Hey everyone!
With most markets bleeding today I was looking to diversify some of my assets into either Tether, bit.usd or Steem Dollars to save them from losing out too much value.
I wanted to create this post to be open and transparent about my trades - I see many similar posts about successful trades and trading which often though appear when markets are in a big surge in general and make it pretty easy to have successful trades, most of these users also do not show how big the amounts they trade with are - hence not really putting their money where their mouth is, just showing price numbers that may look impressive but do not necessarily have to be because anyone can pull off successful trades with a very low volume and by spreading out the investments on as many currencies as possible. Anyway, I haven't made all that many trades recently because I've barely had time to trade with my Steemit activity and Steemit.chat, etc, hoping to have more time soon and be able to continue my Portfolio on @cryptochannel where 10% of it goes to active Steemians.
Was a bit lucky with the timing as I was checking out Poloniex I noticed how Steem Dollars were shooting up through the roof, here is what I quickly did.
Since Poloniex has Steem and Steem Dollars disabled it made it a lot harder to pull this, but in my mind I guessed most people would think the same. Lately I've been using Blocktrades.us and have been fascinated by the speed of their service, this was a big reason to my successful trades today.
As I noticed the pump of Steem Dollars I quickly traded my liquid Steem I had on my Steem Wallet through the inner market to SBD, then I withdrew some more funds I had on Poloniex (didn't want to risk too much) - to be as quick as possible I converted them to DASH and sent them through Blocktrades.us to my Steem Wallet as Dash - Steem. Once the Steem arrived on my account I traded them for SBD again and sent those to Bittrex.
The inner Market trades:
With 740 Steem I was able to aquire 985 SBD, as I was waiting for them to get to Bittrex I noticed they were already at 90k satoshis on Poloniex but started dropping shortly after. My first thoughts were to sell half of the SBD and wait with the other half in case of another pump. Since most cryptocurrencies were dropping today I guessed that many others were looking to get into more "stable" or "pegged" currencies, but I was really sleepy and once the SBD got through to Bittrex it was at an alright price and a good profit margin so I thought "hey, profit is profit - might as well just trade it all". Not to mention Steem was as low as 62-63k satoshis at the time and of course I was looking to get back into Steem having sold it at a higher price in the inner exchange.
So I sold them for bitcoin:
Looking at the chart now my timing was not the best - had I held on to half like I initially was going to I would've been able to make a bigger profit.
People have got to sleep now and then though and considering that I didn't want to hold it in Bitcoin for longer than necessary I was pretty happy with my next trade where I traded it back into Steem at a really decent price. As you can see I could've sold them for around 85k satoshis each, but at the same time the price of Steem didn't drop as low as it was at the time of my trade off of SBD as you can see in the Steem chart below.
Nice trading. This is all a lot more complex than forex used to be - at least there you could think in one main denominator currency. Here, you are looking at btc, Steem, SBD, and somewhere a paper currency like USD.
What a great trick you used there. I really like the sense of observation you have showed us here. Maybe we'll soon be able to have such foresight and opportunities. Thanks a lot for sharing the tricks of the trades!
All for one and one for all! Namaste :)
Wow! That's a really good return on one day's work investment... but it's really not one day. It's years of learning how to buy low sell high and then the correct plan on when to make your moves. Do you share your failures too? My mom would always tell me how much weight she lost but never how much she gained. She should have disappeared several times by now. ; )
Haha, yeah I do but of course I don't brag about them as much as the successful ones. On my @cryptochannel account one of the investments I really liked and got into early was called Jewels, turns out later the devs ran off with the money and dumped the project so that investment died off pretty quick. Good thing about cryptos is that the return is often so much greater on the good ones that a few bad ones don't matter much. :)
Agree! This is why diversifying is crucial. You might lose in some of the micro investments, but on the long run, when done with caution, theres a lot of sweet sweet gains to be made, ohh delicious profit, I prefer you to a freshly brewed ground coffee and a portion of carrot cake, and I Love those two!
:D
Congrats on such a good day @acidyo !
I hope you are right.. especially when you just stared. had to convince the GF, maybe a stupid mistake on day 3 with XRP.. and yesterday all went down.. No i must hope to a recovery.. I think the first ico's very super, but now you really have to be very carefull... maybe I msut do something with tezos and hopethat in a few years I have luck
Good points but there's a big difference in knowing what to do and saying what others should do and actually doing it. Takes balls to make these trades and kudos to pulling them off! Cheers to all
Lol true
Haha yeah, guess it goes without saying nowadays but voted this up higher so people see it, just in case. ^^
Thanks for sharing. I am trying to learn how to make some smart trades myself but am not quite ready so reading blogs like this really helps. Congrats on the profit!
It's a bloodbath out there, has been for quite some time now. I think there is a popular saying that goes, "Buy when there is blood in the streets, even if your own." :D
I made a good trade on BitcoinPlus earlier today, going to buy some BitcoinDark hopefully that will go up soon!
Sounds like a good plan, I remember those 2 pumping a few months ago not far apart from another when BTC was dropping.
