Trading Bitcoin and Bitcoin Cash
I recently started to focus a bit more on to become a day trader on various crypto exchanges. Like everything where there is money involved (Sorry Tokens) involved it is quite stressful yet very exciting.
Please note that I cannot and will never give financial advice as I am a novice at trading. As I mentioned above, I only recently started focussing a bit more on this. I did take a dabble into this environment, but I just became too busy with other things and my focus shifted.
A few of my friends are however traders and I am trying to learn as much as I can from them. A good friend @robertm, are a very successful business man, and have a great understanding of economies. Please follow him. He has mentioned many times that there is no real difference than the real world economies and the crypto world. Nothing is new in this environment.
BTC vs BCH or Bitcoin Cash.
Due to the fact that Bitcoin is at an all-time high, most of the altcoins including Steem are taking a real beating. I guess it will correct later when Bitcoin stabilises. I did however notice this morning that Bitcoin Cash is o a bit of a run. My timing was not too bad and I bought a few tokens on an exchange. I am not playing with huge amounts, (0.5 BTC) but the great thing is that I made close to 5% on my trade for the day.
I must say if I can do close to 5% every day, I will be able to sustain my trading habits on a full time basis.
Margin Trading
Due to the fact that we are in a bear market on Altcoins, I learnt from a friend yesterday about Margin trading. This is mind blowing, when you are new to trading. For those that do not know Margin Trading, it is quite interesting. The brass tax is that when you market trade, you are actually trading with somebody elses tokens :) You sell these (borrowed) tokens at a specific price, and as the price of the specific altcoin drops, you buy back the amount of tokens which you sold at the higher price, and return these tokens to the pool. The good thing here is that you make your profits as the altcoin drops. This is quite amazing if you think about it.
Well, let me get back to the excitement for the day … you never know if there is another 5% to be made for the day.
Happy Steeming!
Quite informative, though I would have liked you to shed a little more light on the margin trading concept. I would have to do some more research in order to understand it better.Thanks however for drawing my attention to it.
I'm curious to learn more about margin trading. What platform do you use to margin trade cryptos?
Hi @pbgreenpoint. I am using Poloniex ... Just go to the Margin Trading Option next to exhange. They have a nice explanation there as well.
Thank you very much :)
Nice! Got Good Info There Buddy!
Playing With Huge Amounts Can Always Be Risky. Beware Minnows = )
Very informative post.....lot of knowledge to be explore..!!!.
I am going to share the greatest trading system ever created.
Hold Bitcoin.
Amazing isn't it?
It is indeed :) when it is a bullish run like this :)
:D
30 days ago I got in on BTC, bought 0.87 BTC which cost about $4800 Canadian dollars, if I had held that and done nothing else, today I would have $8,000 Canadian dollars worth of BTC. You are so right, buy BTC and HODL!
Trading is great if you get a few great pics, but my experience has not be lucky, Ive bought too late in some instances and too early in others, and as they say "early is just as bad as too late".
Good luck in the crypto world and have a great day.
Thanks for the comment @infidel1258 I hope BTC grows and grows and we all make some cash :)
thats good keep going
If anyone want to know about what is bitcoin visit https://steemit.com/bitcoin/@allishere/all-about-bitcoin
Bitcoin is going to hit the $10,000 mark by December, this year. It's great for the king of cryptocurrency.
The altcoins have suffered serious consequences as a result of this. But there is no need to worry, as bitcoin stabilizes the altcoins are going to achieve their lost values.
My personal opinion to hold the following altcoins:
A good profit can be earned by trading these coins
Thanks for the tips @steemafia . Following you :)
That's cool to know keep us updated :)