Hello all and thanks for stopping by and following my personal challenge. I am attempting to turn $1000 into $100,000 by the end of the year 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.
The first week, I made a few mistakes that cost me. Being greedy never pays off. My last couple days trading has been rough, I have lost back some of my profit. There is no need for me to panic, I will keep on working and push forward. Last 14 completed trades: 9 wins 6 loss
After 17 days and 26 completed trades: Wins: 14 Loss: 12 Balance: 0.1762 B USD: $ 1362 *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 18 trade #28 I invested 0.0802944 B into GVT. I bought 84.19 for an average cost of @ 95370 satoshi Sell target is: 100150 for 5.01% profit Stop loss: 91080 (-4 1/2%)
Many alts look like they are getting ready to rally, GVT has already started to breakout.
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 active
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GVT was moving well when I entered the trade. The BTC drop stalled the momentum and cause a small dump off. Momentum is back and hoping to hit target soon
You are champion.
But i am loosing my money in crypto now.
No hopes.
Lost All.
Pray For Me To Jesus.
ChartWolves
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Congrats on trading quite successfully in this unstable environment... I'm curious what is your selection process for picking the coins you do?
Coinmarketcap? Volume on your chosen exchange? Just large time frame bottom observation? I'm curious!
redking75
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@KrisCarne, Thanks for the support. A few simple ways I look for day trades are trend lines, support and resistance and breakouts.
ChartWolves
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@redking75, Cool soo just find a coin and go off it's general T.A, when you say breakout's do you chase some trades?
redking75
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@KrisCarne, I spend hours a day on charts setting alerts. When an alert goes off I confirm with the indicators I use.
ChartWolves
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@redking75, Perfect! Nice Work... Do you consider 24h traded volume before entering?
redking75
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@KrisCarne, I don't worry too much about volume. Many coin breakouts occur with less than average daily volume and the volume will increase upon breakout.
ChartWolves
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@redking75, Yeah exactly, was thinking take a screen shot when you set the alarm then compare the increase on breakout for extra confirmation if larger amounts come in... I'm probably being too technical haha.
Just one more question what price did you buy your BTC at... and will you hault the process or go to USDT if we break below your buy-in? Obviously your goal is 100k not a set amount of BTC and an extended bear market will make your goal a lot harder to achieve.
redking75
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@KrisCarne, BTC was $6300 when I started my challenge. Hopefully we don't see 6300 again so I don't have to make that decision =)
ChartWolves
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@redking75, Haha for your/our sake I hope not. But an ETF rejection I believe we will retest the the low 4-5k region.
But i am loosing my money in crypto now.
No hopes.
Lost All.
Pray For Me To Jesus.