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Chat archive · 2017-10

AppleMiner · · #40876

im guessing you are doing a buy-sell to convert ltc to btc or vice versa?

dog1965 · · #40877

@AppleMiner :  nothing much justr pissed off trying me first trade cant get the hang of it!!!]

AppleMiner · · #40878

which site are you on?

dog1965 · · #40879

cryptopia this is my first one but its not selling I think its to high. 103862614 LTC/BTC Sell 0.01520000 0.46397000 0.007052 0.46397000 0.00001410 16/10/2017 4:47:00 PM

dog1965 · · #40880

AppleMiner wrote: which site are you on?
cryptopia this is my first one but its not selling I think its to high. 103862614 LTC/BTC Sell 0.01520000 0.46397000 0.007052 0.46397000 0.00001410 16/10/2017 4:47:00 PM

Forum notification · · #40881

has started a new topic: Update, registrations closed

AppleMiner · · #40882

I would suggest starting out with gdax

AppleMiner · · #40883

they have a USD bank account as a go between, makes it easier to get hang of trades.

AppleMiner · · #40884

so you can set the BTCs to sell when they reach like 5800

AppleMiner · · #40885

and the money goes into your bank.

AppleMiner · · #40886

then you can transfer it, OR, after the BTC sell, set a buy order for a few days from now

AppleMiner · · #40887

to BUY the LTC when they hit like 52$

dog1965 · · #40888

AppleMiner wrote: I would suggest starting out with gdax
that sounds like a good idea. is that order asking to much.

AppleMiner · · #40889

on gdax you can sell btc like to .00001 of them

dog1965 · · #40890

?

AppleMiner · · #40891

so as long as you have over that you can put in a future sell order, specify the price you want, click on your balance and click sell

AppleMiner · · #40892

and when the price climbs to that amount it will auto sell and put that amount of cash in your bank

AppleMiner · · #40893

then you can use that to setup a buy order on ETH or LTC or BTC again

dog1965 · · #40894

fucking coinbase want a picture id now if you try to to withdraw more than 30 USD in ltc!!!!

AppleMiner · · #40895

you could just have 1 BTC and sell it when it hits 5800, then buy it again when it hits 5500, and repeat and repeat

AppleMiner · · #40896

and you could just make 300 dollars every other day

AppleMiner · · #40897

you dont even need to jump from coin to coin, you can just sell LTC when they hit 70, buy them at 55 and put the order in to sell at 70 again, each time through you have a greater balance

AppleMiner · · #40898

compunded interest is FUN

dog1965 · · #40899

AppleMiner wrote: compunded interest is FUN
so your selling high put money in usd wallet wait for drop buy again when it gets low and just repeat it again no ?

AppleMiner · · #40900

yep

AppleMiner · · #40901

but i like to hedge my bets

AppleMiner · · #40902

so I have some in LTc and some in BTC

AppleMiner · · #40903

and some cash to buy either as they go up or down

dog1965 · · #40904

AppleMiner wrote: yep
so do i I have 1400 usd ltc and 2000 usd btc.

AppleMiner · · #40905

but once you have 1000 in LTC, if you are getting 10%, and 10% of $50 ltc is $5. so if you buy LTC at $50, sell at 55$ you made 10%. 10% of 1000, is 100. So literally in an hour you cuold make $100 off $1000.

dog1965 · · #40906

I my ass well cancel that order and sendd it back to coinbase.

dog1965 · · #40907

wow

AppleMiner · · #40908

the mining is just a way to get more coins to trade around.

AppleMiner · · #40909

but mining is small potatoes compared to where you can make bigger profits on the trading

AppleMiner · · #40910

some sites have LTC to BTC, so there is no intermediate value to judge on

AppleMiner · · #40911

so in that case you have to watch 2 variables at the same time, and be pretty good at math and stats

dog1965 · · #40912

now I gotcha that is cool I am so tired of mining.

AppleMiner · · #40913

also it helps when there is a good line graph showing where the two plot vs each other, thats a helper.

AppleMiner · · #40914

mining is, pick a site, make coins.

AppleMiner · · #40915

trading is, take those coins and roll them into some more money.

AppleMiner · · #40916

there are 2 sides, the mining and the trading.

AppleMiner · · #40917

dont ignore 1 for the other.

AppleMiner · · #40918

well, really once you have money in the market, the mining is silly money compared.

AppleMiner · · #40919

22$ a day per L3, or.... a third of a LTC if I sell at $100, thats $33 a day.