That's the trend I'm hoping will happen!
Hell yeah man! These trades are really nice!
Sweet moves! I also jumped on the dump while everyone else panics that is key time to actually jump in for some bargins! Picked up well over $100 more in steam just today slowly getting there and fully vested
yea I saw those moves. By the time I was ready to get in it got reversed, was tok late for me. But got some more btc on this action. well played.
that was some next level shit that separates the normal traders from the really good traders. I have my methods but not like using 3 services to round trade like this. Good job, and I will re-read to follow all the staps cause things like this can be hard to grasp.
Nice post, it is easyer to earn from crypto than steal ice from a kidd... Cheeers
lol :p
i never regret any step I take in trading, its either a loss or gain, but there is always a lecture there.
Way to stay up on a down day. This is my first day getting into crypto currencies, so it's good to see this sort of work is possible in a slow market
Its not slow. Anytime you see prices moving up or down thats a good thing. Sideways markets suck!
Now that i call a good read...all i have been able to do with SBD was hold it with a plan to sell it when the ratio gets better. i believe that Steem will grow in long run, but at the same time i felt that it might be worth it to wait before i exchange them.
Another good thing you can do with it (although I don't recommend holding too much assets on exchanges) is to set sell orders up high and when pumps like these occur they will eat them up!
Thanks. will keep that in mind and might just try it :)
That is a good way of ending your day! Super! This afternoon I just missed the big move up of XBC (BitcoinPlus). Somehow this one was not effected at all by BTC, or maybe having the reverse. Right as we speak it is going up again for maybe a next spike. Sleep well :)
Thank you so much for explaining. I stared at it for a long time and looked at lots of possibilities in SteemIt market to figure out how to cash in on it. I'll have to remember to for next time.
Nice moves. For a newbie, I just wish I acted on my gut feeling and sold a little to buy the dip. Ah well, live and learn.
"The stock market is a device for transferring money from the impatient to the patient"
-Warren Buffett
Best advice I can give a new trader, aside from learning the basics, is patience.
Being patient really has shown to be the best way in cryptos.
Also a big reason the phrase "HODL" is so popular, I guess. :)
Yah for sure. I got good advice when I was first contemplating getting into all of this. I was told to invest an amount I wouldn't be emotionally attached to. Was easy when I first started back in late April, but now....its a little different when that initial number has tripled.
Congrats on the quick trade and good timing. So I it understand correctly, when the time comes that I want to cash out or trade Steem (and to be clear I'm not even close yet ) you have to do a multi-step process? Steem Dollars to Steem then Steem to Bitcoin or other through Blocktrades out to whatever exchange wallet I use to get to FIAT bank account?
Steem Dollars to Bitcoin and then Fiat or Steem to Bitcoin.
Hoping that with time more exchanges will accept SBD/STEEM soon and a few that offer to trade it directly onto USD would be nice too.
Yup. We (Group of my friends) thinking about that to start the same, not sure how to start and where. Any ideas from your end.
Upvoted & following you. Also please upvote my postings
https://steemit.com/steempricesraises/@sk2045/steem-raising-raising-and-raising
Ok, a straight shot into STEEM, but more difficult out. Would be great to see STEEM exchange out direct to USD. :-) Thank you for your time.
@acidyo - Another quick question if you have a moment. I noticed a rapid pattern of upvotes on comments in this post. The same 6 users voting in-step right behind you. Are those like bots or some kind of auto voting codes doing that, or actually the users coming through to vote and it just worked out that way?
Far too many people second guess themselves and only see the opportunity they "missed " by taking the solid gains.
People who fall into large sums of money all at once usually end up either pissing it away or, worse yet, think it's REALLY EASY and blow it all in their next big trade.
Congrats on your "Smart" trading.
That's awesome. Thanks for sharing! I love seeing people trading when everyone is afraid. I've read a few books either forworded by Warren Buffet or written by him. He says, "be fearful when others are greedy and greedy when others are fearful." When people are afraid that the prices are dropping it's time to make some purchases. Awesome results!
Haha! Exactly!
Awesome, that is all very useful info. I like these types of posts on the inner workings as I am still very new to cryptos. Thanks for posting!
Damn man, I hate you so much!
Are you giving classes?? I need to take few!
Haha, I wish these arbitrage trades happened more often.
Follow my @cryptochannel account and you might run into a few good long-term investments. :)
Quick thinking! I love buying days like these... Great opportunity.
I ended up shorting usd and buying Bts on Open Ledger. Got in a little under 24 cents.
Haha, I can't say I'm shocked that you slept pretty well considering everything, bro. Glad you had some good trades, man! Keep killing it :)
Cheers. ^^
Oh, on a unrelated side note, I dunno if you're into PC gaming or not (Only mentioning this because of you owning a 3DS), but if you are don't forget to hop on the Steam Summer Sale and grab some games while they're on sale :)
Ah has it started now? Guess Steem was not the only one being on sale today, hahah!
