Topic: 365 day 100$ trading challenge. 135% profits in only 35 days!!!! - page 16. (Read 25083 times)

Have a few questions:

-I see you started with btc and have now moved over to trading ripple, what made you change?

-How many hours do you spend each day on this challenge?

-I know this only a small amount but do you believe the FUD against Tether and how it is really not backed by enough USD?

I know. but this is just a challenge to push me to the limit. I hold several accounts where I trade and I have coins that I hold. But this is a fun thing to do in beween.
I saw lot of participants don't believe I will succeed in reaching my goal I have set. But at this point the compounding doesn't have much effect. As long as I stick to the 1% daily and 100% compounding it should be achievable. And all extra percentages I can take in between are a bonus and help me achieving the goal.

But thats for the follow and time will tell where this will end

I'm going to follow your quest to see where you end up. Just for reference: in 2017 you could have almost made that much profit by holding Bitcoin for a year, and with several altcoins you would have made a much larger profit (Stellar (XLM) for example). But of course, this is in retrospect, after a large bull run. This could happen again, but it's virtually impossible to predict when and for which coins.

For the prediction contest:
-LoyceV
-NO
-1,000$
This is based on the assumption that Bitcoin goes up 10x, altcoins on average go up a bit more, but you lose the difference to trading fees bringing you back to 10x.

Little information about my strategy

I have had several questions in replies and in pm in what way I determine when to enter and when to exit the market.

Actually the strategy I use is very simple and can be learned and applied even by a 5 year old kid. To apply the strategy I use you only need to set the Bollinger bands. This strategy can be applied during a bull but also in a bear market.

Very often we see that when there is a dip in the market and it breaks or touches the lowest Bollinger band results in a bounce back up. Check the screenshot. I missed this opportunity cause I was having lunch but the strategy could have been applied here.
Make sure you set the chart at 6 to max 24 hours and set candles timeframe @ max 5 minutes.



You notice that there was a dip and the dip touched and even broke a little through the lowest Bollinger with the lowest point at 0.35754$. You also notice that within 10 minutes after this happened it bounced back up and you could have taken a profit. I mostly calculate 1% profit as soon as I entered the market. In this example I would have entered around 0.3577.

0.3577* 1.01 -> So to make my 1% profits I would place my sell order at 0.36127$. Of course the fee would need to be deducted but still it will leave you 0.8-0.9% profits.

In the picture you notice that this strategy could have been applied in 2 other occasions earlier today. So this strategy could have been applied 3 times in last 2 hours time frame and this only on 1 coin. On a daily basis there are tens of different opportunities to apply this strategy and to take some profits.... even when we are in a bear market.


It is a very simple strategy but it requires patience and monitoring. So if you do not have time to sit behind your screen and monitor the market than this strategy is not for you. But if you have 1-2 hours daily I am sure you will track different situations that you can apply this strategy.


Do not expect huge profits. My goal is to take 1% on every occasion but sometimes I need to satisfy myself with less than 1%. But well a profit is a profit. Larger profits can be made if you are lucky that the coin you entered is pumped right after the dip occurred.

One of my advices for people that want to apply the strategy do not always put your full balance in 1 position. There is no 100% guarantee that when a candles breaks the Bollinger it will go up again. In most cases it will but there are daily situations that there is a small 'crash' and the coin keeps dipping. So always make sure you leave some balance to possibly enter the market again at a lower point.

My advice:
If you notice a dip touching or breaking the Bollinger you can use up to 50% max of your balance. If it bounces back up you take 1% and an overall 0.5% on your balance. If you see it keeps dipping you can put 2 more buy orders of 25% each.


Hopefully this explains a little bit more how I work. I am not the type of guy that analyses a coin or follows the news. I follow my instincts and just work on the bollingers and the dip because I know this strategy works in both markets, bull and bear market.

