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.
Trades this far:
Day 1 BTS: +5% profit Day 2 VIA: +5% profit Day 2 ADA: Adjusted my stop and it was hit. Dead trade slight profit less than 1% Day 3: EDO: pending
I will show a complete trade breakdown on the next post.
Alright, here we go with Day 4 trade #5 I invested 0.0855047 B in LRC bought 1871 @ 4570 satoshi Sell target is: 4799 for 5% profit Stop loss: 4342
Your comments, agrees and disagrees are always welcome and appreciated.
Thanks for stopping by and have a great day!
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Bitcoin just had a nice breakout past 6800. This is good for altcoins once the dust settles. Til then, sell offs will occur and hopefully stops don't get hit.
Trade closed: stop reached
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Well, BTC had one heck of a nice breakout, but this unfortunately made my stop loss hit. Not much I can do here but take the -5% loss and move on. I believe I had the right coin and entry, just bad timing with BTC breakout. No regrets.
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I will wait for the dust to settle before entering any new trades.
i have been enjoying following redking. i joined his discord group, and im very glad i did, i would recommend that you all check it out! if you do join, let em' know that Andy sent yah! 1k to 100k, Lets Do It!!! :-)
PonziTrader
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Good time to add now?
redking75
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@AnuragSinghRathore, I moved onto a new trade
PonziTrader
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@redking75, Saw it too the pice is over the buy price. Lets see if i can catch it. thanks man
mattattack1
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I enjoy the challenge you've been posting about. Please keep it up! Obviously BTC had a crazy breakout to 7400 taking course over the last hour or so, do you recommend holding off on getting into altcoins at this time?
redking75
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@tmattharrigan1, Hi nd thanks for the support, this has been a lot of fun. I think BTC should slow down here and altcoins will rally soon after.
Baconneggs
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doing great so far. Btc certainly went off, was fun to watch. I'll be sure to check your bases post too, thankyou.
redking75
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@Baconneggs, Thanks for following and the support!
RJdev
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Hi, I like your challenge idea. Just a couple of remarks: do you think you could add some reasons for the expected growth, since from my indicators some of them seem overbought at the time you enter the trade. Also are your targets based on Fib retracement?
redking75
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@RJdev, Sure no problem. So, yes the RSI shows oversold, sometimes the RSI can show oversold for days when a coin is on a run. The other indicators are ok. CCI has been going down as the price has been increasing. MACD flipped up and has been gaining momentum since July 12th, My target is generated by Bases. this is covered in a post you can find in my profile, my Base Play strategy. As you can see on the chart I outlined the last 2 bases. LRC has just returned to its previous base and the target is the next previous base support. I believe with the momentum RLC can reach this target and this is the reasoning for entering this trade.