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!