I Just Turned 20SBD into 60 Euros...

in #steemit3 years ago

The SBD price spiked up to 0.0003 BTC very briefly today.

And guess where I sold? Yup... right there!

How did I do that?

Intuition, Trust and Patience :)

I had put the sell order in Bittrex on November 23. And then I trusted and forgot about it.

And when my alert for that price just went off in Blockfolio (which I set for cases like this), I knew that my order had been fulfilled. Right there, at the top. Wooohoo!

Screen Shot 2017-12-05 at 15.17.13.png

This is more than three times than the regular price of SBD!!

It's a good time to sell your SBD!

Even though the price fell right away, it's still a good time to sell your SBD right now.

As you know, the SBD price normally hovers around $1 USD. Right now it's at around $2.75 USD, so why not benefit from that?

Don't ask me why it's so high right now - I won't question it, but enjoy it :)

I had seen spikes like this before, so I decided it's highly likely that those spikes will happen again, that's why I put an order in for this ridiculously high price.

E voíla, it didn't even take two weeks! :)

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you are right if the price goes up why should be questioned. precisely if the new down should be questioned @connecteconomy 😀

The market will do what the market will do. It doesn't care that the SBD is supposed to be worth only $1 I guess... :)

:O I had a lot of SBD (for a minnow) but powered up immediately, so I'm missing all the SBD fun...

Glad you made such a great trade though!

Yes, powering up is not such a good idea when the SBD price is so high. But normally I'm all for it.

But when SBD is a lot higher than Steem, it could be worth it. The other day I bought 14 steem for 7 sbd, for example.

You can buy Steem cheap now, yes. But powering up 100% directly would have lost you money.
So whenever SBD is higher than Steem (or higher than $1 USD, as it should be), it's better to do 50/50 and sell it. Whether you sell it for Steem or anything else.

Yup!! 😄 full agreement!

super congrats. i really need to understand buy orders and all that stuff, not being a trader i understand the notion of it being on the exchange and setting a trigger point but is there anymore than that to know? btw, congrats. that's awesome! :) - oh and see my blog for an explanation of the $3 SBD, seems to be a korean exchange has listed steem so that might account for it.

Ah the Koreans! That makes sense.

Re the trading, it's super simple. Instead of selling your SBD for the market price (whatever it is now), you enter a price that you want. Either it will reach that price at some point or it won't. If it doesn't, Bittrex will cancel the order after 28 days (and then you just re-enter it if you want :))

This is what it looks like in Bittrex. Just enter your qty and the price you want to sell for and that's it. Make sure you'll leave the "Good until cancelled" option (which it is set to by default). This way the order will stay open until it's either fulfilled or you cancel it.

Screen Shot 2017-12-05 at 16.10.16.png

well that's bloody brilliant, i guess you have to have your funds on the exchange thou right and trust that the exchange does'nt get hacked so small amounts is best. got it, did ya leave ya funds on there or move it out afterwards?

Exactly, only do it with small amounts.
I'll move it out now - it's about €100 with some other stuff I sold, and I desperately want to get back to owning one Bitcoin quickly :) so I'm saving up all the little stuff I get here and there.

makes sense. weirdly i wanted to always own 1 bitcoin. weird. yeah targets and goals! certainly want a crypto spread of funds in a secure wallet in 2018.

I had a few sell orders waiting to be fulfilled up there aswell, yay! I'm low on SBD now though, so can't take much more profit :-)

All i can say change Sbd to steem it will be profitable

Yeah, I've done so a bit in the past, but I wanted more btc now, so I could trade some for euros and have some left :D

Me, too! Have to earn more quickly ;)

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