So the other day, I had some extra money laying around so I decided to try my hand at day-trading some crypto. I decided to use Binance for the lower fees than say Coinbase (plus an extra 25% discount if you use BNB coins). I deposited my money and began scouting out the market. I decided to buy Ethereum to trade. I bought $103.37 (0.2234) of ETH. I then set a limit sell order for a few dollars higher and I waited. About 4 minutes later, the order executed and I was up to $104.89. A nice $1.52 profit. Not bad for just starting and only having a small initial investment.
Onto the next order. I then bought $104.88 (0.21668) of ETH. I was becoming skeptical of ETH's upward movement so I set a limit order just far enough from the trading price to secure a small profit. The order executed and I sold my ETH for $105.09. A small $0.21 gain.
I know its not much, but I'm new to daytrading crypto. I've had some decent experience trading on the stock market so I'm a firm believer that small gains are better than no gains. As I make more and more, my trades will become bigger and thus securing more profit (or more loss). It's a process tht I have only just begun.
Below is a screenshot of the trades described here:
Use my Coinbase link and we'll both receive $10 in free crypto when you create an account and make a purchase of $100 or more!
Use my Binance link to get started on one of the most popular and easy to use cryptocurrency exchanges out there!