Hey all. Im thinking about trading altcoins and read that bittrex is the best site to do this on. If i do this, i would be buying coins and then selling it when the price hits a certain amount. Of course if it drops, i would hold on to it until it goes back up... or it may not go back up etc.
Is there a way to do this with a simulation program with fake money? For example like imagine i send 10000 worth of usd or bitcoin to bittrex. Then i could trade btc for another coin and trade etc. Let say i go and buy 10 ETH at 300. I would like to know the total fees when buying ETH... then selling it when say it hits 350 and i sell all 10 etc. Thus i know it would be 500 profit. But how much in fees will there will it cost each time doing a trade? Is it flat 0.0025 percent each time? The other thing is how do you trade for altcoins where you cannot go from an altcoin to usd? For example, you cannot trade a coin like steem for usd directly. So does that mean you need to go from btc to steem. Then if you want usd... you need to go from steem to btc to usd. Thus you have to pay 2 fees of 0.0025 percent each? the thing that confuses me is say you want to buy steem at 1 dollar. say the price is 1.05 right now. Well how do you do this when you cannot buy steem at 1 dollar since you cannot buy many altcoins with dollars right? Thus you would need to know the actual btc in 1 dollar every single time? Now what if you want to do a buy or sell order. Like you want to do a buy order of steem when it hits 1 dollar. Well how can you do this when you cannot buy it with dollars. You have to buy it with bitcoin. So you need to convert 1 usd to btc? Then once you do that... say you want to buy 1000 shares of steem at 1 dollar.. you put 1000 shares at 0.xxxxxxxxxxx btc? However the issue with this is bitcoin prices changes a lot. So that 0.xxxxxxxxx btc which is 1 dollar might only be worth 0.92. Then what happens here?
I know you can say... well you could do this by just making a spreadsheet on this and do it manually. However is there a trading simulation where you could use where its not real money and you trade crytocurrencies? Thus after each buy and sell, it show you how much money you have? The other thing is how much money does it cost for you to withdraw that money from bittrex to your bank account?
Is there a way to do this with a simulation program with fake money? For example like imagine i send 10000 worth of usd or bitcoin to bittrex. Then i could trade btc for another coin and trade etc. Let say i go and buy 10 ETH at 300. I would like to know the total fees when buying ETH... then selling it when say it hits 350 and i sell all 10 etc. Thus i know it would be 500 profit. But how much in fees will there will it cost each time doing a trade? Is it flat 0.0025 percent each time? The other thing is how do you trade for altcoins where you cannot go from an altcoin to usd? For example, you cannot trade a coin like steem for usd directly. So does that mean you need to go from btc to steem. Then if you want usd... you need to go from steem to btc to usd. Thus you have to pay 2 fees of 0.0025 percent each? the thing that confuses me is say you want to buy steem at 1 dollar. say the price is 1.05 right now. Well how do you do this when you cannot buy steem at 1 dollar since you cannot buy many altcoins with dollars right? Thus you would need to know the actual btc in 1 dollar every single time? Now what if you want to do a buy or sell order. Like you want to do a buy order of steem when it hits 1 dollar. Well how can you do this when you cannot buy it with dollars. You have to buy it with bitcoin. So you need to convert 1 usd to btc? Then once you do that... say you want to buy 1000 shares of steem at 1 dollar.. you put 1000 shares at 0.xxxxxxxxxxx btc? However the issue with this is bitcoin prices changes a lot. So that 0.xxxxxxxxx btc which is 1 dollar might only be worth 0.92. Then what happens here?
I know you can say... well you could do this by just making a spreadsheet on this and do it manually. However is there a trading simulation where you could use where its not real money and you trade crytocurrencies? Thus after each buy and sell, it show you how much money you have? The other thing is how much money does it cost for you to withdraw that money from bittrex to your bank account?
WELL this is much big question, i was fearing how to quote this one, Lol just kidding
OK so your problem is you want to have Cryptotrading DEMO account right ...dont worry i am here i will solve it
you just need to go to www.avatrade.com and just register there your details and email id for demo account registration. After filling out all the details correctly you will be given a user id ,password, and server id just save those all the things in a notepad for use. now download the Metatrader 4 platform from their site and install it ( dont worry no need to worry about virus,software is good to use). Now open the software and just go to
FILE menu -->login to trade account--> then enter the save details here and
enjoy the DEMO trading for free.watch this image here how it looks http://prntscr.com/giptbg
i will create a thread on this how to setup your cryptocurrency chart in demo account and everything related to creating demo account.
for now this is enough, hope this helps.
