My Transition To Enlightenment: First Hours Of Crypto Trading
It took a bit of time, but now am IN; in Steemit as well as in Crypto Currencies including trading!
In October last year I was introduced to Steemit, at least in the concept of it. It took me 3 months before I opened an account, and another couple of weeks to actually login to Steemit, to start reading posts as well as writing and posting my very first. I don't have a history of blogging; I'm not a writer; Even on the mainstream social media, I'm not active at all in posting, reposting and commenting. BUT, Steemit got me into sharing some of my knowledge and humour (hope you like it) with you, the community. At the same time, I see myself more and more trying to find interaction with, again, you. I have such a great time, that a lot of hours is absorbed by reading, curating, and writing posts, and I love it. Thank you all for making Steemit a great place to be, for me. A special thanks goes to @mammasitta who told me back in October about Steemit, the weekend Steemfest was on in my home town Amsterdam.
The last couple of weeks I started reading in more detail on crypto currencies and got inspired to actually do something with it other than investing my time in Steemit and earn Steem and Steem Power. And finally, today I took the next step. I opened an account at an exchange and transferred some Steem Dollars to it. Although I really like to power up as much as possible, I also wanted to get the experience of trading. At least I can say, you the community supported me 100% in getting into trading using the Steem you helped me getting into my Steem wallet. Thank you again!
Having the funds at the exchange, now it was time to decide what to do with the available funds. More or less blindly I converted most of the Steem Dollars into Bitcoins and bought DASH and BURST and kept some Bitcoins as well. Yesterday I read a post and watched a video of DASH (here credits: @luzcypher) and I liked what they are trying to do with the coin, especially the simplicity part of it, not only for the user but also for businesses. BURST I bought since I read a post earlier this week by @craig-grant (post here) who is into mining, and has a preference for DASH and BURST.
The rest of the afternoon I was more or less constantly checking the trading charts on DASH and BURST as well as my wallet value. What a ride! The total value went up and down BIG time! Especially DASH is very volatile today! But I guess also Bitcoin is moving around quite a bit. BURST is quite stable, but it also a very small currency. But WOW! In the couple of hours tracking my trades and investments I saw peaks of nearly 5% profit, to lows of a little less than 5% loss. Luckily, at the time of writing this post, I'm in the green again! I start to see what day traders like about what they are doing, I think I can easily get hooked as well :)
Any of you who like to give me advise on crypto trading, what to look and lookout for, what to do, what not to do etc, I appreciate your support really much. Any other comments are also very welcome :)
Thank you all again for making this journey in crypto land and on Steemit such an interesting and positive one! I hope to be here for a long time to come; I hope you do as well!
Your story reminds me a lot about mine too :) I'm grateful to Steemit for the opportunity to learn about bitcoin, cryptocurrency and having amassed a little cushion of Steem, i have been trading in the same manner as you, taking advice and reading on here :) A great experience!
Thank you for your comments. Super! Are you trading often these days? Or from time to time you trade something? I'm afraid I can start using all my available time on trading, and Steemit, but need to find a balance. Today, no balance whatsoever, but that is ok :)
I keep an eye on my portfolio every single day. I don't know if it's a good idea, because that makes me very nervous sometimes and leads to premature and silly decisions. However, I am not (yet) a compulsive trader... My adage is that as long as I have not sold, I have not lost anything... Trading teaches you patience :)
I have some experience with 'trading' on the normal stock exchanges, but that are in principle long term investment I hardly look at. Maybe I should do the same with cryptos, but I suppose the volatility of cryptos is soo much more than 'normal' stocks and bonds and the success and downfall of cryptos soo much less predictable than 'normal' companies, that I may have to do daily tracking as well. But, indeed, daily tracking may lead to getting scared and making the wrong decisions. I suppose, I need to follow cryptos in the news to understand were the ones I invest in are heading to. Maybe that is better than daily balance checkups.
I am really glad that I got you hooked @edje
Now its time to teach me about trading soon. Where did you open an account?
Stay enlightened :)
I'll teach you what I know, but that is not a lot :)
I feel like I'm in the same boat (but haven't tried any other crypto). It feels like steemit is a really safe and fun way to get introduced to this world.
Welcome on board! It took me also 2 months before going 'into' trading :)
Thanks! Good luck with it. I'll follow you to see how its going.
Thank you! Keep in mind: I'm just a nobody in the land of cryptos, so it is proper casino ride for me :) Followed you as well
Where are you trading - I mean on which platform?
Poloniex at the moment. But not satisfied with the number of trades per minute. Since I go for super short trading, I want lot of trades being done per second. But I don't know if a platform is out there having higher trade volumes than Poloniex. If you happen to know, I'm interested.
Not really trading - as of streemtrail i created open-ledger - issue there my company has them on the black list - checking some options currently. Thanks for helping @edje
Maybe you want to double your STEEM with our game....
hahahaha, also pretty much big gambling thing :) maybe I should try it, will have a look at it next week. thank you for your comment here.
I just followed ....whats that ? another new game ? I am getting dizzy :)
I did about the same than you. I had some experience in the traditional stock market though.
Did it bring you success so far?
yes, got a +30%, but I put a very small amount on it ^^ (I mean about the crypto, not the stock market)
30% is great! I just hope that I did not enter on the exact wrong time with the surge of Bitcoin and other crypto currency over the last weeks. But also I do only put in 20 SBD, so that is not more than a couple of loafs of bread or 2 cocktails :)
honestly, I have not enough informations to make real investments. you need to know hat happens in the whole system, and stay updated with news - at least, it works this way for the stock market. :)
true, I also do not have such information at hand, ie not following the news in the required details, but now I may start doing so :)