Can A Rookie Trader Make $1000 USDT On Stormgain In Just 30 Days?
Can a rookie crypto trader actually make a $1000 USDT profit in one month of trading on the Stormgain trading platform?
I have no idea if it’s possible, but that’s what I’m trying to do in January 2021!
Trading with the Demo Account on Stormgain
For the purposes of this January 2021 challenge, I will use Stormgain’s demo account.
When you open an account with Stormgain they give you a dummy $50,000 USDT demo trading trading account so you can learn the ropes without risking your own capital.
I talk about that in this video:
they give you a $50,000 USDT demo trading account so you can learn the ropes wthout risking your own capital.
How Not To Make Money On Stormgain!
In my case, I went straight in with a small amount of BTC and traded it for XRP (Ripple).
The very next day the news broke that the SEC was prosecuting Ripple! The price plunged and I spent the next couple of days trying to earn extra XRP by shorting the market.
It seemed to work. I was actually in the money by about $25.
Then I got over confident and decided to cash out of XRP while I was ahead and try some Bitcoin trades. Wow! The speed and volatility, compared to trading XRP was a real eye-opener, and the trades were not necessarily in my favour!
In short, over a period of about a week I managed to trade away my profit and my initial $165 deposit went right down to zero after reaching a high of $185.
Learning To Trade Properly
Obviously, I need to learn how to trade properly! So that is the purpose of this challenge – to see if I can learn how to trade profitably in just 30 days during the course of January 2021.
Come along for the ride as I try to learn how to trade my way to a profit!
If you are an experienced trader, any advice would be welcome. Let me know where I’m going wrong, or post some tips in the comments below.
Check out Stormgain at: https://fwd.cx/WmUzkey5BqVp
Looking for a safer way to accumulate and store bitcoin?
This is what I use: https://freebitco.in/?r=37315680
David Hurley
A version of this post was originally published on my blog at https://davidhurley.net/can-a-rookie-trader-make-1000-usdt-on-stormgain-in-just-30-days/
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Good luck! A month should be a good period to try it out.
Thanks @invest4free !
Every day I get new ideas and insights about how to trade. Lots of questions which I hope this month of practice will help answer, while undoubtedly raising new questions!
You never invest in Ripple. hehe. But thanks for the article, maybe I'll try it out!
Funny thing is, XRP was not my downfall. Once I realized what was happening, it was easy enough to short the highs and even to make back a bit on the lows (as Ripple seems to have a lot of fans)... With my small trades, it was the massive volatility of BTC that did for me.
But right, I don't think I'd be buying and holding Ripple right now!