I have always wanted to trade crypto and of course, I have sold lots of coins before but I have never deemed it fit to try trading. Hey mate, don't be confused, trading goes beyond selling alone.
Well, let me explain to the best of my knowledge. Trading in simple terms is buying and selling goods/services to make a profit. Selling is majorly just one part of a trade.
Well, not to give a lecture, I ventured into the hive-engine to check the price of sports tokens which by the way remains incredibly low. I have no idea what advice to give to the sports creator to boost the price of sports. Maybe halving of the tokens will be much more appreciated.
It was while I was browsing through the market's prices of some tokens that the CTP price cut my eyes. There was an over 21 % decrease in the price. I browse through the sell and buy order list and I noticed the huge price disparity.
I checked the sell order and saw the first sell order of 783 CTP @ 0.05300 hive while the next one that followed it was 0.0608. I then decided to check the trade history and the rate at which the coin was traded was satisfactory to me.
I decided to buy the 783 CTP token at 0.05300 which costs me 41 hive.
Then almost immediately, I set a sell order of the tokens I bought at the rate of 0.06079 for 800 CTP tokens and that will yield a return of 48 hive. Meaning I will be making a 7 hive profit.
I know 7 hive isn't a big deal but if the CTP coin I bought was 10,000 CTP @ 0.0530 which will cost 530 hive and I placed it on sells order at 0.06079 then I will be making 607.9 which will result in me making over 80 hive as profit.
This simple calculation further enlightened me that crypto traders make their profit from trading huge quantity and that's one reason they never stop buying.
Well, this is me trying my hands on trading. I will practice more and see if I am ready for the bigger market.
All other images were screenshot made from my account on the hive-engine.com market section