Post
Topic
Board Trading Discussion
Re: How can I avoid making this trading mistake? It's giving me a headache
by
leavolnhals
on 03/04/2018, 07:58:49 UTC
So I bought 10k worth of ETH because I wanted to begin swing trading with 10K for potential solid profits via swing trades. However, I had to wait a damn week on Coinbase to receive it. However, by the time I had finally received it, the value of ETH has gone down so I only got around $9,700. So basically from there on, Im down 300 dollars, which only left me with $9,700 to begin swing trading with. So let's say I dump all the $9,700 into an alt coin for a swing trade. So in this situation, I'm already down $300. I am not happy. Let's say hypothetically, the alt coin I want to swing trade is priced at 45 cents. If the coin goes up to 47 cents and sell, I would have made $431 in profit, but if you actually think about, I would only actually make barely over $100 in profit since I've spent $10,000 worth of ETH in the very first place and value of ETH had gone down.  Huh Huh
It seems coinbase has not worked well. You can put your money on trading platform Binance, Bittrex or Hitbtc to trade faster.
You are a very quick and intelligent calculator but you are wrongly investing in altcoin. $ 10k for profit every day then you should invest in bitcoin or when the market is going down. Any altcoin can provide you with a profit of $ 500 a day as long as you invest in the right time. Your problem is time and I have introduced you to the better trading floor. Hope you will not have trouble again.  Wink