Well, Hot Damn, I Did My First Trade Today!
I had moved a little bit of my STEEM and SBD over to Poloniex a while back just to see if I could do it.
Crypto is utterly new to me, so I'm dealing with a steep learning curve. I've been doing some reading on my own about different currencies and following @barrydutton's series for us crypto noobs, plus checking out several of our trading gurus' perspective on things. It's a lot to absorb and it took me a couple weeks to work up the nerve to do one trade. What can I say...? I second guess myself on new concepts and need to do baby steps at my own pace.
So I took the plunge and set up a sell order of SBD for Bitcoin. The ask price was optimistic, but not totally unreasonable. That was a few days ago. I've been watching it off and on, not really expecting it to actually sell.
Then, I checked it today... and, this had happened:
Well, hot damn!
The sale went through and I'm now the proud owner of a teeny sliver of Bitcoin! What tickled me even more was when I took a look at the day's graph. See that last peak in the red box?
My sell price was just a hair under that peak.
Now, I know this is a minuscule deal in the whole scope of things, but it's a nice personal confidence boost that some of what I'm trying to learn is soaking in!
Yay! You did it!
I'm yet to try my hands at trading. Maybe when i'm ready you'd have mastered it then you'll put me through 😊
Thanks! That was how I got through it... lots of hand holding. Lol!
A great first start. The great part is you can sit down and write another post that people like - earn some STEEM or SBD and do it again.
There are a few of us (like @barrydutton and @scaredycatguide and @thefinanceguy) writing about investing.
Thank you! That's part of why I like it here so much. Everyone is pitching in to help us greenhorns. @barrydutton has been especially good at bringing folks to a central spot so we can spend more time learning and trading, instead of hit or miss on catching informative posts. And now you've given me a couple more folks to follow. Woot!
This place rocks!
You just have to add the "y" there in the name my friends: @scaredycatguide.
And @aunt-deb
Yes those others are great for sure as is @carrinm. I loved his stuff right away, long ago on here!!!
Fixed - y is added
Well done. What BTC wallet are you using?
Thanks!
None yet. Still deciding. That's why I'm keeping things very small,... in case I lose it. Part of that steep learning curve.
Hey, good for you! Nice to have beginners' luck on your side. :)
Agreed! I'll take it... Lol!
Resteemed!!!!!!!!!!!!!! Maybe it will extend your payout period and a whaley person will UV this and you can cash more out and buy some more coinage!
Wow, thanks hon! I think this is the 'chattiest' post I've had. Cool beans and thanks again for the resteem!
You are most welcome.
I would have missed this, I am glad you took time and sent this to me today!
Good for you!!!!!
I said this on my last series post / reply to you but I appreciate your mention and especially the comments over on my blog and here, letting me know something I did, actually helped a little.
You have been a good friend to me on here!!
Great post!!! Very encouraging.
You follow me and chat with me more than some Deb, so you know all the reasons I do this and put them in the post/comments are very sincere and your info here today, is just why I do them!!!
#FullyEngaged !! lol
Pascal Coin is rallying everyone! LOL, only down 7% now, getting back above water from the -60 crash a day ago hahahahaha~ (:
Oh, I was waiting for you to post this series. I wanted to let folks know that the info you're presenting is valuable. What better way than testing it out AND providing proof?
Besides, if an ancient like me can decipher this stuff, then damn near anybody can do it.
Thanks for putting this series out there and I'm digging the other comments about lending, etc. You rock!!
Next step, trying a buy. Will keep y'all posted...
Keep in mind the column headers on exchanges can be clicked and re ordered.
You can click on them and see which have the most VOLUME, which are the most ACTIVE -- and CHANGE columns etc which have the most GAINS/LOSSES in the % fashion -- the 2nd click etc will reveal the far opposite end of the spectrum for you.
So, green is good / up and red is bad / down LOL.
Ooooh, that will be a help. Thanks for the tip!
Well done. That's exactly how you do it. Don't sell for the current price. Have a look at the highs and lows of the last week or so and sell for slightly over one of the highs. Mostly you will get your sale, as kind as you are prepared to wait. It's usually not too long!
Of course sometimes it backfires and it never goes that high again but hey let's be positive!!
That's the plan... I'm in no hurry and am trying to do my homework before I make a move. Thanks for the pat on the back and support. It truly helps!
No worries. Thats completely the best way, not to hurry!
I saw what you did .... many thanks! That was unexpected!
;0)
You're doing more than most people who have been in Crypto for years! Just don't get addicted to trying to get huge ROI playing the market. I believe in Cryptos is a legitimate commodities market with real value. It's smart to diversify and HoDL for the long haul. We are barely in the Smart Investor phase of Crypto-currencies, and there is lots of room for growth. Congrats!
Good advice! I'm not looking to make a killing, just build a little nest egg and maybe have some fun along the way. My risk taking bar is pretty high, so no crazy (I hope) moves. Just slow and steady. Thanks!
I'm not much of a trader, more of a gambler myself. And if I've learned anything from gambling over the years it's, "don't risk more than you're willing to lose". What that means is basically Bankroll Management. Risk small amounts to Win Big. That is the Goal. If you can't turn 0.001 BTC into 1 BTC trading.... then what makes you think you can turn 1 BTC into 1000 BTC? =)
People are impatient, risk too much and lose it all. Start small, get a solid foundation, and have fun!
Exactly right!
When I was kid, the adults liked to play Rummy for a half a cent a point. Small stakes usually, but occasionally someone would win/lose big (i.e. - a couple dollars instead of sixty cents.) My sis and I were allowed to play later on, when we understood that if you lose... you lose. You actually had to fork over the cash AND you didn't get it back when we were done! You also got to keep what you won, so no complaining. Good lessons, learned early and taken to heart have served me well over the years. It never hurts to be reminded of them. Thanks!
I have come close to doing what you have done, but backed out at the last second. I'm a coward when it comes to playing the market.
That's why it took me so long to jump in. I stuck to a very small amount so I wouldn't freak out if I lost it. I also got lucky. Lol!
Am trying to look at it like haggling. You want my SBD*? Here's what it's gonna cost ya... The other guy is saying the same to me if I want to buy his coin. For what it's worth, that makes it less intimidating to me. I know - I'm weird. Lol!
(*Side note - SBD make me giggle like a third grader. As long as I can remember, that acronym has meant 'silent but deadly' referring to farts. Yes, I need to grow up.)
bahahahaha!! So funny sister.
Haha! My friends and I always referred to silent farts as SBD's too!
Fantastic! Good job on your first successful trade in crypto. I think you made a perfect trade. Just put a sell in and don't think about it too much. And starting out with a small amount is smart. Learning the ropes as they say. Good luck on future trades.
Thank you! It definitely makes me less nervous now to think about the next step. I appreciate the feedback, too. That is a huge help!