AppleMiner · · #40920

1 trade, take 5 days, I can make $1000 bucks

AppleMiner · · #40921

thats 200 a day and I didnt have to pay electricty or heat or sound.

AppleMiner · · #40922

you can LOSE it just as fast dont get me wrong you have to be willing to sit on it until its a profit and that can take weeks if you make a bad trade

dog1965 · · #40923

so should I leave that order on crytopia ???

AppleMiner · · #40924

and until then your money is tied up and you cant get at it, much like a 401K

AppleMiner · · #40925

I cant say cuase i cant really figure what the numbers ate

AppleMiner · · #40926

are

AppleMiner · · #40927

btc, vs ltc, vs ratio of the two

AppleMiner · · #40928

is it B:L or L:B ratio

dog1965 · · #40929

l:b ratio

AppleMiner · · #40930

id have to see that whole page to see what the columns were and what values they are using on it to figure those values

AppleMiner · · #40931

for the other exchanges I just go in, find what people are selling kittehcoins at

AppleMiner · · #40932

find a value between the lowest and 2 or 3 down and put a sell order in

AppleMiner · · #40933

and in a week or so ill have some doge to convert or already have ltcs to move out.

dog1965 · · #40934

hold let me take snapshot

dog1965 · · #40935

@AppleMiner :  here you go.... https://s1.postimg.org/59a7941x1b/OHNO.png

dog1965 · · #40936

I thing I am wishing in one hand and shitting in the other lol.

AppleMiner · · #40937

ok

dog1965 · · #40938

I over did it didnt I

AppleMiner · · #40939

you have them set to sell when they pop to 76$

AppleMiner · · #40940

if you dont plan to use or spend that money until christmas

AppleMiner · · #40941

and if the sell order can stay up for that long, some sites you have to put it back up every 2 weeks or whatever

dog1965 · · #40942

how do you tell ?

AppleMiner · · #40943

but if you let that go and keep renewing it, id wager between now and christmas it will sell

AppleMiner · · #40944

take the price of BTC

AppleMiner · · #40945

i just used 5000 for fast numbers, and multiply it by the rate

AppleMiner · · #40946

so if its 5500 now, X .0152

AppleMiner · · #40947

if you are selling the LTC into btcs

AppleMiner · · #40948

i did the math backwards

dog1965 · · #40949

how did you figure that out $76.00 I am a nobe.

AppleMiner · · #40950

you are selling .4640 ltcs into btcs on that sell order right?

dog1965 · · #40951

@AppleMiner :  yes

dog1965 · · #40952

I look at the high low number when I did it. need formula ?

AppleMiner · · #40953

so that ratio

AppleMiner · · #40954

is pretty close to 1/66

dog1965 · · #40955

ah gotcha been at it all day brain dead!!!

AppleMiner · · #40956

so for every 66 LTCs you would get 1 BTC

AppleMiner · · #40957

now if you want to get more value for your LTCs

AppleMiner · · #40958

say you only want to spend 50 to get 1 BTC cuase you are thrifty and fruggle

AppleMiner · · #40959

1/50 would give you a ratio to put in to sell your LTCs at so you only have to pay 50 to 1 BTC.

AppleMiner · · #40960

so you decide first how many of your coins you want to have to spend to get 1 of the higher value coins.

AppleMiner · · #40961

and then set that ratio to sell the coins that you have.

AppleMiner · · #40962

that make it any easier to understand?

AppleMiner · · #40963

if you want to sell it right now.

AppleMiner · · #40964

take the price of LTC, divide it by BTC price, put that ratio in

dog1965 · · #40965

@AppleMiner :  ah thats smart gotcha!!!!

AppleMiner · · #40966

and it should sell now or in the next few minutes.

AppleMiner · · #40967

thats why Gdax starting out is a bit easier to use

AppleMiner · · #40968

you sell coins into USD $$$ something thats a unit you can wrap a head around

AppleMiner · · #40969

the stuff you been using your whole life and has a set value in your mind.

dog1965 · · #40970

were do you find the ratio quick ????

dog1965 · · #40971

a sell to usd avoid fees no ?

dog1965 · · #40972

ah

AppleMiner · · #40973

wasnt quick, I had to try 6 numbers to get it close.

AppleMiner · · #40974

knew I was looking for a ratio close to .0152

AppleMiner · · #40975

had to play bwteen a few to nail down 1/66 to get it close