So after doing a TON of research I rearranged my schedule and decided to try my hand at day trading.
I decided to start off really small, so I only put in .02 BTC to see where I can go with it.
I've been using only cryptopia.
After three days...I'm up to .0338711 BTC! Wao! I'm a rich man! lol...
I was pleasantly surprised that a simple strategy brought steady gains.
I spent a lot of time trying to figure out indicators of coins that were about to be pumped. I looked at trade volume, spikes in value, market cap, buy/sell order history, etc.
I am going about this very cautiously, so when I felt like a coin was about to or in the beginning to middle stages of being pumped, I would buy it, and right away put in a sell order that was slightly higher for a small gain. I tried my best to not put in too much and resell for a lot higher and the result was steady (but tiny gains). As I get comfortable with this I will probably try larger investments.
I know I'm very amateurish but it feels good to get better at something yeah?
Anyone had similar experiences in day trading?
Actually, that's better than day-trading. Putting your coins in sell orders doesn't necessarily mean that you are doing a daytrading, especially that you are setting an specific price for your coins being put in sell order. That's not a long term investment, but I don't also consider that as daytrading. You're actually waiting for days or weeks (like in your case, you were able to sold the coins after 3 days) before you were able to sell it in a specific price.I decided to start off really small, so I only put in .02 BTC to see where I can go with it.
I've been using only cryptopia.
After three days...I'm up to .0338711 BTC! Wao! I'm a rich man! lol...
I was pleasantly surprised that a simple strategy brought steady gains.
I spent a lot of time trying to figure out indicators of coins that were about to be pumped. I looked at trade volume, spikes in value, market cap, buy/sell order history, etc.
I am going about this very cautiously, so when I felt like a coin was about to or in the beginning to middle stages of being pumped, I would buy it, and right away put in a sell order that was slightly higher for a small gain. I tried my best to not put in too much and resell for a lot higher and the result was steady (but tiny gains). As I get comfortable with this I will probably try larger investments.
I know I'm very amateurish but it feels good to get better at something yeah?
Anyone had similar experiences in day trading?
It seems that your strategy was nice, and I would like to congratulate you for being successful in your first take in crypto-trading.
