Hello followers! I have been trading for about a week on HitBTC, so I thought I would do a quick summary post on where I'm at.
To recap, my overall goal is to go from absolute $0, not put a single penny into crypto, and grind away trying to raise my balance. In order to start out, I used MinerGate to mine just enough DASHCoin to begin trading with (which would be 1 DASHCoin lol).
My trading strategy is pretty basic at the moment. The jist of it is that I will never take a loss on a trade. I hope to not have any open orders overnight, but if I need to, I'll hold for hours/days/weeks until the price goes up to a profit. That said, I'm not shooting for large gains on every trade. I'm trying to scalp just a bit of profit on all my trades, for example 0.00000005 to 0.00000030 BTC in price.
To give myself a baseline, I sold my 1 DASHCoin for 0.00000520 BTC. Next, I bought and sold DSH a couple more times to get some practice in.
I bought 1 DSH for 0.00000490 BTC, then sold it for 0.00000510 (a 1% gain).
Next, I bought 1 DSH again, but for 0.00000480 and sold it back for 0.00000500 (Another 1% gain).
After getting that practice in, I started to look around a bit for other currencies I can trade with. With such a small balance, at times I don't have enough for a minimum order :( But, I was able to find STEEM!! I had a couple of good trades on there :) I'm not able to trade a full STEEM, but I do have enough to buy the minimum, which is 0.001.
So, my next trade cost me 0.00000474, which I sold for 0.00000504 (still a 1% gain).
After that, my next trade cost me 0.00000448, which I sold for 0.00000520 (a 1% gain).
I did get back into STEEM a final time when the price was at 0.00097000BTC (which cost me 0.00000582). The price dropped down, and has stayed down :( But, I will hold until it pops back up! I have an open sell order priced at 0.00120000.
One thing to note is that with such a small balance, the fee is basically .00000001. As my account grows, I'll be keeping a closer eye on this :)
Well, that's it for this week. I know it doesn't seem like a lot, but I'm inching my balance up little by little. Once it grows, I'm hoping it will gain more and more momentum like a snowball. There was probably a bit more detail in there than people would be interested in, so I might shorten it in the future. Let me know what you guys think!
