My $1k to $100k Challenge - Day 2 Trade #41 - QKC
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.
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 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 28 trade #41
I invested 0.03659344 B into QKC. I bought 6266 @ 584 satoshi
My Sell target is: 617 for 5.65% profit
If the price drops to 554, I will invest another 0.03659344 B and buy another 6605 QKC. My new target will be my original buy in price at 584 satoshi for a potential profit of 2 1/2%.
My Trade Stop loss: 525 (-8 %)
Click image to expand
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!
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 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 28 trade #41
I invested 0.03659344 B into QKC. I bought 6266 @ 584 satoshi
My Sell target is: 617 for 5.65% profit
If the price drops to 554, I will invest another 0.03659344 B and buy another 6605 QKC. My new target will be my original buy in price at 584 satoshi for a potential profit of 2 1/2%.
My Trade Stop loss: 525 (-8 %)
Click image to expand
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:
***There was an error on my chart***
Original sell target is 617 satoshi
Original sell target is 617 satoshi
Comment:
DCA buy activated. New target now is 584
Trade closed: stop reached:
Oh man, even my bread and butter is losing now, lol.