Hey all!
So ive googled my butt off and watched tons of videos and i know the mechaincs of it... i even did it... but i went wrong somewhere and im trying to see where i messed up. Ill use random numbers but youll get the idea. heres what i did:
i had 800 xrp on gatehub which was trading at around .95usd at the time
on binance XRP was trading at the time at around 1.12usd
i transfer my 800 to binance and sold at 1.12 for around 928usd (in ethereum) which came out to like 1.31 eth at the time
i then sent the 1.31 eth to gatehub wallet so that i would be able to rebuy the xrp at .95 and the math should have worked out like this:
928usd(eth) X .95xrp which should have given me 976 xrp EXCEPT IT DIDNT!! i got 796 xrp! i lost 4 xrp in the trade and the fees werent tht hard...
so where did i go wrong? all help is appreciated it. id like to offer reward for anyone who gets me on the the right track and gets me amking money every trade!
thanks!
Okay firstly you're mixing up your pricings in terms of usd/eth so that's one possible area where things could have gone wrong. The eth/usd price could have changed. If you're aiming to trade eth/xrp then you should only consider this price, not the usd(t)/xrp price. Secondly are you sure that fees didn't eat up a lot of it? Firstly trade fees and secondly fees to send money back and forth a few times?