Join 92,247 users already on read.cash

BitCoin Baby - Day 6 "OOPS I did it again"

0 10 exc
Avatar for BitcoinBaby
Written by   83
1 year ago

OOPS I did it again, I played with my coins, got lost in the game. I thought a big dropper would be interesting....but I overlooked one fact......

If the coin is expensive and I can only buy 4.5 coins the profits, even though it´s 44 cents per coin after 2 days, still adds up to $2.10 only. While I invested $27 Dollar.

Now in my simple mind the question raises:
Is that worth it?

Because if you buy a 1000 cheap coins that go up 1 cent, you just made $10.

As I am trading on a budget I am truly wondering if my way of thinking makes sense.

Because maybe I am bias and it´s triggered by the fact I made most profits (so far) of the coins that are worth less than $0,05.
And lost mainly on the more expensive coins e.g. NEO & ZEC. This can be pure coincidence, or is there something to it?

Which brings me to the next question how much should I make on a sell? Should I aim for a standard, say 10%....or should you follow the market and sell before they drop....or right after the initial drop?

Right now I do the aim on 10% and sell with any type of profit if it takes to long. But what I noticed is that this young grasshopper still needs to learn the true meaning of patience.

I did it again part 2

I got so lost in the game and in the playing with my coins that I added an other $122 to my trading account. And again I had to pay the price for doing so.

As I am a tiny bit wiser I checked the worth of that amount of BTC I received (0.00376777 BTC) right away and it added up to 108 dollar. So now I know who get really rich from trading. The people turning your hard earned analog coins into zero´s & ones.

Well there´s only one to blame here and that´s me🤔. As I clicked the fast VISA option, instead of checking out the the actual prizes.

So if you are not in a hurry to get your money in the exchange, I advise to use the Paxful, Pay Pal or Bank Transfer option. That will easily save 10 dollars in fees.

But this Bitcoin Baby is here to learn so you don´t have to. And I unfortunately only learn the hard-way.

Invest Little Learn Lots (ILLL)

One more lesson learned (the hard-way) is invest a little to learn a lot. Don´t jump from coin to coin, but study the coin.

And I do not mean read Reddit & watch YouTube, but buy a little add it to your favorites....sell some ....buy some more and see how it behaves.

I noticed that most coins have a different behavioral pattern. They are like children and the better you know your kids, the better you can manipulate them into doing what you want them to do😋

I´ll be back soon with more Noob News and an update on if my first month on planet Crypto ended Green or Red.....

More Bitcoin Baby

Yesterday´s News
Day 4 - To Trade or Not to Trade

Start from Day 1

Or start reading about my crypto experience from day 1
Day 1 - Welcome to Crypro

Disclaimer:

I do not have any connection with any company I am writing about. I am not being paid to write this article.

If you like my content, please hit like and subscribe. Because more Bitcoin baby Mistakes are coming......

Feel free to provide tips,comments, feedback anything..... Sharing will improve life in general!

Direct Donations are always welcome to keep me going:

BTC: bc1qdsrg7qaefxvel6hn6mjemjd4c8jjs40sasyvkp

ETH: 0x4216fEC23Ae7A7d9c46143Ce56C3e8f301F9868c

Bitcoincash:qqesav8kuwcrhl4y8qs9zfjg90cf8dnlkyz43u9w6u

1
$ 0.01
$ 0.01 from @TheRandomRewarder
Avatar for BitcoinBaby
Written by   83
1 year ago
Enjoyed this article?  Earn Bitcoin Cash by sharing it! Explain
...and you will also help the author collect more tips.

Comments