First spot trading on Binance

Alright, I published this article since some of my readers request for it and I also don't have a topic so let me share my first spot trading experience on Binance. If you're one of my generous and beautiful readers, you probably know that I have a goals—specifically a crypto-goals—and one of it is do the spot trading.

I also achieved my first goal which is to save $150 on the first month of 2021. Additionally, the bot (rusty) has been generous at me this past few weeks so I also achieved the $50 goal in one month. We're on a half of the month but I already achieved the $50 goal, can I achieve $200 before this month ends? If I earned on this article, I immediately monitor and note it so I can monitor my earnings before the month ends. Let me update you at the end of the month.

So moving on, January 13 I deposited $23+ in Binance and it is my first deposit because I want to give a try on how to do spot trading because some experts say that it is easy compared to what we think so I tried it. I send my $23+ in Binance and after 10-20 minutes it arrives. 

At first, I don't know what price that I will set but since the price of BCH is on $460-$480 I set the price on $502 because my gut feeling says that it will pump, yeah I'm not using technical analysis just my gut feeling😆 After setting the price I leave it since it is just a spot trading where our BCH will not be liquidate.

January 14, 2021 the price of BCH reached $507 so I immediately went to Binance and check if my BCH is sold and yeah! I've got a profit! 

My $23+ became $25 so I have a profit of almost $2 and that is fine for me! Maybe some of you will say that it is too small but for me as a student and a noob in crypto, I'm happy that I got a profit even a small amount. To be honest I blamed myself because I didn't set the price in $507😆 Well, I took it positive instead of thinking negatively, "Greediness can lead to a failure". So some of the users ask me to teach them in spot, actually I'm embarrassed about this because I'm still a noob but I will make a tutorial😆

1. The red one means you will BUY BCH USING USDT. As you can see, you're on the BUY tab.

2. The yellow one means the PRICE OF BCH that you set where you want to buy. [Use the photo as the reference] As you can see on the photo, it is on $511 so it means when the BCH reached $511 it will buy BCH automatically. 

3. The green one says that 100% of your USDT will be converted into BCH in short, you will buy BCH with all of your USDT. 

4. When you're already done, click BUY BCH. It will go on your orders and all you need to do is to wait.

Selling has the same process, set the price, use 100% if you want to sell it all then click SELL BCH, it will automatically go to your orders and when the price reach your desired price, it will automatically converted into USDT. 

For me, it's hard to decide when it comes to crypto especially if you're lack of patience. Until now my $25 is still on USDT because the asset that I want to buy is still not reach the price that I want. I am hitting two birds with one stone since one of my plans is to diversify my portfolio, I am planning to buy LTC so I can hodl it. By that, I achieved my goal which is to do spot trading and also buy another asset (I don't know if you can call it diversification but I consider it as one, please let me know if it is)😆 I will buy LTC once it dumps, I'm also planning to do spot trading then buy LTC again. 

If you want to read a well-explained article about spot trading, I recommend to read an article written by Ate @Jane, "Spot trading on Binance" I think it can help you a lot to do spot trading because I also used that article to do my spot trading. 

I hope that I can achieve my goals sooner or later and I know that I/we can achieve our goals if we will do it together and to make it real and easier, join the #CLUB1BCH because this club has a lot of people that has positive mindsets and I believe that when you are surrounded by positive people, it can create a domino effect and you'll also become a positive thinker, dream high but reachable😁 Goodluck to our journey!

#CLUB1BCH