Honestly, I didn't even own any bitcoin when I first opened my steemit account. After I made a few hundred dollars blogging, I decided to get some bitcoin and then ended up investing in a few altcoins on Poloniex. I even tried my hand at some margin trading and my account has grown a little over the last 2 months.
I have seen many interesting things happen in that short time. Most recently Zcash coming on to the market and hitting a high in value momentarily of 2600 BTC!!! Last I checked it was down to about 1 BTC. But, my point is that you see these wild swings in altcoins and the fees are so cheap that someone like me, a micro investor, can actually make a profit if you manage to make the right moves.
My experience trading has been very minimal. I've owned just a few stocks after doing tons of research into companies and their stock charts and plans and finances. The most recent investment I am excited about is Steem! I am sure most of you feel this way, as has been the only crypto that I have actually used so far, not only to obtain bitcoin, but to easily transfer to people without any fees! I also consider it my number one investment as I also see many steemians deciding that it is time to buy Steem now as the market cap for Steemit Inc. is down to a more reasonable valuation.
image from pixabay + steem image on pixlr.com/editor/ and then uploaded it to dirtyimg.com, feel free to use it
Tips that have helped me so far in trading cryptos
- Be quick to take a small loss if you realize the move isn't starting like you thought it might.
- that being said, don't be emotional when making decision, analyze your trades enough that you feel you are making a reasonable decision that you are confident in, but don't forget tip number one
- Pay attention to lines of resistance and support and look for trends like 3 higher lows
- Most recently I've benefited from being in bitcoin for its upward move and then getting in altcoins immediately after when they are low. A day like today can pay off for the altcoins.
These are tips that I have heard along the way and put my own spin on them. I am by no means an expert, but my goal is to keep learning and sharing my experience. I am not giving any advice here or making any recommendations. Trade at your own risk. My personal decision is to invest in Steem and thats why this post is a: