OOPS I did it again, I played with my coins, got lost in the game. I thought a big dropper would be interesting....but I overlooked one fact......
If the coin is expensive and I can only buy 4.5 coins the profits, even though it´s 44 cents per coin after 2 days, still adds up to $2.10 only. While I invested $27 Dollar.
Now in my simple mind the question raises:
Is that worth it?
Because if you buy a 1000 cheap coins that go up 1 cent, you just made $10.
As I am trading on a budget I am truly wondering if my way of thinking makes sense.
Because maybe I am bias and it´s triggered by the fact I made most profits (so far) of the coins that are worth less than $0,05.
And lost mainly on the more expensive coins e.g. NEO & ZEC. This can be pure coincidence, or is there something to it?
Which brings me to the next question how much should I make on a sell? Should I aim for a standard, say 10%....or should you follow the market and sell before they drop....or right after the initial drop?
Right now I do the aim on 10% and sell with any type of profit if it takes to long. But what I noticed is that this young grasshopper still needs to learn the true meaning of patience.
I did it again part 2
I got so lost in the game and in the playing with my coins that I added an other $122 to my trading account. And again I had to pay the price for doing so.
As I am a tiny bit wiser I checked the worth of that amount of BTC I received (0.00376777 BTC) right away and it added up to 108 dollar. So now I know who get really rich from trading. The people turning your hard earned analog coins into zero´s & ones.
Well there´s only one to blame here and that´s me🤔. As I clicked the fast VISA option, instead of checking out the the actual prizes.
So if you are not in a hurry to get your money in the exchange, I advise to use the Paxful, Pay Pal or Bank Transfer option. That will easily save 10 dollars in fees.
But this Bitcoin Baby is here to learn so you don´t have to. And I unfortunately only learn the hard-way.
Invest Little Learn Lots (ILLL)
One more lesson learned (the hard-way) is invest a little to learn a lot. Don´t jump from coin to coin, but study the coin.
And I do not mean read Reddit & watch YouTube, but buy a little add it to your favorites....sell some ....buy some more and see how it behaves.
I noticed that most coins have a different behavioral pattern. They are like children and the better you know your kids, the better you can manipulate them into doing what you want them to do😋
I´ll be back soon with more Noob News and an update on if my first month on planet Crypto ended Green or Red.....
I fried the fish and left the paper here for you to enjoy.
Day 5 - Check the coins before you wreck your coins
Start from Day 1
Or start reading about my crypto experience from day 1
Day 1 - Welcome to Crypro
Thank you for reading & Thankful for any comments, Tips & Tricks.