How easy is it too double your stake? I mean it's dependent on a lot of things not least how much you actually start with but is it possible in a month?
Well that's the challenge that was smacked down by the missus last week. I shall describe the events of the day.
The good lady enters the room, the daughter is sleeping for the night. My face appears to be surgically attached to my Chromebook. She looks over, somewhat condescendingly it must be said.
'Steeming?'
'Pfft, I most certainly am not woman. I am trading. Now quick, wench me up a cup of tea.'
note: artistic license used!
She sat down and we chatted. During the course of the conversation we talked about crypto trading. As with all mainlanders she was sceptical. Which culminated in her saying.
So if I gave you a tenner* how long would it take for you to double it?
*a tenner, also known as a 'Bob Fenner' is 10 British pounds (GBP)
Double it?
I lol'd like a donkey eating a stubborn carrot. Then leapt to my feet and drew a couple of imaginary pistols before blasting an imaginary pigeon out of the sky.
'Two weeks baby.' I exclaimed bullishly.
She snorted, somewhat derisively it must be said. 'I will give you a month. Enjoy.'
Then like a savage tornado she wheeked a Bob Fenner at me and was gone.
So of course, obviously the first thing you think is well this will be easy. Then you so and think. Hmm, will it? So your second thought is - I could just lie? But then pride kicks in and like a mouse standing up to a mighty lion I decided to accept the challenge.
So, to begin. I quickly exchanged the tenner via Bittylicious. For ease of tracking I purchased 0.01 BTC. this was a few pennies more than a tenner but looks so neat.
So, I transferred it to Bittrex and I was good to go. But what to buy. Using my amazing trading acumen built up over months of reading crypto posts on steemit I decided to go all in on New Economy Movement.
Well, it had a general upward trend. And some people said some nice things about it :0)
Of course within minutes of buying it took a downward bomb. In the trade we call this being dry humped. What the actual fuck? I thought. Am I going to have to go back to the good lady with my bushy tail between my legs and admit defeat?
I persevered and didn't let the fear get to me. I had faith in that general upward trend it was showing. A faith that paid off over the next couple of days.
Two days later
Hot sex donkeys!! XEM had gradually crept up to 2940. I was back in the game!! I sold as it had seemed to reach a plateau.
And what do you know? I was right, it started to take a tumble downward. I rocked back in my chair, an evil laugh spilling from my mouth.
Fools piss where wise men fear
I nodded sagely at my own wisdom. But wait, what was this. The price had dived down but halted and then seemed to be recovering? The pattern of trades was skittering back up. Dash it. I thought. I am buying back in on the dip!
This is known in the trade as stroking the dolphin's beard
So I bought 350 back at 2892. Then went to bed. Miraculously, in the morning it had crept up to 3942!!!
Knowing how fickle the markets can be I decided to sell as it was sitting at plus twenty percent profit. Now I know some people would have waited and waited to find the peak...
And indeed the price actually continued to rise for a while. But a wise man once said (me)
A real profit is better than an imaginary one any day
Sure enough later that night the price absolutely tanked!
So here I am, one full week in and about 36% in profit. Can I double up in two weeks? Will it take a month?
Will I even be able to do it at all?
Let me know what you think. I shall update next week on my progress!!
Note, none of the above is to be taken as trading advice. If you are looking for buffoonery however then yes, please feel free to follow my antics
Fold the ten in half, then it will look like double.
Lol, a fine solution!! Might have to :0)
A real fun read and a great challenge, maybe I should do the same... ;) Thanks for sharing and a super high five on this! Namaste :)
Super high five right back atcha!! Cheers man!! Its well worth a shot with a small amount like this. If it all goes wrong you havent lost much!
I shall sanctimoniously say that @sift666 and I are doing our trading together. Two heads are better than one. We keep missing the troughs on NEM, but have done ok on some other things. The couple that trade Cryptos together stays together! Well, unless everything tanks next week.
Thats a good idea! Although I like to think that if one of us stays out of it if it all goes pete tong we wont go down together!! :OD
Yes, maybe that's a good point. Although we do only "invest" what we can afford to lose, so we can't go down too far.
Invest the house!! Go big or go home!!! Lol, I do jest of course!!
I expect nothing less than a jest from you, and would be disappointed not to get one ;-)
Oh, and I'm expecting you'll take that 20GBP and treat your good lady to a nice meal at the Battlefield Rest. Maybe when your little angel is away visiting rellies?
If I can get any of the rellies to take her on for a few hours that is exactly what we will do. A fine idea. Exorcise the last visit!!!
Something needs to be exorcised! I had to wonder whether the Battlefield Rest still retains some battlefield spirit (or maybe spirits) which your wee angel picked up on.
You might have something there. It was quite the famed battle. I have always liked the fact that the area is called Battlefield too in honour of it!
Breakout in Ripple confirmed. This disruptive technology has just started to make ripples in the banking world, I suggest to get same Ripples while they are still affordable, just like BTC was at 3$.
It funny you should say that because I did manage to get some before this little mini pump! Can you imagine if it really boosted!? That would be awesome. I was reading up on it and it seems to have much more of an advantage than other coins
not to piss on your parade but ripple is the devil's coin. I don't trade on it by principle.
