a newbie query

[ronny1468]

Hey everybody!

i am totally new with bitcoin trading, and there is something i dont understand

today i took 127.1 USDT and used them to buy bitcoin at 39,479
than sold the bitcoin when it was on 39,525
$46 more, right?
but i only got 126.8 USDT back

what am i missing?

thanks

[1714029486]

1714029486

[1714029486]

1714029486

[1714029486]

1714029486

[DdmrDdmr]

<…>

You initially bought roughly around 0,003219 BTC (127,1 USDT /   39479 USDT/BTC)
You then sold at 39525 USTD/BTC, which is 46$ more, but for a whole BTC. Since you only had a fraction of around 0,003219 BTCs, your USTD value would be 127,2481 (0,003219 BTC * 39525 USDT/BTC).

That is, you won a few cents at most, but on top of that, you has to pay fees, likely both when purchasing and selling, thus you ended-up with 126.8 USDT

[ronny1468]

thanks!

would it be too weird to ask - so how do you make money like that??
is it because i took this particular pair? USDT/BTC?

[NeuroticFish]

Hey everybody!

i am totally new with bitcoin trading, and there is something i dont understand

today i took 127.1 USDT and used them to buy bitcoin at 39,479
than sold the bitcoin when it was on 39,525
$46 more, right?
but i only got 126.8 USDT back

what am i missing?

thanks

Your math is way off.
45 USDT would have been the gains for 1 BTC. Since you've bought only 0.003219 BTC, the gain is comparably smaller: 0.148 USDT.
And since the exchange you're using has some fees here and there, fees you didn't care to check, instead of gaining 15 cents you've lost 30 cents.
Quite a cheap math lesson  

thanks!

would it be too weird to ask - so how do you make money like that??
is it because i took this particular pair? USDT/BTC?

It's not about the pair, it's about fees and amounts. For such a small amount to play with you will have to wait for much bigger price differences to worth it.
If my math is right if you sell after the Bitcoin price gained 150$ you will not lose; but not gain either. So you have to wait for even bigger (than 150$) price jumps for this kind of trading (scalping). If the jump is 200$, you may earn some 15 cents. Does it worth the hassle? Only if the point is learning.

[DdmrDdmr]

<…>

It’s not because of the pair, but rather that you sold when your purchase was up only 0,12% (disregarding fees), which represents a profit of 0,14894 USTDs before fees. Not a winning match …

Normally you’d set a target price to sell at, being either a flat value or a percentage with regards to your purchase. When and if that target is met, you’d sell. You also have to cover your flanks, in case the price goes down more than you’d want (stop loss and such), or simply hold and wait (hours, days, weeks, months, etc.). Traders will be able to provide details if need be, but start with the basic concepts and don’t rush it.

[ronny1468]

everything i do is for learning
i figured instead of going to school and learn something new in my 40's, i better off teaching my self and right now i am working on a few things so i came across bitcoin trading and i have zero knowledge so started small. really small apparently

how much do you recommend investing in order to see an actual profit?

[DdmrDdmr]

<…> how much do you recommend investing in order to see an actual profit?

It’s not so much a question of quantity, but rather strategy and getting to know what you are doing. You can invest a highish quantity, have back luck and/or a bad strategy, and lose a large chunk, or simply barely make a profit.

If you initial quest is to learn and test your capabilities, there are a bunch of trading platforms that let you try your capabilities and strategies, such as those listed here.

[NeuroticFish]

how much do you recommend investing in order to see an actual profit?

If the point is learning to trade my advise is to not go for too big amounts hoping for the profits.
Trading is risky, the price goes up and down, and if you don't know good enough what you're doing you can too easily lose a big part of your funds. And losing (let's say) 20% of 127$ doesn't hurt as much as losing 20% of 1000$.
For now get a spreadsheet, see bitcoin price growth in percents to see how much you would earn, study the fees of the exchange you're using, learn about stop loss, look on TA (technical analysis), see what news can be relevant for the price.

[odolvlobo]

would it be too weird to ask - so how do you make money like that??
is it because i took this particular pair? USDT/BTC?

You wait to sell at a higher price. It is impossible to make a profit if the fees are 0.2% and you sell after the price has risen only 0.1%. And don't forget the fees you paid to buy the BTC.

[Falconer]

If the point is learning to trade my advise is to not go for too big amounts hoping for the profits.

For someone who is not experienced in trading it might be better to recommend investing and holding it long term. Investing is much better than trading in the long term although one also still needs fluctuation to make a profit. But there is nothing wrong if the OP wants to learn about trading.

OP, think of investing in bitcoin like you invest in gold. Gold price also fluctuate but I'm sure you won't mind too much in the long term. Such a mindset will help you maximize profit on bitcoin in the long term because I think the potential for bitcoin in the long term is still quite bright. Apart from that, having a secure wallet and taking the recommended security measures is also a must if you are interested in bitcoin.

[ronny1468]

long term sound like a good option
i will keep on learning

thanks guys!!!!

[BernyJB]

Ronny1468: you're doing great, keep at it. Just don't do any more investing/trading until you  learn a lot more about the whole thing. Read books, watch courses, watch videos, and finally keep reading this forum a lot. It's free, and the amount of information in here is staggering. Then keep asking questions. You will find yourself in a position in which every reply you get will open more and more questions.
Do that, and start putting money when you're ready, but not a minute earlier.