I wanted to try my hands at doing a little trading to make money. At first, I wanted to get into the stock market, but I felt that the market was a little bit too overwhelming for me. I wanted to try something that was a little easier, so I looked into cryptocurrency. There are a lot of currency exchanges, but I chose Yobit because it looked easy to read and it had all of the currencies that I wanted to buy. I put a little bit of my money into Bitcoin, Litecoin, Ethereum, and Doge and heavily watched the exchange.
My goal was to make money by selling when the value of the currency went up enough, and then buying when the currency dipped to lower levels. I had to make sure that the currency raised and lowered to a good enough amount that it would be worth a buy or sell, because a little bit is lost in the transfer of currency, and anything negligible would just be a waste of funds. I watched it like a hawk, and even had the website pulled up on my phone while I was at work.
The first time I made a sale, I pondered a lot over whether I should do it. I saw one of the currencies going up a considerable amount and wanted to hold on a little longer before selling, because I thought it would raise even more. I also knew that holding would also bring the possibility of the currency value going back down, so I decided to act while the value was still good. The value raised a little bit more after that, but then it dropped down again to an amount that was way lower than what I sold. That was my first profit from an exchange.