Success As a First Time Trader

When bitcoin first started being traded, I didn’t really care. I watched as the bitcoin prices rose to impressive heights and terrible lows. I wish I had bought some when the prices were as low as a dollar, because now bitcoin is worth significantly more. I could have been a millionaire, but opportunity is long gone. However, I can still make some money from bitcoin by using a bitcoin trader to monitor the market and buy and sell when I think there is going to be a change in the bitcoin prices. It’s a bit like playing the stock market.

I wouldn’t consider myself a financial expert. If I were, I would have invested in bitcoin sooner. I do think that I can read the market pretty well. On the first day of using the trader, I figured that the price in bitcoin would go up, so I bought some coin and waited. Hours later, the price went up by $500. The general strategy when trading in bitcoin is to hold on to it, even when it looks like the prices are going to go down. This can often lead to a lot of second guessing about when to sell, and sometimes people miss out on profit.

I had a feeling that the price of bitcoin would go down again from looking at the market, and I went against the holding strategy and sold off all of the bitcoin I owned. A couple of hours later, the price fell well below what I originally paid for the bitcoin. I used this opportunity to buy some more bitcoin and continued to ride the wave of rises and falls. It’s a bit addicting in a way. As long as you have some self control, you can successfully trade and make some good money.