Hahaha. Yeah, it started 2 or 3 days ago I believe! I made a post on here earlier actually trying to help anyone on Gaming or Games find some good deals for $5 or less so they didn't have to comb through the deals. Seriously, there's so many games on sale on there it's ridiculous. Took me almost 2 hours of searching to make a decent sized list of good games.
Nice! I'll take a look at it soon!
Is Dead Space for sale? ;) haha
Oh, by the way, if you're into puzzle games and want a free game let me know. None of my friends are really into them, and I've had this one game called AntiChamber sitting in my inventory since, like, August of last year. It's a psychological, first person puzzle game that looks pretty crazy. I've had issues with playing co-op portal/portal 2, so I've just never wanted to actually play it, lol.
Lemme know if you want it, bud. If not, I might try to give it away on Gaming/Games although I don't know how much interest there really is for something like that on here. And, let me know if my gaming list helps you out at all! I'd really like to actually have a few people find something to entertain them thanks to my list.
Yeah, hopefully it helps you find some games to grab! I'm on the fence about getting a few myself, not sure if I should spare the funds right now or not, lol.
It is! Dead space 2 is also on sale as well. They're both $4.99 right now :)
You too, bud! Hope you're having a great day (Besides the great return on investments, lol.)!
blocktrades has always been fast and dependable for me - @ats-david also spoke favourably about them in one of his posts
I had a sell order setup for SBD. Ended up selling far too low, didn't expect the spike at all. Decided I'd take advantage, transferred 160 SBD over to poloniex... only to find out after, this was not possible. Now my funds are in limbo. I've had a terrible day....
Aww yeah :( a friend of mine has sent some without checking prior as well, hope Polo gets them up and running soon...
Hard lesson learned. I didn't even think to check first.... Now I will.
A day's work yields almost $800 in profits. But this is only for the experienced like you who understand the markets so well. It's almost like playing chess, you need to make the right moves, based on the unpredictable market which in this case is your opponent.
I used to trade on a daily basis but my losses were more than my profits, only because I didn't get out at the right time.
Once I realized where I was going wrong, everything fell in place. But now I play it safe.
I enjoy your posts as I get to learn more.
Yeah I don't really daytrade anymore, seems like bots are so much better at it and I've also learned that being patient pays off a lot more in these markets.
Being patient is the only way to be successful. A profit is a profit, irrespective of the amount. As you said, it helps one sleep better. Congratulations!
That's really cool that you posted this. I've been looking at different boards all day long and thinking about buying some Etherium and other coins. I didn't have any liquid steam though that I could use without powering down.
Quick thinking & nice work acidyo!
I'm glad that it turned out well for you.
I was buying the bloody dips the last few days, and so far, it's working out rather nicely for me :)
The only thing I wasn't quick enough on the draw with, was longing the bottom on BTC, but I was asleep at the time of the bounce, so I'l let myself off, just this once ;)
Fortune favours the brave.
Such a boss move!! That's how you take advanatage and become a boss 😀🙌🏼
how can u trade on poloniex if SBD is stuck since days? I wish they will fix the issue asap as they put my 514 SBD as pending (nothing showed on poloniex)
Man that was good!... The best i could do was buying some cheap steem with SBD and then powering up (just 20 steem, i am still poor LOL) ... Thanks for showing us this tips to trade!
@acidyo So SBD then pumped a little more which could have made for slightly bigger profits! Thanks for providing some insight into the ease of making a little coin on the markets. I am loving this place called STEEM!
Wow, good for you! I'll remember that when I start to gain confidence in it.
What a trading day for you man, today was a really good day sell SBD to buy steem already at profit not any where nere your profit but we all start some place
Ha, never would have thought to do that. Great show of ingenuity!
Holly shit! That was boss level! I'm going to make some moves with my SBD right now!
Good luck! :)
LOL yeah it was. But you have to watch and time it right. Like day trading stocks or IPOs.
Thanks for sharing the information sir,
It's priceless for steemers like me :)
This is important info, thank you for sharing your knowledge with us it means a lot :D
you are too smart! IM curious did you figure this out yourself or do you watch any YouTubers? If you do who do you like? THanks for sharing this veyr useful info!
I don't watch deadtubers for crypto tips. :p
ahaa! u must just be genius then!
Making profits in bloodbath is a real charm and good to see you making it good during this market.
This comment has received a 0.59 % upvote from @booster thanks to: @cryptokraze.
Nice trades
Good for you, I stocked up on LeoCoin yesterday so I made out ok too.
Awesome job! Glad to hear someone did good today despite all the red.
I'm kind of jealous because I have no idea how to handle such things. But congrats!
can you help me i'm new at this, got the message Voting weight is too small, please accumulate more voting power or steem power
thanks all :)
Wow. Very nice and trades you did there !
I recently started to trade, but not on crypto currencies ( forex & binary trading stuff ) and I was able to "collect" some rules of trading :
You have been nicknamed MacGyver!!
Those were some nice trades for some quick Steem!
Being able to sleep at night is so important! A few years ago I was constantly checking my stock app or the spot prices of the metals so see how my portfolio was looking.
I realized I needed to spread out my holdings and get some diversification.