Amateur trader question. Unintended gains?

[DrBitcoin]

I’m an amateur trader. Very amateur!
I started with .30 BTC in an attempt to increase my sats.
My goal was to trade back and forth between BTC and BCH and only let trades sit for a few minutes.

So I atarted with .30BTC which my first trade equaled 1.67BCH
Slowly my sat value increased until I traded enough times from .30 up to .34500 roughly.
Then...I set a BCH limit order over nigh and it triggered.
Now I have 2.30 BCH up from 1.67BCH...but I’m watching my sat value fall.

So my BCH grew from 1.67–> 2.30
And my BTC value grew from .30 —> .345

But I’m sitting on the 2.30 BCH watching my sat value fall. It’s currently at .329BTC

SO...do I just keep my 2.30BCH and hope the sat value goes back up? Is this technically a victory even if the sat value continues to fall? Am I making ANY sense?

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[ShadowBits]

I’m an amateur trader. Very amateur!
I started with .30 BTC in an attempt to increase my sats.
My goal was to trade back and forth between BTC and BCH and only let trades sit for a few minutes.

So I atarted with .30BTC which my first trade equaled 1.67BCH
Slowly my sat value increased until I traded enough times from .30 up to .34500 roughly.
Then...I set a BCH limit order over nigh and it triggered.
Now I have 2.30 BCH up from 1.67BCH...but I’m watching my sat value fall.

So my BCH grew from 1.67–> 2.30
And my BTC value grew from .30 —> .345

But I’m sitting on the 2.30 BCH watching my sat value fall. It’s currently at .329BTC

SO...do I just keep my 2.30BCH and hope the sat value goes back up? Is this technically a victory even if the sat value continues to fall? Am I making ANY sense?

You should always put stop-loss. I recommend you to sell when everything is still small. The biggest enemy on your trading is also yourself.

[DrBitcoin]

I broke my original rule of short trades. I set that limit order and was delighted to see that I snagged 2.30 BCH, but didn’t want to take the small sat loss so I let the funds linger. Slowly watching the sat fall.

[DrBitcoin]

I’m an amateur trader. Very amateur!
I started with .30 BTC in an attempt to increase my sats.
My goal was to trade back and forth between BTC and BCH and only let trades sit for a few minutes.

So I atarted with .30BTC which my first trade equaled 1.67BCH
Slowly my sat value increased until I traded enough times from .30 up to .34500 roughly.
Then...I set a BCH limit order over nigh and it triggered.
Now I have 2.30 BCH up from 1.67BCH...but I’m watching my sat value fall.

So my BCH grew from 1.67–> 2.30
And my BTC value grew from .30 —> .345

But I’m sitting on the 2.30 BCH watching my sat value fall. It’s currently at .329BTC

SO...do I just keep my 2.30BCH and hope the sat value goes back up? Is this technically a victory even if the sat value continues to fall? Am I making ANY sense?

You should always put stop-loss. I recommend you to sell when everything is still small. The biggest enemy on your trading is also yourself.

I’m currently trading on a major exchange, I don’t see option for stop losses.

[DrBitcoin]

Also...I technically started with 1.67 BCH which I used as my initial investment. So...even if I stop
Now I’ve turned that 1.67 into 2.30. My original goal was sat gains...which I’m watching dwindle...but no matter what didn’t I technically solidify gains?

[BTCHadzija]

That all depends on what you consider a good measure of your profits

some use dollars, some use BTC (sats) - because out of all the cryptocurrencies BTC is the most secure asset for a lot of people.

Unless you believe that BCH is guaranteed to gain more worth percfentage-wise in the distant future then it's not a good measure of success in your trades.


Think of it this way - somebody bought 10 bitconnect coins when it was worth 100$, and trading it back and forth until he held 20 bitconnect coins - that project ended up being a scam and they're now worth pennies, the btc value is down and the % value is down - and it's not a good trade even though you made 100% gains in the number of bitconnect coins.


Regarding your example - if you sell your bch in the future when it gains value over btc, then that would be a profitable trade  

edit: I personally use $$ value as a measure of trading success.

[DrBitcoin]

That all depends on what you consider a good measure of your profits

some use dollars, some use BTC (sats) - because out of all the cryptocurrencies BTC is the most secure asset for a lot of people.

Unless you believe that BCH is guaranteed to gain more worth percfentage-wise in the distant future then it's not a good measure of success in your trades.


Think of it this way - somebody bought 10 bitconnect coins when it was worth 100$, and trading it back and forth until he held 20 bitconnect coins - that project ended up being a scam and they're now worth pennies, the btc value is down and the % value is down - and it's not a good trade even though you made 100% gains in the number of bitconnect coins.


Regarding your example - if you sell your bch in the future when it gains value over btc, then that would be a profitable trade  

edit: I personally use $$ value as a measure of trading success.

Thanks. Great answer. I happen to believe BCH is sticking around. So at this point, I will hold it and if the sat value gets to my .345 or above I’ll switch back to btc.

I’m going to start a second round of trades, but this time I’m going to stick with my original plan of short trades, and any overnight limits will have a stop loss or I won’t set them.

[arthotdog]

I’m an amateur trader. Very amateur!
I started with .30 BTC in an attempt to increase my sats.
My goal was to trade back and forth between BTC and BCH and only let trades sit for a few minutes.

So I atarted with .30BTC which my first trade equaled 1.67BCH
Slowly my sat value increased until I traded enough times from .30 up to .34500 roughly.
Then...I set a BCH limit order over nigh and it triggered.
Now I have 2.30 BCH up from 1.67BCH...but I’m watching my sat value fall.

