Beginner’s Luck | A Cryptocurrency Trading Experiment

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Travesty
The world is unpredictable. Nobody can say for sure what will happen tomorrow. Even sages and savants cannot foretell the future with 100% accuracy; and that is a fact. Personally, I believe that this is God’s domain and rightly so. It’s the stuff that might make for a good novel or maybe even movie material.

It is the same in trading; nobody can tell for certain where the market will go tomorrow. If that’s the case, then they possess valuable information unbeknownst to the public and might very well be charged with insider trading. But this is already material for a future blogpost. What I wanted to focus on was how I started trading on the Hive Engine last month, and the results thereof.


A CRYPTO Trading Experiment

If you have been following my blog, you know that one of my goals was to learn about cryptocurrency trading. So I started to do trading on the HIVE Engine and began to note down results in an Excel file, which I found to be an extremely important tool in tracking my progress and for me to evaluate the results of this experiment. For the first week-and-a-half of trading, I traded the HIVE-LEO pair and traded anywhere from 5 to 50 LEO tokens. I recorded only the completed buy and sell orders and removed “other” trades, such as buying SIM to expand my Dcity and from external exchanges.

Took Profit 100% of the Time Using a Simple Strategy
Using a simple buy-low, sell-high strategy in the second month of November ending on the 16th, I was able to close 7 buy orders and resell the LEO tokens on the market at a slightly higher price 7 out of 7 times, which made me happy. As the main goal was to sell experiment token holdings at a higher price, I am proud to say that I managed to achieve my goal. It did not matter if the profit was only a few cents because the point of the experiment was to find out if I can make a profit from trading using this simple criterion.

For said experiment, I bought LEO Tokens with a cumulative amount 501.83 Hives and netted 19.14 Hives in the process or a 3.87% profit in nine days of trading which was awesome. Call it beginner’s luck. Or intuitive trading. Heck, I’m just glad that I did not lose money out of this experiment.

Anyway, I’m not entirely confident if I can replicate this or if these results are even good because of the very small sample size, but what I wanted to bring out was the possibility to make a profit from trading. Eventually, I plan on building up a reliable system that I can use to make consistent, steady profits in my cryptocurrency trading game, but until then, I will just use this principle.


Conclusion That’s it for now. I know that trading isn’t as simple as I make it out to be in this blog post. I just wanted to share my crypto trading experience and maybe get feedback from those of you who have been doing this for a long time already. As usual, I am open to suggestions and comments on how I can improve my trading.

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On a side note, although the LeoDex is more beautifully designed, I was very comfortable using the native Hive Engine site for my trading. I don’t know, maybe it’s the white that I really like or the old-school web look of the Hive Engine that brings out that nostalgic connection to surfing the internet in the 90s. Who knows… I will surely be trading on LeoDex from time-to-time and maybe post about my experience there also. I do like that it has a lower deposit/withdrawal fee so that’s already a good sign that I will be using it from time to time.

I will end with a quote from George Clason who said:

”In those things toward which we exerted our best endeavors we succeed.”

Thanks for reading up to here; wishing everyone success and abundance.
Keep safe, be well and carpe diem!

@juanvegetarian

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Mabuhay! :)


*Thanks to this beautiful HIVEPH Badge courtesy of @bearone. The other two images, I did on canva.com.

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Trading is a rough game. Very few excel at it but those that do can write their own ticket through life. It matters none the money they start with, successful traders can built if over time.

Good luck in your endeavor. We look forward to reading about your results and experiences. There is a lot of knowledge to be gained.

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I agree that it is a very rough business to be in, with high risks and higher rewards. It would be great if I became successful in doing it because of the pandemic and all the stuff happening around. Being an online endeavor makes it the perfect project for me right now.

I do plan on writing about my trading experiences here and get more feedback from the community. Thanks @taskmaster4450le.

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It is high reward and, if you are successful, it can change your life.

It will be awesome if you pull it off.

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Yeah. It would be great if I do. And the best part about it is that I will be writing about being a successful crypto trader, trading LEO and other HIVE tokens, and posting blogs about it on LeoFinance. haha... That will be a nice success story if it does happen. I'm crossing my fingers on that one. :)

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It certainly can augment your earnings, writing about what you are doing that is.

Many of those who trade end up teaching others. I am not sure if it is a situation where "those who can, do; those who can't, teach". 🤣

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That's the idea: to tell my story and earn from it. I sure hope to earn as much as the best of them while teaching. :)

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Good way to use your time on the platform rather than rely on regular posting for rewards. The longest time I experimented on cryptotrading was using the internal market SBD/STEEM days, then moved to Binance, and now back to HBD/HIVE, and Hive Engine. Most of the concepts learned from trading stocks are still applicable with crypto but you later figure out that most of the competition are bots doing the trades against you.

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It really gives interesting value to the time I spend on it but for me, trading and posting go together. I post when I have time and drive or motivation to write something while trading can be done on the side. Yeah, I recognize those bots. They immediately have a buy order ahead of me when I post the highest buy amount for the time. Sometimes, I just start ordering different amounts with 0.0001 difference just to see if the bot will place an order ahead of me. lol :)

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I look at the spread and then gauge when the bots would set their prices if x amount bid and x amount sell order happens. But it's not really worth stressing about lately. I just moved away from trading actively to position trading because the amount of time computing hourly is not as profitable as when I do something else.

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I think bots are here to stay so I just treat them the same as other traders because at the end of the day, they also place buy/sell orders on the platform.

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Hindi ko muna pinasok ang trading. Medyo mahirap for me atsaka don't have money for that. Anyway, good luck dyan

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Okay lang yan @mrnightmare89. Kanya-kanyang trip lang. Di naman lahat ng tao ay hiyang sa trading. May ibang mas gusto mag invest ng time, effort and money sa pag build ng blog throught posting articles, photos, etc. Baka ito ang para sa iyo. :)

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Thank you for your post. Upvoted and followed. You are a little bit further ahead than I am. The goal you wrote about regarding making small incremental gains is safe and worthwhile, in my opinion.

It reminded me of the Nash Equilibrium. Everyone wants to make that big sell. They will sacrifice it all for the pursuit and attainment of high-wealth above their station. However, I feel this is an irrational behavior given that such achievements have a low probability of success. Every child wishes to be an adult quickly and skips their natural growth towards adulthood.

Perhaps, similarly, we can apply this concept to trading. You want to be rich, but you don't have the funds to get there quickly. You can either risk or sacrifice your livelihood for that slim chance of making that high-sell. You could also take the safer route of buying and selling in increments to streamline your strategy and get to where you want to be anyway. The differences are time, study, and success with lower risks.

Have a great day.

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Thanks for dropping by and the follow @scholaris. I'm just doing what I feel I'm most comfortable with at this time. Since I don't fully understand technical analysis and reading charts, etc. I just make do with what I know.

First time I've heard of the Nash Equilibrium. I will take a look at it for sure. It might be applicable to investing and trading too because, for me, irrational or childish trading decisions make for losses, which is a position nobody wants to be in. I am anticipating that I will suffer losses hopefully while I am trading small amounts (cross my fingers!).

Have a wonderful day to you too! :)

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