Post
Topic
Board Trading Discussion
Re: Amount of Bitcoin for a profit on Trading ?
by
maokoto
on 28/09/2015, 22:36:49 UTC
Hello Omega

I am no trading expert in crypto, although I did it for some time with stocks some years ago. In my opinion you learn a lot just from trying and learning what the chart means, learning to limit buy and sell orders etc, and cryptos are a GREAT opportunity for learning without risking significant money.

If I were in your place I would start with 0.001 or so and try for a week or two at first. As you try and start, you will get ideas for creating a spreadsheet to record your tradings and calculating price averages, profits, fees and all that. Then you can decide to invest more.

As for day trading or not, I think one can risk day trading with these (low) amounts of money to see how it is like. I remember doing that when I sold/bought stocks. I would do something as checking the day before chart and putting an order to buy at a reasonable price, then (when the order fired) I would calculate a minimum profit (between 0-1%) and put a sell order for that price. If the price went down instead of up, I would decide whether to buy again to compensate or accepting loss. This method more or less worked except for some moments that prices would just go down and down with no fluctuation. I bought and sold in about 200-500$ increments (with the fees it was the only way of gettin profit) but with cryptos you can risk much less and try.

I have applied the same to crypto in the LTC/BTC pair for some days, but I decided to quit trading as I felt a little obsessed with prices and thinking about it and wanted to have some peace of mind.