Turning $75*ish* into $500 Day Trading Alt-Coins Challenge

in cryptocurrency •  7 years ago  (edited)

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!

cryptocurrency adventure blockchain bitcoin money
7 years ago by

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      ·  7 years ago (edited)

    Thank you, friend! Make a mint!

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      ·  7 years ago 

    @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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      [-]
        ·  7 years ago 

      This post has received a 0.35 % upvote from @drotto thanks to: @banjo.

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          ·  7 years ago 

        @reported 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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          [-]
            ·  7 years ago 

          Trading alt coins just seems too much like gambling. Not for me.

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            [-]
              ·  7 years ago 

            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.

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                ·  7 years ago 

              @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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