My $1k to $100k Challenge - Day 21 Trade #31 - SKY
Updated
Hello all and thanks for stopping by and following my personal challenge. I am attempting to turn $1000 into $100,000 by the end of the year by day trading altcoins.
I started my challenge on July 14th with a bankroll of 0.16 Bitcoin that was valued at $1000 at the time. You can follow and see all my trades in my profile.
I am changing my strategy a bit, I will be using 2 to 1 (profit/loss) risk vs reward. My sell targets will still be 5% but my stop loss will be -2 1/2%.
I will also be using 3commas trading bot and using profit trailing starting at 3%. What this means is once an active trade hits 3% profit, the profit trail will kick in. If the price drops -0.5%, autosell will occur for roughly 2 1/2% profit.
This will be another learning experience for me as I am new using 3commas. I hope I don't make any costly mistakes.
Looking back at my losing trades, many trades hit 3% profit or more, then dropped down to hit my stop loss. This new strategy should prevent this problem and turn in more wins.
These last few weeks have been fun. I have won some trades and lost some trades. Learning from my failures will help bring me success.
After 20 days and 30 completed trades:
Wins: 14
Loss: 16
Balance: 0.16178344 B
USD: $ 1198
*Some trades may be pending and not yet included in my stats
There are too many trades to list. All my trades and stats for this challenge can be found in the link on my profile if you want to follow.
CAUTION: This challenge represents a small portion of my overall portfolio. To maximize the potential of reaching my 100k challenge goal quickly with just 1k, I am using most of my challenge bankroll per trade trying to build up my bankroll for the challenge.
If you are following me, I do not recommend this strategy, but instead you should limit your trades to max 3-5% of your portfolio per trade. Please trade smart.
Alright, here we go with Day 21 trade #31
I invested 0.161346 B into SKY. I bought 279.90 for an average cost of @ 57600 satoshi
Sell target is: 60500 for 5.03% profit
Stop loss: 56100 (-2 1/2%)
SKY is a Base play from my Discord group. Decent volume over the last few hours and the RSI and MACD are showing momentum building.
In case you are wondering why my buy price sometimes doesn't match the current price on the chart when I make a new post, this is because I post my coin selection to my Discord group first and then make a new trade idea here which takes about 30 minutes to complete this all.
I am 100% transparent. I show screenshots of my buy price and amount on my Discord group. This has been a fun experiment and I enjoy sharing my journey.
Your comments, agrees and disagrees are always welcome and appreciated.
Thanks for stopping by and have a great day!
I started my challenge on July 14th with a bankroll of 0.16 Bitcoin that was valued at $1000 at the time. You can follow and see all my trades in my profile.
I am changing my strategy a bit, I will be using 2 to 1 (profit/loss) risk vs reward. My sell targets will still be 5% but my stop loss will be -2 1/2%.
I will also be using 3commas trading bot and using profit trailing starting at 3%. What this means is once an active trade hits 3% profit, the profit trail will kick in. If the price drops -0.5%, autosell will occur for roughly 2 1/2% profit.
This will be another learning experience for me as I am new using 3commas. I hope I don't make any costly mistakes.
Looking back at my losing trades, many trades hit 3% profit or more, then dropped down to hit my stop loss. This new strategy should prevent this problem and turn in more wins.
These last few weeks have been fun. I have won some trades and lost some trades. Learning from my failures will help bring me success.
After 20 days and 30 completed trades:
Wins: 14
Loss: 16
Balance: 0.16178344 B
USD: $ 1198
*Some trades may be pending and not yet included in my stats
There are too many trades to list. All my trades and stats for this challenge can be found in the link on my profile if you want to follow.
CAUTION: This challenge represents a small portion of my overall portfolio. To maximize the potential of reaching my 100k challenge goal quickly with just 1k, I am using most of my challenge bankroll per trade trying to build up my bankroll for the challenge.
If you are following me, I do not recommend this strategy, but instead you should limit your trades to max 3-5% of your portfolio per trade. Please trade smart.
Alright, here we go with Day 21 trade #31
I invested 0.161346 B into SKY. I bought 279.90 for an average cost of @ 57600 satoshi
Sell target is: 60500 for 5.03% profit
Stop loss: 56100 (-2 1/2%)
SKY is a Base play from my Discord group. Decent volume over the last few hours and the RSI and MACD are showing momentum building.
In case you are wondering why my buy price sometimes doesn't match the current price on the chart when I make a new post, this is because I post my coin selection to my Discord group first and then make a new trade idea here which takes about 30 minutes to complete this all.
I am 100% transparent. I show screenshots of my buy price and amount on my Discord group. This has been a fun experiment and I enjoy sharing my journey.
Your comments, agrees and disagrees are always welcome and appreciated.
Thanks for stopping by and have a great day!
Trade closed: stop reached
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