Good day people! I am here to share my experience in demo trading in stormgain. I heard a lot of things about trading and I'm always curious about it so I am always reading an article about notorious people here in read.cash. When I read an article about stormgain written by @bmjc98 I immediately signed up there, bmjc98 said that there's a demo trading on stormgain and I can try it. At first, I'm too lazy to do it but last day I tried it and I had a hard time on trading because I don't know the meaning of each buttons so I tried to explore the website first before trading. I don't know how can I buy and sell a coin because I didn't see any button that saying "buy" neither "sell". So I'm just pressing what I want and this happened.
Lol that's the result of my trade, they are bloody red hahaha lol. I also used line charts that time because I don't know how to change it but because of exploring, I saw the settings and changed it into candlesticks😁
I gave myself a time to explore the website and later on, I found the buy and sell button. To be honest I don't know if there's a button for buy and sell but this is what I am doing, I am setting a limit/stop on what price I want to buy a particular coin.
Then I'm also setting a limit/stop where I want to sell the coin that I bought.
Now I know! After knowing those buttons, I tried to trade again but this happened.
It's still bloody red😆 my predictions are always wrong, I thought the price will pump but later on it will dump. I just have one trade that I got a profit😆
Well, maybe because I don't know some terminologies in trading such as leverages. I don't know if it can affect the trade and I still don't know if I can change the leverage of each trade. So for those crypto-experts, what is leverage?😆 I searched it on Google but I don't understand it, too complicated on the internet.
Things to remember when you are trading
1. Be familiar
When you are trading, you must know different terminologies used in trading because who knows that you're just ignoring 1 terminology but in fact, it has a big impact on your trade. Also, you need to be familiar in the features of the broker you used. Explore the website first before the trading because if you'll do what I did where I don't know how to buy and sell, then your trade will fail.
2. Internet connection
I think when we are trading we shall have a strong internet connect because every minute in trading important, just one blink and you'll miss something. When I am doing the demo-trading, my internet connection is not stable so I will reload and refresh the site then after the reloading, there's a lot of changes happened, the price dumps after a minute. I know that it is just a demo but that's the purpose of demo-trading, to train youself.
3. Think first
Before buying a coin, you need to think first. Ask yourself "Is the price will pump or dump?" if you think that it will pump then buy! Just be careful in buying because sometimes—or should I say oftentimes—the coins will surprise you, your prediction is pump but the chart is dump. Think seven times before buying.
4. DYOR
DYOR or Do Your Own Research before trading so you'll not have any regrets in the future. I have this one friend that I met on Facebook, he's also a newbie. His parents supporting him so they gave him 10,000 pesos (almost $210), it is a huge amount of money! Unfortunately, it is his first time, I told him to do spot trading instead of future trading because the former is safer than the latter and he listened. I also told him to invest his money on very well known coins like btc, eth, xrp, bch and so on. Sadly, he didn't listen. He bought PSG, WING and JUV, they are all new coins I'm always asking him if how's his trade and he said that he bought in a high price. He didn't received any profit so he chose to sold it. Now, he only have 4,000 pesos (almost $85). A lot of loss, well, lesson learned for him.
5. Listen
Listening on crypto-experts' advice is the best! They know the best because they already experienced a lot of things, sabi nga nila "Papunta ka pa lang pabalik na ako". I recommend to ask the experts in crypto before opening a trade. Good thing is a lot of people here are generous like Ate Eybyoung, Jane, Eirolfeam2 and bmjc98. They are my guides in terms of crypto.
Stormgain
Pros
1. You can get free capital in mining. You can mine $10 for your starting capital.
2. They have a demo trading.
Cons
1. They don't have spot trading, just future trading ( Correct me if I'm wrong, I didn't notice or find spot trading)
2. I'm not sure if they have an indicators but I didn't see anything.
I recommend to use Binance because it has a lot of features compared to stormgain. However, if you want to use stormgain you can sign up HERE.
If things went according to my plan and I achieved my "saving goal", I will start my trading journey in Binance next year. For now, I don't have a plan to do future trading because it is too risky, maybe I can try it on stormgain when I reach $10 in mining.
Was A Good Read. Really Enjoyed It. But What I Have Experienced Is That You Should Not Set The Leverage Too High Thought The Profits Are High But High Leverage Will Maximize The Chances Of Your Loss. You've Set The Leverage To Maximum Which Almost Makes It Like Gambling You Can Earn High But Also Lose Everything.