I have been actively spot trading in the Binance exchange for less than a month now, since May 16, 2022, and I'm just so happy and delighted that there is now progress in my trading journey.
In an article that I have written a couple of weeks ago titled "As a Small-time Trader", I have shared there my story of how I started trading again after some time of being away from the crypto market since I would only feel demotivated when I see that the prices of some of my crypto holdings are dumping. I started with just a cute amount, around $13, which I got from my CAKE staking earnings in Pancakeswap, to test the water and see if I will be able to control my emotions. And after that first successful trade, I became brave enough to trade with a bigger amount that serves as my capital in trading.
And from only trading my CAKE and BNB holdings, I also started Trading Bitcoin Cash on Binance Exchange to take advantage of my BCH holdings that were just lazily sitting in my bitcoin.com wallet. I thought that it would be better if I use them as an additional capital so that I get to potentially earn extra profits in trading them while waiting for the price of BCH to recover and pump up again.
And after how many days of waking up early just to check if the market is in bloody red or not and after how many nights of getting to sleep late just to see if I could make another successful trade before I slumber, I'm happy to share that from only starting with a cute $13 capital, I already earned around $400 trading profits from continuously spot trading my CAKE, BNB, and BCH holdings. I know it's not that incredible amount compared to the profits of experts in trading, but for a noob like me, it's already a remarkable amount which somehow serves as a validation that I'm learning and there is positive progress in my spot trading journey.
And because I need some cash to achieve my Fiat goals, where I need to save 2,500 pesos every month for my Cebu Trip, save 250 pesos every day for my Daily Savings, and save 1,500 pesos every week to build my Travel Fund, I have decided to cash out and sell through the P2P Merchant the 205.52 BUSD of my trading profits. I got to sell my BUSD trading profits at the price of 52.83 pesos and for a total of 10,857.88 pesos, which will cover the month of June. To accomplish my fiat goals this month, I need a total of 11,500 pesos and I'll just fill the lacking with my own personal money.
Now, I only have $200 BUSD left from my profits, and I'll try to grow it again using the trading strategy that I've been doing, which is to sell all of my cryptos at a certain price and try to buy them back immediately when the price dips, even with just $0.1 to $1 difference. It's quite a tricky strategy because I'm sometimes doubtful if my buyback order will be filled or it'll be left behind when the market is pumped already. But it's been working for me so far so I'll still stick with it.
I know I'm still a noob in spot trading and I still have a lot of things to learn like learning to read the chart but I'm just really happy with this small victory.
Cheers to more profits to come! 🎉
Congrats sis 🥳