Bitcoin Forum

Hi guys , I am new to trading and trying to learn . Just have a quick question , I bought some XMR/BTC for 0.008096 and right after the buy I had $35.10 in XMR value , now the price is lower , 0.007960 and it says my value is 36.39 in for XMR , how is that possible ? What am I missing ? Thanks a lot !

It correlates with the current BTC price (USD).

The BTC price quite started to increase recently up to now. That's the reason the USD value of your XMR slightly increase even the BTC value of it decreases a bit.

Same as said above it do correlates with Bitcoins price thats why you are seeing much more value on usd terms yet the price is increasing on btc.
You might see it do have lesser value compare into the amount you actually purchased  and this is the beauty on holding up btc.

So how do I know how much is my gain or loss if the price of "XMR"  goes up but Btc goes down? I mean how to check when to sell ? Thanks

Same thing would happen if XMR value goes up but btc is down then expect for its usd value to go down.It do also happen on reverse way.Checking on when to sell?

It'll depend on what you are trying to accumulate either pure XMR or pure satoshis.

Don't depend on its USD price.

You bought your XMR in BTC value so sell it above your buying price in BTC.

The goal here is to increase your BTC holdings whatever the pair is.

I get it now , thanks a lot !

One problem when you keep on converting with USD.

You are using BTC per XMR right?
 Why not look at the price of BTC from the day you bought your XMR then go back to this moment.

That is the thing when you are holding 2 kinds of crypto. Plus you converted it with USD too, the day you bought it. Try and calculate. ;D

Thanks for the reply . So.....the ultimate goal is to make money , in that case isn't it the safest way to trade against USDT ? Isn't that the most stable one on Binance? Thanks

Isn't it the purpose why we trade? lol

Anyways, yes others putting their funds to USDT to avoid volatility much and will just execute orders to BTC when necessary. It also depends on the current trend.

This is a long way to go. You might have to test lots of strategies along the way and see what giving you a good output in the long run.

You buy XMR at BTC prices, so you should always see your XMR prices at BTC prices instead of FIAT prices, because when BTC goes up or down altcoin like XMR will experience a correction, so the alt / btc price will go down, whereas in your case why the Fiat price not go down because the price of BTC is going up.

It is how you want it. Profit in USD or profit in Bitcoin.

Some does this just so to accumulate more bitcoin. Some does for quick withdrawal into cash.
If you want to earn more XMR then look at the trade in USD or BTC. If you think it is higher than how much you bought it then it is good sell already.
But also consider the market. Where could it be going? Try to analyze all of that for a better trade.

That's mean you are making a profit for $1.29 in the dollar, but in bitcoin, you lose 0,000136. If you want to make a profit in the dollar, then you can sell it right now. But if you want to make a profit in bitcoin, then you need to wait until the price can reach more than the price you bought. It is your call now, but I hope you can wait for a while and still hold the XMR. At least, XMR can be back to 0.01 btc per XMR so you can make a profit in bitcoin plus you can hope bitcoin price can increase so you can make a double profit.

I guess you had fees deducted from your XMR. The deducted fees is little, so it's impact on your fund is insignificant.

As regards the increase in the dollar value of the coin, it could be as a result of the increase in price of the Cryptocurrency. .

Thanks for everyone for their knowledge , you guys are great . I have been trading for few weeks and so far made money on most of my trades and have more than I started with .
I just have one more question that I don't understand fully . All the experienced guys say NOT to trade much , especially in the beginning , they say one or two trades every 1-2 days. Now my question is , isn't it safer and easier to make few trades a with a lot less profit than hope for 2-5 % in a day or two on just one trade ? I know I am probably wrong , but just wondering why , seems like its a lot easier for me to make 0.2-0.5 % on a trade than hope for a lot more on one trade. Thanks again !

Honestly, that depends on how far your strategy will give you profits.

That advice was meant for newbies not to take trading too much at their early phase to avoid an early loss. Since newbies are still on the learning period, the goal is to learn how to make a trading strategy first rather than targeting profits quickly.

If you think you can follow your plan properly, given you now have a strategy on how to deal on it, then just proceed. It's on your own hands how to make your trading goals success in the long run.