Hey guys! Today amidst my studies I spent some time every now and then to do some day trading on the Steem/BTC pair on Binance! If you don't have a Binance account, feel free to use my link, all referral rewards are re-invested into Steem!

I Said I'd Stop Posting

I LIED!! I love posting here on Steemit about my life, it's really fun and rewarding! I love sharing my experiences day here as it's the only place I feel people actually want to listen about my day trading experiences haha

Studying Hard

Today wasn't as productive as I had hoped, but there's still 2 more weeks until exams!! I went through about 2 weeks worth of content today for one subject, which is a bit slow considering I have 48 weeks altogether for my 4 subjects to go through. I'm hoping to push towards 3-4 weeks of subjects per week so I'll have time to do some practice exams prior to the end!

Day Trading

Today was quite a good day day trading. I earned about 21 Steem in the few hours that I was studying/trading and the overall value of Steem also went up a fair bit (in terms of BTC). Steem was quite bullish today despite most cryptos taking quite a BEATING as we see a sea of red (which I'll talk more about in my daily update).

Some Tips and Advice

During my last 4 times day trading, I've earned Steem every time! I started with about 3950 Steem and now I have around 4020 Steem. I usually only sell a couple hundred at a time and buy most of it back each time. I trade VERY conservatively and take very small profits. Since I'm playing such low risk, I NEVER buy back at a loss. This ensures that as long as I can complete a cycle of trades, I'll be in profit.

I know most of you probably don't have as much capital as me, but you can still make day trading work with larger risk and larger gains. However, depending on your circumstances it might be more profitable to do actual work to increase your capital, so the small percentage gains are worth more flat Steem!

My Exact Technique

I'm 18 years old, first year uni and never really tried learning technical analysis, so I trade BY FEEL. What do I mean by by feel? As in I sell when I think it's right and I buy when I think it's right. As for buying, I'm not afraid to buy Steem and see it keep falling, however what I am afraid of is selling Steem and never seeing it fall back down, so I trade very conservatively. What does that mean?

I examine the market very closely, I try to look for patterns and when the momentum is coming to a halt, I'll try to sell then. I'm also constantly putting up a couple hundred Steem for sale about 1-2% above market price, depending on where the big sell walls are in case someone market buys up, I can quickly get my sell order filled and put in a buy order for an instantly 1-2% profit, which could be a few Steem depending on how much gets filled and what the profit margins were.

As soon as I start to sell, I keep selling. This means I sell maybe 5% of my total stack, and keep going up. For example, let's say I sell at 0.0003720BTC (which we'll refer to as 3720), I'll watch the market and if it reaches around 3760-3770 and momentum is slowing down, I'll put up a sell order. This bring my average sell price up. If it keeps going up and approaches 3800, I'll put a sell order around 3790. However, it didn't reach this price and prices started tanking. As soon as it reaches around 3730 I bought back half of it, and when it reaches 3690 I bought back another half so I was fulled loaded on Steem again. If it keeps falling that's mine, my job here is already done as I had already made a few Steem. I repeated this process for the day.

Don't get emotional, don't give in to FOMO

At the start of today, I sold at around 3700, then it went up more. I was feeling very anxious because I had sold around 500 Steem at 3700. However, the price was at 3760 at that point. Instead of FOMOing back in, I decided fuck it, and sold another 500. As soon as the price went back down to around 3720, I bought back 500 and bought back another 500 around 3690 and made myself around 6 Steem.

Day trading as we speak

I just sold around 250 Steem for 3776 and 250 Steem for 3797, my next sell order is another 250 Steem at 3832 and if that fills i'll be selling again another 250 Steem at 3875!

DON'T EVER FEEL BAD FOR SELLING TOO EARLY, NO ONE HAS EVER GONE BROKE FROM TAKING PROFITS

Thanks for reading!

For those who have had exams recently, soon or in the past, feel free to discuss your experiences!! However, I probably won't be replying much, sorry guys! I will give worthwhile comments an upvote maybe tomorrow, so feel free to discuss between yourselves.

What to be in the draw to win FREE STEEM EVERY WEEK? Click here for more information!

Want 20-25% ROI on selling votes and be in the running to win 90% of my referral money per week?

Join SmartSteem using this link, and every Sunday I'll distribute 90% of my earnings to one lucky winner!