The idea was simple; buy $80 worth of sushi or Bitcoin. So, I'm here just starting to day-trade – just for fun, and as a means to educate myself. My target was 4% (minus fees).
So I bought 16 STRAT coins for 0.00111595 Bitcoins each (around $4.02). The idea was to wait until the value of STRAT increased by 4% (to $4.18), which it did today, then convert back to BTC.
Bought 0.00111595 (approximately 4.02)
Sell Order 0.00116132 (approximately 4.18)
The problem is that on Bittrex, I can only trade between Bitcoin and other crypto currencies. Both fluctuate. So while the price of STRAT has increased, the price fluctuation with Bitcoin has cancelled out my profit. Current price is 0.00107882 - (approximately 4.27). And I'm having a nightmare trying to figure out how to make things work.
Suggestions welcome. What am I doing wrong? How do I increase my BTC by 4%?
You are not doing anything wrong.
This is something that you need to deal with every single day if you will start to trade cryptocurrency. it is purely preferential as it makes no difference to your actual profit love you but rather how you view your profit. Simply keep track of everything including your profit and losses in fiat if that's what you feel more comfortable doing.
Alternatively, you can also trade some altcoins for USDT directly(which is pegged to 1 USD) and essentially ignore the BTC pricing altogether.
