After one week of crypto trading, I’ve learned a lot and have managed to make a solid profit. I want to keep these short, easy and simple to follow.
Initial investment and bankroll
Having seen that Crypto is about to completely take off and has reached a new paradigm, I decided to take the money that I’d spend on: clothing, drinking, gambling and cheap tech and invest it into this instead and see how this goes. Please note, this is not borrowed money and I am only using money that I can afford to lose.
- 14/12/2017 1.8 Litecoin (LTC )worth of 587.5$
- 30/11/2017 0.01693302 Bitcoin (BTC) worth of 178$
Total investment: 765,5$
Due to my phone breaking down I lost my Blockfolio trackings and am using data from various platforms, to simplify this I will provide only round numbers.
- Bought POTCOIN in 2000 sat, sold at 2010, minus fees = no profit made. Had the opportunity to sell at 40% profit (heard the rumour right on time) but got too greedy.
- Used 50% of BR (Bankroll) to buy MUSICOIN. Bought in at 148 sat, sold at 10% profit.
- Used 50% of BR to buy RLC. Sold at 4% profit.
- Used 50% of BR to buy Bitcoin Gold (BTC) sold at -5% loss
- Used 50% of BR to buy Monaco (MCO) sold at 10% profit,
- Used 50% of BR to buy SYSCOIN (SYS) sold at -15% loss.
At this point my bankroll was pretty much or bit less than the original investment.
- GBYTE. It made about 100% of growth and I literally caught it rising while analysing trends, thought it might be an accidental spike and did not buy in. Ouch.
- ADA. It made about 150% profit last few days and I actually have had a good amount of ADA before but sold at very small profit. Ouch.
- Ripple. No comments needed.
Why I’m staying away from ADA and Ripple despite the insane growth? I follow a very basic trading rule: Never buy at ATH (All Time High). Don’t get me wrong, these coins are great but my bankroll and diversification is too small and weak at this moment for longer HODLs.
This week’s trades:
- Used 50% of BR to buy Litecoin (LTC) and held for 3 days, sold for no profit but made fees return. I had a good feeling that LTC will skyrocket and it’s getting an insane amount of hype. But I’ve learned that Litecoin truly is a long term coin and is absolutely not fit for traders. This coin is unreliable and can’t keep pace with BTC and holding it will make you lose out. Sadly.
- Used 50% of BR to buy Gnosis (GNO). Sold at -20% loss. This is a huge shocker. Gnosis is a very well developed coin with an actual applicable use, it’s on a very strong uptrend and the best part? Circulating supply of 1,1mil coins. That’s right. This looks as if it can only go up from here. Honestly, I’m considering buying back into this.
- Used 50% of BR to buy Status (SNT). Sold at 90% profit. Status, much like ADA, is an ETH based coin that serves actual purpose and provides value. I understood it right off the bat, these guys have an insane dev team behind them and this could easily be a long term investment. I currently cashed out of this coin due to unnaturally too big of a spike. Sell high, buy low. Definitely planning to buy back in future.
Current status and bankroll
1367$ = 78.58% profit compared to last week and 78.58% profit compared to starting date.
It’s been a wild week and I am hyped. As you can see I’ve made a lot of bad deals, despite all the signals being there and getting lucky with just one. 9/10 times just holding BTC would’ve been more profitable for me. Insane week. I already got some trades for the upcoming week and we’ll see how that goes.
Please leave a comment if you find this interesting and wish me to continue doing this.