So... As the title says, this is about the first time i traded a crypto in an exchange. Now keep in mind this is still a learning process for me. And its not my first purchase of coins.. But first time i was trying to trade.
It is on yobit.net.. Which i have no issue with.. i had been on there for a few weeks just getting a few free coins from their faucet. I decided to transfer small amount of btc to play with there. Just 0.003 btc. In the chat, people are constantly talking about the coin they purchased or what have you. I had asked for some advice and no one answered, once. Then some one was predicting a coin.. LUCKY COIN.. To be exact. I sent them a message asking why that coin.. And they responded!!! Yay!!!!! He PM'd me back and gave a little advice even suggested a sell price, like that was where he was gonna sell too.. So i bought in. Not much.. Just 0.001 btc... I felt excited... I had a friend who was looking out for a fellow cryprocurrency enthusiast........... NOPE!!!!!!! I notice..... The same 3 people chanting about it in broken english.. Then i notice the trading history... It is continously being traded for the same amout every 3-4 seconds... And the price.... It would raise to just where i bought in and then there would be a huge sale or deposit into the the total amount available and the sell price would drop again... I asked advice from my "buddy"... And guess what he said... Nothing.. Not a damn response.. Then.... Ohhhhhhhhh.... Then.... Some other random person asked advice in the chat... And lo and behold... What do i see?!?!?!? The exact email that was sent to me was in the chat directed to this new person..i started putting 2 and 2 together and before i lost any more i sold... But.. I think 0.0005 btc isnt that bad of a price for the lessoned learned. Happy trading!!!!!!!!!!!