Day 1 - Diary of a novice trader - Daytrading altcoins on Bittrex

Hi Steemit!

So, I have started to trade altcoins this week and am enjoying it so far. Mostly focusing on daytrading and turning small but quick profits (or losses). Trying to reduce risk as much as possible. I'm very new to this so obviously making a lot of mistakes, but I thought I'd be good to share these right away so others might learn from my mistakes as well.

I had some spare time on my hands and a few bucks I could miss, so I thought I'd give it a shot! I bought a 100 euro worth of Bitcoin and registered with Bittrex and Coinigy. Started checking out the charts for a bit, doing some research on the interwebz and after a while I finally placed my first bet (it still feels a bit like gambling...), I invested around 10 euros worth of bitcoin in SiaCoin. And that one actually went pretty well for a first I suppose:

The one after... a lot less...

I notice that it's very addicting, but that's probably because it's a lot of fun. I made quite a lot of trades by now, most small amounts to try and figure out how this all works. I haven't made any real losses or profits yet, so I guess there's no point in posting my balance progress. It's still around a 100 euros worth in total.

One particularly shitty thing happened though.

I had invested around 20 euros worth of BTC in STEEM and for the first few days, not much happened to it. Being a nooby and all, I got impatient and when the price finally raised, I sold most of my STEEM.

So... you might have noticed that STEEM has been surging to the moon the past two days....

YUP! I SOLD IT ALL RIGHT BEFORE THAT!!!! &U%$ me!!

Ow the regrets. I can't stand it.

What do we learn from that? Never sell out to early?

But then how do you know when's too early?

Yeah, I have no idea. Which shows, as the same damn thing happened with Ethereum. Couldn't hold myself together and I sold it all for a small profit, whereafter it raced up like crazy!!!

That looked like this:

Anyways, I guess I have a lot to learn still. But practice makes perfect they say huh.

Some of the better trades I did were with :

• Ethereum Classic (also surged, but sold a little later this time).
• Litecoin
• SiaCoin
• Cloak

Aaaaand... I took a few small loses with:

• Bitbean
• BAT
• Internet of People
• Waves

So yeah, I won some, I lost some. 5 euros up, 5 euros down. Not much happening.

And I'm happy with that.

I'd rather check out the market for a bit longer and hopefully slowly work my way up from a 100 euros. That way, if one day I will actually trade with larger amounts, at least I've had some practice.

Anyways, I'm starting the new week today with the following coins (still) in my wallet.

• Komodo
• Library Coin
• LiteCoin
• Musicoin (mostly out of interest)
• SiaCoin
• Stratis
• XEM
• Ripple
• ZCL

I've spread them all nicely, hoping that any of these will surge and the rest stay relatively safe for the coming week.

Yup, that's my strategy.

I know.

Anyone else of my followers doing (day)trading in altcoints?
What are your favorite altcoins? Any other tips for a beginner?

STEEM ON! and trade on!

unless you've lost more than you can afford to lose...

PS. Shout out to @quickfingersluc for some great Youtube videos on trading with Coinigy. Thanks!