Topic: Questions from a noob (Read 395 times)

Well your opinion was like me back then when i tried my first time and it's also 'my first lose',cut loses might be good sometimes but it's not the way to trade in cryptoworld.when you trading altcoin you need something called 'patience',let me tell you a little story about that ;
In early~mid 2016ish there's a coin called XVG with high tech and good developer,they're continiously updating and improving their coin but traders push it down until it reach 2~7 satoshi even 1 satoshi.but some trader believe it will go high in the future so they hold it.and you can see it right now ? How much they get from their initial amount ?
Also,don't trade top cryptos instead trade low liquidity altcoin

appreciate the reply. I will pay less attention to CryptoCompare. I am noticing the high/low trends of specific coins at specific times. Again I have no chart reading or investment experience in any similar fields but I do understand money and how to make it
Thanks for your advice and concern but I have really enjoyed the thrill of trading so even though I run the risk of losing some money, I believe I will continue. I dont see the posibility to lose all my money because well... I wont invest all of my money, and when it comes to losing all the money invested.... My career has taught me that its better to cut your losses quickly instead of bleeding out and hoping for a miracle. I will happilly sell for a loss before I let a bad choice end me.
PS: Fuck BURST

Well,i guess you're 'a little lose' in calculating your profit and lose right ?
I never believed what cryptocompare or whatever to calculate my profit/lose,what i believed in trading is what i see and what is on my balance.and for beginner it's very risk to day trading because likely you will lose your money,because altcoin market's very volatile.
And for 1 august,even thought i heard a lot of rumours i believe bitcoin will always be like that getting strong everyday.

I am a little lost on how this works and need some direction. I have recently started trading altcoins, I am a business owner who has yet to invest in anything other than real estate which has recently became a losing battle in my area. I liquidated all real estate assets accept my private residence and decided to find a new investment, hence altcoin. I had no prior trading experience of any kind but I have always been rather computer literate and decided to give it a go. I don't really see the potential for high returns in day trading crypto, seems more like something a bachelor can do to support himself without working to hard for his money OR a decent supplemental income as a part time gig. If all I have to do is watch the swing of the market, buy red and sell green... beautiful. I can do my day job and play cryptos on the side. Now that your caught up with terribly unimportant and unrelated details to the post lets get started:

I began with $1000. I have not pumped any more into it yet, and I may have chosen a bad time to start (I am aware of Aug 1st but I have faith in BTC)?
I really only got into it on Monday of this week... so 5 days now.
I have been buying BTC on coinbase, sending too and trading on Poloniex  (If anyone has a better way PLEASE ENLIGHTEN ME)
I have made about 10 trades between LTC, ETH, XRP, XEM, and BURST  ----- Fuck BURST, thats my biggest loser so far. (For all you math wizards yes thats only 5 cryptos and I said 10 trades... I have sold some already) .

Overall I have managed to maintain my initial investment of $1000, I guess I am down about $12 so far after xfer and trading fees. Being a complete noob I am rather satisfied with this performance, after all I knew before I started this would be a trial run with minimal investment to test market.
I am attempting to track all my trades using a CryptoCompare portfolio to monitor my P/L but for some reason the calculations I get on that site don't match what my calculator tells me. Heres my conundrum:
CryptoCompare says I have proffited about .0038 BTC but on the flip side I have LOST $56.00
My Poloniex account shows my holdings worth about $1009... (Real initial investment was $1020.00)
Is this because even though I have made trades which amassed more BTC then I invested the falling price is actually resulting in a loss?
Also the math they provide doesnt quite match, here is how I see it... correct me if I am wrong:
I bought 6.5 LTC for about .0187 BTC = .12155 BTC total, at a time when I bought the BTC for $2235 / BTC, that means I paid $271.66 for this LTC
I lose about .001 in fees on the buy so I have 6.499 LTC left. I sell the 6.499 LTC when they reach .0192 BTC per for a total of .1247808 BTC, BUT BTC IS DOWN TO $2195 at this time meaning I extract a total of $273.9.
In my world this means I either went +0.0032308 BTC or +$2.24
Its a profit either way, my CryptoCompare portfolio calls it a profit of .005135 BTC and a loss of $3 and change (acidentally closed page and dont want to open again for exact number)

Any ways you get the idea.... any help to offer? Am I doing bad math, looking at this wrong or just an idiot?
Any help is greatly appreciated, and also advice please! I really want to be good at this.

Thanks in advance.


EDIT: I just noticed that CryptoCompare says my total profit in portfolio is .004067 BUT my profit on that 1 LTC transaction was .005135.... more than my entire portfolio?
So lost now.
EDIT 2: ignore previous edit, im dumb. the total is accounting for my BURST loss.... Fuck BURST.