Hello and Namaste Everyone,
I believe in learning and I try to keep on exploring new things whenever it is possible for me. Today I am going to talk about a recent trade that I have done and I want to make it clear that I'm not a trader. To be honest I don't know how to do trading better but I just tried to learn some ways of trading through Youtube videos. I have been trying to watch some videos related to crypto trading but never thought of doing the real trade in exchange. I have an account but rarely use it because neither I trade nor sell, so it's like an inactive account for a long time. Even I had to verify myself to access the account as it was not used for a long time.
Last week, we saw how the price of high was increased. I thought why not, I should take a trade to see how it works. I have a liquid hive in my wallet so moved a 2000 hive out of liquid balance to exchange wallet. This trade was planned to sell hive at a high price and buy back at a low. This price was increased on 26th September and luckily I saw this. Normally I don't track hive prices but good that I did it on 16th Sep.
Now hive is moved to my wallet which is an easy process. I don't want to sell the hive to book profit and I wanted to do this trade for 2000 hive first and later move funds to my wallet, but I changed my mind. I thought that I should start with 1000 hive coins only and this is a good amount to start with.
I sold 1000 at the current market price and it was sold at $0.2328 price. I selected the market option so that I do need not to wait for order fulfillment. The order was fulfilled instantly and ow it was time for me to place a buy bid. I placed a buying order for all the USDT that I got through this sale. I chose a buying price of 10% less than the sale price and I was expecting that this would happen in a few days. It's because there is nothing unusual in hive trading volume so higher chances of price correction.
It took 3 days and my buying order was filled at my price. I am happy that this way I could add more hive to my balance and that also in just 3 days. It's great to earn 10% more hive in just 3 days. I was planning to do this for many months but I did not and finally I did it. Maybe next time I can try with a higher amount but can't say as of now.
Now the price is even low so I could have got more than 10% but I was trying not to be greedy. I think that 10% is a decent amount that I can look for in any price pump. If I increase then I may get some extra points but it will also increase the risk of buying. I don't want to be in that spot and this is why I did it with just 10% which I think is good enough for me and I will follow the same in future trades also.
This was a good experience but I know that it just happened and I'm still figuring out how I can make it even better. Now onwards I will try to track the prices for high so when I see a price increase of more than 15% or maybe 20% then I can think of using this ten percent strategy with my trades. Obviously, there are always chances to lose so I'm ready for that also because I'm doing it with a small amount so if I earn something it's good but if I lose then it is fine. Being a new person in trading, it's highly important to play safe in the market and I am trying to follow the same. Any suggestions are most welcome and hope I can improve it
Thank you so much
Stay Safe
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