Topic: Trying to turn $1000 into 100k by using leverage wisely. Need ideas. (Read 544 times)

huh 100k from 1000$ You should try to earn 1000 first.
I wish you luck.

Try using spectre dot io i have seen their apps. If you really like laverage or you can laverage on poloniex as well.but just be very carefull in crypto world using laverage. Without laverage you also could get crazy profit or crazy lose. With laverage ? You will lose your money between blink of an eye.

The risk is right there waiting to devour you. That is the truth with margin trading with altcoins. Even in Forex, the use of leverage is really a very deadly double-edged sword. It gives you profit, lots of them in a day, and in another blink of an eye all those profits including your capital investment are gone with the wind. But still there are people who are using it. These are the brilliant and masters and experts with leveraging and margins. Learn the art first before jumping into it. 

You are probably never going to get that amount of money by only investing one thousand dollars, you require a lot of skills in order to do that, and i am sure that you are a newbie trader because i have never heard about an exchange who let you use leverage for altcoin trading (maybe there are some forex brokers that let you do that) but that is a completely different thing.
Altcoins trading is very risky! and with leverage, you are going to lose it all in just a few secons, be careful with that, i have been in the same situation as you.

Yeah honestly, most people that made such money either invested really early in BTC and really believed in it or simply forgot about it. Or people who invested in ICOs that went really well. Some picked coins early that were under the radar such as antshares at 12 cents. Best is to get people around you with whom you can share tips and such maybe you get a tip about a coin that will perform like NEO. Do research into low coins, join ICOs you think are gamechangers. I think you shouldn't try to ''chase'' profits because more likely you will get the loss instead.

Don't be greedy by just trying to look for as much as possible within the shortest period of time.. be smart and the work will be done for you.

Split it up into various altcoins rather than going all in with one coin. Pick some good reliable ones like NEO, and then pick some privacy coins which is becoming a growing trend. ICOs are risky but can bring high profits if you pick the right ones.

The best money I ever made from forex was from selling automated trading programs (expert advisors).  That's not to say that I was selling a money making machine, or that expert advisors will help you to trade profitably.  It is to say that very little profits could actually come from trading forex, and lots to be made by selling a dream of making it rich.  My advice would be to stay with crypto trading, and not forex anymore (because, of course, this is also what I've decided for myself).  Crypto really takes trading back to the basics of fundamental analysis, and I believe there's a lot more potential for profit because a vast majority of crypto traders are novices (remember for you to make money, that means someone else is losing money).  Too many experienced traders in forex now.  Make yourself a success story by researching and educating on your own as many coins as you possibly can, and then you'll know like "hey, this coin is really undervalued, I just read about such and such", etc.

I swear, the most money you are going to make for your time is by researching crypto coins.  You can even think of it as an hourly wage.  The more you research and are 'in-the-know', the more you'll be able to exploit the market for your own gains.  I, myself, feel like I have identified a few major sleepers and am acquiring as much as possible before they explode.  Regretably, I won't be able to share that info because it would work against my own best interest for trading.  But you will find your own sleeping giants without a doubt, if you do your research.  The announcement forum here is a good place to start because you're getting the news directly from the developers themselves.  News sites can also be helpful.

Having a forex background, like you do, is also very helpful, because you already understand the importance of position management and setting good take-profits and stop-losses.  Just do yourself a favour, and don't look at the 15 minute and 30 minute charts.  Stick to the 4 hour or the daily ;-)

Please be careful with your target. Be more realistic and do not chase pumps.

Most of them who have made over 100x return from altcoins is by investing in ICOs or buying few alts which were trading at very low prices but get boomed overnight. Ripple is one of the example where people have made more than 50x over a month period.

Leverage is only used during margin trading in crypto and most of alts are not supported for margin trading, only few top trading coins have margin trading options.

Thanks for your reply. I certainly didn't take as an insult. I know that my goal is lofty, especially with a rather limited capital. I guess the best advice is what you stated, strings of smart trades over and over again.
I was just curious what people like me do in regards of leverage when their trading capital is  limited.
Since you traded Forex before, do you think that trading cryptos is offering better chances or should I go back to Forex (I have some Forex experience) and start trading micro 10k lots and slowly build the account so that I could trade full 100k lots eventually?
Do people day trade a lot when it comes to crypto currencies like with Forex, or is crypto trading more a swing trade thing in your honest opinion?

This reply, I sincerely mean to be helpful and not insulting.  I've been in your situation.  That kind of 'planning' WILL lead to ruin, and your $1000 is going to be lost.  You can't set a target for your net gain like this.  You can set individual stop-loss and take-profit points for individual trades/investments, and after years of smart trading you will find yourself slowly reaching your goal.  Strings of smart trades and smart investments are what will help you to become profitable.  I've done this with online poker, online sportsbook, forex trading, and now crypto trading.  I've been able to trade or wager successfully in all 4, but only after suffering heavy set backs caused by my lofty goals.

Aim small, miss small.  Do this over and over and over and over and you will find success.  Aim big, miss big, lose all your money.  Maybe today, maybe a month from now, maybe a year from now, you will see what I've said here will be true.  Unfortunately, a lot of us learn the hard way.  You don't necessarily have to.

Risky business. Good luck!

I admit freely that somehow I missed the boat of the bitcoin bullrun (and of course during 2017 there were also some altcoins giving the chance for life changing profits)
Now I stand here with a meager $1000 and read in this forum about people having made fabulous profits with altcoins.
But back to my initial question. In order to turn $1000 into 100k,  your investment needs to rise in value a 100x. I think it still can be done, but not without the help of leverage. I am aware of course that leverage is a two edged sword and you can loose your investment in the blink of an eye if you are over-leveraged and receive a margin call.
But wisely used it might maybe help me to reach my stated goal. Of course this supposed to be a medium term project for the next 18 to 24 months.
Since here are many much more experienced traders than me, I would love to get some input by traders who have used leveraged trades to their advantage.
I would like to learn how high people leverage, what kind of stop-loss they have with their positions, etc, etc.