
By the time that $400-500 gets to be $2000-3000 you'll be looking differently at things.. I did, anyway! :)
It has now become my main hobby... I cannot put my blockfolio down (great app to install on your phone to keep track of your funds) or tear myself away from the screen
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alright, sounds good to me. The only thing I sort of find frustrating about bittrex is how the "amount" is always relative to bitcoin from a % perspective. For instance, what I would love is to easily see the $ associated with each % as well. For instance, I will bid .000034452 and I would like for it to say that's $8.45; I know it says it on the actual page, but I want to also see it other places, like on my orders page or my transaction history on the SBD page instead of just showing the crazy percent that I have no idea what $ value that equates to. Do you know of a way to fix this? So I exported my orders in csv and put into excel to then put a dollar amount on the percentages, but the annoying this I still don't know the exact $ amount I bought or sold for because the percent changes based on what the current Bitcoin $ amount is (at least I think this is how its working....) I want to see the actual $ amount I bought and sold for at the time of buying or selling.
I'll have to check out that app.
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Nope, the only way to trade in dollar values is to trade it in dollars. Usually this means USDT (which is not USD, but a crypto tethered to USD.. lots of distrust going around it currently). Bittrex lists only a handful of coins in USDT.
The way I do it is that I keep an eye on coinmarketcap.com and write down the dollar amounts when I buy. It's not perfect, but it's something. Unfortunately the Bitcoin price makes everything look like it's going down, but really Bitcoin is just going up a lot.
The fact everything is traded in Bitcoin is also the reason why Bitcoin is valued so much by the way. It is like how dollars are worth a lot because that is what oil is sold in, Bitcoin is worth a lot because that's what you use to buy other crypto. Oftentimes you can also trade in Ethereum, by the way.
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cool, thanks for the info. Yeah I bought one Ethereum, then sold about athird of it to buy smaller stuff for my "weekly trading". I also bought 1 Litecoin which I plan on just holding.
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