Steemit Crypto Academy Season 2 Week 3: Trading and Holding - Two Sides of a Coin| By @g0h4mroot.
Greetings teacher, I introduce myself my name is @ g0h4mroot, this is my first assignment, I am new in your class, I started in the last week of season 1, I hope my work is to your liking @alphafx
I use Binance, because it is more intuitive, since I am starting in the world of crypto and trading, I have been doing this for about 2 months and I really like it! is more What I have learned in the Steem Crypto Academy, I entered the cryptoacademy in the second season!
binance is easier to use, because its app is very simple and colorful, and it is so easy to understand and use, of course how difficult it is to know how to trade effectively.
I like to trade, although I do it in a very basic way, I like it! I am excited by the way the value of the currency fluctuates, and the emotion it generates when buying and selling, because it is a bit uncertain when it is starting and I usually despair when I see the price stabilize, I do not know if I will win or lose Currently I have little capital, I have $ 120, and I have $ 5 in trading profits, I would like to do another type of trading more risky and with more money but I still do not have more capital, I have tried to do it in binance with the loan of margin but I have not obtained a better result, since they charge an interest of 0.01% on the loan capital that is equivalent to 200% of our capital, I have traded 3 times in margin mode for 2 hours, and I have had the same As a result, I have earned $ 3 and those $ 3 I have to pay in interest, so I don't know, if it is because I have very little capital or I am doing it wrong, clearly the currency is very volatile and I am learning to control the anxiety it generates, not yet I don't know how to read the charts or predict when the price will change in my favor, but I'm on track to learn that in the next few months!
The holding company consists of buying a Crypto, having it stored and waiting for its price to increase, in my opinion this method is good as long as there is a capital which we do not need and so we can expect a good price increase, said change in Price can occur in hours or months, that is why I do not do it, because the little money I have I must multiply it quickly and efficiently, that is why I still cannot hold high amounts, maybe I could buy crypto in small amounts like about $ 10 in ADA, which I already did, wohoo! or in DOGE COIN, and perhaps in another Crypto that is starting or that has made an ICO.
I was experimented with flexible products and farming, in farming I earned 0.04 TML, and in flexible products I earned an interest in USDT of 0.029, as I said before, the profits are directly proportional to my capital and since it is very little I have not had big income.
I do it this way.
- I go to my application.
I click on TRADE.
- click on spot.
Once the pair is chosen
- In spot we can choose the type of what we want for, example: BNB/BTC.
- we click on the first box, this allows us to choose the price we want to sell.
the second box we place the amount we want to sell or buy as the case may be.
the third table shows us how much we receive for the exchange of one currency to another.
click SELL / BUY AND READY.
- If we sell at the market price, the purchase or sale is automatically charged, depending on the case! But if we choose the price ourselves, then it will be listed below while we wait for the desired price, and after the transaction is effective, it will disappear!
advantages and disadvantages :
you can simply choose a currency and keep it until its price is what you want and then sell.
trading requires knowledge of statistics, and financial mathematics, It is not just buy low and sell high! The advantage of trading is that the profits are practically instantaneous.
the profits in the holding company are slow since we will not know exactly how much its price will change!
volatility in trading plays an important role because that is why we manage to make good profits.
in the holding company volatility is a double-edged sword, since as we are not aware of our investment, we lose a good sales opportunity!
In conclusion, trading generates profits or losses instantly and, we must have constant training to know how to study the Japanese candles and the charts it generates, in order to be prepared for daily obstacles. while the holding company only has to be aware of the rise in the market price to sell!
Thanks for participating
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