A whole new world! Trades of a hundred thousand Satoshis!

in #trading6 years ago

The other day I made a decision that would be a monumental change in my trading that I didn't expect to make such a huge difference.

You see, for months I've been using Bittrex for my crypto trading.

It's usable.

It has its problems and annoyances.

The biggest annoyance of Bittrex has nothing to do with trading, it's the fact that the assholes want me to solve a fucking captcha every time I log in.

And sometimes, if I haven't made a trade in a while, it logs me out.

Of course, you might not know you are logged out until you try to make a trade. This means that while I'm waiting for the moment to buy in, I can be logged out, and then have to identify busses in a bunch of fucking pictures while I lose out on the perfect buy in.

The second most annoying thing about Bittrex is that for whatever reason, I get a delay on the charts. It's a pain in the ass. It means that for me, on Bittrex, it's easier to trade based on the order book and lines of resistance than it is by watching the charts.

I actually do fairly well with this. I've doubled my portfolio several times and recovered after the crash when at times I was too afraid to just sell. It was just fucking scary.

During the crash, as I tried, and succeeded, to recover losses from times sleeping and afk, I thought I did damn fucking good.

But then I had to buy a gift for someone, and I needed to use crypto.

I put it off as long as possible and tried to grow my portfolio as much as possible so it wouldn't really hurt me that much. It was still a pretty big hit, as it was a big gift. If I had been a total asshole, I would be in a much better position, crypto wise.

While I was trying to make the purchase though, I kept having fucking issues. Bittrex is just too fucking slow for transfers often. To buy something, you have to convert your crypto to something that's easier to transfer and the shop supports.

To do it the proper way, you should do the calculations for how much crypto you need, convert it, then send a bit extra to your wallet to cover fluctuations in the market.

Of course, the lazy way is to wait until it tells you how much crypto it wants, then sending that much directly to the shop. The problem is that Bittrex is too fucking slow. Don't even fucking think about trying to pay for something with bitcoin either, because you're being lazy. Bitcoin is already slow and expensive. Bittrex charges you like $5 for your lazyness, and they don't even pay the miners enough that they verify the transaction with anything even resembling any sort of expediency.

But I was fucking lazy and tried.

Long story short, I got annoyed and decided to stop being lazy and try to see what other exchanges I could trade Steem on. I like to trade Steem. I trust in Steem. Steem is good.

So I checked what other exchanges had Steem and tried one out.

I should have tried out Binance a long time ago.

But it's not so great either. I really fucking hate how they force me to enable Two Factor Authentication to withdraw. Though I suppose it's moderately better than having to verify your identity with a government-issued ID, linking every transaction you do with your identity so big brother can look over your shoulder, just in case you choose to spend your money on something they don't like. Of course, two-factor authentication is often linking your account to a cell phone, which does pretty much the same thing.

Binance is totally fucking usable though. I feel like a god on the platform. I'm doing better trading than I thought was possible. I just see an entry point and take it, then make $5, $10, $20 bucks, sell, wait for another entry, rinse and repeat.

It's amazing.

I had no idea I was this good of a trader.

Not saying I'm a god or anything. Oh wait, I did say that. Okay, that's just how it feels. There are a fuckton of better traders out there. I just didn't realize I was as good as I was because the platform had been holding me back so much.

I had tried multiple times to find a trading tool that worked for Linux that I could use, with little success. I guess I could have tried harder. I didn't like the few I could get working. Still trying occasionally.

But, whereby before I was making profit, suddenly it feels like so much more is obtainable. It's like a whole new world of possibilities has been opened up for me.

Now I just need to write an AI trading bot that magically makes me money.

3512440518_986d5c5847_z.jpg
Hey! Look! Alladin coin is mooning!
"A Whole New World" scene in Aladdin, A Musical Spectacular by Loren Javier May 7, 2009 CC BY-ND 2.0 (source)

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Binance is the best, I've been trading in STEEM/BTC for ages, ocassionally dropping into BNB, always keep a little BNB as you get discounted fees on trades as long s you have some in your account.

best of luck trading.

edit: I also use a neural net trading bot on the exchange :)

Thankfully I figured that out, as I was super annoyed by it taking the fee out of the end crypto bought, rather than the cost. Uneven numbers are the devil! :P

I have so many tiny tiny amounts of of vague crypto, what I call the dust of trades gone by.

STEEM/BTC has some good volume, and lots of movement to take advantage of for the savvy trader.

Yeah, for now, I trust in it. I trust that it will go back up if I fuck up and make a bad trade. Well, that's assuming that people don't grow tired of the bots and the struggle. The user base provides some nice healthy "trade volume".

I'm in buy mode, so in there trying to get the price down a bit more right now :)

but also knowing what all the bots do, you can trade off bot behaviour as well, cause well they are bots :)

Yep! I did that on Bittrex a lot. On Binance I'm finding that I can actually use the bots as indicators of movement and a lesser degree, points of reversal.

Teach me your ways.

LOL! Dropped in to see what you've been up to lately. Great article, as I'm just learning to actually trade on this platform. I agree, I like Steem. I trust it, it feels pretty solid to me. Glad you are now a trading God!! :). I'll have to check out Binance. :).

@geekpowered You have received a random upvote from @transparencybot for not using bidbots on this post and using the #nobidbot tag!

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