Here's what I mean; it's the coin that wants to bring blockchain tech but under the full control of the banks. Basically it masquerades as "blockchain" but it's in no way no how decentralized. It will be sad if ripple becomes the norm, we'd just have changed a bad system with a slightly better system but more menacing and long lived. Let's not be too happy for ripple :)
That is a very true thing!! However it can be used as a small profit machine from time to time when the devil sings in your ear
as long as you don't sell your soul...
Ach, what's a soul in the end up. Mibbe I will start wearing a suit and using a smart cane!!! :0p
The real question is how you pick what you trade on. That's the hardest part :D
It is, I use the time honoured technique of putting a blindfold on and then doinking my finger on the screen. Whichever it lands on is the one!!!
Easily the most entertaining trade journal I've ever read. What's funny is I had just about the same conversation with my wife this week - she took an interest in the trading and asked me what I could accomplish.
I started trading actively one week ago and came out of the gate storming. I picked good setups and was booking 20% gains here and there. I took 2 btc up to 2.35 and then proceeded to trade it down to 2.15 over the past two days. I've been trying to think about what I did differently - which I suspect is just that I've been too active now. I've gotten impatient and sold one trade to take another only to see the prior position then take off. Now I'm trying to set alerts on three to five good setups and buy when/if they take off.
You have any interest in joining the steemit.chat cryptotrading channel? It's pretty quiet in there and I'd love to share some ideas with another trader.
Upped and followed.
I didn't know there was a cryptotrading channel. Yes indeed, I shall join that. I am at best am amateur but have had some lucky breaks. Of course, I put those breaks down to sheer skill when talking to the missus!! I am glad someone else is having the same kind of conversations with their other halves. Following ya back!
We're in the same class my friend - let's help each other improve!
https://steemit.chat/channel/cryptotrading
Sounds good to me, I will be on later tonight!!!
Actually this channel is much more active:
https://steemit.chat/channel/Trading
Congratulations of this achievement
Thank you but congratulations will only be in order if I can crack this tough trading nut!
You are welcome. Good luck with the trading.
Thank you for sharing your experience. Congrats! :) @meesterboom
Cheers chica!! Always happy to see you drop by! :O)
Amazing, just amazing.
Thats very good of you to say matey!
OHOHO so this was the insider information you made me privy to. Had I known that your reputation, née your marriage was at stake, I would've gone all in on your hype!! Best of luck to ye, my comrade. I know that you shall feast in the halls of Valhalla by month's end. Your good lady best be prepared for a crisp "I told you so."
Stroking the dolphin's beard hahahaha! I like it :D
Stroking the dolphin's beard Lol, glad you got that one. Its why I write posts like this so I can throw in my nonsense quotes :O)
Truly an inspiration, dude! Let our freak flag fly! :D
Would you believe I was charting Ripple for the last 3 days and right when I placed an order for some, it friggin mooned and has not looked back?
Of course you would!!! Like, I mean, by 5 mins man!
Hehe, I completely believe it! I have seen it so often. In the case of Ripple I am quite glad I have been holding onto a bit for a good while!! :O) Yeeeeehaaaw!
The simpler way is the spend the tenner on beer and then post about it on Steemit!
And then you have the potential to earn it back!!
Antics being followed with great interest.
I am determined I shall prove it can be done to her. Of course it's a double-edged sword. If I manage she will expect me to magic money out of thin air!
Just remember your contingency plan was your second thought: Lie like the devil if you need to!!!!! LOL Never admit defeat- especially to the missus! !
It's good to have a contingency! I shall be honest with Steemit at least :OD
I am going all in for increases in buffoonery!!
Hahahah, cheers dude! There is bound to be much of that!
I bought a few Dash at 40$ and sold them a week later at 90. Then it grew up up up...
Wise men shouldn't cry, should them?
;)
They shouldn't cry... But sometimes it is allowed!!! :O)
Wonderful post! Congratulations!
Thank you Olga!!
What a great month it has been for all of us!!!
It certainly has!!
I really enjoy reading this as it gives #motivation to start with a #Fuffy (German word for fifty Euro)
That's really cool to know. I am going to start calling fifties that!!
you are more than welcome...
Super))))... Жги еще..)))
Good lucky with the trading . Before 2 weeks or a bit more i did something simular but not trade i just buy some BTS , now its like over 100% rise up . Seems i got the botom on 422 and at this moment price is 1165 :)
That's impressive. It's great if you cannot catch one just before the pump!! Well done!!!
Im now collekt some info about this new VIVA coin maybe will be good pic but we will see ( im not an expert in trading seems im just lucky :P ) If you are in trading things a lot of info and discusions are going in discord chanel of steamspeak .
I will check it out dude, I am quite the avid trader!!!
Stockpiling BTS i think it has big future.
Double up in one day with ripple or pinkcoin or what ever is being pumped at the time. Ripple up 50% yesterday.
Thats what I am hoping for. Its hard to catch them always before the pump but easy to see after!
I have mostly been an investor in various cryptos, but will all of the volatility in the alt coins, it is tempting to try to trade them. I would prefer it to be more of a science or have some type of chart pattern or more to go on than just a few posts and upward trending price. I tried to trade a few times and it has gone against me more than for me.
But, I'm still interested in the idea and always looking for others who have been successful at it. I might try out the channel that was mentioned on here.
Great post and love the humour. Good luck with your venture.
Cheers man!
Its a tricky tricky thing the trading, It often seems down to luck! I had a peep on the channel earlier. It was pretty quiet but it would be good if it filled up with us crypto types :O)