Today is that day
So Today I decided to make use of what extra time I have to get to my wallets in order for receiving the crypto I earn online and set up a demo trading account with Stormgain to get familiar with some trading tools and knowledge as this is a field in which I am a novice.
You can receive a free $3 sign up bonus and Start mining free BTC while using your demo account to learn how to trade “HERE”.
I certainly want to try my hand at trading, but I am not naive, I will not use hard earned crypto while going through this process.
Over the course of the next month I will use this Stormgain demo account and record my progress to inform readers of my findings, tools and the options that are available, which I find beneficial or not so beneficial, I will discuss in more detail next month in my 30 day review to hopefully give those seeking to get started in trading a better perspective on the do's and don't of these trading platforms.
On initiating my $50,000 USDT demo I noticed that BCH was on a small dip which I believed would recover over the coming days and weeks so I Purchased $10,000 USDTs of BCH at the current value of $548.18 personally I should have waited for the dip to go lower, I will explain why in a minute, I leveraged this purchase at 30x.
I then decided sure why not try BTC that seems to be on the rise and again bought $10,000 USDTs of BTC, unfortunately I leaveraged this at 200x and lost the complete BTC trade withing minutes as it droped quickly, A harse but firm lesson, one which I was glad I learned while using a demo account and not hard earned crypto.
I Then bought some more BCH in 3 seperate purchases of $5,000 USDTs each as the dip had gone even lower that my first initial investment of $10,000 USDT which I was hoping to use to help balance the loss of the BTC Investment, luckly the value of BCH improved and I was able to recover almost 30% of the $10,000 USDTs lost on the BTC trade.
I havent gone into the purchase or sales valuation because I did this in hast and completed each transaction on a hunch and without fully understanding the importance of keeping proper records of the following data which I feel wiil be essential in guaranteeing success as I move forward with my demo account
- The Current Value of the USDT or Tether
- The Puchase value of currency you choose to purchase compared to the USDT
- Current value of said purchased currency
- Sales Value of said purchased currency
- Leveraged Xs
- and the Intersest payable
- The Profit or Loss of each individual transaction
I would suggest creating a spreadsheet to help you better analyse this data or at the vey least take extensive hand written notes, I will include images of my data analysis on completion of my 30 day review
Next I would suggest as I am currently doing, that you undertake the video education sessions and look up crypto signals made easy as well as any online videos you made find, I have including one here for you to watch and hopefully get you motivated to begin learning.
https://www.youtube.com/results?search_query=crypto+signals+made+easy%2F+stormgain
I hope this is a helpful explanation and prevents you from getting your knickers in a twist, like I sure did, patients is a virtue, be patient, study the field before you play.
Here is a video about a simple trading strategy that claims you can earn at least $100 a day by doing one simple thing.
Overall I would say this was a bad first trading day, but thankfully I was in demo mode and eager to learn, However I would stress the importance of walking before you try to run, it will certainly benefit you in the long term, watch those video editorials in Stormgain to better understand the layout of the land you will be travelling, it will be well worth your time once you start you utilize this knowledge with your hard earn crypto's.
My Current Demo account stands at $42,999.76 USDT after my first day, but I have learned so much as will you by using this DEMO account.
If you enjoyed this article and would like to know how this story pans out please subscribe to my blog, I will be adding forther reviews and articles daily, you can find my blog at the links below. Where you may also earn some extra crypto in your spare time. ENJOY.