It's been quite a while since I last wrote an article about my Spot trading journey on Binance and here I am again, sharing some updates about the progress of my journey in spot trading cryptos. It's not to brag because I'm sure it's nothing compared to the journeys of those who are more knowledgeable when it comes to reading charts and trading but I just want to document my journey to see if there is actually progress with my trading strategies even if I'm just a noob crypto trader trying her way out.
If you have been reading some of my articles related to my Spot trading journey, you probably already know that I started getting back into actively trading again mainly because my BCH earnings from read and noise have declined and it can no longer sustain my needs and wants if I keep relying on them. That's why last May 16, 2022, I mustered up the courage to open my Binance account again and deposit some of my cryptos to serve as my capital in Spot trading, and that includes all of my Bitcoin Cash holdings that have been lying lazily in my Bitcoin.com wallet.
After I have shared my one-month update regarding my Spot trading journey through an article that I published titled "I earned $950 Profit in Spot Trading in 1 Month!", I took that as a motivation for me to do better with my trading journey so that I'll get to earn and secure more profits, which I will also use to grow my Crypto Portfolio again.
On the evening of June 15, 2022, I decided to manually track every move I make with my cryptos by writing it down on my yellow paper the coin, the amount I've sold and bought, the date I got to sell buyback the coin, and also the profit I was able to make from trading. This way, I'll get to monitor my trades better and see if I can generate such kind of strategy or derive a pattern with the crypto prices.
And after almost 3 weeks of trading Bitcoin Cash on Binance, where there were some days that I didn't get to make any trade due to being busy in the real world, I'm happy to share that with a total of 39 successful trades, I was able to book and secure $404.858 profit.
Profits from My Successful BCH Trades:
June 15- $13 + $13 = $26
June 16- $4.8 + $17.308 + $0.50 = $22.608
June 17- $2.50 + $2.50 + $2.50 + $10 + $6 + $5 + $10 + $1.5 + $6 = $46
June 18- $15 + $10 + $5 = $30
June 19- $25 + $27.50 + $17.5 + $5 + $10 = $85
June 20- No Trade on This Day
June 21- $5
June 22- $7.5 + $9.5 + $5 + $7.5 = $29.5
June 23- No Trade on This Day
June 24- $7.5
June 25- No Trade on This Day
June 26- No Trade on This Day
June 27- $6 + $5 + $17.50 + $17.5 = $46
June 28- $9.10
June 29- No Trade on This Day
June 30- No Trade on This Day
July 01- $5
July 02- No Trade on This Day
July 03- $18.90
July 04- $13.5 + $10.8 + $21.6 = $45.9
July 05- $28.35
Total Profits= $404.858
If you are following me on my noise.cash account, that's where I usually share screenshots of the successful trades that I got to make on these days.
As you can see, there were a total of 7 days where I didn't get to make any successful trades, and some of the reasons why were probably because I was busy with Academic-related activities, I was hanging out with my friends, or my trades were stuck that I couldn't buy back the BCH I sold on that day. But even if that was the case, I'm still happy because I got to make hundreds of profits just by spot trading my BCH, which I'm sure I wouldn't get to earn if I just let them sit in my non-custodial wallet.
As of the moment, I already have a total of 27 BCH on Binance, which serves as my capital in Spot trading. I know the risk that comes with putting such a huge amount of Bitcoin Cash on a trading app but I'm willing to take the risk that comes with it just so I can take advantage of my Bitcoin Cash holdings, especially now that the price of BCH is too low and it's such a waste of chance if I won't do anything to benefit from it.
Anyway, this is just a short update regarding my journey in Spot Trading my BCH holdings on Binance. Although I'm already making a favorable profit from trading, I know that I still have a lot of things to learn that's why I still consider myself a noob trader. Well, what matters to me now is that I get to make a decent amount of profits from spot trading and not the other way around.
Cheers to more profits to come!
You're a big whale eiro 🥲