They say that when you are not profitable during the bear market, that means that you are not yet ready to make a profit during the bull market. That's why I'm trying and learning my way out into making favorable gains even during the bear market to control and prepare myself when the bull run comes.
My spot trading journey started last May 16, 2022, when I decided to go back into trading again after I realized that I am no longer earning that much from blogging in read and making short posts in noise. The drop in my BCH earnings and the uncertainty of the longevity of these platforms motivated me to look for an additional side hustle to have another stream of income since I am in need of funds for my piggery business. I thought that if I keep relying on both of these platforms, my piglets might just end up starving and that I won't be able to achieve most of my goals anymore.
In an article that I have written before titled "As a Small-Time Trader", I have shared there about how I started. And I began with just a $13.33 capital that I earned from my CAKE staking earnings in Pancakeswap. I used that $13.33 capital to buy UST tokens which made me earn more than 100 percent profit from it, or around $13.67. Then I also started trading my 6 BNB holdings that were just lying in the BNB Vault. And I also decided to unstake my 208.52 CAKE holdings on Pancakeswap to have bigger capital. Based on my article, I was able to grow my $13 into $49.87 in just 4 trades.
And after some careful consideration and reminding myself about the risk that my decision will encounter, I ended up to the conclusion that I should start trading my 26 BCH holdings as well to take advantage of the volatility of the crypto market. I thought that if I trade them too, I might earn bigger profits since BCH is my biggest bag. That's why I also Started Trading Bitcoin Cash on Binance Exchange. I thought that if I were just to let my BCH sit in my bitcoin.com wallet and wait for the price to recover and start pumping again, then I will end up wasting time and I might miss out on the opportunity of getting to earn more profits by trading them. We all know that the bear market will last for months and even a couple of years and the time spent waiting won't come back anymore so I better do something profitable while waiting for the bull market to start.
And after constantly trading every single day and whenever I got the chance to play with the volatility of the crypto market, I was able to Cash Out $205.52 in my Trading Profits for my Fiat Goals. After cashing out, there were still $200 BUSD Profits left in my wallet. My first time cashing out my trading profits motivated me to do better in trading since I saw that it really is possible to make favorable gains even during a bear market.
Then I became more vocal and open about my Spot Trading journey where I have shared and documented the profits I was able to make with my successful trades. I shared how I was able to make a $100 Trading Profit in 1 Day! and another $100 profit on the following day which made me Earn $200 in Just 2 Days! My spot trading luck kept going until I was able to make 2 Trades and a 3-Digit Profit and on the same day when I made those trades, I actually got to earn a total of $250.84 trading profits from trading BCH and BNB simultaneously.
And now, after exactly 30 days since I started actively spot trading last May 16, I'm happy to share that I now have a $755 BUSD profit left in my account.
If I were to add the $205.52 that I cashed out before it would be $960.87, and if I remove my initial capital of $13.33, I was able to accumulate a total of $934.54 BUSD trading profits in just 30 days of Spot trading on Binance exchange.
It's probably not yet remarkable for the experts in trading, but for a noob like me who is just sticking with my trading rule of "Sell High, Buy Back Lower", that amount is more than enough already.
Now, I don't have any plans to cash out my profits yet as I'm planning to use it to buy more BCH when my desired price comes to me. And the price where I would like to buy more BCH is between $50 to $75. When that happens, it will be too bloody in the market already and some will probably be scared but I will take it as an opportunity to grow my BCH bag.
The price of BCH might have been disappointing but I still believe in it. If it was able to rise from hitting rock bottom during the last bear market, then I have hopes that it will do it again. I hope so!
Anyway, Cheers to more profits to come!
It's a beautiful thing making money from the market no matter the prevailing trend. Nice thing you understand how to trade, though I would call what you do now as more of gambling, you can only grow from here. The market as it is now is more of a traders market than a hodlers market. Kudos