I tried trading exclusively from my phone for 18 hours. Here's what I found.

I tried trading exclusively from my phone for 18 hours. Here's what I found.

By MadMaxx | Psycho Crypto | 1 Mar 2020


And the 18 hour challenges are back!

If you've been an avid follower of this blog, you'd know that I used to do 18 hour challenges.

Some were fun, some were wacky and some were downright dangerous.

You can go through my blog to find out the other challenges I did.

I stopped doing these challenges for a while, because I couldn't really come up with anything fun anymore, and I didn't want to post boring challenges here.

But the day before yesterday, I had a bright idea. Why don't I trade exclusively in my phone to see if it's possible?

And yesterday, I did just that.

And here are the results!

I used the Binance mobile app to complete this challenge. It is possibly one of, if not the most powerful trading app on mobile. You get 6 of the best indicators(in my opinion) and although you can't draw trend lines, really think of how awkward it would be if you could.

The apps are designed to be a supplement to your desktop trading escapades. So you can execute your already planned positions on the go.

Well, I decided to turn a supplement into the main medicine, and I traded on my phone for 18 straight hours.

I traded the WABI/ETH pair throughout this period. It's not like I know the coin or anything. It just ranges very good, so I thought it'd be great for the challenge. Plus, all the major coins are down anyway.

The app is really simple to use, although I kept on making one big error.

The only way to see the chart from the menu is pressing on either of the "buy" or "sell" buttons below the menu. This is a very big mistake.

Because of this, I usually just pressed any button, regardless of what it said. And then I forgot to change the value of the button back, so I mostly ended up selling when I wanted to buy. As usual, I mostly sold at prices lower than I bought, because I wanted to buy at a lower price.

Other than that, it was a very great experience, as WABI moved 20% that day! I made 20% on a $50 investment, which was a very decent amount for trading on my phone.

While there are certainly limitations to trading on your phone, it is doable, and you might even enjoy it.

Just make sure you don't make the same mistakes that I did.

Thanks for reading!

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MadMaxx
MadMaxx

In the eternal quest for crypto fulfilment. I'm an obese frog on the internet, what I say most definitely isn't financial advice.


Psycho Crypto
Psycho Crypto

Fun experiments with crypto!

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