a crypto noob goes trading

At the beginning of this month, I published an article about my goals and two of those goals are to learn about cryptocurrency and to try trading.

I have been inactive here lately because I have been busy in the real world and i'm quite demotivated because Rusty gone thrifty on me since last week of March so i'm not really in the mood to write.

But then, I remembered that I still have other goals to accomplish this month so instead of letting myself be demotivated here, I tried to focus on my other goals which are the 2 things I mentioned above.

I did watched videos on YouTube to understand more about cryptocurrency. It's actually a nice idea that I decided to watch because through watching, I got to understand the things that terms I have encountered on articles which I found so overwhelming. I get it more on the video so a few minutes of watching and I feel so delighted.

Anyway, i'm still not knowledgeable enough with crypto, I surely have still a lot to learn because what I learned are just the basics and until now, reading crpyto related articles still confuses me because I don't get all of it.

I must say that I still have a long way to go exploring the cryptoverse but it's a good sign that I get to start learning and exploring it already.

To get to the main point, yes, I finally tried trading!

Well, what I did was just try to spot trading on Binance. I watched a tutorial video on YouTube on how it works and on how to use it and it seems quite easy that's why I finally decided to to try it.

So here's what exactly happened:

From my bitcoin.com wallet, I deposited a total of $18 to my Binance account. It come from one of my wallets named "FOR TRADING". The amount was not that huge but that's the only amount I can afford to lose that time.

And yes, i'm just starting but since the very beginning, I have been funding that wallet with small amounts that I can afford to lose because I have read somewhere that it's like that in trading. We should only trade what we can afford to lose.

I was so anxious as I transferred the amount. I'm not afraid on how is it possible for me to lose my BCH but i'm actually afraid because the amount that I transferred isn't reflecting on my Binance account yet. But later on, I found out that it was normal to have an 18 minutes delay with the transaction so I keep calm, wait for those seems like so long minutes and finally, I successfully transferred it.

First thing I did was to convert my BCH to USDT so that I can buy other crypto. Honestly, I don't really know what to buy. I'm guilty because I don't really did my research properly. Even though I feel enlightened after watching the tutorial, it kind of brings a different feeling when i'm already doing the actual trading.

So I started trading with "buy low, sell high" as my only guide. What I did is to look for those coins that have a bloody red color, I observed it's chart from a few days, or even months ago and see about its performance if it has a potential to go up again.

After looking into it, LTC was a bit bloody back then so that's the first thing I bought. After many hours, I saw its price increasing and I got so excited that's why I sold what I bought instantly. At first, I was so happy since I earned, but then, when I came back to see the price of LTC the next day, it became higher so I regret selling it so hastily.

The next thing I bought was a THETA token. I remember buying it at 12.20, then I set an order of selling it at 2.50 but a day passed and it wasn't reaching 2.50 so I get impatient and sold it at 2.35. Once again, the next day, I was so surprised to see its price hit 14, regret came again. Haha.

Next is I bought AKRO, it's not really that much but what's important is that I earned even a little.

I've been doing this for like a week now and I earned $5 so far. I was so happy about that. But last night, I though THETA would go higher again so I bought it at 13.34, at first, it was increasing but sadly, it's price declined again. It's only 11 now!

I checked my remaining balance and it's still $18.80 so technically, i'm still not losing anything. Though, I am prepared to lose, i'm just so happy that I lasted almost one week without losing anything.

Well, I've been really impatient but I did learn already. Now, i'm just laughing at myself for those impulsive decisions that I made.

Oh, another thing. 2 days ago, I also tried Detoken.

After BCH pumped more than a thousand, I already expected that it will again decline. So, as soon as I saw that it was declining, I observed it for a few minutes first, then I just feel like it will continue, I made a entered a hedge position at detoken.

Detoken is quite easy so i'm not really nervous using it. Plus I only deposited $20 there, and that's another amount i'm willing to lose so it's all good.

After 24 hours, or 144 blocks, I was so happy to see that green thing there lol. After my position ended, BCH rise quite a bit so I did earn a little on detoken. I checked my balance and I earned $1.8 overnight.

Closing thoughts...

I already told you on it's title that I am a crypto noob so I hope you understand all the bad decisions I made here.

After that short experience in trading, i'm a very patient person but I realized that i'm not one, when it comes to trading.

Now, I ought to be more patient. To observe carefully and to not do any decisions hastily. Every decision is important so we should think hard about it.

Also, for those who are newbie here like me, and if ever that you would also like to try trading, keep in mind to trade only what you can afford to lose so that you can avoid stress and frustration thinking if you made a right or wrong decision.

I know that I still got a lot to learn. My decisions are almost all impulsive, i'm just lucky that I didn't lose anything. But i'll continue to learn more as I explore this cryptoverse. I won't stop trying because after all, experience is the best teacher.

For those who are knowledgeable enough out there, here's my experience and i'll appreciate your criticisms, opinions, and tips so that I could improve more in trading. Thank you! :)