Tomorrow, Monday October 16, 2017, I'll be taking a personal challenge which I've wanted to do for quite some time now. I'm going to take .0134 Bitcoins and attempt to turn them into $500 by trading daily or semi-daily.
Rules
I am going to mostly use Bittrex for the trades since they have a robust amount of Alt-coins which would allow me to have a multitude of options. I also have accounts with Poloneix, Kraken, and other exchanges so I might switch over to them in the event that Bittrex doesn't offer a certain coin that I would like to persue.
I am going to attempt to trade everyday and will post my moves as I make them. I'd appreciate any feedback or direction that anyone thinks I should take.
No more than three trades in a day. I don't want to end up in a rabbit hole somewhere and lose everything.
I'll show my trades and explain why I chose this particular move.
Funds will not be split.
I'll be 100% transparent but without comprising any persoanl data.
Plan of Attack
I don't really have a plan. Since I'll have very little time to research, I'll be following volume and price on the trades I make and just hope I can squeeze out a small profit. I'm going conservative at first, only making small gains at a time. I'll be doing this while working a full time job and raising three kids so it'll be difficult to squeeze out multiple trades.
Crypto/Trading Background
I don't have a history of trading daily or anything like that. I have been involved in Bitcoin, Ethereum, and Neo since January of 2017. To date, I've made over $30k in profits on Ethereum and Neo alone but that was mostly luck and just getting in early and holding. I also have held multiple coins such as Monero, Lisk, AdEx, Qtum, and others. They've all been long holds for multiple months.
Where'd the $75 come from
I run a small mining operation out of my home as a hobby and the .0134 (at the time of publish is actually $72) came from 18,000 Siacoins I dual mined when I was mining Ethereum. I really didn't have anything else to do with them so I thought I'd try this challenge.
Support
I'll be looking for some help here. I don't have any offical trading exerience or anything like that. Other than playing around with the coins mentioned above, I have no history in stocks, finance, or anything in related fields. I'll have little time to do proper research so I'll pretty much be winging this on gut instincts.
Conclusion
I want this to be fun and would appreciate involvment from the community. If you don't know anything about cryptocurrience, no problem! This could be a way to get involved if you've always wanted to learn and never had the time or education. I'll help anyway I can!
So....Lets Begin!
Trades So Far
See all the trades as they happen:
Giving Back
A portion of the proceeds generated on this challenge will be given to a Steemit friend of mine who won a free trip to Lisbon for Steemit 2!
Thank you, friend! Make a mint!
@minnowpond1 has voted on behalf of @minnowpond. If you would like to recieve upvotes from minnowponds team on all your posts, simply FOLLOW @minnowpond.
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@reported has voted on behalf of @minnowpond. If you would like to recieve upvotes from minnowponds team on all your posts, simply FOLLOW @minnowpond.
To receive an upvote send 0.25 SBD to @minnowpond with your posts url as the memo To receive an reSteem send 0.75 SBD to @minnowpond with your posts url as the memo To receive an upvote and a reSteem send 1.00SBD to @minnowpond with your posts url as the memoTrading alt coins just seems too much like gambling. Not for me.
It is, you're right. There are small ways to predict some gains but not very many. All investments are gambles really, that is why I never play with any money that I can't afford to lose.
@alchemage has voted on behalf of @minnowpond. If you would like to recieve upvotes from minnowponds team on all your posts, simply FOLLOW @minnowpond.
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