So my BCH grew from 1.67–> 2.30
And my BTC value grew from .30 —> .345

But I’m sitting on the 2.30 BCH watching my sat value fall. It’s currently at .329BTC

SO...do I just keep my 2.30BCH and hope the sat value goes back up? Is this technically a victory even if the sat value continues to fall? Am I making ANY sense?

You should always put stop-loss. I recommend you to sell when everything is still small. The biggest enemy on your trading is also yourself.

Agreed stop and loss wil decide for you funds future,specially when were out of range from our computers,because if you stayed on your line i guess failire will end this journey of yours.

Unless you can watch the movements from time to time,but if you have something that occupies time and mind then stop and loss for safe trading

[Pursuer]

Am I making ANY sense?

you keep repeating the words "sat value". what do you mean by that?

reading your previous comments I can't figure out what you are trying to increase. is it your fiat? your bitcoin or your bitcoin cash? answering this will clarify a lot of things.

[palle11]

I broke my original rule of short trades. I set that limit order and was delighted to see that I snagged 2.30 BCH, but didn’t want to take the small sat loss so I let the funds linger. Slowly watching the sat fall.

In trading, it is better to keep to what is already working for you, sticking with it would see you making a consistent profit. Then you also should avoid being greedy. You don't fight back the market when you are certain you are losing the trade that you could avoid or exit at the middle rather than waiting to see the end.

[DrBitcoin]

Am I making ANY sense?

you keep repeating the words "sat value". what do you mean by that?

reading your previous comments I can't figure out what you are trying to increase. is it your fiat? your bitcoin or your bitcoin cash? answering this will clarify a lot of things.

Increase my Bitcoin. That was goal.

[Pursuer]

Am I making ANY sense?

you keep repeating the words "sat value". what do you mean by that?

reading your previous comments I can't figure out what you are trying to increase. is it your fiat? your bitcoin or your bitcoin cash? answering this will clarify a lot of things.

Increase my Bitcoin. That was goal.

then it means your second trade where you bought 2.3 BCH and lost about 0.016BTC was a mistake. it is a 4.6% loss which is not a big deal overall but you should be more careful of trades like this in the future. you may make profit from "back and forth" trades like this between bitcoin and some other altcoin but know that the same trend is not going to last forever. there will come a time where the same trades which were giving you profit will lead to losses.
you have to try and figure out when to exit from the market and move to another if you want to continue making profit.

[CASTIEL05]

I’m an amateur trader. Very amateur!
I started with .30 BTC in an attempt to increase my sats.
My goal was to trade back and forth between BTC and BCH and only let trades sit for a few minutes.

So I atarted with .30BTC which my first trade equaled 1.67BCH
Slowly my sat value increased until I traded enough times from .30 up to .34500 roughly.
Then...I set a BCH limit order over nigh and it triggered.
Now I have 2.30 BCH up from 1.67BCH...but I’m watching my sat value fall.

So my BCH grew from 1.67–> 2.30
And my BTC value grew from .30 —> .345

But I’m sitting on the 2.30 BCH watching my sat value fall. It’s currently at .329BTC

SO...do I just keep my 2.30BCH and hope the sat value goes back up? Is this technically a victory even if the sat value continues to fall? Am I making ANY sense?

Just like scalping. But in scalping, the prices fastly move up and down. In short, there is no stability like bitcoin. I am also doing that right now and I think it is quiet profitable since I am just rolling my capital between the two coins. However, it is not good if we can trade a coin that does not have volatility. Or in simply, our coins will sit in a long period of time.
It has sense and you should continue what you have started.

[DrBitcoin]

Am I making ANY sense?

you keep repeating the words "sat value". what do you mean by that?

reading your previous comments I can't figure out what you are trying to increase. is it your fiat? your bitcoin or your bitcoin cash? answering this will clarify a lot of things.

Increase my Bitcoin. That was goal.

then it means your second trade where you bought 2.3 BCH and lost about 0.016BTC was a mistake. it is a 4.6% loss which is not a big deal overall but you should be more careful of trades like this in the future. you may make profit from "back and forth" trades like this between bitcoin and some other altcoin but know that the same trend is not going to last forever. there will come a time where the same trades which were giving you profit will lead to losses.
you have to try and figure out when to exit from the market and move to another if you want to continue making profit.

Gotcha. Makes sense.

[wantjokull]

You should stop right there as it wont be making any progress for long time. In the process you may enter the point where you reach the break even point and thus you will get it done very badly. Your good trade will turn into some loss and next time you will get more scary while doing trades. Get the winning and wait for the drop to occur. Once the value is dropped pretty low then just buy more coins and thus you will get more profits for you next up surge of the BTC or BCH. I think thats the ideal value to get this done and over the time you may double or triple your coins.

[enhu]

Am I making ANY sense?

you keep repeating the words "sat value". what do you mean by that?

reading your previous comments I can't figure out what you are trying to increase. is it your fiat? your bitcoin or your bitcoin cash? answering this will clarify a lot of things.

Was also noticing it.

As long as you don't lose satoshis, I think OP is doing fine. I couldn't survive trading BCH, what made you chose BTC and BCH?
I'd rather be sticking to BTC and USDT as of course what most of the traders are. That will make it easy for me. I don't even have to set up stop loss. But its all up to you still.

[cellard]

Bitcoin will always be winner long term. If you don't want to gamble, minimize BTC loses. If you think Roger Ver still has enough funds to keep pumping BCash, then keep your BCH position until you are able to get out without a loss or ideally find some profit.

The only options for BCH to pump is for Ver and Jihad to waste more money in another spam attack while pumping BCH on twitter as the savior of the cryptoworld, then quickly dump the BCH and you'll be back in BTC with possibly some profit margin.

[princebridge7]

trade with all your heart and don't be greedy.
if you profit 10% then just sell your coins before the price drops.

if your purchased coin drops in price up to 5% then STOPLOSS only because that is the value of your assets.