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Title: I am a newbie to selling, can somebody please explain this? Post by: quickie69 on February 25, 2018, 08:22:24 PM So two days ago, I bought $198 worth of VEN when it was priced at $5.52. VEN Is $5.85 right now so on my Blockfolio app, it says I have profited $10.02. However, this makes no sense to me because when I go on Binance right now and check, I can only sell for 0.02027652 BTC (100% sell), which is equivaent to $192 right now at this moment. So if it's a 6 dollar loss so far when I sell now (Obviously I'm not going to sell, I'm just saying), why is Blockfolio saying I have profited $10? Does not make sense. Maybe I'm just too stupid to understand how all of this works ??? Can someone please explain to me as if I'm in 5th grade?
Title: Re: I am a newbie to selling, can somebody please explain this? Post by: chukaday on February 25, 2018, 08:34:11 PM Because in that same time span it means that bitcoin has gone up more than roughly the 5% that you gained in VEN. If that happens, you will be up in USD but down in terms of satoshi or sats for short. This is why some people like to hodl BTC rather than trade it because it is easier and gives peace of mind.
Title: Re: I am a newbie to selling, can somebody please explain this? Post by: quickie69 on February 25, 2018, 08:37:34 PM Because in that same time span it means that bitcoin has gone up more than roughly the 5% that you gained in VEN. If that happens, you will be up in USD but down in terms of satoshi or sats for short. This is why some people like to hodl BTC rather than trade it because it is easier and gives peace of mind. So I should sell when the value in terms of satoshi is UP, correct? USD doesn't matter? Title: Re: I am a newbie to selling, can somebody please explain this? Post by: noloco on February 25, 2018, 10:00:21 PM Take into account some trading fees for buying, selling, depositing and withdrawing... Making money cost money...
Title: Re: I am a newbie to selling, can somebody please explain this? Post by: mrbnson on February 25, 2018, 10:55:57 PM So two days ago, I bought $198 worth of VEN when it was priced at $5.52. VEN Is $5.85 right now so on my Blockfolio app, it says I have profited $10.02. However, this makes no sense to me because when I go on Binance right now and check, I can only sell for 0.02027652 BTC (100% sell), which is equivaent to $192 right now at this moment. So if it's a 6 dollar loss so far when I sell now (Obviously I'm not going to sell, I'm just saying), why is Blockfolio saying I have profited $10? Does not make sense. Maybe I'm just too stupid to understand how all of this works ??? Can someone please explain to me as if I'm in 5th grade? It doesn't make sense, if the USD price has gone up then you should have profited (assuming it's gone up more than fees). One thing I could think is if there are different price across exchanges and so blockfolio price isn't the same as binance price. Did you definitely buy it at $5.52? That should mean you now have about 36 VEN correct? Title: Re: I am a newbie to selling, can somebody please explain this? Post by: Jaycee99 on February 25, 2018, 11:53:21 PM Because in that same time span it means that bitcoin has gone up more than roughly the 5% that you gained in VEN. If that happens, you will be up in USD but down in terms of satoshi or sats for short. This is why some people like to hodl BTC rather than trade it because it is easier and gives peace of mind. So I should sell when the value in terms of satoshi is UP, correct? USD doesn't matter? For my opinion USD still mattters because in the last trading process, it is important for me and if your local country money is USD. Also yes when it rise you go sell it and enjoy your profits its like this sell high buy low HERE I WILL GET YOUR VIEW IN A PROCUCT IN A BUY AND SELL PROCESS like buying products in a small about of price and selling them on high price (right price to be exact). A quick note that you should study it too and base on the replies you got here because its good to learn for you to know the right decision even its good to get opinions from people here for you to know what you should do. Title: Re: I am a newbie to selling, can somebody please explain this? Post by: HPC1984 on February 26, 2018, 04:20:02 AM It depends on how you view it.
If you're up in USD, you could sell. However, most people want to be up in BTC because if you sell for less BTC than you started, you would've been better off just keeping BTC and not trading it for something else. Title: Re: I am a newbie to selling, can somebody please explain this? Post by: rommelzkie on February 26, 2018, 05:39:06 AM So two days ago, I bought $198 worth of VEN when it was priced at $5.52. VEN Is $5.85 right now so on my Blockfolio app, it says I have profited $10.02. However, this makes no sense to me because when I go on Binance right now and check, I can only sell for 0.02027652 BTC (100% sell), which is equivaent to $192 right now at this moment. So if it's a 6 dollar loss so far when I sell now (Obviously I'm not going to sell, I'm just saying), why is Blockfolio saying I have profited $10? Does not make sense. Maybe I'm just too stupid to understand how all of this works ??? Can someone please explain to me as if I'm in 5th grade? You need to trade directly USD to Crypto Pairs if you want to see your gain in USD. If you are trading on BTC pairs your gain depends on BTC/USD. So if your position is currently gainbut the BTC went down. your gain will be affected and you will encounter loss to that. Title: Re: I am a newbie to selling, can somebody please explain this? Post by: SheepSuit on February 26, 2018, 06:07:05 AM You also need to keep in mind that different exchanges may have different prices. So make sure you set your app to the right exchange
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