Post
Topic
Board Speculation
Re: New to bitcoin Need some advice!
by
davis196
on 17/06/2017, 06:17:54 UTC
Hi I'm a newbie to this whole thing although I've followed it since My Gox.  I registered with an exchange and bought $1000 a few weeks ago at around $2200.  It went up to 28 and I took some profit and then it started to drop and I got scared and transferred it to my USD wallet and then bought eth.  And also I bought $50 here and there etc.  Bitcoin started to go up again and I bought back at a bigger price then I sold it for.  Then when it hit $3000 I didn't sell because I thought it was going to keep going up.  It crashed and I sold again.  I was trying to protect my original investment and at the end of the day I have $950 in my fiat wallet.  I added up all the fees etc and I've spent $240 on fees etc!  "Buy low, sell high" was lost in the craziness. Now I"m just waiting before I do anything else. Made a lot of mistakes and I"m wondering what is the way to go and is this an investment or a casino??!!  Any input would be appreciated.  My original goal was to buy 1 coin and keep it and another to trade the market.  Thank you.      

I see that you don`t have any trading strategy at all.
Rule number one is "Never sell when the price does down.Just wait."This is called panic selling and all the traders lose their money when they panic.
If you are complaining about the high fees just stop trading every day.Nowadays all the exchange platforms have transaction fees.
Good luck with trading OP.