Hello and welcome back to my weekly trading report! We’re looking at another week of no profit as the market is still recovering but honestly, I’m not worried about it. Previous years it took 40-50 days to recover from “Massacre of January”. Besides, this is a great time to buy in, in matter of fact that’s exactly what I did. Took some salary leftovers that I would usually spend on booze or entertainment and put it into crypto instead. This does mess up my total gains number a little, but to simplify things I’m going to reset the ‘total lifetime gains’ counter from next week.
So to pick up from my last week, which definitely was not a good week for most people due to the joys of a volatile market.
And as you can see it’s quite a risk portfolio. Lot of unknown coins in this listing.But due to them being at loss then I can’t de-load them yet.
Portfolio throughout the week
Portfolio at end of the week and now
The total numbers you want to see
- Initial investment: 765$
- Crypto worth last week: 2403$
- Crypto worth this week: 1998$
- Crypto % change this week: -16.85%
- Crypto % gains lifetime: +161.18%
+ additional deposit: +564$
= final stack: 2562$
How am I currently feeling about my progression?
Overdiversified. So, so, so over-diversified. But due to the negative trend and one of my primary trading principles (not to sell at a loss) I am currently truly stuck bagholding until market as the whole recovers. As soon I hit some green charts I will slim my focus down to 4-5 coins, period.
You must be thinking what happened? What are these low market cap coins?
But that being said, these coins have not been randomly selected. My explanation for these goes as follows:
- VRM – Amazing tech, amazing team, amazing community. This will soon become trending. Low supply coin, can’t see anything other than big gains for this coin. Safe pick.
- POLIS – High risk coin. Very high risk. 3 Weeks old coin and anonymous dev team. Red flags. It’s a masternode coin, so in general not a very good pick for trading. But it’s getting listed to Cryptopia next week. Currently listed on small exchanges so hoping for a strong profit off the listing alone.
- IC – High risk coin. Fresh coin, recently listed, anonymous devs. Also a masternode coin. Also getting listed to Crytopia next week. Hoping to make money off that listing.
- AMMO – High risk coin. Freshly resurected, available only on absolute crap exchanges, small community, crap website. But this a gaming coin and has a chance of having a real world case use. IF the dev team delivers anything close to a product, hell, even a proper whitemap and one single exchange listing I can see this skyrocket.
- PHR – The comfiest hold I have. Can’t go wrong with this. HODL.
- POLL – Solid project but only bought because it’s in a massive dip. Can see this x3 with relative ease.
- PART – A truly comfy hold. Can’t go wrong with this. HODL. Already sold at one peak, bought back in at dip – timed it perfectly.
- TIO – Honestly, I didn’t do much research for this. I saw it was very freshly listed, very fresh out of ICO, low market cap but the deal here is: listing to HitBTC tomorrow. So, anxious to see that.
- PIX – My crappiest hold. What should’ve been an industry changing coin with the most epic real world use turned into… endless money begging. They had a very succesful ICO and now they started a new donation round. All respect lost, this is truly a bad pick from my part, waiting for the market to recover and de-load this.
- KB3 – Shitcoin by a definition. Bought in at 2 sats. It’s currently less than 1 satoshi. What’s the play here? Had some leftover money in an exchange, saw this new coin. Thinking if I forget this for 6-12 months it could do a DOGE and eventually turn into my first and only x100 moonshot. Or just be a waste. We’ll see.
Plan’s for next week?
Patience. Hold it out. Start getting rid of my bags and try to de-diversify as soon the candles turn green again. Probably going to apply for a job at McDonald’s as well.
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