$100+ Profit In Short Trading

July 27, 2022

It was 2 weeks ago when the whole crypto market plunged and many thought that it would reach the bottom. The total crypto market capitalization even dropped below trillions. Many took that opportunity to do crypto shopping as the majority of the tokens were on sale. Some got FUD and opted to sell their tokens at very low prices.

As many crypto buyers dived in, an upward trend was seen thereafter. It continued and the whole crypto market became too volatile.

We've been seeing a green market for more than a week now and it is definitely a pretty sight. It goes up and down, but after some corrections, it goes up again. Some would find it peculiar as there might be underlying causes or more possible crashes to happen later, but a small trader like me would take that opportunity to earn a small profit. It's when the market is too volatile that more traders dive in.

Before June ended, I was able to buy a small amount of ETH from the amount I got from selling HIVE. I opted to use it in short trading and ETH was the first token I chose. I bought 0.165 ETH worth $193 at $1170 price, then sold them at $1200 and I got a $5 profit from this trade.

While saving the profit, the capital was then used to buy 2 BCH at $99.5. If I only had more extra stablecoins, I would definitely buy more BCH at this very low price. I sold them at $112 and got a $25 profit. However, it was a bad decision I made.

I thought a $25 profit was already good, but BCH just suddenly became hyped and its price continued to soar higher.

After selling BCH at $112, it was followed by 3 more BCH at $115. Then as the price continued to rise, I opted to throw in 3 more BCH at $121.

All orders were executed, and I thought it was a good decision, but actually not, as BCH even soared higher to $130+.

The 3 BCH I sold at $121 were then bought back at $113.8 price yesterday, and I got a $22.6 profit from this trade.

When the market remained green, I opted to redeem my tokens from the Binance Savings account and threw them into Spot Trading.

Sold:

ETH: 0.3508 at $1425

BTC: 0.006 at $22,500

BNB: 1 at $270

XRP: 300 at $0.38

My profits should have been bigger if only I waited a little longer when tokens reached their highest prices in this bull market. Unfortunately, I got weak hands and sold them too early. Nonetheless, profit is profit, and I should value it more.

I tried to pull out more patience this time and opted to wait for the right time to buy back. In this way, I could earn more profit. But it seems that the crypto market won't reach that deeper dip this time. When the majority of the tokens dropped to almost 10%, I opted to place buy orders of the tokens I sold.

Bought:

ETH - $1395 ($10.53 profit)

BTC - $20,850 ($10.10 profit)

BNB- $250 ($20 profit)

XRP - $0.328 ($15.6 profit)

So the total profit from selling BCH and these 4 tokens was $108.83.

Meanwhile, the HIVE token skyrocketed yesterday and almost hit $0.60. I opted to send a small amount of HIVE to Binance to use them in Spot Trading to accumulate more HIVE. I was able to sell 50 HIVE at a $0.50 price. The $27.50 selling value was then used to place a buy order at $0.35. If this order will be executed, then I'll have 28 HIVE profit.

A buy order of 5 BCH is still pending at a $110 price. I can't just buy at a higher price since my selling prices were $115 and $112 respectively. But I guess I need to wait a little longer to make this executed. If this will happen, I'll have $19 profit from this trade.

This is just a small profit compared to others. But if accumulated over time, a small profit will become bigger. At least, I got some than getting none.

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