Why i stopped trading atlcoins online

When i found out about the different ways I could make altcoins online i figured that if i’m earning small amounts of bitcoin from PTC sites and faucets then i could at least trade them by buying at a discount and selling at a markup price. I went to margin trading and i was making profit from most of my trades. With that being said I had to stop before it was too late, here are the reasons why:

1. “Your data bundle is depleted” – I got tired of seeing this web page from my ISP while i was doing analysis. In my last post i spoke about how PTC and faucet websites actually take more money from users by paying less than it could cost for the bandwidth consumed by loading their ads and videos. I feel that the same applies to trading websites, if you are trading with less than 0.01 bitcoin per trade then its possible that you’re losing more many than you realize simply by loading a chart with a new coin that is probably set to update every 15 minutes including each update for details of every trade made for that altcoin on the exchange.
2. The big fish eat the little fish – While many people enjoy trading altcoins that are volatile due their capacity for a fast pay, there are those who know the dangers behind trading in an unknown altcoin that that has little volume. These coins are all under the mercy of their founders/creators merely because these “whales” have so much of the altcoin that a single action like selling a lot of it will change the price of the altcoin dramatically. These whales can cause a breakout in the trend resulting with people losing a lot of money from what they had predicted to be a steady down/upward price movement.
3. News breakouts – I feel there is no place that offers up to date news about things happening with altcoins. Local communities don’t seem interested with providing international traders with news about their coins online foreign exchange which has a long list of websites that provide useful resources such as indicators like relative price index and moving average including highs and lows of several hours to years, altcoins don’t have this kind of power in fact bitcoin may be the only one that qualifies to have that much statistical information known about it.

This doesn’t mean that trading online is a bad idea, just don’t do it if you cant afford to because the time that many new traders spend starring at charts could be spent doing something a lot more productive and progressive. Trading can be very stressful especially when a coin you just bought is being dumped or has been dumped which means you are at a loss. My advice is this, exit old trades before the exchange charges you for keeping it open long,  exit your trade before the altcoin associated with it loses even more value and don’t trade with altcoins that have a low volume because a small group of wealthy people will get to take your money home.