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Day trading will be profitable if you can trade. Profits or not it depends on how your expertise and knowledge in trading. To make it easier for you to not have to do technical analysis, I suggest you try arbitrage trading. Arbitrage requires you to do a fee simulation and calculate the profit value, this will increase your knowledge of the exchange platform and market volume.
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I have a question , can you please help me out .....I am just wondering , how do people make money on arbitrage when it looks to me at least , that the difference in price on 2 different markets is usually about the same as trading fee ...how do you make money then ? Thanks a Lot !
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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 !
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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.  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 |
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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. 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 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 ! |
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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. 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 |
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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 !
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