For a time I had temporary given up on day trading activities. There were just too many things to learn and I had to have some entertainment in my life as well. What brought me back was all the opportunities present in the small scale unknown markets. Specifically in this case, it was STEEM-Engine and HIVE-Engine. I could easily find over 20% price differences within the two trading platforms or with the hive volume exchanges like Binance, Bittrex, Huobi etc.
Summery of What I Learned
It's not that I didn't know of any of these things before. It is just experiencing and profiting off of these economic/trading realities that I want to share. These things are not "theories" anymore as far as I'm concerned. They are a reality that isn't even far from you.
- Not having a large portfolio is an advantage
- I have seen assets DEC price move 60% in a day and it's not that rare either
- Assets that have a daily trading volume under $5,000 or even $1,000 can be gold mines
- The obscure markets can be very slow. You don't have to be glued to a screen. In fact I trade while I play Splinterlands or listen to interviews, educational programs, podcasts etc.
- Get used to clunky UI/UX
- http://dex.steemleo.com and http://dex.leofinance.io can be amazing compared to official interfaces. Take a good look at them.
- Don't overthink trades in a slow moving market. Massive market swings going up or down can fill up your orders while you sleep or take a break.
- Cryptocurrency is has no competitors when it comes to potential for a random nobody to improve financially.
- Cryptocurrency projects are a breeze to evaluate compared to penny stocks or startups (especially for an average person without connections or a research team backing them)
- Stick to the assets with minimal downsides or negative downside (Yes, this is a thing in crypto)
I would go as far as to say buying DEC is safer than buying AAPL at the moment. Yes I said it and it’s on blockchain for everyone to see and I do plan to flex it when I’m proven right.
This is something wrote 2 months ago and although I don't think it is still a time to "flex" on having made the claim, I will take an opportunity to show you this article as an example of what I meant "negative downside" in the summery. As long as you are buying Dark Energy Crystals at a price lower than $0.001 (excluding trading fees, deposit/withdrawal fees), you are getting yourself into a trade you cannot loose. This is still better and safer for the average person that Warren Buffet's #1 stock amidst the chaos which happens to be AAPL