Day 5

start amount 114.85$


Trades

Pair: XRP/USDT
entry: 0.3647$
Exit:   0.3710$
Bought: 114.85$ (314,91XRP)
Sold:     115,381$

Pair XRP/USDT
entry: 0.367$
Exit:   0.3719$
Bought: 115.38$ (314,33XRP)
Sold:     115.66$

Pair: XRP/USDT
entry:0.3536$
Exit:  0.3621$
Bought: 115.66$ (327.09XRP)
Sold:     117.35$

Pair: XRP/USDT
Entry: 0.3567$
Exit:   0.3610$
Bought: 117.35$ (328XRP)
sold:      118.76$

Pair: BTC/USDT
Entry: 3,688$
Exit:   3,719$
Bought: 118.76$ (0.0322BTC)
Sold:     119.76$

Pair XRP/USDT
Entry: 0.3600$
Exit:   0.365$
Bought: 100$ (277,77 XRP)
Sold:     100,65$

End balance after day 5

I just put the sell and buy amounts in the updates. I am not going to put fees manually with Every trade. I have lots of other stuff to do as well. But i Will try to post my trades more detailed from now
About entry and exit points.
I told before i use bollingers combined with dip strategy. I am buying when a dips Goes below the bollinger. Mostly after a dip through the bollinger the price jumps back up (mostly not that much 0.5-1.5%). So i exit the market pretty fast after a trade.

Will also try to post visuals of my entry and exit points

But I seem to miss the reasons why (and timing of when) you decide to buy/sell... 

Why don't I see the fees in your daily reports... 

It gives me an idea to follow your challenge with my account on binance. I think the profit you take was not too big and as long as you can get a profit, you close it right away and moves into another coin. I think I will do as what you did and maybe I need to send some amount of bitcoin first to binance so I can start to follow your journey. But still careful with the trade because right now, bitcoin price is down and the altcoin gets the impact too.

I could so that but what if iT isnt a flash crash and the coin i put the order on crashes 20-30%. Then Maybe couple days of work are gone. I rather go to sleep with the knowledge that i wake up my fiat value is just the same and i can start searching Good positions

Yes, Compounding is the key, Warren Buffet made the majority of his fortune after he was 60 years old.

I know you said that you always convert to USD at the end of the day but don't you think it is worth leaving in some really low ball buying offers overnight incase of a flash crash?

Definatelly. Im in iT for the long run. Rather build a Nice profit on the long run then chase fast profits in short tem and burn my ass 

This strategy takes a lot of time and patience. But if it works it will eventually reward in the end.

If you read my replies you will find out how I trade. I do not hold any crypto at the end of a trading day. This challenge is all about increasing my Fiat value. However if I for example take a position in XXX/USDT and suddenly it takes of 3-5-7-... % profits then I have luck. But my goal remains the same, 1% daily combined with 100% compounding.
So this also means that I make 5% in 1 day that I will not relax and quit trading for 4 days. No matter how much profits I make in 1 day or if I reach my goal earlier, I will keep trading until I traded exactly 365 days.

Thx for support. Do not hesitate to join the contest


Note: About experience. Since 3.5 years this is my fulltime job. After selling my business I took a course and since then I trade crypto as a daily living. I have 2 small companies but they are run by my wife. I am trading crypto as a full time job

Great challenge, also like the way you treat people who follow you during these 365 day, prizes are good. Do you have past experience or you got some knowledge and now decided to try your skills/luck? Also as you said, your main target is value in usd so if bitcoin rises and rises, you just hold them but value in usd increases, is your goal achieved? Bitcoin costs 1000$, become 1100$ in 10 day, so you profited 10% in this ten day but number of btc is same and in reality you did nothing, is goal still achieved?

im trading on binance. just because there fees are lowest on the market and I very often take micro profits. On other exchanges it would cost me too much

Ok I'll go with $5920.

If you don't mind me asking what exchange are you using?

Indeed, with larger amounts it would be more difficult. However this is only a test account to show people a nice amount can be made in 1 year if you keep compounding your profits. I have several other trading accounts as well and to be honest the same strategy works as good on a trading account with 25 or 50k starting balance.
The only difference is that you must spread your amount over multiple smaller orders. Placing an order of 25k or 50k on some markets is to high and will create a wall. In my larger accounts I mostly only trade on the top volume pairs.

Do not hesitate to join the contest. Fun way to make some free cash at the end of my challenge!!!

This is a great thread and your doing great so far.  Now if you started with $1million you already would of made over 100k. well it wouldn't work out the same due to large volume and you may have gotten nervous with that much money.

I know thats why I focus in this challenge on fiat value. I do not care what the prize of BTC or alts are or will be. I end every day with fiat so I do not care. goal is to keep the fiat value steady and increase it to reach the goal