Hello all and thanks for stopping by and following my personal challenge. I am attempting to turn $1000 into $100,000 by day trading altcoins. I started my challenge on July 14th with a bankroll of 0.16 Bitcoin that was valued at $1000 at the time. You can follow and see all my trades in my profile.
There is no nice way to put it, I am doing very bad. I am jumping in the trades too early or too late and am on a bad losing streak. Back to my basics, Base plays, with a twist. I will DCA buy if -5% is hit before my sell target, then make my new sell target my original buy in price which will give me 2 1/2% profit. What is DCA? Dollar Cost Averaging. Say I buy 100 shares @ $2 = $200. Then the price dips to $1, I invest another $200 and buy 200 shares = $200. Now I own 300 shares and have dropped my cost per share to $1.33 each. 100 shares @ $2 = $200 200 shares @ $1 = $200 300 shares total cost $400 = $1.33 average cost each
My base play strategy explained here: Click image below to go the the Base play strategy post.
After 26 days and 39 completed trades: Wins: 16 Loss: 23 Balance: 0.1517 B USD: $ 989 *Some trades may be pending and not yet included in my stats
There are too many trades to list. All my trades and stats for this challenge can be found in the link on my profile if you want to follow.
CAUTION: This challenge represents a small portion of my overall portfolio. To maximize the potential of reaching my 100k challenge goal quickly with just 1k, I am using most of my challenge bankroll per trade trying to build up my bankroll for the challenge. If you are following me, I do not recommend this strategy, but instead you should limit your trades to max 3-5% of your portfolio per trade. Please trade smart.
Alright, here we go with Day 29 trade #42 I invested 0.0337 B into LOOM. I bought 2269 @ 1485 satoshi My Sell target is: 1575 for 6.06% profit If the price drops to 1410, I will invest another 0.0337 B and buy another 2390 LOOM @ 1410 satoshi. My new target will be my original buy in price of 1485 satoshi for a potential profit of 2 1/2%. My Trade Stop loss: 1336 (-7 1/2%)
In case you are wondering why my buy price sometimes doesn't match the current price on the chart when I make a new post, this is because I post my coin selection to my Discord group first and then make a new trade idea here which takes about 30 minutes to complete this all. I am 100% transparent. I show screenshots of my buy price and amount on my Discord group. This has been a fun experiment and I enjoy sharing my journey.
Your comments, agrees and disagrees are always welcome and appreciated.
Thanks for stopping by and have a great day!
Trade ist aktiv
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Price dropped to 1410 and my DCA buy filled, new sell target is now 1485
Trade geschlossen: Stop wurde erreicht
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This is getting a bit frustrating. My DCA sell target was 1485, the price hit 1480 and now SL,
Take a week off bud, change to USDT and buy back in when BTC finishes correction. Or join Polo and start looking for shorts.
Sophax
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It doesn't make any sense to trade alt coins when we're in a bear market with BTC dominance at 52% and climbing. I don't understand what you're doing. Obviously, all coins will be drained of their USD value while BTC is crashing how can you not see that.
Romantoy
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Hi!
Let's Try ICX.
Would you check it please?
subrato1285
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why don't you make your title to - 1k to 0$ challenge
nDman_sk
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"This is getting a bit frustrating. My DCA sell target was 1485, the price hit 1480 and now SL"
This happened multiple times to me and I lost money :(
redking75
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@nDman_sk, As soon as my SL hit, the 4 BTC sell wall disappears? LOL. Cool.
BilimNehri
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@redking75, do you think someone is messing up with you because your trades are transparent?
Romantoy
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Not much threat since
the small portion is being
used in this Challenge.
I like the way you have
reduced the frequency
of Trades in Current Market.
(This should not STOP either P or L)
Let's Enjoy the Journey.