CRYPTO TRADING 101 [Learning Trading with hive-engine.com Tokens]
I have always wanted to trade crypto and of course, I have sold lots of coins before but I have never deemed it fit to try trading. Hey mate, don't be confused, trading goes beyond selling alone.
Well, let me explain to the best of my knowledge. Trading in simple terms is buying and selling goods/services to make a profit. Selling is majorly just one part of a trade.
Well, not to give a lecture, I ventured into the hive-engine to check the price of sports tokens which by the way remains incredibly low. I have no idea what advice to give to the sports creator to boost the price of sports. Maybe halving of the tokens will be much more appreciated.
It was while I was browsing through the market's prices of some tokens that the CTP price cut my eyes. There was an over 21 % decrease in the price. I browse through the sell and buy order list and I noticed the huge price disparity.
I checked the sell order and saw the first sell order of 783 CTP @ 0.05300 hive while the next one that followed it was 0.0608. I then decided to check the trade history and the rate at which the coin was traded was satisfactory to me.
I decided to buy the 783 CTP token at 0.05300 which costs me 41 hive.
Then almost immediately, I set a sell order of the tokens I bought at the rate of 0.06079 for 800 CTP tokens and that will yield a return of 48 hive. Meaning I will be making a 7 hive profit.
I know 7 hive isn't a big deal but if the CTP coin I bought was 10,000 CTP @ 0.0530 which will cost 530 hive and I placed it on sells order at 0.06079 then I will be making 607.9 which will result in me making over 80 hive as profit.
This simple calculation further enlightened me that crypto traders make their profit from trading huge quantity and that's one reason they never stop buying.
Well, this is me trying my hands on trading. I will practice more and see if I am ready for the bigger market.
All other images were screenshot made from my account on the hive-engine.com market section
Posted Using LeoFinance Beta
You know what?
Just yesterday I was talking to my mate on how to get some 1up tokens for myself, and he was saying the same thing.
Was gonna trade BCH for it but the pairs were not available, I had to get ETH Or BTC and that wasn't at hand. Trading BCH for BTC or ETH first would really cost me a lot right from the fees my wallet will charge to transfer coins to the exchange and the trading BCH for ETH or BTC will cost me extra even before placing my orders for some 1up tokens.
Well I'd just say we had a long late night talk on trading, and at some point I derived one thing which was the statics of making profits.
Really on to read more about trading and see where it goes.
Posted Using LeoFinance Beta
Conversion fees between different blockchain currency might take a lot but I believe using Binance will make your work lot easier.
1up seems like a good token to invest in and save for the future. The staking part of 1up makes it even more attractive to buy. I bought 16k 1up token but sold 14k as I needed money urgently. I will be keeping the 2k till it's price attain 1 dollar
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Yes, 1up is promising, it's OK to sell tho it's yours so you choose what happens. We Uptrenndians can't just wait to hit that price :)
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Thanks for your input
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I think you made a mistake with the name. This post was written by me @lebey1. look into that
https://twitter.com/abiodunadeosu19/status/1334875976002658305
One thing I hate in Hive-Engine is it low liquidity in it. I hope you will be able to book profit.
PS: CTP is nice community to hang on and engage, You can get nice amount of CTP by engaging in CTP community.
Posted Using LeoFinance Beta
I love the CTP community because they engage a lot on my post and they even advise me when I am going astray. Leo community also fix that issues too, so it's nice to see engagements in communities.
I think about the liquidity aspect of hive-engine, I think most people are just generally afraid to input liquid on some tokens but that could be rectified with minting little tokens and making sure a certain percentage is been burned from the reward pool of all authors
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Buy low, Sell high!
You make trading sound easy with those lines? .. I am not a trader but I have a feeling that a lot of markets and outside factor could deter you from selling high
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It is not as easy as it sounds, but it is just that easy! Selling high is not even the hardest part, as you identify here in this post, Buying Low is the more important of the two, and requires a bit of discernment.
That's true. I didn't even notice that the post pointed toward that direction. More reason why I would love you to engage more in my post. So I could learn more from post even written by me
Nice scalp :)
Posted Using LeoFinance Beta
Thank you
Posted Using LeoFinance Beta
I am doing some trading on Engine too since last August. I did some nice profits buying low and ordering a sell high. I left it and automatically it got sold. But just some little amount of HIVE.
That's nice . trading on the sports engine might be slow but of course you could make huge sales
Posted Using LeoFinance Beta
Yes, just be patient!