Message by Hadrian, in tradworker, #cryptoautism

Hadrian 2018-01-02 18:46:00

okay, if I were to buy $100 of something, what should it be?

John Mosby 2018-01-02 18:48:06

I have a boner for TRX, just cuz the coins are so cheap, and TRX is projected to be anywhere between $1-1.5 per coin by end of this year (currently only at 7 cents per coin).

Then again, I am no expert on alt-coin, like some.

Hadrian 2018-01-02 18:49:31

Not looking to hold it for a year right now. I have enough tied up in BTC that I can't move as it is

John Mosby 2018-01-02 18:50:09

U'll need to find a cheap coin, if u wanna make money day trading.

BadGoy1488 2018-01-02 18:50:19

I have some litecoin. Looking to put some money into BTC, ripple and TRX

BadGoy1488 2018-01-02 18:50:31

Just to play around with and see what happens

John Mosby 2018-01-02 18:53:12

I'd put $20 in several cheap coins, that look profitable, or have a lot of "pump and dumps", and get an idea of how to day trade.

I was day trading with TRX a couple weeks ago, and was able to double my money in just a couple days, due to all the pump and dumps that were occurring then.

John Mosby 2018-01-02 18:54:52

And I wasn't even doing good with predicting the peaks and lows.

johanC 2018-01-02 19:02:06

johanC 2018-01-02 19:02:30

Finally seeing it for myself

Hadrian 2018-01-02 19:07:06

What's the best way to do day trading? Changelly?

Hadrian 2018-01-02 19:34:26

^bump

John Mosby 2018-01-02 19:37:30

I use bianance, as it has TRX, and only has a .050% fee

John Mosby 2018-01-02 19:37:46

I havent used changelly, myself

Hadrian 2018-01-02 19:43:20

does binance have wallets there or do you need external ones?

John Mosby 2018-01-02 19:58:36

"No. With a wallet, you have your private keys, all the crypto is completely yours.
With an exchange (any exchange, not just Binance) the exchange owns the crypto, they hold the private keys, it belongs to them. Your account is an entry in their accounting database that assigns some of the crypto to you. As you trade, those entries in the database get shuffled, but none of the transactions actually go on those respective coins' blockchains.
The reason for this is simple - in trading you want instantaneous transactions, not ones that take from minutes to hours."

Hadrian 2018-01-02 19:59:46

ok

Hadrian 2018-01-02 21:16:44

Alright, got that set up and bought 326 TRX to test the waters

John Mosby 2018-01-02 21:20:02

Cool

Just make sure when u buy into a coin, u buy it on a low point of its daily value.

Hadrian 2018-01-02 21:22:20

Mostly learning how to read the charts etc now, but I figure if I read the trend wrong then I don't really lose that much

Hadrian 2018-01-02 21:23:15

bought at 0.00000519 have an order to sell at 0.0000055

John Mosby 2018-01-02 21:24:54

For instance, TRX was at .085 cents per coin several hours ago, then slumped into .057 cents per coin, now it is back up to .077 per coin.

It's beneficial to buy at the .057 price, then keep an eye on it once it goes up to .077...

U can either make a gamble on selling when it goes back up to .08 cents per coin, and trade it for a stable coin, then wait for it to slump back down to another low, then buy it again. That way u can consistently build up your amount of coins, without even investing more money.

It isn't gonna be a super big deal, if ur only investing $20, but it gives u a feel for the market, so u can better predict the charts, for when u do want to get into serious day trading.

As I said, I am not expert, but this is what I have found out playing with it a lot lately.

Hadrian 2018-01-02 21:25:46

Right, that's what I'[m trying to do now

John Mosby 2018-01-02 21:25:52

Binance is being a little bitch with me right now. Keeps locking up, so I haven't been able to do any trading today, so I lost out on some money.

Hadrian 2018-01-02 21:25:56

play around with small amounts to learn

goygicy 2018-01-02 21:26:21

This conversations got me interested now

goygicy 2018-01-02 21:26:27

Think I'll go buy some

goygicy 2018-01-02 21:26:53

Never put much stock in alt coins. Btc was enough for me but it seems like there might be more value in others in the long term

goygicy 2018-01-02 21:26:58

Don't wanna miss out on something like btc again

John Mosby 2018-01-02 21:27:30

There are a number of coins that will be making people millionaires off of small investments (less than 10 grand).

goygicy 2018-01-02 21:27:30

100 bucks here, 100 there. Certainly won't hurt

John Mosby 2018-01-02 21:29:51

I'm only playing around with a bit of money, just trying to figure out the market, especially figure out the charts on some of these newer coins, so I can decide what to invest a lot of money into once I get my taxes back.

goygicy 2018-01-02 21:30:15

I'm quiting smoking and gonna put all that money into stuff like this

goygicy 2018-01-02 21:30:22

Gonna have a ton of money to invest

John Mosby 2018-01-02 21:31:13

Ha, ya. I can't tell u how much I've saved by dropping the cancer sticks (I will admit I still smoke socially...my vape helps to keep me from doing it, though).

goygicy 2018-01-02 21:31:37

I've got 6 smokes left.

goygicy 2018-01-02 21:31:40

Not buying another pack

goygicy 2018-01-02 21:32:34

Been off caffeine for almost 2 weeks. It's time to buy alt coins, haha

goygicy 2018-01-02 21:32:46

Wonder how much money I'll save not buying soda constantly

John Mosby 2018-01-02 21:33:19

I quit drinking soda and caffeine for a few years now, and I feel a lot better physically, even.

Hadrian 2018-01-02 21:33:25

its nerve wracking watching those numbers bounce up and down