Trade #4 has been a nightmare. It took me forever to decide on what to pick since the market was all over the place. I was attempting to pick a coin that had a ton of volume but looked stable. I ultimately chose on NAVcoin(NAV). At the time, it had a relative high differential between the 24 hour high and the 24 hour low. As I made the pick it was in the downturn so I hoped it was prime for an upward run. Unfortunately, that never happened.
I ended up buying 90 coins at 0.00016446 BTC for a total of 0.01483778 BTC. Pretty much as soon as I made this buy the bottom began to fall out. It took a full week for it to recover even a little where I didn't feel like I was losing my shorts to sell at a lose. In the end, I was finally able to sell today for 0.00014846 BTC each for a total of 0.013339814 BTC.
Trade Stats
Trade 1 : Bought 108.75 ParkBytes @ Btc 0.00012353 and Sold @ Btc 0.00013347 for a profit of Btc 0.00108099
Trade 2 : Bought 0.33834449 Zcash @ Btc 0.04268662 and Sold @ Btc 0.04344294 for a profit of Btc 0.0002559
Trade 3: Bought 40.72 Pay @ 0.00035897 Btc and Sold @ 0.00036612 for a profit of Btc 0.00029131
Trade 4: Bought 90.25 NAVcoin @ BTC 0.00016446 and Sold @ BTC 0.00014846 for a loss of 0.00143964.
Profit
At 4 trades now and suffering my first loss, I am down to (at the time of this post) 0.01339814 BTC which is roughly $85. Luckily for me, the rising cost of BTC has made up for the money I lost in the trade. If I had broke even on the last trade, my pot should be at $94. So, I am still grinding it out. Hopefully, I can make a good choice on the next one and make up where I lost.
You must have hopped into NAV right after the rumor it was being picked up by Palm Research Group was busted...lots of people bought into the rumor it looks like.
i guess so. I didn't see that rumor but I'm most likely a casualty. For this little challenge, I'm not doing hardly any research and strictly going by volume/price fluctuations to see if it can be done. What's stupid is that it rebounded hard today and I would have made money if I would have held longer.
That's a killer. Your challenge actually inspired me to do my own with $98 starting last week. I am sitting at $117 right now but only because I rode the BTC rally hard. Now I need it to drop again so I can get back in.
Awesome! Glad to hear that! Yeah, the BTC bull is keeping me afloat which kind of makes it harder. My wallet is in constant flux. Keep me updated on your progress. I'd love to see what moves you're making.
Will do. I'll send you some replies when I make some moves. If btc would ever drop I could get back in hah. Almost considering selling the steem I have sitting around just to get back in...I know I just need to be patient it will come down eventually. Profit takers will make sure of it for a little while.
Sweet! I know what you mean. I think the hardest part of all this is being patient. I'm sure the bottom will fall out here again shortly. It always seems to.
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You've been added to my Following list for military veterans on Steemit. You can find us on https://steemit.chat/channel/veterans or https://discord.gg/fE4Xyje if interested.
Sweet! I'll be joining. Thank you!