It has been a while since I posted an update about my BCH Hodling. In order to achieve my #1BCH goal, I had made myself busy from other stuffs like faucet claims and learning. I am actually trying to learn the process of Spot Trading on Binance.
I have read @Laurenceuuuu and @Jane's articles about spot trading. Aside from the articles that I have read, I also watched some videos and tutorials about spot trading on youtube. I found some videos on what and how to properly do some spot trading. And the best advice that I have learned: Buy Low and Sell High.
Buy Low and Sell High is the rule of thumb when it comes to spot trading. It's simple as it is. Buy BCH as low as possible and sell BCH as high as possible as well.
My first day of Spot Trading was going smoothly since I was able to get $1 profit on my first try of trading. (I don't have pictures since I accidentally deleted it thinking that it was a different screenshot.LOL)
Everything was going smoothly, and I was on my 3rd sell. I set my selling price to $550 since BCH was still around that range up until a few days ago when BCH's price suddenly drops. It drastically drop to $450. So, my $15 drops to $12 in a span of 2days. I know it's not that much but for a first timer like me, it was already a big amount. I was actually on the verge of withdrawing the $12 back to my bitcoin.com wallet however I decided not to for I have faith in BCH and that it will pump up again like it always do. And it actually did!
I cancelled my previous selling order and created a new one, setting it to $455 since BCH's price was around $430. And I was able to sell it after a few a hours with that price since BCH's price increased today.
This is the current update on my spot account:
I still haven't recovered my loss and so does everyone but eventually we will all bounce back and gain profit more than what we loss. BCH is the most consistent cryptocurrency which I have my faith on, and it will bounce back for sure.
For our goals are everyone's goal, together let's aim high and together let's achieve #1BCH. We are #Club1BCH at your service 😉😉😉
Alam mo ba, naka mahigit sampu ata akong cancel sa order ko nong tuloy sa pagbaba si BCH haha. Tapos ngayon may nakasalang na naman, kaso dipa nahihiy target price ko masyadong malaki ee $500, ahahaha. Ayaw ko naman mag buy ng ibang coin, tiwala kasi ako kay BCH ee 🤩